Services
Successful businesses are the result of smart decisions, hard work, good timing, and a clear understanding of the finances. The latter is where L.M. Cohen & Co. can help.
At the start of your business, we will work with you to set up an accounting system that makes sense for your company and a periodic review of your financial statements for accuracy and effectiveness. We will assist you with every aspect of accounting services – from setting up your chart of accounts to compiling year-end statements to generating the financial reports you need to take your company to the next level.
L.M. Cohen & Co. provides business management services such as:
- Business succession planning
- Business valuation services
- Assistance with banking issues
- Mergers and acquisitions
- Venture due diligence
- And so much more!
We have the expertise to help you accomplish your business objectives, from start to success.
Fundamental tax preparation is the foundation of all the services that L.M. Cohen & Co. provides. We prepare all types of tax returns for individuals, businesses, trusts, estates, and not-for-profit organizations.
An important element in any financial plan is tax planning. L.M. Cohen & Co. knows the importance of tax planning and will help you accomplish all elements of a financial plan in the most tax-efficient way possible.
With our professional expertise in areas such as state and local tax, complex federal tax issues, international tax and other tax areas including sales use and payroll tax, we have the right approach to make certain that compliance requirements are met and the risk of an audit is reduced.
L.M. Cohen & Co. professionals recognize that in order to provide a quality financial statement, it is imperative to go beyond the accounting entries and focus on the underlying operations and activities that give rise to them.
Throughout the engagement, we are in direct communication with our clients - confirming assets and liabilities with financial records, transactions and invoices, in order to have full knowledge of their business and accounting system.
At the completion of our fieldwork, we will issue financial statements that have been prepared in accordance with the generally accepted accounting principles (GAAP) and which will contain all required disclosures.
L.M. Cohen & Co. uses the understanding gained from the financial statement preparation process to advise our clients on identifying new ways to grow their business and increase efficiencies.
Closely-held and family-owned companies can often present special challenges to those who run them. For this reason, it is beneficial to the success of these types of companies to involve a professional advisor.
Some of the skill sets of L.M. Cohen & Co. that are helpful to closely-held and family-owned businesses include communication, conflict resolution, family structuring, finance, accounting, leadership and management development and strategic planning.
The maturity of your business often depends on the guidance received in the infant stage. We will recommend and guide you through easily-executed techniques to help you with the success of your business.
At L.M. Cohen & Co. we recognize that a fiduciary can have complicated responsibilities. Depending on the complexity of the property, how it is owned, the provisions of the decedent’s will, and the applicable laws, we know it can be extremely overwhelming.
We handle all aspects of trust and estate administration and compliance. Our services include:
· Preparation of Federal and State gift, estate, fiduciary and charitable trust tax returns
· Review and analysis of wills and trusts
· Creation and implementation of business succession plans
· Planning for Individual Retirement Accounts (IRAs) and qualified plan distributions
· Working with attorneys, executors, trustees and beneficiaries to minimize gift, estate and income taxes
Our experience allows us to present various planning vehicles to provide for the financial well-being of our clients' current and future generations.
The search for the right accounting software can be intimidating and often times confusing. Our experts can guide you with the installation of your software to ensure the product is set up to meet the specific goals and needs of your business. Our professionals have experience with many software packages and we can help you choose the software that is right for you. We understand that QuickBooks® may not always be the right software for your business and our team is prepared to help you implement most software packages on the market.
L.M. Cohen & Co. has extensive relationships within the banking and factoring communities.
We can assist you in finding the right financing solution for your business.
Whether starting a new business or if you have been in business for a long time, a projection and cash flow analysis is a vital part of running your business.
Our staff is well versed in preparing forecasts, projections, and cash flow analysis and will work closely with you to build a model to help you understand your cash flow and monitor your business against the plan.
If you are an individual with investable assets in excess of $1 million, you are considered a High Net Worth Individual (HNWI). Although the exact figure differs by financial institution and region, one fact remains: the more money a person has, the more work it takes to maintain and preserve those assets.
The tax professionals of L.M. Cohen & Co. have many years of experience meeting the unique needs of such affluent individuals. We offer personalized services in investment management, estate and trust planning, tax planning, and more. We assist our HNWI clients with creating and executing a comprehensive wealth management plan that maps out where to allocate their assets while protecting them from risks and liabilities.
