Lockhart & Powell:
Serving our clients with
Integrity, Respect, and
Excellence in all matters
Lockhart & Powell—formerly RS Powell—has been proud to serve the Colorado Springs community since its founding on June 26, 1986. What began with Rick Powell's vision has evolved into a family-led firm, now led by Brandon and Megan Lockhart. We offer all-inclusive monthly accounting packages for small businesses and professional practices — tax preparation, bookkeeping, notice response, audit defense, and payroll, all from your dedicated CPA team. This unwavering commitment to integrity, respect, and excellence drives our passion and defines our purpose.
VIEW OUR PACKAGESIntegrity
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 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 the Colorado Springs community since 1986
Choose the solution that is right for your practice:
Grow your business with a CPA firm that understands the financial demands of small businesses and professional practices. We specialize in supporting businesses with 1–3 partners and 1–10 employees, providing the high‑level financial oversight you need—without the complexity of a large, impersonal firm.
| Basic $799/mo | Most Popular Professional $999/mo | Total $1,249/mo | |
|---|---|---|---|
| Federal & state tax returns | |||
| 1099 preparation | |||
| IRS & state notice response | |||
| Audit defense & representation | |||
| Monthly bookkeeping (QBO) | |||
| Bank & credit card reconciliation | |||
| Payroll management | |||
| View Details | View Details | View Details |
FIRM OFFERINGS
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 SERVICES
Strategic consulting for individuals and businesses navigating complex tax situations, financial decisions, and ever-evolving regulations. At Lockhart & Powell, we provide expert CPA guidance tailored to your unique personal or business needs, helping you make informed decisions with confidence.
More InfoBUSINESS FORMATION & S-CORP ELECTION
We assist with LLC, partnership, and corporation formation, guiding you through the entire process including Articles of Formation, Operating Agreement, and EIN acquisition. Additionally, we handle S-Corporation elections to help you maximize tax savings through proper entity classification and strategic business structuring.
More InfoIRS & TAX NOTICE RESOLUTION
Received a tax notice or IRS letter? Don't panic. We specialize in resolving IRS and state tax notices. Our experienced team will evaluate your notice and communicate with tax authorities on your behalf to ensure an effective resolution.
More InfoCLIENT SUCCESS STORY
Mike Horcharik | M. Charik Productions | Media Production
What Others Say About Lockhart & Powell
"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★★★★★
"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★★★★★
"In today's day and age it is super hard to find a CPA. As the owner of a bookkeeping firm I work with many CPAs and I can tell you honestly that Brandon and Megan are top shelf. They are ethical, responsive, smart, savvy, and take excellent care of their clients. If you are looking for a fairly priced CPA that will make sure your taxes are filed correctly in a timely manner contact Lockhart & Powell."
Jason Hill★★★★★
"As the Managing Partner of Sound Advice Consulting Services, I work extensively with Brandon and Megan with our bookkeeping clients. They are communicative, skilled, personable, helpful, and all-around excellent CPAs. I highly recommend Lockhart & Powell to anyone looking for a CPA firm that is a true partner in your success."
Dr. Ali Hill★★★★★
FREQUENTLY ASKED QUESTIONS
How much can I really save with an S-Corp election, and is it worth the extra paperwork?
+Most businesses earning $60,000+ in net profit can save thousands annually. The 15.3% self-employment tax on distributions is eliminated with S-Corp status. For example, a business with $100,000 profit could save $7,650+ yearly. While S-Corps require payroll and additional filings, our clients typically save 5-10x our fees in the first year alone. We handle the complexity—you keep the savings.
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.
How can electing an S‑Corporation save Colorado small‑business owners on self‑employment tax?
+An S‑Corp lets net profit pass through to shareholders and avoids double taxation, while a "reasonable salary" is subject to payroll tax. Many Colorado LLCs convert to S‑Corp status and save thousands; our tax‑planning meeting shows if it's right for you.
When should I switch from LLC to S-Corp? I'm making good money but don't know if it's time.
+The "sweet spot" typically starts around $60,000 in net business profit. However, timing depends on your salary needs, business stability, and growth trajectory. We provide an S-Corp analysis showing your exact savings potential.
Do I need to have my books perfectly organized before coming to you, or can you help with messy QuickBooks?
+We see it all—from pristine books to "shoebox accounting." Our monthly packages include ongoing bookkeeping through QuickBooks Online, so we handle it for you year-round. While organized books save time, we won't turn you away for being disorganized. Many successful practices come to us specifically because they've outgrown DIY bookkeeping and want a CPA team managing everything.
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.
Ready to Simplify Your Practice's Finances?Simplify Your Finances
See how our all-inclusive monthly packages give your practice tax preparation, bookkeeping, and year-round CPA support — all for one predictable fee.All-inclusive monthly packages with tax prep, bookkeeping, and year-round support.