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Services

Lawrence Cumpston & Associates, PLLP provides a wide range of services to individuals and businesses in a variety of industries. We strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

Our professional services include:


Audits, Reviews, and Compilation

Lawrence Cumpston & Associates, PLLP's financial statement services comprise all three levels of assurance depending on your company's needs.

Audits

Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We perform audits for you to remove errors, ascertaining the validity and reliability of your information.

Reviews

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. We perform reviews to ensure the integrity of your data.

Compilations

Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.

Assurance and Advisory Services

At Lawrence Cumpston & Associates, PLLP, we focus on building close client relationships that add long-term value. This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality or its context, meaning more success for your business.

These services include but are not limited to:

  • Audits, reviews, and compilations
  • Entity selection and restructuring
  • Accounting software selection
  • Financial projections and forecasts
  • Debt and finances advising
  • Mergers and acquisitions
  • Transaction structuring and negotiations
  • Business succession

Accounting Services

From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Lawrence Cumpston & Associates, PLLP's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues.

These services include but are not limited to:

  • General ledger and financial statement preparation
  • Bookkeeping (Monthly, quarterly, or annual)
  • Accounting system setup
  • Payroll processing
  • Cash flow budgeting and forecasting
  • Personal financial statements

Tax Preparation Services

Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.

Our goal is to make the preparation process as easy as possible for you and minimize your tax liability with careful planning. Your tax preparation interview can be conducted either in person, by phone or e-mail - whichever is most convenient for you.

At Lawrence Cumpston & Associates, PLLP, we provide comprehensive and experienced tax compliance services including:

  • Individual Tax Preparation
  • Business Tax Preparation (Corporations, S-Corporations, LLCs, Partnerships and Proprietorships)
  • Estates and Trusts Tax Preparation
  • Gift Tax Preparation
  • Tax Representation for IRS or state audits
  • Multi-State Tax allocations and preparation

Estate and Trust Planning and Tax Preparation

Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Lawrence Cumpston & Associates, PLLP's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.

Tax Planning Services

In today's world, businesses and individuals require much more than just the preparation of tax returns. Constant changes in tax laws mean your tax situation should be monitored throughout the year. Lawrence Cumpston & Associates, PLLP emphasize tax planning year-round, not just at year-end, to identify and communicate tax saving strategies to help our clients prosper in an increasingly complex environment.

Whether you are planning for a specific transaction, or developing an overall tax strategy, we guide our clients through a full range of tax planning strategies that minimizes your tax liabilities. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. .

Tax Representation Services

Dealing effectively with the Internal Revenue Service (IRS) or other state or local regulatory authorities requires specialized knowledge and experience. IRS and State auditors are trained to extract more information from you than you have legal obligation to provide. IRS auditors know that most people fear them and are ignorant of their rights and as a result they know they can use that against you.

Rarely do our clients even have to talk with the IRS, with attaining Power of Attorney on behalf of our clients we are able to handle the situations. We have achieved a level of competence, from our years of experience dealing with many taxing authorities, which ensures our clients that they are being properly represented before the various federal and state tax agencies.

If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS or state authorities may be asking of you.

QuickBooks Accounting Help and Assistance

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.

Lawrence Cumpston & Associates, PLLP QuickBook Pro-Advisors can offer you the following solutions to help meet your QuickBooks needs:

Personal Training

We train you personally! Either one-on-one or several individuals within your organization at your company's location.

Installation

We install QuickBooks on your stand alone computer or we can assist your IT personnel how to set up in a network environment, in either single- or multi-user mode.

Setup

We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.

Support

Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.

Review

Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.

Bookkeeping/Write-up

Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Lawrence Cumpston & Associates, PLLP can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

Entity Selection and Restructuring

Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Lawrence Cumpston & Associates, PLLP can advise you on choosing an entity type and later restructuring if advantageous.

Mergers, Acquisitions, and Sales

Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Lawrence Cumpston & Associates, PLLP can provide professional know-how to help you successfully structure and negotiate the deal. Lawrence Cumpston & Associates, PLLP employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.

Cash Flow and Budgeting Analysis

Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Lawrence Cumpston & Associates, PLLP can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.

Financial Projections and Forecasts

No one can predict the future perfectly, but we can all benefit from planning for it. Lawrence Cumpston & Associates, PLLP combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.

Debt and Finance Advising

Whether your needs are corporate or personal, Lawrence Cumpston & Associates, PLLP's professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.


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