Our Services - By Industry

SCHOOLS

As an accredited school participating in the U.S. Department of Education’s Title IV programs, you know the challenges of producing accurate accounting information and maintaining student records in compliance with complex, changing regulations.

The U.S. Department of Education Office of the Inspector General recently released it’s new 2016 Guide for Title IV audits of for profit proprietary schools. The result of the new guide is a stricter sampling methodology and required procedures.

Now more than ever it is important to align with an auditor who has the expertise and understanding in complying with Title IV laws and regulations. While you consider who will complete your audit there are some important points to remember:

  • LaBounty and Associates has over 25 years of experience performing Title IV audits
  • We strive to deliver a quality audit as painlessly as possible, while advising our clients on the best practices to help them achieve their goals and prepare for Department of Education’s program review
  • Our approach is not just to perform an effective and efficient audit, but also to use the audit process as a means for further educating our clients regarding best practices within the for profit proprietary school industry.

NON-PROFITS

LaBounty and Associates has specialized in the needs of small non-profit organizations for over two decades. We provide tax, audit and accounting services to a wide variety of non-profit organizations, including churches and ministries, social services and health and welfare agencies. We take pride in helping our clients serve their communities as your organizations are an integral part of our economy and society. With the complexity of accounting for non-profit organizations it is important to work with a firm who has the expertise to help achieve your organizations mission.

SMALL BUSINESS

LaBounty and Associates takes the approach of removing one of the hats many small business owners wear. Most small business owners try to do more things than they have time for. As businesses grow, so do their needs. We offer small business accounting and tax services so owners can focus resources in other areas.

Our Expertise - By Service

AUDITS

LaBounty & Associates philosophy and practice is to blend experience, common sense and results in the conduct of each audit engagement. The third parties who rely on the financial statements require assurance that the financial statements accurately represent the financial position of an entity.

  • An audit provides the highest level of assurance on the reliability of a client’s financial statement.
  • A review provides limited assurance on the reliability of a client’s financial statement.
  • A compilation provides the lowest level of assurance on the reliability of a client’s financial statement.

Our approach is to use the audit as a means of identifying opportunities to improve operational efficiency, reduce costs and increase revenues. We informally offer ideas throughout fieldwork and issue a more formalized management letter at the end of the engagement.

As a member of the AICPA and under GAAP, GAGAS and DOE standards, we are required to engage an outside CPA every three years to conduct a thorough “peer review” of its professional practice. We proudly offer to the public the results of our most recent peer review.

TAXES

Today’s tax laws are complicated. Our tax practitioners work continuously to stay on top of tax law changes and identify tax strategies in order to provide our clients with the most up to date information. We offer a range of services that will meet the needs of individuals, small businesses and non-profits. Our tax services include:

  • Individual
    • Preparation of Form 1040
    • Preparation of Schedule C for sole-proprietors
    • IRS Representation
    • Planning and consulting
  • Small business
    • Form 1120S Corporate Returns
    • Form 1065 Partnership Returns
    • Personal Property Renditions
    • Payroll Tax quarterly filings and year end filings
    • Preparation of Form 1099
    • Sales and Use Tax Returns
    • Planning and consulting
  • Non-Profits
    • Applications for recognition of tax-exempt status
    • Preparation of Form 990, 990EZ and 990N
    • Planning and consulting
  • International Services
    • ITIN Applications
    • Tax return preparation

ACCOUNTING SERVICES

LaBounty and Associates does not try to fit all of our clients into a set business model, we take the time to find out what you need and design our services accordingly.  We offer a wide range of services to help Non-Profits and small business navigate the accounting process.  We have clients that need specific accounting functions handled such as payroll and payroll tax compliance and we also have clients that need accounting staff on-site to meet their needs.  In all scenarios we want to partner with you to allow you to do what you do… run your business.  Some of the accounting services we provide are:

  • Payroll and payroll tax compliance
  • Year End payroll and 1099 reporting
  • Full charge bookkeeping
  • QuickBooks set up and training
  • On-site accountants
  • Out-sourced CFO services
  • Business planning

Memberships:

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Copyright © 2016 R. Michael LaBounty & Associates, PC. All rights reserved.