As an IT business, you represent the heart of the economy in the communities served by MLCFS, and you are a primary focus of MLCFS's accounting practice. Our traditional accounting services are tailored to help you operate as efficiently as possible, at minimal cost and with minimal disruption to your business. The accounting support we provide is designed for the small and medium-sized businesses that find it cost effective to outsource many day-to-day accounting and business office responsibilities.
Computer and IT technology becomes more ubiquitous with each passing year, increasing the size of the market for computer repair shops and related IT services. According to Ibis World, revenue for the industry reached $20.3 billion in 2010. Computer technology is still in a relatively early stage of development, as well, meaning computers still fail on a regular enough basis to support the repair industry. Recessionary conditions in the economy can shift consumers' focus away from buying new computers and towards maximizing the life of their current machines, providing further advantages to the industry. Because it is a high-tech personal service business, you will incur high labor cost if you hire employees or subcontractors. While you can deduct high labor cost, the payroll tax or 1099s compliance can be critical for your industry.
As we have such long-standing relationships with businesses like yours, and because we listen, we understand your needs and concerns. We will work with you to determine the complement of MLCFS services that will best meet your needs, and we focus on achieving the results desired in the most cost-effective manner. We use the insight we acquire to identify ways for you to increase revenues, decrease expenses, and improve controls. Whether you need us to help you better manage growth, improve efficiency, or plan for the transition of ownership or top management when you retire, MLCFS is prepared to respond with expert accounting and consulting assistance. If you turn to MLCFS, you can expect results, including:
- a clear identification of opportunities for you to reduce costs or increase revenues
- more effective and efficient business practices
- income tax planning strategies that minimize tax liability and fully address business structure and reasonable compensation issues
- a business succession plan that is carefully developed and evaluated long before business succession becomes an issue