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Advisory Services

You might find yourself having a question or needing help that goes outside the simple filing of a tax return or the completion of a bank reconciliation. Beyond the compliance work of bookkeeping, tax filings, and auditsaccounting professionals can help businesses improve their profitability, pay fewer taxes, increase their cash flow, and become more efficient with technology. This work, which we call advisory work, is where you can get a real return on investment in your services with us.
Advisory services are designed to help you reach your business’s financial goals faster. Here are some of the ways we can help you.

Tax Planning

We can help you be proactive about your tax bill by thinking ahead and planning activities and transactions designed to reduce your taxes. This service includes a review of your situation and goals and includes one or more planning sessions to present options available to you to legally pay fewer taxes.  We can advise you on:

  • Individual tax planning
  • Providing tax projections throughout the year
  • Assisting with the tax requirements of certain situations that may come up in your life, such as marriage, divorce, settlements, windfalls, investment transactions, international work, illness, or death of a family member.
  • Transferring wealth to children and estate planning
  • Choosing the most advantageous type of entity for your business
  • Corporate tax planning

Business Advisory

Business advisory spans many areas. We will discuss with you your business goals and current challenges and guide you toward solutions to achieve your goals and solve your issues. Here are some areas where we have experience providing solutions:

  • Entity Structure Planning & Entity Selection 
  • Business Operations and Documentation Best Practices
    • Develop and implement best practices in your business to “audit-proof” your records. Correctly utilize bank & credit card accounts and develop entrepreneur-friendly business expense reporting.  Learn how to keep and maintain your books and records for tax purposes.  Understand what a business expense is and how to handle auto expenses and other reimbursements.
  • Corporation-LLC Income Strategies
    • Learn how to get money out of your business. Determine what is considered “reasonable compensation” and how much to pay yourself.  What are distributions and how/when do you take them?  Can you pay yourself rent or royalty/license fees?
  • Cash Flow Planning Using Your Corporation-LLC
    • Develop a plan for funding your business expenses and paying liabilities. Know what your profit is and project your income tax liability.  What can be done about the “timing” of income and expenses?  Determine and budget for tax payments and personal needs.
  • Independent Contractor-Employee Analysis
    • Are your workers classified correctly? What insurance requirements are needed?  Understand the penalties of improperly classifying your workforce.  Learn the factors for determining independent contractor status.
  • Equity Planning-Post Net Worth
    • How are you building equity and what tools do you have to do so? Learn how to create principal dollars from your current business.
  • Company Fringe Benefits
  • Rental Property Operations
  • Education Savings & Income Shifting
  • Buying or Selling a Business

Accounting Software Selection & Implementation

The right technology can greatly boost your bottom line. We’re tech-savvy accountants that can help you streamline your accounting workflow with the right choice of accounting software and apps for your business. We can help with:

  • Accounting system selection
  • Transition to the new system
  • System implementation
  • System customization
  • Accounting software training
  • Integration of add-ons to enhance your core functionality

No matter what your tax, accounting, business, or financial issue is, feel free to give us a call so we can get started helping you today with our accounting advisory services for businesses and individuals.