It's the peak of busy season in the accounting world and the LBA Haynes Strand team is committed to helping you reduce your tax burden as much as possible. With the ever-changing tax laws, our principal members and staff work diligently to stay up-to-date and keep you informed of strategies that can help save you the most.
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Outsourced accounting services offered by CPA firms are designed to offer flexible, scalable, bookkeeping solutions to businesses and institutions of every size. Whether you are a start-up or an established company, growing your business or sustaining the success of your organization is likely your overall goal. In order to achieve this, business owners must make sure that they have a strong, reliable accounting function in place.
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Tucker the Turkey trotted into some accounting trouble with his internet search engine business called GOBBLE. So Tucker decided to turkey call the accounting professionals at LBA Haynes Strand. After a couple of hours, the LBA Haynes Strand team invited Tucker to come to the office so they could better understand his business. At the office, Tucker met with the Firm Members who wanted to talk business, but Tucker just wanted to talk turkey. The Members thought that since Tucker’s fixed assets were up in the air, that Tucker should turkey call his business partner at GOBBLE, Smokey. So Tucker gave his business partner, Smokey, a BING. Smokey was delighted to help out his best friend and business partner but thought that this might be a conversation for their other business partners as well. He called Buddy, who called Waddle, who called Tom; before you knew it, the ‘Butterball Effect’ exploded.
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According to Accounting Today, the average growth rate of a CPA Firm in the Southeast United States in 2013 was 7.94%. This ranks among the highest growth rates in the country. The Southeast region includes, North Carolina, South Carolina, Georgia, Tennessee, Arkansas, and Kentucky. There are a couple reasons why the growth rate is so significant. One reason is because firms in the Southeast understand how to grow through mergers and acquisitions. The second reason is because of these firm's providing exceptional accounting services to their clients, in turn producing referrals.
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The following 10 common internal control deficiencies found in small businesses can cause the loss or damage of assets, loss of resources, and a decline in revenue. These deficiencies can easily be rectified by slightly changing or modifying existing processes or introducing basic internal controls:
You might have tossed around the idea of outsourced accounting, but you always came to the same conclusion: Why hire an outside firm when your single, in-house accountant seems to get the job done fine? Well, take a look at the bigger picture: