Steven . Covalt
Covalt & Associates PC
Steven Covalt, CPA, is presently a shareholder in Covalt & Associates, P.C., a CPA firm in Colorado Springs, Colorado specializing in creative tax planning and compliance, business valuation and litigation support. He has worked with numerous closely held businesses in their valuations for gift and estate tax planning, in formulating buy-sell agreements and in evaluating purchase/sales prices. Mr. Covalt and the firm have extensive experience in working with medical and other professionals along with other closely held businesses. He has extensive experience as an expert witness in divorce and other litigation court cases throughout Colorado since 1979. He has been involved in over 300 cases as advisor and/or expert witness, including frequent courtroom testimony. He is the author and lecturer at the 1991 Litigation Support Conference sponsored by the Colorado Society of Certified Public Accountants. His topic was the “Valuation of Professional Goodwill”. He was a lecturer at El Paso County Bar Association Trial School (Domestic Relations Section) as to business valuations in November 1994, February 1999 and November 2000, lecturer at the Colorado 2008 Family Law Institute in Breckenridge, Colorado in August 2008 regarding income determination for alimony and child support. He has evaluated and recommended various tax strategies defining the applicable tax law and relating to certain transactions and interpreting the tax impact. Mr. Covalt proposed alternative solutions to problem situations. This role involves working with other tax advisors and tax attorneys, along with the Internal Revenue Service. He provided verbal and/or written communication supporting my recommendations and findings. In his earlier years he was a staff accountant generalizing in all phases of audited and unaudited financial statements, tax research and return preparation for profit and nonprofit entities. He developed an emphasis in taxes, retirement planning and consulting services to small businesses and professionals. He received his Bachelor of Science at Emporia State University, Emporia, Kansas, major in accounting, minor in psychology; graduated with honors December 1973. He is certified by the State of Colorado in January 1975. Licensed to practice in the State of Colorado. He is a member of the Colorado Society of Certified Public Accountants and American Institute of Certified Public Accountants. He received designation of Accredited in Business Valuation (ABV) from American Institute of Certified Public Accountants upon passing the November 1998 written examination. Mr. Covalt is a member of Front Range Business Valuation Study Group.
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