Claiming Your Parent as a Dependent
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks.
As a professional services firm, you want to minimize your tax liability, improve profitability, and increase cash flow on behalf of your organization and the owners. You also want to ensure you are in compliance with state and federal laws and regulations and be prepared to eventually transition the ownership of your business. That’s where Lumsden McCormick can help.
Helping You Achieve Your Financial Goals
With extensive experience serving medical and dental practices, attorneys, engineering and architecture firms, creative agencies, insurance brokers, and other professional service businesses, we provide innovative approaches that help you minimize taxes, improve operations, and increase profitability.
Being a fellow professional services provider means we understand the needs of organizations like yours. We listen carefully to your need and assist with everything from traditional assurance and tax services to one-time consulting engagements to ongoing arrangements where we work side-by-side to collaborate with your internal accountants or office managers.
Our services to professional service organizations include:
For more information about our accounting and consulting services for professional services companies, contact a service leader or complete the form below.
Understand what opportunities are available to help your business grow such as 0% state corporate income tax. Ask Cory and Alan questions at the end of this informational webinar.Learn More