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Services

We provide a wide range of services to individuals and businesses in a variety of industries. We strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:


Business Services

LGH Consulting Inc., has extensive experience in providing traditional financial reporting services. Our capabilities include:

  • Advice on reporting issues
  • Design of internal accounting controls
  • Payroll preparation
  • Payroll and sales tax returns
  • Bank reconciliation
  • Accounts payable and accounts receivable records
Tax Services

Our tax professionals' goal is to help our business and individual clients minimize their federal and state tax liabilities. We provide a personalized approach in reviewing each client's tax situation. We also offer in-depth tax planning analysis for your unique business or personal circumstances. Our Tax Services encompass:

  • Tax return preparation
  • Planning and structuring alternatives
  • Representation before IRS and State tax boards
  • U.S. residents, non-residents, and aliens

Litigation Support

Built upon our breadth of accounting and financial expertise, LGH Consulting Inc., Litigation Support services add substantial value to law firm clientele. We assist in:

  • Business valuations
  • Discovery assistance
  • Financial analysis
  • Case analysis
  • Expert testimony

Services for Individuals

Tax Services

Our tax professionals' goal is to help our business and individual clients minimize their federal and state tax liabilities. We provide a personalized approach in reviewing each client's tax situation. We also offer in-depth tax planning analysis for your unique business or personal circumstances. Our Tax Services encompass:

  • Tax return preparation
  • Planning and structuring alternatives
  • Representation before IRS and State tax boards
  • U.S. residents, non-residents, and aliens

Financial Consulting & Planning for your family's long-term financial security is becoming increasingly important. To assist our clients in this area, LGH Consulting Inc., provides comprehensive personal financial and estate planning services. Our services are tailored to meet each client's specific needs, which may involve:

  • Financial goal setting and budgeting
  • Cash flow management
  • Debt restructuring
  • Insurance/ Risk management
  • Retirement planning
  • Investment strategies
  • Financing children's education
  • Estate plans

Homeowner's Association

The IRS has issued minimal guidance, and no directly-related cases have gone to court. This is why some confusion exists in the area of HOA tax returns.

The following is from Practitioners Publishing Company's CIRA Guidebook (Common Interest Realty Association) explaining Revenue Ruling 70-604. Also included is IRS Ruling 75-371 where the IRS has issued guidelines for reserve fund accumulations.

Homeowners Associations (HOAs) are unique entities from an accounting and financial perspective. They must establish an annual budget to maintain facilities and provide for Association operations. At the same time, HOA's are required by law to establish reserves for long term needs, a requirement faced by few business types or nonprofit entities. Special financial reporting requirements are also required of HOA's.

We were included in the first group of recipents of the Community Association Institute designation as a Reserve Specialist.

HOA Board members and officers are well aware of these difficulties. They are typically volunteers with limited time available to attend to the numerous challenges at hand. HOA Boards face a wide variety of financial issues:

  • Maintaining the property, while not exceeding operational and reserve account allocation
  • Staying within an annual operational budget · Planning for expected life of landscaping, roofs, road surface, and other common area assets
  • Funding long-term asset replacement
  • Minimizing assessments
  • Avoiding the severe impact of inadequate reserve funding
  • Complying with State financial reporting and reserve study requirements

Most Boards rely upon their professional advisors to assist in making these decisions. As such, inadequate advice can have major implications. This requires a specialized expertise, which is even more important because of the significant decisions that must be made with limited money to spend. For example, reserve studies require accurate projections so that the proper dues level can be established.

LGH Consulting Inc., provides the specialized HOA expertise that Associations and management companies need.

Since our inception in 1977, we have served over 5,000 Homeowners Associations, completing over 5,000 audit reports and over 1,200 reserve studies.

Due to our HOA expertise, we can be particularly beneficial to HOAs in providing the information you need to make important financial decisions and comply with government regulations. Long-term planning is made easier with our user-friendly reserves studies, which explain basic assumption, definitions and projections in a simplified manner.

Our services to HOAs include:
  • Reserve studies
  • Tax returns
  • Annual budget projections
  • Financial consulting

Estate Planning

Each of us realize that planning for the future is essential.

We are concerned with our own care and maintenance, providing for our loved ones when we cannot and minimizing the loss due to legal fees and taxes at our passing.

Planning can give us, and others, the peace of mind that we have provided for ourselves and them.

Lack of planning causes anxiety at the least. Often a great deal of what we accumulated is then lost due to high probate fees and taxes.

While it is always true that you cannot take it with you, it is possible to assure yourself that your wishes will be followed through on even after your death by trusts that allow you total control both during your lifetime and after.

We have assisted many clients to achieve this peace of mind that comes from planning.

A by-product of this planning is to protect your assets from attack from creditors or others.

If you own a business or real estate, your passing could cause liquidity problems. You need to be aware of what these problems are and the magnitude of the problems in order to develop the best overall plan to effectively eliminate forced sales at reduced prices that could be the result.

Whether your concern or needs is a simple trust, establishing other entities (ie. LLP's or LLC's), or establishing a manner of retirement that would best serve your needs, we have the expertise to assist you.


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