Accurate financial information is crucial when it comes to maximizing the performance of your business and making important operational and strategic decisions. To support your business goals, we offer sound, accurate reporting with critical analysis so you always know where you stand financially. And we’re there for you throughout the year to offer insightful counsel and review services, when needed.
Via our financial statement review and compilation services, we provide you with comprehensive and detailed financial statements on a monthly, quarterly, or annual basis. However, we don’t just deliver the documents, we work in partnership with you to make sure you understand your data so that you can continue to make smart business decisions and stay on a healthy financial course.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. Reviews are done to ensure the integrity of your data.
Compilations are usually requested for internal purposes and are based on information provided by a company's management. Compilations do not offer assurance, but they may involve some adjustment to accounting records.
While we’re now two weeks removed from Punxsutawney Phil’s early spring prognostication, spring doesn’t really come for us at LBF Group until after April 15th. As we’ve fully entered tax season, I see different variations of the same two texts regularly. Loosely speaking, they ask:
1.) I saw/heard (some program, article, etc.) that said my refund this...
Despite several setbacks, the IRS has officially opened up filing for the 2019 tax season. The IRS anticipates refunds to start being issued the first week of February and does not expect the government shutdown to affect the refunds of those individuals who file early, contrary to previous reports. It’s important to note that the IRS typically receives a tremendous number of phone...
The Tax Cuts and Jobs Act (TCJA) has made some changes to qualified tuition programs (“QTPs,” also commonly known as “529 plans”) that you might be interested in. These changes take effect for 529 plan distributions after 2017.
As you know, a 529 plan distribution is tax-free if it is used to pay “qualified higher education expenses” of the...