Business
Your business has many moving parts. You are coordinating operations, employees, inventory, benefits, and more, all before you have a single financial item. We know running a business is enough of a challenge. Our business solutions are explicitly designed to heighten your personal and professional financial success whether you are a small single-member business or large company seeking expert guidance. We serve as your coach, organizer, partner, advisor, advocate, and cheerleader every day as you continue to grow your business.
Business Services we offer:
Accounting
Through our experience working with small business owners, we have found accounting leads to either stress or empowerment. If your books are a mess, we can work together to establish easy processes that empower you to manage your business effectively.
Periodic reconciliation of financial accounts
- Identify lost checks, deposits, and unauthorized transfers
- Detect and dispute bank charges
- Understand how your business is ‘doing’
- Peace of mind knowing your bank account records all match and funds are properly accounted.
Tax Minimization & Compliance
- Proper document retention and supporting evidence assists us in achieving your maximum tax savings. This will document the appropriate tax deductions we claim, provide the foundation for tax planning strategies, and ensure nothing falls through the cracks.
- In the event of an audit, we know where every dollar has come and gone with time stamped records of each transaction. We can easily provide accurate and complete documentation to the relevant taxing authority.
Profit and Loss Statement
- A Profit and Loss Statement (P&L), itemizes all revenues and expenses to show how much you have earned, spent, and netted on a periodic basis. While this is typically done annually to calculate tax liability, a P&L should be reviewed regularly for successful businesses.
- To build your P&L, we track revenues and expenses to determine operating performance of the business.
- Determine what areas of the business have significant spending to begin benchmarking, budgeting, and monitoring.
Identify unexpected expenditures, including ‘one-time’ expenses that continue to emerge regularly or asset purchases.
Balance sheet generation
A balance sheet is the key to managing your business’ current financial condition. This is the most basic element in providing financial reporting to potential lenders, banks, investors, and vendors.
- Identify financial strength and operational capabilities
- Identify and analyze trends including seasonal cash fluctuations and impact of growth.
- Determine financial position for business expansion and growth
- Determine line of credit or financing needs
- Ensure there are adequate reserves to pay for your personal financial needs from business distributions
General ledger clean-up and review
The general ledger is the core of all financial records. Many business owners do not understand the complexities and intracicies of initiating transaction flows through a general ledger. We review your general ledger system to hunt down discrpencies including double billings, returns, and transfers between accounts to keep your books accurate and in the preferred structure for the IRS.
Periodic reconciliation of financial accounts.
- Identify lost checks, deposits, and unauthorized transfers
- Detect and dispute bank charges
- Understand how your business is ‘doing’
- Peace of mind knowing your bank account records all match and funds are properly accounted.
Payroll
Between IRS, Federal, State, and Local tax laws, the payroll function is a confusing, time consuming nightmare for businesses of all sizes. Our team offers payroll solutions that meet your business’s needs, keep you compliant, and save you time.
Cost Effective — you can use your time and staff time more efficiently by outsourcing your payroll and associated legal details.
Time Savings — we manage and supervise the payroll processors to eliminate your burden of customizing, updating and maintaining your own payroll system.
Payroll Tax Filing & Payment — Eliminate the risk of miscalculating your payroll taxes by outsourcing to a professional. As federal, state, and local payroll tax laws are frequently becoming more complex, we keep you compliant and up to date.
You're Fully Covered
Our tax team and payroll processors work closely to take care of all payroll needs on your behalf. Our integrated approach identifies payroll needs and...
- Direct deposit from your account into your employee’s bank account on your preferred schedule.
- Automatic payment of federal, state, and local payroll taxes.
- Filing of monthly, quarterly, and annual payroll tax reports, including W-2, W-3, and 1099 forms.
- Payroll dashboard for easy review and approval, including gross and net pay, deduction reporting, vacation, sick, and personal day reporting, and employee benefit management.
Legal Entity Planning
Opening your business is exciting and thrilling… until you need to determine the correct entity formation for your business. The entity decision selection can have a substantial impact on your overall tax bill and eliminate, or open, many tax planning strategies.
We file for desired entity choice, apply for your Employer Identification Number (EIN), and identify all required state and local licenses and permits. Through our consultative process, we help our clients evaluate the ideal business structure based on evidence and future business expectations, including all the complicated partnership, corporate, LLC structures, and advanced holding company structures.
We work with entity types such as:
- C Corporation
- S Corporation
- Professional Corporation (PC)
- Limited Liability Company (LLC)
- Professional Limited Liability Company (PLLC)
- Limited Liability Partnership (LLP)
- Limited Partnership
- General Partnership
- Joint Venture
- Non-profit Corporation
Outsourced CFO Services
Successful, growing business often reach a point where they need advanced, C-Suite Level financial insights. Our outsourced CFO services give you a personalized financial expert to guide your business towards success, at the frequency & rate needed for your business needs.
CFO-Level Services Include:
- Regular, ongoing financial meetings to review key reports and metrics
- Determination and monitoring of Key Performance Indicators (KPIs)
- Experienced sounding board for key business decisions such as growth plans, mergers, hiring staff, equipment purchase, and more.
- Training and management of your accounting staff.
- Proactive tax saving strategy.
- Budget preparation, monitoring, and reporting.
- Trend analysis, including seasonal, annual, and service level analysis.
- Definition of long-term goals
- Liaison with bankers, attorneys, vendors, insurance agents, etc.
- Strategic-level cash management
- Improved decision-making capability
- Better financial controls
