- Audit and Assurance
- Business Development Incentives
- Client Accounting Services
- Cost Reports
- Cost Segregation
- Forensic Accounting, Litigation, and Valuation
- Information Technology Audits
- Investment Management
- Nonprofit Technology Solutions
- Tax Services
- Trusts and Estates
Client Accounting Services
All organizations require timely and accurate financial information to make informed decisions, but often do not have all the resources to do so. Whether it’s bookkeeping and bank reconciliations or strategic planning, Lumsden McCormick is able to provide various levels of accounting support to assist clients in this critical area. Partnering with our experienced staff provides you access to experts with years of experience with tax and accounting strategies as well as real-world business experience.
Improve Processes and Cut Operational Costs
Start-ups and seasoned businesses have different needs, which is why our outsourcing solutions are scalable to fit your business’ unique operations and goals. By bringing in our experts, you aren’t paying the hefty salary of a CFO, nor are you relying on staff without the proper training and expertise to report the important financial nuances needed to grow your business. We offer short-term project based support, long-term partnerships and everything in between.
Experience in Your Corner
As one of the largest, most established accounting firms in Western New York, our Firm consists of experts in tax incentives, wealth management, business succession planning, business valuations and more. Our team has worked with a variety of industries, corporate structures, and sizes, and offer a variety of customized outsourced accounting services as needed. Most importantly, our certified public accountants have been on your side of the table, including experience as the CEO and CFO of a local business.
Real-Time Business Intelligence
Lumsden McCormick’s team is trained in many software applications and holds certifications with cloud-based QuickBooks and Bill.com. Working in the cloud allows your team access to your financial standing in real-time. This means you are able to react in an informed manner to important financial decisions based on the most accurate information at that moment. As a member of that team, Lumsden McCormick is able to consult on each decision along the way.
Our scaleable Client Accounting Services solutions include:
Bookkeeping – Transaction processing
- Invoice processing and payment preparation
- Billing and cash receipts
- Bookkeeping and general ledger processing
- Bank and other account reconciliations
- Payroll processing
Accounting – Financial statement and tax preparation
- Internal financial statement preparation
- Internal reports and analyses
- Monthly closing reconciliations and analyses
- Procurement processing
- Prepare adjusting entries
- Tax return preparation
CFO/Controller – Strategic thinking and analysis
- Preparing budgets and forecasts
- Strategic planning
- Succession planning
- CFO/controller services
- Tax compliance consulting
- Tax reduction strategies
Saturday, February 24, 2018
The Tax Cuts and Job Act (TCJA) commonly referred to as tax reform has changed the deductibility of certain meals and entertainment expenses. Documentation is especially important in 2018.
Wednesday, September 20, 2017
As a recent court case illustrates, a person can be personally hit with the 100% penalty even if someone else is primarily responsible for submitting the withheld taxes.
Monday, September 11, 2017
Beginning September 18, 2017, the USCIS is requiring that all employers use the newly revised form and continue to follow the existing storage and retention rules.