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Accounting Services

Accounting Bookkeeping Payroll Services

Minneapolis & St. Cloud, MN

LB Carlson is among only a few CPA firms of our size to offer a strategic bookkeeping and payroll option. In addition, we provide a full range of accounting services, custom reporting and accounting systems solutions and support. We’ll even coordinate monthly financial/management meetings.

Consider us a trusted accounting resource that goes beyond the numbers to apply real business solutions to your individual and corporate needs.

QuickBooks Bookkeeper | Payroll Outsourcing | QuickBooks Accountant | QuickBooks Pro | Payroll Services for Small Business | CPA Tax Preparation

Connect with Carlson today.

ACCOUNTING OUTSOURCING
We want to be your accounting department. Many businesses are finding it is cost effective to outsource some or all of their accounting and bookkeeping functions. Whether it is reconciling your month end, helping enhance your internal controls, mentoring your controller, or stepping in as a part-time CFO, we can offer the right amount of support a growing company needs. Before you hire your next controller or CFO, contact our consultants to discuss the benefits of outsourcing.
ACCOUNTING SOFTWARE
We have extensive knowledge in QuickBooks and have QuickBooks Pro Advisors on staff to make your job easier.

We are also proficient in a variety of other accounting software packages including Peachtree, JobBOSS, Great Plains and Platinum. Whether you are using a well-recognized accounting software brand or a lesser-known brand, we will work with you to maximize your accounting software.

BOOKKEEPING
Our bookkeeping services can help your business grow and allow you more valuable time to run your business. Recognizing that all companies are different, we customize the services we provide to meet your business needs. Let our bookkeeping professionals find ways to save you money through fiscal efficiencies, taxes, and financing by preparing and analyzing financial statements or executing your monthly accounting functions. You can rely on us to take care of all of your bookkeeping needs.
FINANCIAL REPORTING
Are you gathering information in your software system, only to find that you cannot get the reports you need to make business decisions? Are some of your vital reporting needs not being met with your existing software? We can help you use the powerful features of Crystal Reports to help you manage, share and deliver your critical business reports. From minor changes of existing reports to complete report design, our consultants will work with you to harvest the information locked in your software.
PAYROLL PROCESSING & TAX COMPLIANCE
Does it seem like your payroll returns are due at the end of every month rather than every quarter? Do W-2s and year-end reconciliations take longer than you’d like? Our dedicated payroll professionals at LB Carlson can relieve this burden, preparing your federal and state quarterly reports at a competitive rate.

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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.

Strategic Costing Review – Understanding Costs to Gain Competitive Advantage

Current market conditions around COVID-19 have reduced workload and forced difficult cost-saving decisions.  In addition, heightened marketplace competition makes it critical that you understand what really drives your profits.  A strategic cost review grounded in the knowledge of your cost structure, workflow and productivity measures can help managers focus on activities that bring the most value and allow you to align your pricing strategies to maximize profits.

CARES Act: Understanding the Paycheck Protection Provision (SBA 7a Loan) Program

The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27 provides $349 billion in funding for the Small Business Administration (SBA) in an effort to provide assistance and relief to America’s small businesses struggling under the weight of COVID-19. The Act included a paycheck protection provision for small businesses by providing additional funding to the SBA for specific areas of need and expanding the SBA’s 7(a) loan program.

Tips and Considerations for Small Businesses Applying for an SBA Disaster Loan

Small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA). President Trump has called for an additional $50 billion in funding to the SBA’s lending program from Congress. While the $50 billion is not yet approved, the SBA can issue an Economic Injury Disaster Loan declaration, thanks to the Coronavirus Preparedness and Response Supplemental Appropriations Act.

Knowing what to expect before starting the loan process will help prevent unnecessary errors and rework. Completing the application process quickly and accurately will be key as there will be high demand and processing times will likely increase. We’ve put together the following summary of what business owners can expect when applying for an SBA loan.