POSITIVE PLANNING: “My main purpose is to guide my clients to a positive financial outcome. For each client, I set up a personalized plan, and together, we revise it every year. With my experience, I try to help them achieve their goals.” Annie Hung-Scanga, CPA, MBA, CKA, owner and managing member of Atlantis Accounting, specializes in tax preparation, tax and financial planning, small business consulting, estate planning, and trusts. She looks forward to introducing new clients to her services.

By Jean Stratton

Peace of mind.

Who doesn’t wish for such a welcome state of well-being?

Every era, every age faces its own challenges, but right now, we seem to have our full share. Turmoil throughout the world, including severe political division right here at home; cultural unrest; climate change with its extreme weather patterns; uneasiness about new technology and where it is leading us; cost of living increases; growing disparities between rich and poor — the list goes on.

And the personal financial troubles. Waking up in the middle of the night worrying about feeding the family, paying the rent, having enough resources to send the children to college, trying to save money before retirement — these are concerns that torment many people today.

Personalized Service

Annie Hung-Scanga, CPA, MBA, CKA, owner and managing member of Atlantis Accounting, located at 116 Village Boulevard in Princeton Forrestal Village, is fully aware of these concerns. It is her mission to help guide her clients to a more comfortable, secure financial situation, and try to relieve them of some of these anxieties.

Atlantis Accounting provides a wide range of professional accounting services and financial planning for its clients. “Because our firm is relatively small, our clients benefit by getting personalized, quality service,” explains Hung-Scanga.

“As a certified public accountant, I bring advanced accounting skills to the table, so my goal is always to personally help my clients plan wisely, and to effectively implement the best possible strategies in each situation.

“I want to help hard-working individuals, families, and small businesses put their finances in order by preparing a personalized financial plan; laying out possible tax-saving strategies; and preparing timely, accurate tax returns.”

A native of Taiwan, Hung-Scanga grew up surrounded by the world of mathematics. Her mother was an accountant and her father a math teacher. She came to the U.S. in the early 1990s to study, earning an MBA at the University of Buffalo-SUNY, and was also certified as a CPA.

After time working for Arthur Andersen & Co. in Taipei, and later, at Bristol Myers Squibb in New York City, she decided to open her own accounting firm in Princeton.

Many Factors

“I liked the idea of having my own business,” she explains. “I could focus on what I wanted to do and the way I wanted to help people.”

She takes a very individual approach with each client, who can be of any age and at different stages of financial health. There are many factors to consider, she points out.

“What stage of life are they in? What is their earning potential? What are their savings? Do they have an emergency reserve? What are their goals? Setting up a college fund? Retirement planning? Estate planning?

Do they have a mortgage? Are they getting Social Security?

“So many older people are worried about running out of money, and I want to help them with that. I give advice to each client suitable to their individual situation.”

Honest communication with her clients is crucial to a good working relationship, she adds. “We need to have an open discussion about each client’s financial situation, and what they hope to achieve. What is their age, their current financial status, health concerns?

“Also, they may have a retail property, or a consulting business on the side. Some people started their own business during COVID. These are all factors in their financial planning and their tax situation.”

The Sooner, the Better

Hung-Scanga will be very busy as the tax season gets underway. Tax preparation and planning are specialties for her, and she notes that the sooner people get their tax information in order, the better.

“My clients generally have complicated tax returns, and they do rely on my expertise and long experience. It is also important to keep up with the changing rules and regulations for taxes, and I use professional software programs that help to keep me informed.

“I am careful to ask questions in order to seek the maximum tax deductions that our clients are entitled to; on the other hand, if you owe a large sum of taxes, we can help you to figure out a payment plan. We compare your tax situation with previous years to ensure that we cover all ground.”

“Also,” she continues, “if your tax situation changes dramatically due to life’s changing events, such as winning the lottery, marriage, divorce, loss of a spouse, etc., we are here to help determine your new tax position.”

Small business consulting is another service Atlantis offers, and as Hung-Scanga reports, “Providing financial information to our clients in the most timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operation will run more efficiently on a daily basis. Our firm provides a full range of cost-effective accounting services for you.

“Our goal is to assist small business owners to identify the most tax advantageous way of saving for their retirement and to fund their children’s education.”

Side By Side

Estate planning and related taxes are another important feature of Atlantis Accounting’s work, explains Hung-Scanga. “The estate tax is a tax on your right to transfer property at the time of your death. It consists of an accounting of everything you own or have an interest in at the date of death.

“Estate taxes and planning are complicated,” she adds. “You really need an experienced estate tax professional to help you understand how to develop your own unique estate plan. And although we are not attorneys, we will work side by side with your estate planning attorneys.”

In addition, regarding estate planning, Hung-Scanga reports that it is not unusual for people to remember their animal companions at this time. “Pets are very important to people. Some clients set up special plans for their pet in their estate planning. This can include cats and dogs, as well as horses or other animals.”

She points out that her clients, many of whom have been with her for many years, are not only from Princeton, but statewide in New Jersey, as well as many areas in New York, including Manhattan.

“Also, clients may have moved to Florida or other places, or have second homes,” she says. “With the technology of today, I can really work with clients anywhere.

“I enjoy meeting different people from different professions and backgrounds. I like the challenge of the work and finding the best suitable plan for each client.

“I also help people who may have had an unsuccessful experience with a previous financial planner or tax consultant, who are looking for personalized service from someone they can count on. I always respond promptly to questions from clients and try to find the best suitable answers for them.

“I look forward to introducing myself to more people in the community, helping them get their finances in order, and achieving that all-important peace of mind.”

For more information and to make an appointment, call (609) 910-2600 or visit the website at atlantiscpa.com.