Business Accounting & Tax Services

We offer a wide range of services designed to help your business succeed. From bookkeeping to tax preparation, we’ve got you covered. Contact us today to learn more about how we can help you take your business to the next level.

Income Tax Preparation for All Types of Businesses and Non-profit Organizations

At Burke & Lamb, P.C., we offer a full range of small business tax preparation services. We have a team of certified public accountants (CPAs) and other professionals who are qualified to prepare tax returns for all types of businesses, including sole proprietorships, partnerships, S corporations, C corporations and non-profit organizations.

We understand that every business is different, and we tailor our services to meet each client’s unique needs.
Contact us today if you’re looking for a small business tax preparation service that will save you time and money. We’d be happy to discuss your business accounting and tax needs with you.

Corporate Tax Planning

Sound tax planning is integral to any tax strategy. Through the planning process, we are able to help mitigate, defer or even eliminate your taxes by identifying opportunities for all tax deductions and credits available. Planning can also reduce the risk of penalties by setting a course for timely payment of taxes and meeting all filing deadlines with less stress. We are available to assist with the following:

Yearly projections
Maximize deductions
Fixed asset planning
Utilizing credits
Estimated tax payments
Retirement plan solutions
Multi-state issues
Capital gains and losses
Timing considerations
Accounting method planning

Our professional staff engages in active education programs locally and nationally to stay current on complex tax laws for both federal and state filings. We apply that knowledge to your unique situation taking a customized approach to your taxes.

Business Consulting

We provide a wide variety of business consulting services to our clients including financial management, risk management and strategic planning. We take pride in the fact that we listen to your concerns and needs, and then work to develop a plan to help your business succeed.

Cash flow analysis
Mergers and acquisitions
Budgets
Strategic business planning
Financial projections
Litigation support
Business formation and entity selection

QuickBooks Setup
and Support

Whether you’re just starting or have been in business for years, we can help you get set up on QuickBooks and provide the support you need to make the most of this powerful accounting software.

QuickBooks is a comprehensive solution that can save time and help you manage your finances more effectively. We can help you get set up quickly and easily, and we’re always available to answer any questions.

Don’t hesitate to contact us today to learn more about our QuickBooks setup and support services.

Monthly Bookkeeping

Efficient monthly bookkeeping is essential for any business, but it’s often time-consuming and complicated. To save you the hassle, we offer a monthly bookkeeping service that will take care of all your needs.

Our experts will keep track of all your income and expenses, reconcile your bank statements, prepare and file your sales tax returns, and more. We’ll also provide you with monthly reports so that you can see how your business is performing.

With our monthly bookkeeping service, you’ll have more time to focus on running your business and rest assured that your finances are in good hands. Contact us today to learn more about our services and how we can help you.

Financial Statements

Financial statements are some of the most important documents that a business produces. They provide vital information about a company’s financial health and performance.

There are four main types of financial statements:

The income statement
The balance sheet
The cash flow statement
The statement of shareholders’ equity

The income statement shows a company’s revenue, expenses, and profit (or loss) over a period of time. The balance sheet shows a company’s assets, liabilities, and shareholder’s equity at a specific point in time. The cash flow statement shows how a company’s cash is moving in and out over a period of time. And the statement of shareholders’ equity shows how a company’s equity has changed over time.

Financial statements are an essential part of understanding a company’s finances. They can be used to make important business decisions, assess risk, and track financial performance.

Audits, Reviews and Compilations

CPAs can provide three different services when it comes to business financial statements, audits, reviews and compilations. Here’s a brief rundown of each.

Audit

An audit provides the highest level of assurance, the primary objective of which is to develop an opinion on the fair presentation of the financial statements. We utilize a risk-based audit approach to develop an audit strategy and comply with generally accepted auditing standards and objectives. Our work includes gaining an understanding of your business, including internal controls, testing selected transactions and communicating with third parties. Based on our findings, we issue a report on whether the financial statements present fairly, in all material respects, the financial position of the company. As part of the audit process, we will communicate to management and those charged with governance any deficiencies in internal controls as well as make recommendations to strengthen your company’s operational efficiency.

Review

The objective of a review engagement is to obtain limited assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in accordance with generally accepted accounting principles. A review is less extensive than an audit, but more involved than a compilation. A review engagement consists primarily of analytical procedures and inquiries of management. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures. A review does not entail an in-depth evaluation of your company’s internal controls or verification of data with third parties. Reviewed financial statements must include all required footnotes and other disclosures.

Compilation

We are often engaged to compile financial statements with no opinion or assurance, known as a compilation. Compilations do not require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business in order to compile the financial statements.