Think of our business advisors as part of your leadership team or board of directors. We tailor a strategy to your unique business to keep it compliant, tax-efficient, and more organized. Our business advisory plan will help you more strategically manage your business and monetize every asset you can. You will rest more comfortably knowing that you are covering all of your financial bases and making informed decisions.
Business advisory services are an investment with a measurable return. Rather than simply paying a CPA to prepare your tax returns, you entrust a business advisory firm as an extension of your company. Taxes are just one element of business advisory services. Yes, your advisor should proactively look for ways to reduce the tax you owe and maximize deductions. They should predict your tax bill as accurately as possible so that you can plan for it throughout your fiscal year. Beyond tax preparation, a business advisor can also spot opportunities to reduce costs or maximize investments across all aspects of your business. As you track what you invest against the savings you realize, you should see long-term positive returns
Develop a Tax Strategy
Many C.P.A. firms focus on one objective: minimizing taxes. While that objective remains valid, it is just one piece of the puzzle for your business. Instead, a CPA firm focused on business advisory services recommends a comprehensive tax strategy focused on building wealth and realizing a greater return on your business investment. A business owner must identify and articulate long and short term goals for their business, then align their tax strategy with those goals. Unlike most C.P.A. firms, we help business owners plan and manage their tax situation rather than react to it–often too late. We get to know you and listen to your goals so, together, we can build an effective tax strategy.
Look Through the Windshield Not Just The Rearview Mirror
A business advisory plan helps steer your business where you want it to go. We focus on where you’re going, not just where you’ve been.
A DIFFERENT APPROACH TO BUSINESS DECISIONS
For a business owner, having good information leads to good decisions. A wave of new technology is changing the face of accounting, and we offer what basic accountants and tax preparers don’t: strategic client service and counsel. We advise on everything from forecasting to expense analysis to increasing profit and growth margins.
At Business Advisory and Accounting Partners, we think beyond the figures on the spreadsheet or a tax return and help guide you towards your goals while avoiding pitfalls that many growing businesses face. Business advisory services focus on strategic planning and execution.
4 Key Areas of Business Advisory Services
When you engage Business Advisory and Accounting Partners for business advisory services we address four key areas.
A DIFFERENT APPROACH TO BUSINESS DECISIONS
Many C.P.A. firms focus on completing forms and keeping you compliant with your tax filings and accounting financial statements. These tasks form the basic blocking and tackling of an accounting firm focused on preparing tax returns or creating the monthly financial statements. However, that is where most firms stop. Our team of professionals go beyond the transactional compliance work expected of an accounting firm and provide insight and guidance into the numbers that report your business performance.
TAX EFFICIENCY SERVICES
Our experienced advisory and accounting professionals learn and understand your business goals so that we can help you reduce taxes, secure bank financing, expand your business and exit it at the right time with a better outcome. When you focus only on minimizing taxes, you may miss the bigger picture and make mistakes that cost you down the road. Business Advisory and Accounting Partners will build a tax plan that aligns with those goals.
ORGANIZATIONAL SERVICES
As a business owner, it is important for you to know and understand your numbers. Streamlining your accounting helps you get a better handle on the metrics that are meaningful for your business. We review your financial statements with you to make sure that you understand them and can manage them appropriately. We also help you analyze business expenses and look for opportunities to increase profitability and cash flow. Better organization and reporting allows you to easily and confidently present and analyze your business performance.
STRATEGIC FINANCIAL SERVICES AND SUCCESSION PLANNING
As a business owner, you invest your time and money in one of your most valuable retirement assets, your business. You should expect a proper rate of return on the investment you make in your business. Our goal is to help you build value in your company and eventually transfer this most important retirement asset to your personal balance sheet. As a business owner, you must always make decisions with a succession plan in mind. Position your company’s finances so that when you’re ready to sell, retire, or hand over the reins, you keep as much money in your pocket as possible.
Business Strategic Review
Your team at Business Advisory and Accounting Partners will review more than just the numbers currently in front of them. They will help you examine your strategy to project how your financials should look in one year, five years or ten years.
We partner with companies of all sizes in industries as diverse as real estate, manufacturing, medical practices, restaurants, and construction trades, just to name a few. Our financial expertise and strategic approach transcend industries. Whether you operate as a sole proprietor, run a small LLC, or own a corporation, we want to see you through to the level of success you envision.
The Business Advisory and Accounting Partners Process
Our process starts with an initial meeting where our Relationship Team gets to know your company. We learn about the company history, its current successes/challenges, and goals for the company and its stakeholders. From this meeting, we develop a business advisory plan–a list of tasks that we work together to prioritize and complete over time. Throughout the year we meet periodically to teach best practices, discuss the status of these tasks and schedule the next steps. Our goal is to help you identify those items that will help build value in your business, improve profitability and stay on the path of accomplishing your goals.
Areas of Engagement
COMPLIANCE SERVICES
Tax Preparation & Filing
Accounting, Bookkeeping, and Payroll Services
ORGANIZATIONAL SERVICES
Financial statement review
Analysis of Corporate Agreements
Business Expense Analysis
Risk Mitigation Analysis
TAX EFFICIENCY SERVICES:
Create tax efficient plan based on goals
Audit Risk Review
Maximization of Tax Credits
STRATEGIC FINANCIAL SERVICES:
Managing Debt/Leverage
Monetizing Your Business
Profitability Analysis
Create Financial Management Tools
Relationship Team
As a client of Business Advisory and Accounting Partners, you will be assigned a team of business advisory professionals so you have multiple people who know you and can support your plan. Our staff has extensive experience in business consulting, tax planning and preparation and accounting services. The relationship team consists of the following:
RELATIONSHIP MANAGER
The lead advisor responsible for managing the client relationship and process.
ACCOUNTANT IN CHARGE
The accountant in charge that ensures that financial information is accurate and is representative of the business activity.
TAX PLANNER
The person responsible for formulating the tax efficiency plan.
Each of these individuals views themself as an extension of your team and your business. Together, their overlapping skills and knowledge provide a full range of business advisory expertise. If ever you are unable to reach one of them, another is able to assist you. Although employees tend to stay with Business Advisory and Accounting Partners for many years, if any one member of your team moves on or retires, you can rest assured that the remaining team members still know you well and can shepherd a smooth transition.
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