Information Technology (IT) firms provide a number of services that range from software support to computer systems design. In order to be successful, IT firms must react quickly to evolve in an ever-changing landscape. It is important that IT firms align themselves with experts in income tax, financial planning, risk management, capital and insurance services in order to have the flexibility to grow. This enables IT firms to focus on their core business and remain competitive while receiving sound advice on the implications of business decisions.
The professionals at Smolin Lupin provide support, counsel and advice for small, medium and large businesses in the Information Technology sector. Our range of services include:
Accounting and Tax Advice
Accounting services go far beyond bookkeeping. Our team can conduct audits, compile financial statements and create personalized reports. We make getting to know you and your business a priority. This way we are able to provide specifically tailored ways your business can be more profitable and minimize tax expense while adhering to all federal, state and local tax laws.
Tax laws at the local, state, federal and international levels have become increasingly complicated – and are continually changing. It can be difficult for firms to manage the potential tax implications of their business decisions or to anticipate their tax needs. Smolin Lupin provides all of these services.
Our tax experts stay abreast of changes in tax laws and are able to provide detailed information to you based on the unique needs of your business. Our professional experience allows our team to provide sound tax advice given the current state of your business and where you intend the business to be in the future.
Assistance with Financing
Access to financing and capital is a requirement for the success of IT businesses of all sizes. Smolin Lupin can assist with obtaining financing or funding by partnering with you to create a loan or capital proposal. Our experience enables us to know what venture capitalists, banks and lending institutions are looking for in a proposal. Our team can assist with the preparation of the loan request and the presentation. During the presentation process, our team of experts can help to substantiate your financial position and outlook in order to be best positioned for financing.
Assurance services are all provided with a focus on the specific needs of your business. By understanding your business, your goals and your definition of success, the Smolin Lupin team can help to create a plan that is tailored to your needs.
Smolin Lupin offers a number of assurance services including:
- Audit Services
- Reviews & Compilations
- Regulatory Compliance
- FAR Compliance
- Audits of Employee Benefit Plans
Business Interruption Support
Business interruption, or the loss of profit due to a disaster, is a real concern for Information Technology firms. Smolin Lupin’s experience allows our team to address documentation of losses for litigation or insurance claims. Our team can provide services both to support a business interruption claim or to help defend a business in a business interruption claim as warranted by your specific needs.
Compliance services include a number of reporting functions that are required by federal, state or local governments. Our catalog of compliance services include:
- Reporting for payroll taxes
- Preparation of 1099 forms
- Preparation of federal and state income tax returns
In addition to completing these items accurately and in a timely fashion, our experts can help you plan for upcoming changes in compliance laws.
Businesses should take reasonable steps before buying or selling an asset. This is especially important in the Information Technology sector where mergers and acquisitions are commonplace.
Smolin Lupin’s team provides due diligence services and keeps our clients engaged throughout the process. The goal of our team is to provide a value-added service that helps to understand the real financial impact and potential of the acquisition. Services provided include:
- Creation of a strategic plan based on the organization’s needs.
- Identification of issues and long term outlook.
- Assistance with due diligence.
- Creation of a post-merger business plan.
- Development of financial statements for the newly formed business.
- Planning for the future, including tax mitigation and financial planning.
Because Information Technology is an ever-changing field, it is important to be able to forecast the business’ future financial state. Our team specializes in “what-if” planning scenarios in order to provide your organization with the information it needs to plan for the future and adjust operations as needed.
Incentive Compensation Programs
Incentive compensation programs have been proven to bring out the best in employees. It is important to structure an incentive compensation program that meets the needs of your business and motivates employees.
Smolin Lupin can help your organization identify the best type of incentive program to use, the financial implications of the plan and to roll out the plan once it has been established.
In the Information Technology field, risk management is all about protecting data, anticipating and correcting security risks. Financially speaking, risks can come from a number of sources including:
- Unstable financial markets
- Legal liabilities
- Accidents and natural disasters
- Credit risks
- Project failure
The goal of risk management is to identify risks, evaluate how those risks can impact the business and create a plan to address those risks. Establishing policies and procedures and creating an environment of transparency within an organization can help to minimize risks.
The consultants at Smolin Lupin work with your executives to evaluate the business risk at an organizational level. The team can help to evaluate current sources of risks and to anticipate risks that will arise in the future due to the ever-changing landscape of the Information Technology sector. Our experience allows us to create risk management solutions that are uniquely crafted to the specific needs of your business.