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LB Carlson has a dedicated team of seasoned professionals that can help you innovate and grow your organization. We can sit beside you as a consultant in board meetings and help with important daily decisions. Your organization can benefit from our expertise in the Health and Human Services industry and being with a firm that understands your accounting and tax needs.

Industry-Specific Services

  • Accounting Outsourcing: We can assist with preparing monthly reconciliations and financial statements, enhancing your internal controls, or step in as a contract controller/CFO.
  • Accounting Software: We have extensive knowledge with QuickBooks, Peachtree, and other accounting software.
  • Payroll Processing: Our payroll professionals can handle all of your organization’s payroll matters including preparing your federal and state quarterly payroll tax returns.
  • Attest Services: Our highly skilled and experienced professionals provide audit, review and compilation services. Providing financial statements in a timely and accurate manner is our commitment.
  • Tax Services: Our professionals have intensive experience preparing tax returns and handling all levels on tax related issues that your organization may encounter.
  • Consulting: Here at LB Carlson, we can help you start your organization or help you design and implement a succession plan. We can assist you with benchmarking, compensation planning, and litigation support. We can be there for every step.

Related Posts

SBA issues interim final rule on PPP

On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance.

PPP Forgiveness Form Released by SBA, Includes Changes

The Small Business Administration (SBA) has released its long-awaited Paycheck Protection Program (PPP) forgiveness form for borrowers. The release on May 15 brought with it significant changes to the interpretation of some components of forgiveness that were not previously known.  

IRS Clarifies Payroll Tax Deferral Relief and Expands Relief for those Using the PPP

The CARES Act allows all employers to defer the deposit and payment of the employer’s share of social security (SS) taxes (6.2%) and self-employed individuals to defer payment of certain self-employment taxes.  The timing of the deferral will depend in whether or not the employer receives a loan under the Payroll Protection Program

Lease Standard

On April 8, 2020, the Financial Accounting Standards Board voted to delay the effective date of ASC 842, Leases, an additional year. 

The Top 10 Questions about the Tax Deadline Extension

It was announced on March 20 that Tax Day would be postponed from April 15 to July 15 to coincide with the delayed tax payment deadline at the direction of President Trump. Treasury Secretary Steven Mnuchin announced the postponement via Twitter, stating that all taxpayers and businesses will have until July 15 to file and make payments without interest or penalties.

Many states are still announcing their response to the deadline. Due to COVID-19, Minnesota is providing additional time until July 15, 2020, for taxpayers to file and pay 2019 Minnesota Individual Income Tax without any penalty and interest.  Minnesota has not extended 2020 first and second quarter taxes. We know you have lots of questions. Below is a summary of the 10 most common questions and the IRS’s response.