While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of 2022. Rising inflation is on everyone’s mind.
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Minneapolis & St. Cloud, MN
Regardless of your industry, size, or growth stage, all businesses depend on their accounting systems for reliable and accessible financial information. Without it, business owners are making uninformed decisions that can negatively impact their bottom line. When set up and functioning correctly, your accounting and bookkeeping system will provide critical insights about your company’s financial health and empower you to make strategic decisions.
LB Carlson is among the few firms of its size to offer strategic bookkeeping services in addition to a full range of accounting services. Our clients range from new business start-ups to established organizations in various industries. Whether you want to outsource a few accounting services or leverage our entire suite of accounting and bookkeeping services, we can help provide a clear and accurate financial scope that will contribute to the success of your business.
How we can help
Outsourced Accounting and Bookkeeping
One of the most critical roles in a company is finance, accounting, and bookkeeping but finding the right individuals can be time-consuming and costly. Outsourcing all or some of your accounting and bookkeeping functions can be an excellent solution for companies that:
Whether it is reconciling your month-end, helping enhance your internal controls, mentoring your controller, or stepping in as a part-time CFO, we can offer the right amount of support a growing company needs.
Our bookkeeping professionals can help find ways to save you money through fiscal efficiencies, taxes, and financing by preparing and analyzing financial statements or executing your monthly accounting functions. Before you hire your next bookkeeper, controller, or CFO, contact our consultants to discuss the benefits of outsourcing.
Accounting System setup and support
If you have found yourself struggling with accounting software, we can help with your system setup and training. We have extensive knowledge in QuickBooks and have QuickBooks Pro Advisors on staff to make your job easier. We are proficient in various accounting software packages and can help ensure a proper setup and provide ongoing support.
Financial Reporting
Did you know that your accounting system can produce powerful reports to help you make informed decisions and identify red flags before they become problems? We can help you leverage the powerful features found in your accounting system to help you manage, share and deliver your critical business reports. Our consultants will work with you to harvest the information locked in your software from minor changes of existing reports to complete report design.
Why LB Carlson?
At LB Carlson, we are experts at keeping your business moving forward. Our consistent communications, strategic big-picture thinking, and experience serving thousands of businesses in the greater St. Cloud and Minneapolis communities make us different than other accounting firms.
Consider us to be your trusted accounting resources if:
While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of 2022. Rising inflation is on everyone’s mind.
A companywide income statement may be sufficient for lenders or other outsiders to evaluate your manufacturing company’s financial performance. But from management’s perspective, a “segmented” income statement can provide valuable insight into key performance drivers and possible improvement strategies.
A buy-sell agreement is a critical tool for owners of closely held manufacturing companies. It ensures an orderly ownership and management transition when an owner dies, becomes disabled, or otherwise leaves the company. And it creates a market for departing owners’ shares, providing owners and their families with liquidity and ensuring that the business stays in the family or other tight-knit ownership group.
First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer’s cash flow, but claiming them isn’t always the best decision. However, if your manufacturing company wants to take full advantage of the bonus depreciation, this is the year to do so.
Common sense dictates that every company, no matter how small, should carry various forms of business insurance. But that doesn’t mean you should pay unnecessarily high premiums just to retain the coverage you need. Here are five ways to better control your insurance costs without sacrificing the quality of your policies:
The IRS has announced additional relief for pass-through entities required to file Schedules K-2 and K-3 for the 2021 tax year. Certain domestic partnerships and S corporations won’t be required to file the schedules, which are intended to make it easier for partners and shareholders to find information related to “items of international tax relevance” that they need to file their own returns.