With a strong concentration in local and multi-location automotive dealerships and retailers, RMG is a trusted partner of some of the most successful companies in the region. Our automotive team meets regularly and shares best practices so that every client receives the collective wisdom of our whole team as it relates to the regulations and trends affecting the automotive industry.
Among other things, we assist clients with:
Inventory Selection & Analysis
Salesmen Compensation Agreements
RMG CPA, LLC maintains a specialized concentration on the construction industry
. Construction accounting is a form of project accounting that is administered to construction projects. This is especially necessary when there are multiple contracts involved.
There are many aspects that contribute to the cost of the construction process including: labor costs, right of materials, consulting, and management expenses.
RMG has extensive knowledge of all methods of revenue recognition including the Percentage of Completion Method and Completed Contract Method. The Percentage of Completion Method recognizes revenue using an estimate of the overall profit of a contract, multiplied by the estimate percent complete of the said contract. The Completed Contract Method does not recognize revenues and costs until the contract is completed. RMG will determine which method works best with each unique contract.
RMG services virtually every market segment within the construction industry. These include:
• Building suppliers
• Commercial contractors
• Engineering firms
• Federal, state and municipal public works contractors
• General, governmental and private contractors
• Residential developers
• And more
Among other things, we assist clients with:
• Specialized knowledge of “construction accounting” methods
• Construction industry tax-planning objectives that reduce tax burden while still maintaining single and aggregate bonding capacities
• Establishment of internal financial reporting capabilities to help provide third parties with more timely financial data
• Audit, review, and compilation of financial statements as required by third party vendors
• Customized job profitability analysis reports to determine potential pitfalls in bidding, project management and operational inefficiencies
• Industry bench-marking to determine strengths and weaknesses in comparisons to other contractors within each industry segment
• Cost segregation studies to help maximize profits and create additional operational efficiencies
• Coordination with federal, state, and municipal agencies for contractor pre-qualification statements and bidding requirements
• Cash flow projections on a job-by-job basis to help determine global funding requirements
Contact RMG to learn how our construction accounting experience can be put to work for you. Serving constructing businesses and individuals in New Jersey, New York and nationwide.
People go into business to make money. This is true for any type of business, from a small scale mom-and-pop bakery all the way up to multi-national corporations. Even insurance companies, who help people pay for certain – often expensive – services, are in business to make money. Part of making money, however, is paying taxes and remaining compliant with each of the new tax laws every year. Making sure that no overpayments or underpayments are made can be tricky, especially with the ever changing tax laws. RMG offers tax consulting services that will help you keep your company profitable.
Tax Consulting Services
Tax consulting is the field of tax law that specifically advises clients on the best ways to handle their finances. A tax consultant is an individual who is trained to understand current tax laws, and since these laws are constantly being changed and updated, it can make keeping up rather difficult. Tax consultants are always following the latest updates, which allows them to develop strategies to manage their client’s finances in such a manner that the client’s tax obligations are kept as low as possible while still complying with every law. This allows the company’s bottom line to always remain in focus, and growth to remain possible.
Why Insurance Companies Should Use Tax Consulting
The insurance industry is a complex business that deals with a lot of money. They often have a large number of clients with whom they have large financial transactions. For example, car insurance companies pay repair shops or tow trucks, while health insurance companies pay medical offices and hospitals. Keeping track of all the money movement can be rather difficult. Everything must be properly reported, all necessary taxes paid, and all of this must be done on time to avoid unnecessary penalties. With all of this fast moving money, it stands to reason that insurance companies might miss some tax credits when filing. Plus, since insurance companies have so much to deal with on a daily basis, staying current on the latest tax laws and regulations can prove difficult.
Not complying with these laws, even unknowingly, can result in some rather large penalties. By using a tax consulting service, insurance companies can minimize the amount of money they owe in taxes. This, in turn, gives them a bigger profit and ensures that these companies stay compliant with all tax laws. Keeping the finances organized also allows for insurance companies to see where they lose money, where they make money, and where they can adjust to make additional money in the future.
The insurance industry is large and complex. Money is collected from clients, and in turn, the agency needs to make sure that the appropriate businesses are paid in a timely manner. Even with all of this going on, they still need to make sure that all of the appropriate taxes are paid on time, otherwise fines could be levied.
If you are an insurance company in need of a reliable tax-consulting firm, contact RMG. They have worked with insurance companies of all sizes for years, ensuring that these companies save money and avoid issues when tax time rolls around.