Our devotion to detail and highly personalized service are what sets us apart from many accounting firms.
The IRS rarely gives up without a fight. They use intimidation tactics in an attempt to persuade you to make a deal with them on their terms.
As a client of L.M. Cohen & Co. we will submit your Letter of Representation and Power of Attorney to the IRS and/or State which legally requires them to deal with us, not you. Whether you are an individual or business who may not have filed your income tax return for previous years, or have received an audit notice, or have a tax lien against you, our tax professionals have experience in personalizing a strategy to resolve your tax issues and compromise a favorable outcome.
We have established a respectful relationship with many revenue agents through open communication and successful IRS and State representations. At L.M. Cohen & Co., we pride ourselves in achieving a positive resolution for our clients while examining every available option to minimize taxes.
Many companies find that the best way to get ahead is to expand ownership boundaries through mergers and acquisitions. But a majority of companies and investors are not aware of the different ways in which these deals are executed.
L.M. Cohen & Co. recognizes that one size does not fit all and are prepared to help you understand the distinction between mergers and acquisitions and guide you in the direction that is best suitable to your needs.
We will assist you in assessing the value of the company and give a complete analysis of the costs and benefits associated with the deal.
L.M. Cohen & Co. provides professional expertise in areas such as federal, state, and local tax as well as international tax. L.M. Cohen & Co. will help you understand, prepare, and plan all of your international tax needs. We will help you accomplish all elements of a financial plan in the most tax-efficient way possible.
We have the right approach to make sure that all international tax requirements are met and the risk of an audit is reduced.
To be exempted from federal taxes, nonprofit organizations have to be in compliance with general and specific government regulations. Our familiarity with not-for-profit organizations provides us with the perspective needed to identify the best practices to meet these requirements.
The professionals of L.M. Cohen & Co. recognize the particular business challenges confronting not-for-profit organizations such as resource mismanagement, unreliable funding, and tax exemption issues.
Our not-for-profit clients include private and community foundations, religious organizations and schools.
Successful businesses are the result of smart decisions, hard work, good timing, and a clear understanding of the finances. The latter is where L.M. Cohen & Co. can help.
At the start of your business, we will work with you to set up an accounting system that makes sense for your company and a periodic review of your financial statements for accuracy and effectiveness. We will assist you with every aspect of accounting services – from setting up your chart of accounts to compiling year-end statements to generating the financial reports you need to take your company to the next level.
L.M. Cohen & Co. provides business management services such as:
- Business succession planning
- Business valuation services
- Assistance with banking issues
- Mergers and acquisitions
- Venture due diligence
- And so much more!
We have the expertise to help you accomplish your business objectives, from start to success.
Fundamental tax preparation is the foundation of all the services that L.M. Cohen & Co. provides. We prepare all types of tax returns for individuals, businesses, trusts, estates, and not-for-profit organizations.
An important element in any financial plan is tax planning. L.M. Cohen & Co. knows the importance of tax planning and will help you accomplish all elements of a financial plan in the most tax-efficient way possible.
With our professional expertise in areas such as state and local tax, complex federal tax issues, international tax and other tax areas including sales use and payroll tax, we have the right approach to make certain that compliance requirements are met and the risk of an audit is reduced.
L.M. Cohen & Co. professionals recognize that in order to provide a quality financial statement, it is imperative to go beyond the accounting entries and focus on the underlying operations and activities that give rise to them.
Throughout the engagement, we are in direct communication with our clients - confirming assets and liabilities with financial records, transactions and invoices, in order to have full knowledge of their business and accounting system.
At the completion of our fieldwork, we will issue financial statements that have been prepared in accordance with the generally accepted accounting principles (GAAP) and which will contain all required disclosures.
L.M. Cohen & Co. uses the understanding gained from the financial statement preparation process to advise our clients on identifying new ways to grow their business and increase efficiencies.
Closely-held and family-owned companies can often present special challenges to those who run them. For this reason, it is beneficial to the success of these types of companies to involve a professional advisor.
