Lee A. Cole, CPA has extensive experience in providing tax services, accounting, auditing, financial consulting, business planning, business evaluations and management services. After several years of audit experience with a large accounting firm, Lee A. Cole, CPA went into practice for himself. His experience includes a broad range of industries emphasizing construction, real estate, graphic arts, and others. He has provided extensive tax and accounting services for hundreds of small businesses.
A summary of services that he and his associates provide at Lee A. Cole, CPA, P.C. is shown below.
Traditional Accounting Services
Most businesses, at any given time, operate on a routine schedule from day to day. During the smooth periods, businesses may only need the traditional accounting services such as COMPILATIONS of the financial statements (the CPA reads the financial statements for obvious errors), REVIEWS of the financial statements (the CPA uses questioning and analytical procedures to provide negative assurance on the financial statements) or AUDITS of the financial statements (the CPA issues an opinion on the financial statements based on testing of the financial records). These services are critical to most businesses and represent the majority of our practice.
Sometimes businesses fall behind in their accounting/bookkeeping and need temporary assistance in getting back on track, or perhaps, the need is permanent. In either case, the lack of this most elementary of accounting functions will stop any financial reporting system in its tracks. We can help businesses get their books in order and provide them with a system to keep them in order.
Most businesses will find themselves in need of special accounting services sooner or later. Services such as agreed upon procedures, reconstruction of records, cost studies and prospecting financial statements are among the special projects we are able to provide to businesses.
Business owners are experts at the product or service they provide to their customers. They may not be experts at running a business or being in business. Often business owners need help making business decisions, or maybe just need an experienced and understanding advisor to vent problems to and hear ideas from. Assistance with how to think through a problem or decision can be a big part of good business decision-making. Our firm helps businesses make good business decisions..
Tax Planning and Compliance
It’s not how much you earn that counts, it’s how much you keep. In many situations there is not a lot of flexibility in controlling your tax bill. It is important to know how to use the flexibility that is available. Even more important is the ability to recognize opportunities for changes to your current situation which will put you in the position with the most flexibility and therefore give you more opportunity to control your tax bill. We can examine the business entity, source of income, type of income, etc. of businesses to make sure they are keeping as much of the money they make as possible.
Benefit Plan Opportunities
A surprisingly large number of pension and employee benefit plans are available to help provide a competitive compensation package to employees and owners. This can be especially important to key management and highly technical positions. Some of these plans can provide great tax savings opportunities to businesses and/or business owners. Having someone who can sort out and explain the operation and tax impact of these plans is the first step to selecting the plan with the right benefits and the right tax consequences. Our firm will help choose the best plan for any given company.
Lee A. Cole, CPA, P.C.
7002 Graham Road, Suite 111
Indianapolis, IN, 46220