Lockhart & Powell
Serving our clients with
Integrity, Respect, and
Excellence in all matters
Lockhart & Powell—formerly RS Powell—has proudly served the Colorado Springs community since its founding in 1986. What began as Rick Powell’s vision has grown into a family‑led firm, now under the leadership of dual‑CPAs, Megan and Brandon Lockhart. Today, we focus primarily on supporting entrepreneurs, offering specialized accounting services for solo business owners and small professional firms. Our services include tax preparation, bookkeeping, payroll management, notice response, and audit defense—delivered by your dedicated CPA team. Our unwavering commitment to integrity, respect, and excellence continues to drive our work and define our purpose.
VIEW OUR SERVICESIntegrity
At Lockhart & Powell, integrity is the bedrock of our Colorado Springs CPA firm. Whether we're preparing a complex S‑Corp return or filing an individual 1040, we do what's right—every time. Business owners and families who prize honesty, accountability, and transparent tax planning find a long‑term partner in us.
Respect
Guided by the Golden Rule, we treat every client's time, data, and beliefs with the utmost respect. From secure portals for bookkeeping and payroll uploads to prompt callbacks on urgent IRS notices, we safeguard your privacy while delivering responsive service. Our goal is to build lasting relationships with Colorado Springs companies and individuals who value the same mutual respect.
Excellence
Excellence is not a milestone but our daily standard. By utilizing cutting‑edge tax software, bank-secure client portals, and our extensive tax return reviews process, our CPAs deliver meticulous business and individual tax preparation that withstands IRS scrutiny.
Trusted by Colorado Springs
Proudly serving Colorado Springs and the surrounding communities since 1986
OUR SERVICES
INDIVIDUAL TAX PREPARATION
We prepare your personal tax returns using advanced, industry-leading tax software to ensure accuracy and efficiency. Every return undergoes a thorough quality review before being e-filed, giving you peace of mind and confidence in your filing.
More InfoBUSINESS TAX PREPARATION
We provide comprehensive analysis of your financial statements and prepare your business returns with precision and care. Each return undergoes a detailed quality review before being accurately e-filed upon your approval, ensuring compliance, accuracy, and peace of mind for your business.
More InfoCONSULTING & ADVISORY
Get expert guidance on tax strategy, entity structuring, and financial planning for individuals and businesses. Our CPAs provide personalized consulting to help you make informed decisions and optimize your financial position.
More InfoBUSINESS FORMATION & S-CORP
We help entrepreneurs form LLCs, corporations, and file S-Corp elections with the IRS. From entity selection to registration, we guide you through every step to ensure your business starts on solid financial footing.
More InfoCLIENT SUCCESS STORY
Mike Horcharik | M. Charik Productions | Media Production
What Others Say About Lockhart & Powell
"We have been using Lockhart and Powell for a few years now and cannot recommend them enough! The client portal makes the whole process so easy and communication is top tier!"
Jessica Nuttall★★★★★
"I have found Brandon and Megan to be incredibly friendly, thoughtful and both are extremely tax savvy! Rick Powell has done an exceptional job finding these two to take over his client base."
Mike Dabroski★★★★★
"Lockhart and Powell's team was so easy to work with-- very responsive and organized. They made creating my LLC a breeze on my end! Thanks so much to this team."
Colbee Halford★★★★★
"I’ve been working with Lockhart & Powell, CPAs for several consecutive years, and they consistently deliver outstanding results. The experience has always been entirely positive. I give them my highest recommendations!"
YEGOR KATAYEV★★★★★
"Lockhart & Powell is a great resource for entrepreneurs. They are intentional to create value, a pleasant client experience, and outstanding service. They come highly recommended and hope anyone reading this reaches out to this great firm!"
Doug Slaybaugh★★★★★
FREQUENTLY ASKED QUESTIONS
Do you work with businesses outside Colorado Springs?
+Yes. Our office is in Colorado Springs, and we work with businesses throughout El Paso County — including Monument, Fountain, Security-Widefield, and beyond. Between our secure client portal, QuickBooks Online integration, and virtual meeting capabilities, we also work seamlessly with clients statewide and beyond. Many of our clients chose us specifically for our hands-on, relationship-focused approach to accounting.
Why do medical practices need a specialized CPA?
+Medical practices face unique financial challenges that general accountants often miss — physician compensation structuring, equipment depreciation schedules for imaging and surgical tools, insurance reimbursement tracking, and complex partner buy-in arrangements. A CPA who understands healthcare can maximize deductions specific to your practice, structure owner compensation for optimal tax treatment, and keep your books audit-ready year-round.
What makes accounting for a dental practice different from other businesses?
+Dental practices have significant capital equipment investments — chairs, digital X-ray systems, CAD/CAM units — that require strategic depreciation planning. Add in associate compensation structures, production-based pay formulas, and the transition from associate to practice owner, and you need a CPA who understands the dental industry. We help dentists in Colorado Springs maximize equipment deductions, plan for practice acquisitions, and structure their finances for long-term growth.
Do you work with law firms and solo attorneys?
+Yes — law firms are one of our core specialties. We understand the nuances of legal accounting, including partner profit allocation, guaranteed payments, K-1 preparation, and the tax treatment of contingency fees and retainers. Whether you're a solo attorney or a small partnership in Colorado Springs, we handle the financial complexity so you can focus on your clients.
Which documents should I send my CPA for accurate business‑tax preparation?
+Provide your QuickBooks year‑end file, profit‑and‑loss statement, balance sheet, bank statements, payroll reports, fixed‑asset purchases, 1099s, and prior‑year returns. Clean digital files help us deliver faster, error‑free corporate tax returns.
Can you handle multi-state businesses? We operate in several states.
+Yes, we help businesses from any state with their tax preparation and compliance needs. Whether you're based in Colorado with operations elsewhere, or located in another state entirely, our CPAs have the expertise to handle multi-state tax filings and ensure you're compliant across all jurisdictions where you do business.
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From tax preparation and bookkeeping to consulting and business formation, our Colorado Springs CPAs are here to help your business thrive.Tax prep, bookkeeping, consulting, and more from your Colorado Springs CPA team.