Taxes are one of the necessary costs of doing business.  However, not all businesses are alike.  A good tax consultant is one who knows the tax law and how it applies to your specific industry.  For this reason, we at Cummings, Lamont & McNamee, PLLC. have developed expertise in tax consulting and preparation services for the funeral home industry.  Whether your funeral home is a corporation, LLC, partnership or sole proprietorship, we have the knowledge and experience to help you minimize your income tax bill and assist you in preparing accurate tax returns.  We take a holistic approach to your taxes; one that considers not only the immediate effect of decisions made today, but the effect those decisions will have in the years to come.  We also help you stay compliant with ever increasingly complex federal and state income tax laws.  Work with us and we can help you answer questions like:

• What’s the proper tax treatment of our trust accounts?
• How are cash advances treated for tax reporting purposes?
• I’m considering expanding into another state.  How does that affect my taxes?
• Should I own my funeral home as a corporation, LLC, or sole proprietorship?
• What’s the best way to sell my funeral home?
• I’m thinking of taking on a partner.  What’s the best way to do that?
• I’m purchasing a funeral home property.  Who should own it; me or my funeral home?
• What can I do to reduce my tax liability?
• I’d like to pass down my business to my children.  What’s the most tax effective way of doing that?
• Do I have to be concerned about the estate tax?

We also recognize that sound financial management of your funeral home requires more than planning for and paying your taxes.  You also need to have a strong accounting and reporting system that provides you current information so you can make sound business decisions.

Experience the value of an accounting firm that knows the importance of professionalism and trusted service.  For more information, contact Ray Bald, CPA at rbald@clmcpa.com.