Our goal and passion is to help you be successful. This is especially true with a “start-up” business as the owner or owners have much to deal with in the process of getting their business up and running with a minimal number of business knowledge barriers. As a part of this process, we are here for those individuals to provide them advisory and coaching services. Why? Because in most cases those new business owners “don’t know what they don’t know” or just don’t know what questions to ask. This is not uncommon. Now they have to deal with accounting and tax issues that they have not had to deal with before. Bottom line….we want to share valuable information and best practices while keeping this process simple and effective.
So why is this so important to us to play a strong role in the start-up process? Because all too often those new owners end up incurring expenses they could have avoided or they end up paying more taxes than they should have because they weren’t structured properly from a tax standpoint. Because of our competitive nature, we absolutely do not want to see that happen. Although many would look at us as “number crunchers” or the proverbial “left brain for hire” type, we have much to share with you as a business advisor and coach to enhance your ability to be more successful in your new business venture.
We provide added value to our clients by offering QuickBooks expertise. Our QuickBooks ProAdvisor certifications ensure that we can effectively guide you on system setup, navigation and features…as well as ensure that you maximize the power of the system to keep your books in order.
Choosing the right accounting method for tax purposes
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now the IRS has provided procedures a small business taxpayer can use to obtain automatic...
The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA — subject to income taxes on all earnings and deductible contributions — and then...
An FLP can save tax in a family business succession
One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready to give up control of the business.
A family limited...