The Compliance A.C.T℠ – Tax Preparation
Accountants are notoriously known for being “bean counters” and “number crunchers,” both portraits of detailed, dull and socially inept people who spend long, grueling hours in dingy and badly lit offices chasing pennies around the floor. Well, that may have been true at one time, but with advances in technology today, Lawhorn CPA Group is changing the way people view their accountants. We have gotten our A.C.T. (accounting, consulting, and tax) together to offer you services beyond what you expect. These services focus as much as possible on real-time reporting to allow you to make Accurate, Relevant & Timely decisions, which is the A.R.T. of Business.
Have you ever wondered why we really file tax returns? Because the law says that we have to, right? If there wasn’t a law saying we have to file, there would be no reason we would file reports and pay the tax. But there are, in fact, laws for Federal, state, and local authorities that require us to report income and pay taxes on our income. So we comply, which means it must be done even though it is a time consuming process, and can be a dangerous one if you don’t know exactly what you are doing. Did we also mention it is time consuming?
Your T.E.A.M. at Lawhorn CPA Group understands the tax implications that impact all types of business structures and planning strategies. As a result, we are able to provide you with comprehensive tax services that are customized for your unique business situation. We serve a wide range of corporations, partnerships, trusts, estates, and tax-exempt organizations, and the Lawhorn CPA Group T.E.A.M. works with you to develop innovative strategies that allow your business to use the tax laws to your advantage.
These variables lay the foundation for The A.R.T. of Accounting℠. The Lawhorn CPA Group T.E.A.M. will provide you with “Accurate” information so you are are taking advantage of the tax code, and not the other way around. The information and strategies we will provide will be “Relevant” to your unique tax situation. Finally, we will provide what you need on a “Timely” basis so your advantages and relevancy are iron clad and resolute.
Admittedly, the wheels of government are greased for small business. And, individuals can often use that to their advantage and maximize their tax deductions by setting up small businesses, or changing existing companies from one entity type to another. Lawhorn CPA Group can help you identify unexplored tax options for yourself and/or your business.
The Compliance A.C.T. – Financial and Accounting Reporting
In case you weren’t aware, or have not been sure, financial reporting is vital for all business owners to rely upon when making decisions that impact the business. The more current you can get that reporting the better. Decisions regarding investing, applying for credit, projections, and other business opportunities are all better when you have the real-time financial results to back them up. While the Virtual Financial Office℠ provides you with the real-time financial reporting you need for your daily operations, The Compliance Accounting℠ provides you with management or 3rd party financial reporting to banks and other interested parties. We can provide traditionally compiled and reviewed financial statements in either a GAAP-based or OCBOA-based format, and even customize additional reporting necessary to meet your specialized needs.
The Compliance A.C.T. – Consulting
CPAs in our profession generally get bent out of shape when we mix the two words “compliance” and “consulting” because they find it …well…insulting. They believe we are devaluing the service being offered. Nothing could be further from the truth. Compliance and consulting services are extremely valuable and should go hand-in-hand to be part of the core attributes that a CPA firm is known for, or not. Lawhorn CPA Group is certainly known for our compliance consulting services, such as tax planning and strategic financial planning, which have been at the center of our client relationships for 30-plus years.
The Strategic Tax Planner℠
One of this country’s Founding Fathers said, “Tax evasion will get you thrown in jail but, as Americans, tax avoidance is our duty.” The Internal Revenue Code is based upon capitalism and, while many believe the code is black and white, the truth is that there are many shades of gray and areas for interpretation of the code. That is why it is called a “code” and not “rules.” As CPAs, we work day after day with the IRS and other taxing agencies to further define what that code is and how it applies to small businesses and individuals. It is our responsibility to know and interpret the code, with the additions of other Internal Revenue procedures and tax court cases ensuring the lines are not crossed, and that all the opportunities available to small businesses and individuals are in place to minimize taxes.
In fact, by enlisting the services of Lawhorn CPA Group early on, you are being proactive when it comes to managing your financial security. This allows us to know from the get-go which application of the code, including tax credits, may be most appropriate for your situation. The Lawhorn CPA Group T.E.A.M. is here to guide you and your business, placing the right pieces of your financial puzzle together, thus increasing your opportunity for success.
IRS & State Representation
If you have ever received a non-compliance or audit letter from the IRS, you know how frightening it can be. When you or your business have serious tax complications, the IRS and other tax agencies can make your life feel unpleasant, and to put it mildly. Many taxpayers try to handle tax issues on their own, but end up with an even higher tax bill. Negotiating effectively with these agencies requires specialized knowledge and experience to understand and apply tax laws and regulations to work in your favor. We deal with these agencies every day and are prepared to help you with your unique situation.
Your T.E.A.M. at Lawhorn CPA Group is here to help you resolve your tax problems. We understand that every tax issue is unique, and we will assess your situation to come up with a strategy to effectively represent you and defend your rights as a taxpayer. We offer a variety of solutions to help you overcome your tax issue, such as:
- Preparation of unfiled or amended tax returns
- Resolve government liens and levies
- Set up tax payment plans, such as Offer-in-Compromise or Installment Agreement
- Tax representation for notice resolution
- Audit representation
- Innocent Spouse Relief
- Payroll Tax notice resolution
We work with you to complete your new Contractor’s License application, or renew your current license. Your T.E.A.M. at Lawhorn CPA Group will assist you with gathering the required supporting documents that must accompany your application or renewal, and avoid mistakes that can cause delays or rejections. We can even prepare any necessary reviewed financial statements that must be provided with the application or renewal.