On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance.
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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:
On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance.
The Small Business Administration (SBA) has released its long-awaited Paycheck Protection Program (PPP) forgiveness form for borrowers. The release on May 15 brought with it significant changes to the interpretation of some components of forgiveness that were not previously known.
The CARES Act allows all employers to defer the deposit and payment of the employer’s share of social security (SS) taxes (6.2%) and self-employed individuals to defer payment of certain self-employment taxes. The timing of the deferral will depend in whether or not the employer receives a loan under the Payroll Protection Program
Many companies have been significantly impacted by the downturn in the economy caused by the COVID-19 fallout. As such, the impact on your operation should be documented to support the need for the PPP loans.
The coronavirus (COVID-19) pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now.
It was announced on March 20 that Tax Day would be postponed from April 15 to July 15 to coincide with the delayed tax payment deadline at the direction of President Trump. Treasury Secretary Steven Mnuchin announced the postponement via Twitter, stating that all taxpayers and businesses will have until July 15 to file and make payments without interest or penalties.
Many states are still announcing their response to the deadline. Due to COVID-19, Minnesota is providing additional time until July 15, 2020, for taxpayers to file and pay 2019 Minnesota Individual Income Tax without any penalty and interest. Minnesota has not extended 2020 first and second quarter taxes. We know you have lots of questions. Below is a summary of the 10 most common questions and the IRS’s response.