Our certified public accounting firm has offered a wide range of services to our individual, non-profit and business clients in Akron, Cleveland, Canton, Massillon, Medina, and many other Northeast Ohio communities since 1986. Our clients benefit from getting personalized, high-quality service throughout the year. The following are examples of the types of clients we serve:
Below we have listed the services that we offer to our clients along with a brief description. As the list is not all-inclusive, please feel free to inquire about a service if you do not see it listed, or if you are interested in learning more about how Levin Swedler Kennedy can be of service to you or your company. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Assurance, Financial Reporting, and General Accounting Services
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel can not be compromised. Meaningful, well-organized financial records ensure that your organization's operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
*General ledger & financial statement preparation
*Accounting system setup for new businesses (QuickBooks, Peachtree, etc.)
Contact us for assistance with the setup and implementation of QuickBooks and Peachtree accounting systems, as well as ongoing support.
*Personal financial statements
Audits, Reviews and Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your organization's profitability and efficiency. We provide financial reporting services at all three levels of assurance:
*Audit - an intensive examination with the highest level of assurance and the expression of an opinion that financial statements are presented in accordance with generally accepted accounting principles (GAAP)
*Review - analytical procedures and discussion with your personnel conducted to provide limited assurance on the financial statements
*Compilation - client financial information is presented in an appropriate financial statement format
Cash Flow & Budgeting Analysis
A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company's financial condition, estimate financing requirements, and track cash-flow sources and uses.
Certified QuickBooks ProAdvisor
Our firm has a certified QuickBooks Pro Advisor on staff that can assist you in QuickBooks setup, support, and reporting on site or in our Akron, Ohio office.
Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead an organization to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your organization's financial goals.
Application for Tax-Exempt Status
Applying for tax-exempt status can be an arduous and time-consuming process with long-standing ramifications for your Organization. Contact us to utilize our experience in making the process as straightforward as possible.
Business Entity Selection
The legal form(s) of entity that your business or businesses take (e.g. "S" corporation, sole proprietorship, limited liability company, etc.) is a crucial decision that can have longstanding tax implications, positive or negative. We can assist you in developing the proper tax structure for your business ventures.
Business Succession Planning
Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company's day-to-day operations. With a solid background in tax and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.
Whether you are thinking of buying a new business or are in the midst of a difficult divorce, the amount attached to the value of your business is important. Our team can provide useful and objective analysis to assist you in the valuation of any closely held business in which you have an interest.
Contact Gary Levin with questions about our business valuation services.
Effective estate 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.
A properly structured financial plan enables you to face any financial challenge that presents itself throughout your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.
Fraud Prevention & Detection
We use forensic accounting techniques in analyzing financial records in conjunction with fraud and theft investigations. In part these techniques are used to produce a report estimating the extent of financial loss and accounting irregularities where fraud has occured.
Internal Control Evaluations
Contact us for information on how we can help design, evaluate and/or monitor internal controls to protect your organization from employee theft.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your organization's management team develop long-term objectives and specific strategies to facilitate your organization's future growth and success.
Other Consulting Services
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. A few other examples of the types of consulting services we provide are:
*Accounting software selection and implementation
*Buying/selling a business
*Financial and retirement decisions
Employee Benefit Plans
Employee benefits are an increasingly complex area facing business owners today. Not keeping your qualified plan(s) in compliance with ERISA and/or Department of Labor (DOL) and Internal Revenue Service (IRS) regulations can be a costly misstep. Levin Swedler Kennedy is a member of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center. This is a firm-based voluntary membership center for eligible CPA firms that agree to adhere to the center membership requirements. Our experienced and highly-trained team of employee benefit plan professionals can provide invaluable expertise in this area, including the following services for privately-owned businesses:
*DOL/IRS notice response
*DOL/IRS audit representation
*Evaluation of the need for a small or large DOL-required plan audit
*Financial statement audits of tax qualified 401(k), profit sharing, ESOP, and health & welfare benefit plans
*Plan design, internal control, and operational consulting, including participant notification requirements
*Assistance with election option choices in prototype plan and volume submitter plan adoption agreements and amendments
*Plan tax return preparation, review, and filing (IRS Form 5500 series and schedules)
*Preparation or review of plan summary annual reports
*Third party service provider assessment
*Assistance with employee census information updates for third party service providers
*Review of annual IRS-required minimum coverage, nondiscrimination, contribution limitation, and top heavy testing
*Plan bookkeeping and preparation of participant statements (for non-audit clients only)
Litigation support involves the quantification of economic damages concerning existing or pending litigation using accounting and auditing techniques. We have experienced, competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that ensures our clients that they are being properly represented before various federal and state tax agencies.
Contact us for more information on IRS representation services.
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 developments in tax law to 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. Our significant investment in tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including:
- Non-profit Organizations
- Estates, trusts, and gifts
We prefer to take a proactive versus a reactive approach to tax services. By keeping current on new tax laws and pending legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liability.