Cook Martin Poulson, P.C. has grown from a Small Accounting Firm to a Tax, Accounting & Business Consulting Powerhouse

LOGAN, UT – This year, Cook Martin Poulson, P.C. celebrates 35 years of business and growth, utilizing an honest approach, excellent service and a talented staff to quickly outgrow its competitors and spread across Northern Utah.

“Right from the beginning, this company’s success has stemmed from its ability to meet the needs of its clients quickly, personally and professionally,” said Troy Martin, Partner & Co-Owner of Cook Martin Poulson, P.C.

Bruce Cook and Dwight Cook began the firm in 1977 as a two-man show and over the years has grown to be one of the most successful accounting firms in Cache Valley during our busy season we employee over 50 employees.

In 2004, an office was opened in Salt Lake City, Utah, soon after, in September of 2005, the firm made the change to its current name with five owners, including Richard K Poulson, Troy R. Martin, Daniel G. Smith, Kirk Eck and John R. Adams—each with an equal vote on how the company is run.

“I truly believe this firm’s longevity during the last 35 years springs from its deep roots in the community, its innovative spirit and an unyielding commitment to excellence. We look forward to another 35 years ahead.” Martin said.

To learn more about Cook Martin Poulson, P.C., please visit www.cookmartin.com or call 435.750.5566.

Authored By:  Dustin Wood, CPA.  Dustin has been with the firm 7 years and is the audit manager here at Cook Martin Poulson, PC.  He specializes in financial statement services.

Individuals with special dietary needs (gluten-free diet, salt-free diet, etc.) can reimburse themselves through their Health Savings Account (HSA) plan for the difference in cost of groceries between a “normal” diet and their special dietary needs.  For products which don’t have alternative substitutes (such as xanthan gum used for gluten-free cooking) the full cost should be eligible for reimbursement. 

It is recommended to have a doctor’s note regarding the special dietary needs, and good financial records should be maintained to substantiate any reimbursements.  You should also contact your HSA account provider to verify whether special dietary needs can be reimbursed in the plan you participate in. 

Special dietary needs can increase grocery costs significantly and this is one way to attempt to offset some of those costs by using pre-tax HSA contributions to reimburse grocery cost differences to accommodate the special dietary needs.  The special dietary needs cost difference could potentially be reimbursed through flex spending funds (though flex spending limits are typically lower than those of HSAs and most individuals would use flex spending funds primarily for other medical expenses).

Authored By:  Travis Shreeve, CPA Travis is a CPA with audit and review experience for both public and nonpublic companies.  Travis also acts as a contract controller for several clients.

It’s a common occurrence that we, as accountants, have to turn work away or assist clients in finding another firm to prepare audit or review work.  Clients often wonder why we wouldn’t be perfectly willing to perform an audit or a review when we are already so familiar with their accounting.

Although we may participate in an audit or review if we have prepared the company tax return, our independence may be impaired if we participate significantly in company accounting or act in certain consulting roles with the client.

We have prepared a short list of things that might prevent an accountant from being independent in regards to review or audit procedures for your company.

1. The accountant has a commitment to aquire a direct or indirect financial interest in your company.
2. The accountant has a joint investment with you or your company.
3. The accountant has acted as a director, employee, or trustee for your company during the period associated with the review or audit.
4. An accountant has a close relative working in a key position with your company or that relative has significant financial interest in your company.
5. Your company has threatened litigation against the accountant.

In order for the outside party to rely on an audit or review report, it is important that the independent accountant is truly independent in regards to your company.  If the accountant’s opinion can be (or appears to be) swayed, the audit or review report provides no value for the users.

Here at Cook Martin, we are highly qualified accountants.  We’d like to assist you by providing your accounting and controller needs.  We’d also like to audit your company if it becomes necessary to have an audit performed.  However, we will not act as both your controller and your auditor for the same period.  Contact us if you need one or the other!

The Cook Martin Poulson team wants to thank all of our clients that participated in our bookkeeping and tax surveys.  We really appreciate you taking time out of your schedule to help make our business more successful.  We appreciate your comments and are working toward making your experience here at Cook Martin Poulson, an experience that will not only meet but exceed your expectations. 

We would like to congratulate our survey winners:

Congratulations to Brenda Daines from Waltec and to Lisa Walker from Popp Enterprises, they both received an I-Pad for participating in our surveys.

We truly appreciate all our clients and your comments to better our firm.