Some of the skill sets of L.M. Cohen & Co. that are helpful to closely-held and family-owned businesses include communication, conflict resolution, family structuring, finance, accounting, leadership and management development and strategic planning.
The maturity of your business often depends on the guidance received in the infant stage. We will recommend and guide you through easily-executed techniques to help you with the success of your business.
At L.M. Cohen & Co. we recognize that a fiduciary can have complicated responsibilities. Depending on the complexity of the property, how it is owned, the provisions of the decedent’s will, and the applicable laws, we know it can be extremely overwhelming.
We handle all aspects of trust and estate administration and compliance. Our services include:
· Preparation of Federal and State gift, estate, fiduciary and charitable trust tax returns
· Review and analysis of wills and trusts
· Creation and implementation of business succession plans
· Planning for Individual Retirement Accounts (IRAs) and qualified plan distributions
· Working with attorneys, executors, trustees and beneficiaries to minimize gift, estate and income taxes
Our experience allows us to present various planning vehicles to provide for the financial well-being of our clients' current and future generations.
The search for the right accounting software can be intimidating and often times confusing. Our experts can guide you with the installation of your software to ensure the product is set up to meet the specific goals and needs of your business. Our professionals have experience with many software packages and we can help you choose the software that is right for you. We understand that QuickBooks® may not always be the right software for your business and our team is prepared to help you implement most software packages on the market.
L.M. Cohen & Co. has extensive relationships within the banking and factoring communities.
We can assist you in finding the right financing solution for your business.
Whether starting a new business or if you have been in business for a long time, a projection and cash flow analysis is a vital part of running your business.
Our staff is well versed in preparing forecasts, projections, and cash flow analysis and will work closely with you to build a model to help you understand your cash flow and monitor your business against the plan.
If you are an individual with investable assets in excess of $1 million, you are considered a High Net Worth Individual (HNWI). Although the exact figure differs by financial institution and region, one fact remains: the more money a person has, the more work it takes to maintain and preserve those assets.
The tax professionals of L.M. Cohen & Co. have many years of experience meeting the unique needs of such affluent individuals. We offer personalized services in investment management, estate and trust planning, tax planning, and more. We assist our HNWI clients with creating and executing a comprehensive wealth management plan that maps out where to allocate their assets while protecting them from risks and liabilities.
Our devotion to detail and highly personalized service are what sets us apart from many accounting firms.
The IRS rarely gives up without a fight. They use intimidation tactics in an attempt to persuade you to make a deal with them on their terms.
As a client of L.M. Cohen & Co. we will submit your Letter of Representation and Power of Attorney to the IRS and/or State which legally requires them to deal with us, not you. Whether you are an individual or business who may not have filed your income tax return for previous years, or have received an audit notice, or have a tax lien against you, our tax professionals have experience in personalizing a strategy to resolve your tax issues and compromise a favorable outcome.
We have established a respectful relationship with many revenue agents through open communication and successful IRS and State representations. At L.M. Cohen & Co., we pride ourselves in achieving a positive resolution for our clients while examining every available option to minimize taxes.
Many companies find that the best way to get ahead is to expand ownership boundaries through mergers and acquisitions. But a majority of companies and investors are not aware of the different ways in which these deals are executed.
L.M. Cohen & Co. recognizes that one size does not fit all and are prepared to help you understand the distinction between mergers and acquisitions and guide you in the direction that is best suitable to your needs.
We will assist you in assessing the value of the company and give a complete analysis of the costs and benefits associated with the deal.
L.M. Cohen & Co. provides professional expertise in areas such as federal, state, and local tax as well as international tax. L.M. Cohen & Co. will help you understand, prepare, and plan all of your international tax needs. We will help you accomplish all elements of a financial plan in the most tax-efficient way possible.
We have the right approach to make sure that all international tax requirements are met and the risk of an audit is reduced.
To be exempted from federal taxes, nonprofit organizations have to be in compliance with general and specific government regulations. Our familiarity with not-for-profit organizations provides us with the perspective needed to identify the best practices to meet these requirements.
The professionals of L.M. Cohen & Co. recognize the particular business challenges confronting not-for-profit organizations such as resource mismanagement, unreliable funding, and tax exemption issues.
Our not-for-profit clients include private and community foundations, religious organizations and schools.