RMG has long served small and mid-sized regional law firms in connection with virtually all of their accounting needs, from developing cash management strategies to audit and review services. Our specialists have a thorough knowledge of the industry, as well as the challenges and difficulties of optimizing financial performance for law firms
Among other things, our services include:
- Financial statement analysis and preparation using both cash basis and accrual basis reporting
- Complex optimization analyses of case and matter management
- Customized strategies for both partnerships and professional corporations
- Expert profitability analyses, including reviews of chargeable hours, billing rates, realizations, compensation, and direct and indirect expenses
- Handling all tax concerns, including payroll, sales & use taxes, property taxes, and business taxes
- Developing complex cash flow models, examining realization, collection, etc.
- Budgetary analyses, cash-flow projections, and long-range planning
Few industries contend with the kind of complexity and operational uncertainty facing manufacturers. RMG has helped manufacturing
companies and wholesale distributors for years, providing accounting, consulting, and tax services so that clients can better understand their operations, develop sound methods for reporting their financial condition, and plan for the long term. Given the pressures of a globalized economy, our team is especially skilled in delivering real-world advice that can have a meaningful impact on the bottom line.
Our services include in following areas of concern:
- Budgeting and cash flow projections
- Corporate finance
- Corporate governance
- Cost segregation studies
- Employee pension and benefits
- Flexible strategies for supply chain management
- General accounting
- Information technology consulting
- Inventory control
- Manufacturing-improvement efforts and programs that reduce manufacturing costs
- Succession planning
- Tax planning
RMG CPA, LLC has years of industry specific experience in real estate accounting. Our diverse team of professionals provides clients with timely accounting, consulting, and tax advice tailored to the authenticities of the real estate industry
. Our specialized concentration on the real estate industry is advantageous to our clients because we understand the minute details of real estate that will help you achieve both your operational and financial goals.
The specialized RMG real estate accountants provide a multitude of services to advise our valued clients. Some of these concentrations include tax planning
, corporate and project finance, general accounting and audit
services, information technology consulting, property and market risk assessment, and property management and operations analysis. With the dynamics and unique functions of the real estate market, it is important to work with the specialists at RMG CPA, LLC for all of your real estate accounting needs.
The professionals at RMG CPA, LLC understand the complex reality of the real estate market and importance of our client’s investments. The real estate market differs widely depending on geographical location, which is why our experience in real estate markets nationwide provides our clients with optimal service. The rules and regulations of real estate are always changing, which is why the experts at RMG CPA, LLC are here to protect and advise you throughout your endeavors in the real estate industry.
Our accountants and consultants work to:
- Maximize the potential of your property.
- Assist you with complex transactions and acquisitions.
- Advise you on various real estate investment and management opportunities.
- Give you peace of mind about the state of your real estate assets.
- At RMG CPA, LLC, our real estate accountants serve all areas and levels of the real estate market including managers, investors, developers, brokers, agencies, and family and estate enterprises.
Contact RMG today to learn how our specialized experience in real estate accounting can be put to work for you in New Jersey, New York, and nationwide.
Let RMG CPA, LLC take care of business for you. Your restaurant business, that is. In the fast paced, ever-evolving restaurant industry
, where the focus lies in overseeing your establishment and turning profits, we understand your mission and goals. We also understand the hectic and demanding nature of the industry, and your need to focus on food, service, your eatery, employees, and, of course, customers. That is why RMG offers specialized expertise in restaurant accounting services. We cater to your profit margins, so you can cater to your clientele.
Just as there is no limit to the possibilities when it comes to your dining establishment, there is no limit to the restaurants we serve. From quick service, casual franchises, to Zagat-recognized upscale dining, our team offers the qualified proficiency to cater to your needs, and help you achieve profitability in the long-term, for a strong financial future.
At RMG, we know that no two businesses are alike. That is why we will carefully analyze your enterprise and assess your specific needs. There is no one solution that fits every restaurant, which is why we take the time to deliver customized and effective solutions for the specific circumstances your business faces. Allow our Consulting Services Team to manage your cash ﬂow, and let our Tax Accounting Department plan and prepare your reporting throughout the fiscal year, to identify and utilize every possible incentive and lower your liabilities when the timing is right. Our Accounting & Audit Team will thoroughly examine your economic activities, determine the status of your assets, and secure the resources to support your forthcoming financial objectives.
With RMG CPA, LLC you’ll gain the RMG Advantage, proven to deliver results. Serving small and medium-sized businesses throughout New Jersey, New York, and nationwide we offer a competitive edge and personalized services that larger firms simply cannot match. We understand the ownership and operation of a mid-sized business, because we are one, and are well versed in the governing laws and regulations that impact your bottom line. We proudly offer the credible expertise of our professional team, along with attentive dedication to each and every one of our clients.
