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OUR SERVICES

TAX PREPARATION & PLANNING


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. Our significant investment in 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. 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. We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to: Tax Planning & Return Preparation (Federal & State) • Individuals • Corporations & S-Corporations • Partnerships, LLC's & LLP's • Sole-Proprietorships & Single-Member LLC's • Estates, Trusts & Gifts • Not-For-Profit Organizations • Texas Margin Tax • Planning & Preparation • Sales Tax Preparation • Business Personal Property Tax Rendition • Taxing Authority Representation • Divorce and Support Issues • Tax effects of buying/selling a business, other business assets and/or personal assets




BOOKKEEPING


Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping. No matter what size your business, it is both cost effective and efficient to have us keep track of your financial data. We are a QuickBooks ProAdvisor firm. We specalize in Quickbooks and Quickbooks online, but are also familiar with Quicken, Peachtree, and other bookkeeping programs, which allows us to support your bookkeeping needs. Bookkeeping services include: • Accounts Payable • Accounts Receivable • General Ledger • Income Statement • Balance Sheet • Bank Reconciliation • Data Entry to QuickBooks • Setup and/or Conversion to QuickBooks




PAYROLL PROCESSING


Paying your employees is an essential part of any working business. We can offer you all the tools necessary to make your payroll as easy as possible. Our comprehensive payroll service covers everything from paying your staff with paper checks or direct deposit to quarterly and annual payroll report preparation and filing. We use Accounting CS payroll software, which gives us the ability to handle any size payroll. In addition to Accounting CS, we are also familiar with T-Sheets, Creative Solutions, and Intuit to name a few and can assist your payroll needs amongst these platforms. If you manually prepare your own payroll, our After-the-Fact payroll service can use your raw payroll records to produce the quarterly and annual reports you are required to file. In addition, we process reports necessary for your domestic/household employees. Types of payroll services include but are not limited to: • Quarterly Payroll Reports (Form 941) • Quarterly TWC Reports (C-3) • Annual Payroll Reports (Forms 943 & 944) • Federal Unemployment Report (Form 940) • Forms W-2 & W-3 • Payroll Tax Deposits (EFTPS) • Payroll Checks (Paper or Direct Deposit) • Forms 1099 & 1096




ESTATE & GIFT PLANNING


Effective estate & gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. 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.




OIL & GAS JOINT BILLING (JIB)


Every industry has its own rules, regulations and peculiarities. Perhaps none as complex as the oil and gas industry. Whether you are an operator or an investor in any aspect of oil and gas, we can provide you with a number of specialized accounting and tax services. Our many years of experience in the industry give us unique expertise in joint interest billing and revenue accounting compliance. We also offer full oil and gas revenue distribution services, including: • Operating statements for royalty, overriding and working interest • Issuing monthly revenue checks with netout capabilities by owner and well • Accounts payable and accounts receivable processing • Issuance of monthly reports and year-end 1099 tax reports for owners and vendors • Completion of Federal 1099’s with e-file capability • Tracking of 1 – 500 operated and non-operated wells




BUSINESS FORMATION


Choosing the form of entity of your business is an important decision that can have longstanding tax implications. We will help you determine the most advantageous form of business for your company by evaluating the pros and cons of each entity type. Once you have chosen, we can get you on the road to success by recommending excellent attorneys, applying for employment identification numbers, and offering payroll & bookkeeping options. Types of entities include but are not limited to: • Sole-Proprietorship • Partnership - LP, LLP & LTD • Corporation • S Corporation • Limited Liability Company (LLC) • Joint Ventures • DBA's • Trust • Not-For-Profit




CONSULTING


Businesses can succeed or fail on the strength of their business decisions. In today's competitive and technology-driven economy, it's critical that the right decision is made - the first time. Having an objective sounding board is one of the best ways to achieve clarity when making complex decisions that affect your business's future. Our consulting expertise can help you make an objective analysis for a new business purchase, equipment leasing, or operational systems integration -- among many others. And, our up-to-date knowledge of tax rules can help your business make the decision that makes the most "tax sense." Put our team of seasoned consultants and tax planners to work for you today. Our business and financial consulting expertise includes: • Business Planning & Organizational Development • Buy/Sell Agreements • Employee Benefit Plan Review • Insurance Review • Lease/Buy Analysis • Mergers & Acquisitions • Ownership Succession Management




RETIREMENT PLAN SELECTION


Choosing and administering benefit plans for you and your employees is a complex process. We will help you develop, implement, and administer your benefit, retirement, and profit-sharing plans with an eye toward maximizing the tax advantages. We can consult with you on choosing the proper retirement plan for you. Types of plans include but are not limited to: • Traditional IRA • Roth IRA • Simplified Employee Pension (SEP) • Simple IRA • Solo 401(K) • 401(K) • Profit-Sharing Plan • Defined Benefit/Contribution Plan • Cash Balance Plan




LIFE INSURANCE


Finding the right life insurance can mean finding financial security while providing unique opportunities to help you reach your goals - whether personal or professional. How much insurance? What type? How do I make the most of my money? We can help you answer these questions. Types of plans for INDIVIDUALS AND FAMILIES include but are not limited to: • Estate Plannng • Wills and Trusts • Irrevocable Life Insurance Trusts • Annual/Lifetime Gifting • Family Limited Partnerships & LLC's • Generational Skipping Planning • Income Tax Strategies • Retirement Planning • Charitable Giving and Trusts • Premium Financing Types of plans for BUSINESS OWNERS AND THEIR BUSINESSES include but are not limited to: • Business Continuity • Key Person Coverage • Executive Benefits • Deferred Compensation Plans • Supplemental Executive Retirement Plans (SERPs) • Split-Dollar Plans • Buy/Sell Agreements • Restricted Employee Benefit Agreement (REBA) • Company Owned Life Insurance (COLI)




TAX CREDITS & DEDUCTIONS


We specialize in tax credits for our business and individual clients in order to minimize overall tax liabilities. Maximizing the tax credits that are available is paramount to reducing your overall tax liability. We strive to find and apply any and all tax credits that may be available to your business or personal returns.

Here are a few credits that we specialize in, but not limited to:

  • Research & Development Credit (R&D)
  • 179D (Energy Efficient Commercial Buildings Deduction)
  • Employee Tips Credit
  • Investment Credit
  • Fuel Credit
  • Work Opportunity Credit
  • Historical Buiding Credits & Cost Segregation Studies





Lemert, Holder & Ohm offers a full range of accounting services, providing personalized, hands-on assistance for all your financial needs.