4 reasons to have a financial statement:
- Becoming Bonded
- Financing a Loan
- Making Management Decisions
- Preparing a Tax Return
Compilations – This is an unaudited financial statement, which is the representation of management’s financial information
Depending on the needs of the clients, we can generate financial compilations as a part of our financial reporting on a monthly, quarterly, semi-annual, or annual basis. Through data entry, recording adjusting journal entries, and bank reconciliations, we are able to provide our clients with the following reports:
- Balance Sheet
- Statement of Income & Expenses
- Statement of Cash Flow
- Bank Reconciliation for one or multiple accounts
- Depreciation Report
We can even process and track your payables and receivables!
Performing these tasks create the solid foundation of your small business accounting system. By having your bookkeeping completed by our firm, we will be able to:
- track revenues and expenses so that you can determine the operating performance of your business
- quickly get a handle on the financial strengths, weaknesses, and/or capabilities of your business
- determine your income tax liability and advise on potential ways to reduce it
You can customize the package of services you receive by adding payroll and/or tax preparation.
LLC & Incorporation Assistance:
Do you want to lower your tax libility? Incorporating your business or organizing an LLC may offer substantial tax savings! Since 2004, we began helping our clients form an LLC or incorporate their businesses using The Company Corporation®.
You can count on The Company Corporation® for all your LLC and incorporation needs -- a trusted way to incorporate since 1899. We have trusted their services to organize LLCs or to incorporate over 30 of our business clients in just the last five years. The Company Corporation® can service all 50 states and the process takes less than 15 minutes.
At The Lovell Group, Inc. we offer customized payroll solutions that will meet your needs and enable you to spend more time doing what you do best -- running your company. Click here to learn more about our customized payroll processing services.
We offer the following 3 customized payroll processing options.
- Complete Payroll Services:
Our complete payroll processing service takes care of all of the payroll processing for you by printing all of your payroll checks on our laser printed "blank" check stock to ensure maximum security that meet and exceed the encoding standards set forth by the Federal Reserve System. We accurately, quickly, and timely prepare all payroll tax forms associated with your payroll filings, including anything due weekly, monthly, quarterly, semi-annually, and annually. We provide you with a copy of all tax forms prepared by us along with easy to understand payroll reports each pay period.
Add direct deposit or any NetClient™ options to further enhance your payroll service!
Our manual payroll service offers the same services as above except we will not create or "write" the checks. This option is great for those businesses looking to save some money on the payroll processing fees.
- After-the-Fact (ATF) Payroll services:
We will take your manually-prepared payroll records and post this information into our payroll data files in order to complete all of the required payroll tax filings to keep you in compliance with Federal and State agencies.
Small Business Consulting:
At The Lovell Group, Inc. we take pride in knowing that we can help our clients in so many ways when it comes to their businesses. Not only can we prepare financial compilations, but we can also put them in terms that you can understand, so you can identify your business strengths and opportunities. In addition, we can compare your business to other similar businesses in your same industry and location.
Tax Planning & Preparation Services:
Maybe your filing status will be changing, or you are adding or dropping a dependant; Perhaps you are getting ready to retire or sell some stock. Throughout the year you can count of us to be here to answer any questions you may have regarding your tax situation. One of our consultants will sit down with you to go over your unique situation.
We prepare the Federal 1040EZ, 1040A, and 1040 with any additional schedules that are needed for your unique tax situation. In addition, we can prepare State and Local returns for all 50 states.
We prepare all business related tax filings from the smallest company to consolidated corporate filings. LLC's, Partnerships, Corporations, and Not-for-Profit are the most common structures for these companies. Other business tax filings we prepare include tax reporting for Condo and Homeowner Associations, IFTA, commercial activity tax (CAT), sales tax, personal property tax, and occupational taxes.
- Audit Guidance and Representation:
Via written or phone correspondance to Federal and/or State agencies we can repond to and assist and represent you through any inquiry or audit whether or not we prepare the tax return.