Accounting, Advisory, Bookkeeping and Tax Services for Small Businesses.
Integrated services designed to keep your business compliant and give you better outcomes.
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Our Services – Accounting, Advisory, Bookkeeping and Tax fit within two broad categories – Compliance and Business Advisory Services.
Compliance:
Compliance to tax laws, regulations and rules vary by the type of business and industry in which they operate.
Instead of looking at compliance as a necessary, but non-value added activity for small businesses, we view good, historical, financial data as an indicator as to what can be expected in the future, in the absence of structural changes to the business. When a business is compliant, it means that there is reasonable assurance that (potential) threats imposed by external authorities can be addressed and overcome. But, additionally, having solid financial data forms the basis to make sound decisions concerning future growth or other financial goals of the business.
You can’t effectively run your business if you’re continually chased by taxing or other authorities for information or evidence of compliance. If you do get challenged, you need to resolve these issues, quickly. It’s a hell of a lot easier with well-structured, organized, classified and reconciled, data, records and transactions.
Business Advisory Services:
Advice needs to be grounded in data and facts. The rule should start with, “first, do no harm.” We take the view that any business’s operation or activities should be looked at to improve the time it takes to start, create/manufacture, complete and deliver products and services. The velocity of this start and delivery cycle determines how fast revenue is recognized and payments (cash) is ultimately received.
The faster and more efficiently a business can create and deliver their products and services, through operating improvements, the more it will enhance their gross margins. Gross margins are the difference between Sales Revenue and those Direct Expenses required to deliver their product or service. Gross margins need to be sufficiently (large enough) to cover the remaining indirect or overhead costs necessary to run the business.
Many Accountants are preferring to base their Firm or Practice’s focus, exclusively on Advisory Services. Fine. But, the business Client still needs Compliance work to be completed. Transactions need to be reconciled, records updated, and financial statements, created. The point is that Clients will not draw a distinction between Accountants that are solely, Advisors and those Accountants that do Compliance work. Client’s normally expect their Accountants to do both.
We always advise Clients to take obvious actions to better cash flow to enhance faster growth. But, other advice requires a review of a business’s financials to understand the best decision(s) for future growth. One more thing. Business Owners should avoid advice from Coaches or Advisors that have no understanding of the possible repercussions that their advice might have that conflicts with applicable tax law, rules or state law.
Compliance and Business Advisory Services – As a Repeatable Process
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Comprehensive Services for your Small Business
Maximize cash flow, and minimize stress with
insight on how well your business is performing.
We deliver the services and support you need.
Accounting Services
Accounting Services – Financial Accounting and Reporting + Managerial Accounting.
Financial Accounting for compliance – To assist internal and external users with clear and concise Charts of Accounts, and Financial Statements. Managerial Accounting for internal users to improve decisions.
Advisory Insight
Advisory – Goal and target setting – Plans and roadmaps to achieve success.
Strategic planning, financial management, operating efficiency, risk assessment/management, growth strategies, and assisting business owners implement performance improvements that achieve goals and targets.
Bookkeeping Expertise
Bookkeeping – Accurate/clean records for compliance and decision-making.
Account adjustments, corrections, reconciliations for multi-year clean-up’s or monthly close. Transaction classification based on entity type and tax structure (disregarded, Partnerships, S-Corp’s, C-Corp’s).
Tax Solutions
Tax Solutions – Tax Planning, Tax Preparation and IRS Representation for Tax Debt Resolution issues.
Three categories of Tax Solutions. Tax preparation in coordination with bookkeeping to ensure accuracy. Tax planning – Deferral or mitigation of tax liability. Tax resolution – Activities that address tax debt.
