Our firm offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients benefit from our personalized and quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.
As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
- General ledger & financial statement preparation
- Accounting system setup for new businesses
- Personal financial statements
Audits, Reviews and Compilations
FINANCIAL ENGAGEMENT CAPABILITIES
At London & Co., LLP, we can perform various types of financial engagements including compilations, reviews and audits. We can also perform additional types of engagements on an as-needed basis (e.g., fraud investigations, internal control analysis).
London & Co., LLP regards an effective and value-added review or audit of financial statements as an ongoing process, not just a once-a-year event. Our review and audit approach is designed to enhance our understanding of our client's operations and to ensure that there are "no surprises" as a result of the annual review or audit.
Our approach is to divide the review into five stages:
1. Preliminary Planning - In this phase we develop a solid understanding of the client's operations, business and industry. This phase also includes documenting the accounting system, both EDP and manual, reviewing interim period internal financial statements and holding discussions with Management.
2. Assess Risk - The knowledge we gain in the preliminary planning phase assists us in assessing the client's financial risk. This is based on such factors as the accounting and administrative controls, areas of concern identified by Management, the business and political/legislative environment in which the client operates and the needs of the users of the financial statements.
3. Develop a Review/Audit Plan - During this phase we develop the specific review/audit procedures to conduct a thorough and effective review of the client's financial statements and make judgments about materiality levels for review/audit purposes. The review and audit are tailored to the client's needs, based on such issues as timing, the format of schedules we will need, interacting effectively with the client's staff and integrating our EDP review/audit procedures.
4. Perform the Review/Audit Plan - We conduct the specific planned review/audit procedures necessary to support our report on the client's financial statements, modifying these as appropriate to a client's specific circumstances. We normally hold periodic meetings with the client Management to report on the status of the review/audit and to present draft financial statements.
5. Conclude and Report - Once we have substantially completed our review/audit plan, including our examination of draft financial statements, we examine all significant events occurring subsequent to the end of the fiscal year, obtain recommendations from the client's Management and counsel as necessary, and issue our report on the financial statements.
We can assist you in the preparation of your financial statements in accordance with professional standards. The financial statements produced can be a useful tool for management for making financial decisions.
The key objectives of an effective personal and corporate tax strategy can be summarized as comprehensive planning and expert compliance. We will represent you on a worldwide basis by:
- Ensuring that all tax considerations are properly evaluated when business decisions are made
- Minimizing global tax payments
- Monitoring the numerous issues related to foreign income, U.S. state income, sales, payroll and other taxes
- Other specialized tax issues which may affect the client, such as the Alternative Minimum Tax or profit recognition
London & Co. professionals routinely provide all of these services to our clients, as required.
Tax Planning & Preparation
Tax planning and preparation form a winning combination for our successful individual and business clients. Whether you are an individual or a multi-tiered partnership, our experienced staff can develop tax strategies that take advantage of new tax laws and legislation.
Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.
Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
Estate & Trust Tax Preparation
We can prepare your estate, trust and gift tax returns as well as review your plan for effective estate planning. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
Pension & Profit Sharing Plans
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs...) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for Management, we can provide additional services to address the issues affecting your business. The following is just a few of the areas in which we provide these services:
- Accounting software selection and implementation
- Business Entity Selection to evaluate the pros and cons of each entity (e.g. “S” corporation, sole proprietor, limited liability company) to determine the most advantageous form of business for your company
- Business valuation capability for your business needs
- Buying/selling a business review
- Computer system review of what works best for your company needs
- Financial and retirement decisions to help you determine the best course of action
- Pension and Profit Sharing Plan review to serve the retirement needs of you and your employees
- Investment Review to help you and your investment advisor build an investment portfolio that would produce a favorable after-tax return
- Debt and Financing Services to help secure financing for your personal and business needs