The food service industry is a highly competitive field. To remain a top contender, you must ensure your finances are handled efficiently, and your earnings cultivated astutely. Located in Parsippany, NJ, we welcome restaurants from around the Tri-State area to place their revenue stream in our secure hands.
Schedule a consultation or Contact Us for more information about how our knowledgeable and experienced team will work for your financial prospects. At RMG CPA, LLC trust that we’ll take care of your business, so you can keep it growing for years to come.
Contact RMG to learn how our restaurant accounting experience can be put to work for you. Serving restaurants and individuals in New Jersey, New York and nationwide.
Billions of dollars are lost each year between businesses and individuals because of a lack of tax planning and preparation throughout the fiscal year. By utilizing the tax accounting
services offered at RMG, businesses can ensure a level of expertise and care is being provided to their organizational finances throughout the year. Our integrated approach to tax accounting incorporates multiple areas of concern such as the individual, estate, and corporate. This integrated approach provides clients with definitive means to recognize tax efficiencies.
Tax planning strategies require vigilance, and our teams hit the ground running on every assignment. We monitor tax issues throughout the year in order to lower tax liabilities at the right time. We work directly with clients to identify and utilize all available state and federal tax incentives and provide clients with real-time, comprehensive knowledge of the tax efficiencies of important personal and business decisions.
RMG provides the following tax accounting services to our clients:
- Tax Consulting & Compliance: RMG features a specialized group of tax accountants who provide the intellectual heft and up-to-date expertise needed to fashion winning tax strategies. We have the ability and know-how to analyze complex situations and find new tax opportunities and alternatives.
- Personal Tax Planning: RMG’s personal tax planning services are built on responsiveness, communication, and collaboration. We look at the big picture to ensure a preservation of wealth for both yourself and generations to come.
- Entity Tax Planning: RMG is a trusted business advisor to a variety of businesses. From sole proprietorships, to corporations and large partnerships in the tax-planning process, our team will provide comprehensive planning.
- Estate & Trust Tax Planning: RMG provides high net-worth individuals, families, trusts, and closely held businesses with the expertise needed to navigate a course toward tax efficiency.
- Payroll & Sales Tax Compliance: RMG helps businesses stay compliant by developing and implementing the necessary controls in connection with sales tax and payroll administration.
RMG has served a number of regional technology firms, from emerging companies to well-established businesses. Our firm prides itself on offering to clients an industry team they won’t outgrow and has assisted companies at virtually every stage of their growth cycle. Our wide range of services and expertise available to technology firms goes unmatched.
We provide our clients in the technology industry with services in the following areas:
As your accountants, RMG will provide your technology firm with a comprehensive report of your company’s economic activity. As your auditor, you can rest assured that we will find any discrepancies that may put you at risk.
Business and Intellectual Property Valuations
Need transactional due diligence? Our team always begins and ends at your goals while providing a timely valuation.
Cash Flow and Profitability Modeling and Forecasting
Stay on top of the trends and be prepared for anything.
The RMG team can also help your technology company with:
- Control Processes
- Financial Reporting
- Risk Management
If you run a technology firm, there is no better accounting and consulting team to work with than RMG. Our professionals are prepared to position your technology firm for stability and success. Contact us today to get started.
RMG has long provided services to privately-held waste management
companies throughout the New York and New Jersey metropolitan area. Our waste management team provides key services
relating to the audit, review, and compilation of financial statements as required by third party vendors; tax compliance
and tax-planning strategies; fulfillment of annual reporting requirements for various state agencies; and business valuations
Our team also has expertise in the area of performance benchmarking, enabling RMG to identify how a client’s operations perform vis-à-vis competitors in connection with key indicators such as disposal rates, route profitability, costs by ton, and revenues by department. We are also capable of performing insightful divisional and labor analysis for multi-faceted waste haulers servicing different industries, isolating pockets of strength and weakness in a client’s overall business model.
Clients also turn to RMG’s waste management team for assistance with mergers and acquisitions. Our firm is trusted business advisor and is capable of providing assistance in connection with due diligence on all potential transactions, including mergers, takeovers, and dispositions. We also specialize in developing M&A tax-planning strategies to minimize corporate tax liabilities and lock in value in connection with all forms of corporate transactions.
Our clients include:
- Commercial & Roll-Off Waste Haulers
- Municipal Waste Haulers
- Recycling Facilities
- Transfer Stations
- Material Recovery Facilities (MRFs)
- Waste Brokers