Service and Technology

Learn More about Wayne S. Gilmore, CPA, Service and Technology Practice Leader.
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In a fast-paced environment, operational efficiency and solid financial decisions are a must.

Service providers and technology based companies must continually evolve in order to stay ahead of the fast paced and ever-growing competitive market for their services.  These companies have an increased demand for guidance and understanding of issues that are critical for smooth operations such as the following:

  • resource management, scheduling and allocation
  • management reports and analysis of information
  • accurate job estimation and tracking of progress and shortfalls
  • operational efficiency through effective work flows and processes
  • effective invoicing, accounts payable and collection policies

Additionally, because of the operational complexities of service and technology companies, proper planning and expertise are imperative in navigating the following:

  • Current tax laws, such as bonus depreciation, tax credits on both the Federal and state level, and structuring new entities
  • Depreciation and fixed assets
  • Accounting methods – Service businesses with contracts that last over more than one tax year have special requirements for filing and reporting income. Are you following the correct laws for your type of business?
  • Companies that meet certain revenue or total asset thresholds may have certain tax accounting requirements for inventory, revenue and balance sheet reporting. We will work with you to ensure compliance if or when these requirements are met.

With a clear understanding of these issues gained from years of providing service and technology organizations with financial guidance, HLB Gross Collins, P.C. has the insight and expertise needed to guide businesses toward financial success and stability. Today more than ever, these businesses are facing increasing pricing competition and aggressive marketing strategies from competitors.