RMG’s involvement with the insurance industry dates back several decades and includes different types of organizations, from owner-operated insurance agencies to multi-level insurance carriers. It’s no secret that there is a unique set of challenges that contain state-by-state variances.
We also assist agencies and multi-level carriers in search of a sound technology system that achieves operational effectiveness, in part by eliminating a perceived need to update multiple, inaccurate spreadsheets.
For those challenged to find back-office accounting efficiencies, allow us to come to the rescue. Our breadth of experience and the methodologies we utilize for insurance agencies and multi-level carriers unlocks time so that you can do what you do best: build a successful business.
RMG has long served regional law firms in connection with a majority of their accounting needs, from developing cash management strategies to audit and review services. Our industry teams are well aware of the challenges and difficulties of optimizing financial performance for law firms.
Law firm clients repeatedly call on us to provide:
- Financial statement analyses and preparation using cash- and accrual-basis reporting.
- Tax entity classification analysis and accompanying strategy for deciding whether to become a partnership or a professional corporation.
- Profitability analyses, including reviews of chargeable hours, billing rates, realizations, compensation, and direct or indirect expenses.
- The handling of all tax concerns, including payroll, sales-and-use taxes, and business taxes.
- Multi-state and flow-through entity tax planning.
- Development of complex cash-flow models that include an examination of realizations and collections.
- Budgetary analyses, cash-flow projections, and long-range planning.
We also help put you on the same page across the firm with the technical know-how to streamline financial operations.
We understand why best accounting practices are so important to law firms. Compliance is the focal point. Failure to remain compliant may result in significant penalties. Contact us so we may show you how RMG professionals are on your side.
Tax compliance in the financial services industry is critical, but not the only factor that determines forward motion and bottom-line success. It can be argued that no industry is as heavily regulated as financial services. Therefore, choosing an accounting and consulting firm is tantamount to bridging the gap between a regulatory nightmare and success.
Our methodology features tried-and-true best practices with the digital know-how that solves problems and creates operational efficiencies. This is part and parcel to maintaining tax compliance, a critical element in the financial services industry.
At RMG, we draw from a pool of trusted advisors who concentrate solely on this industry. Whether it’s maintaining compliance, reducing risk, or achieving profitability, our audit, tax and advisory professionals know how to assemble a customized team to overcome the ever-changing regulatory issues, and put you on a path to stronger financial growth.