PROFESSIONAL SERVICE FIRMS NEED PROFESSIONAL ACCOUNTING PARTNERS

Professional service firms have unique considerations when structuring their business and maximizing their profitability.  Having an external partner with the expertise in your industry will help grow your practice.

ACCOUNTING

  • Outsourced accounting assistance

  • QuickBooks assistance by QuickBooks Certified ProAdvisors

  • Preparation of internal financial statements

  • Internal controls implementation

TAX

  • Tax planning strategies

  • Tax preparation for the professional services practice and the owner(s).

  • Cost-savings possibilities when the practice's business and owner(s) personal taxes are prepared collectively

  • All federal, state, and local tax filings

  • Quarterly estimate preparation

  • New partner tax considerations

  • Multiple office locations and multi-state tax filings

ASSURANCE

  • Preparation of audited, reviewed, or compiled financial statements

  • Assistance with bank loan covenant requirements, office lease requirements, and additional assurance requirements

  • Agreed-upon procedures

  • Employee benefit plan audits

CFO ADVISORY

  • Our full-service offering

  • Bring the practice advisory, accounting, financial, and tax expertise directly into your practice - without the full-time expense of highly qualified financial employees

  • Take your growing practice to the next level financially by utilizing the expertise of multiple CPAs, allowing us to handle the numerous facets of your practice's finances

  • For the professionals that utilize our CFO Advisory services, our #1 priority is maximizing value for the owner(s) of the practice

PRACTICE ADVISORY & MANAGEMENT

  • Entity selection assistance

  • Ownership structuring

  • New practice formation and business considerations

  • Relationships with bankers, attorneys, financial advisors, and insurance agents to help with practice startup needs

  • Loan negotiation assistance

  • Operating agreement assistance

  • Succession planning

  • Valuation assistance

FINANCIAL ADVISORY

  • Retirement planning, including assistance with setting up plans that maximize tax deferral opportunities for the owner(s)

  • Profitability & expenditure review

  • Financial planning & budgeting

  • Cash flow modeling

  • Lease vs. buy analysis

410-268-6154     |     410-269-5426     |     brandon@nlvw.cpa

60 West Street, Suite 205, Annapolis, MD 21401

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