Fulfilling accounting responsibilities and filing personal tax returns can be particularly overwhelming at the peak of tax season. In relation to business-related accounting, having a dependable partner eases the stress through the entire year, all the way up to maximizing profit at year-end. Colorado-based LM Tax and Accounting stands out as a market leader for being professional, yet personalized and affordable. This excerpt covers the entire LM Tax and Accounting in detail including its offerings, reviews, prices and more so you can make an informed decision with all the necessary details especially when it comes to finances.
Who Is LM Tax and Accounting?
This certified accounting firm located in Colorado is reliable due to its 30 years of extensive financial experience by its CPA Lance D. McCuistion. Ever since it was founded, it has served individuals and businesses without discrimination. The firm offers specialized services focusing on preparing taxes, bookkeeping, payroll, and even consulting business ideas in order to assist clients in navigating through intricate financial hurdles.
The primary aim of the company is to ensure that clients can seamlessly traverse the complicated maze of taxes and accounting. Individual returns, starting a business, or even managing payroll can be taxing, and promises to resolve all issues with precision and care while being cost-effective.
Services They Offer
1. Tax Anticipation and Filing
The preparation of taxes is an exacting task, more so with the never-ending changes in tax legislations. LM Tax and Accounting offers expert tax services for individuals and businesses, ensuring that each return is filed correctly and within the specified deadline.
- Individual Tax Returns: LMTAX prepares personalized tax returns for individuals in such a manner that maximally deducts from the client’s liabilities and helps them avoid costly mistakes that could lead to audits.
- Business Tax Returns: Small businesses benefit from comprehensive tax filing services that include everything from simple sole proprietorship returns to more complex S-corp and partnership filings.
- SALT: It provides expert knowledge on various state taxes, particularly for multi jurisdictional clients who operate in several states, and thus navigating state-specific tax regulations becomes easier.
Moreover, they provide assistance with tax planning, guiding clients throughout the year in organizing their finances for tax season. This service is designed to relieve the burden of taxes in the future and make sure that tax-saving opportunities are fully utilized by the clients.
2. Bookkeeping Services
Timely and precise bookkeeping forms the backbone of every successful business and it helps small and medium-sized enterprises remain organized and compliant with their bookkeeping through numerous services.
- Monthly Bookkeeping: The firm processes all aspects of bookkeeping, which includes recording incomes and expenses and reconciliation of bank accounts.
- Financial Reporting: Business owners can have insightful visibility on their economic standing with customizable reports that can be produced monthly, quarterly, or yearly.
- Cash Flow Management: The survival of a business highly depends on managing investments and expenses, and it also provides consulting to help clients manage cash coming into the business and flowing out to maintain operational stability.
3. Payroll Services
Processing payroll can be quite tedious, particularly given constant changes to overtime, benefits, and tax filing regulations, and they offer payroll for companies of every scale designed to alleviate these challenges.
- Payroll Tax Filing: LM Tax and Accounting meticulously maintains and files payroll taxes to ensure they meet IRS and state guidelines, avoiding any penalties.
- Employee Benefits: The firm assists clients in managing employee benefits, such as health insurance and retirement plans, and ensures that all applicable laws and regulations are met.
4. Business Consulting Services
Beyond standard tax and accounting services, it provides innovative business consulting services enabling clients to identify operational inefficiencies and enhance their small business finances.
- Financial Planning and Strategy: The firm collaborates with clients to devise strategies that achieve long-term financial goals while proactively managing impending challenges, ensuring the business remains poised for growth.
- Sales Tax Filings: Many businesses have sales taxes to file and LM Tax and Accounting offers support on what needs to be filed and guidelines on when to maintain compliance with regulations.
- S-Corp and LLC Formation: When starting a business, selecting the appropriate business structure is crucial. LM Tax & Accounting identifies the most advantageous tax strategies for newly formed corporations and LLCs and guides clients through the formation process.
Client Feedback About LM Tax and Accounting
Customer feedback is vital for every service-oriented business. Here we present the praises and the criticism that has been leveled at LM Tax & Accounting.
Client Praise
Clients highlight the professionalism, knowledge, and cost effectiveness. Here are a few customer praises:
- Attention to Client Needs: Personal One Contact Services offered by the accounting firm LM Tax and Accounting has drawn many clients’ attention. The firm seeks to provide every client with solutions tailored to their unique financial circumstances.
- Knowledgeable Staff: Clients appreciate the firm’s knowledge of tax laws and accounting, especially for intricate filings and for businesses that operate in multiple states.
- Affordable: They promises quality work at a lesser cost compared to other accountants.
- Prompt Communication: Clients especially during the tax season express the importance of the firm’s communication and the promptness thereof.
Criticism
Most reviews are positive but some clients highlighted the following areas for improvement:
- Staff Not Accessible: Some clients have noted issues trying to reach the firm during busy times. This can be a problem from an accessibility perspective for last-minute guidance or assistance with submissions during the tax period.
- Rushed Consultations: A select few reviews mentioned that some consultations felt rushed, and that clients were left with unresolved issues. This may cause some clients to have lower confidence in the services offered.
These criticisms, in relative comparison to the overwhelming positive feedback, have been acknowledged by the company’s responsiveness in addressing service improvement concerns.
Pricing Structure
With regards to service provision, recognized for being competitively priced. The following summarizes their pricing model:
- Tax Preparation: For personal returns, individual tax preparation services are offered starting at roughly $60 for basic filings. More complex returns or additional services such as itemized deductions will incur higher fees, often between $120 to $200.
- Bookkeeping: Bookkeeping services are billed at an hourly rate of $60. The overall cost will depend on the scope of work and how frequently the service is provided.
- Payroll Services: Fees for payroll services are set according to the size and complexity of the business. Typically, these rates start at $100 a month for small firms with less than 10 employees.
- S-Corp Filings: A consultation with an expert for preparation and filing of S-Corps documentation starts at $300 with our firm.
While our prices remain competitive, we encourage clients to reach out directly for custom quotes that best suit their specific needs.
Location and Availability
Thornton and Denver are some of the many locations in Colorado where they operate. Local clients have easy access to their office at 420 E 58th Ave #145, Denver, CO which is centrally positioned.
Available Operating Timings:
Monday to Friday: 9:00 AM – 6:00 PM
Saturday: 10:00 AM – 3:00 PM
Sunday: Closed
In addition to visiting their website, clients can call (720) 289-4598 for further information.
Conclusion: Are You Considering LM Tax and Accounting?
For individuals and businesses seeking professional tax and accounting services around Colorado, LM Tax and Accounting has been a reliable partner to work with. With their personalized attention to services, tax expertise, and financial offering, they ensure year-long client support.
They provide help with bookkeeping, payroll, or consulting at cost-effective rates coupled with quality service. Although there have been cases of rushed consultations, commendable customer feedback and satisfaction alongside competitive pricing make the firm a go-to option for dependable tax and accounting solutions.
