Local governmental organizations operate in a highly regulated and heavily scrutinized environment. Partnering with an audit, accounting, and advisory firm with the specialized knowledge and experience necessary to help navigate the challenges of this industry is essential. LB Carlson’s governmental services team offers a full menu of expert services to assist our clients in meeting and exceeding reporting and compliance requirements, maximizing efficiencies, and maintaining the public trust.
Assurance and Attestation Services
In the public sector, nothing is more important to the credibility of local governmental organizations than exhibiting sound financial management and regulatory compliance over the use of the public funds with which they are entrusted. LB Carlson annually provides assurance and attestation services to approximately 100 such organizations, including: cities and townships, school districts and cooperatives, charter schools, police and fire relief (pension) associations, and numerous other joint ventures and commissions. Our assurance and attest services include:
Advisory services
We offer a wide range of customized advisory services specifically tailored to meet the needs of our governmental clients, including:
Tax Services
These are only some of the services we offer. Please contact LB Carlson’s governmental services team to see what we can do for you!
The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new law that was enacted late in December.) Even if you typically don’t file until much closer to the April 15 deadline (or you file for an extension), consider filing earlier this year. Why? You can potentially protect yourself from tax identity theft — and there may be other benefits, too.
Attending college is one of the biggest investments that parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of higher learning, you may be eligible for tax breaks to help foot the bill. The Consolidated Appropriations Act, which was enacted recently, made some changes to the tax breaks. Here’s a rundown of what has changed.
To help you make sure you don’t miss any important 2021 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them.
Cost segregation is a tax savings strategy that allows owners of commercial real estate to achieve significant cash flow savings by accelerating depreciation deductions and deferring federal and state tax obligations. This tool is extremely useful for entities that purchased, expanded, or remodeled real estate that is used in a trade or business.
LB Carlson recently hosted a webinar that covered the most frequently asked questions and key considerations regarding the PPP loan forgiveness process. All PPP loan recipients will want to be aware of the general considerations regarding the forgiveness process and the recent changes to…
The Consolidated Appropriations Act (CAA) was signed by President Trump on December 27, 2020. The expansion of the Payroll Protection Program (PPP) loans and tax-deductibility of expenses paid with the first PPP loan received the most fanfare. Also included in the CAA was the expansion of the Employee Retention Tax Credit (ERTC). If the eligibility requirements are met, businesses could be entitled to significant credit amounts. There are separate eligibility requirements for 2020 and 2021.