FAQ

Relating to Business

Can you help me put together a business plan?

We believe a well-conceived business plan is essential to help the business owner chart the course of his business. We work with business owners to develop the overall content of the plan and the reasonability of the numbers behind any projections. We also help with annual budgets and cost accounting issues for manufacturers.

What business form should I use? How do I incorporate?

Our firm meets with you to determine how you will run your business, if you will have investors, and how the business will be capitalized. From that information we can recommend a preferred entity structure that protects your assets and minimizes taxes.

Can you help evaluate these numbers to see if I should buy or start this business?

We can use our 25+ years of experience to help analyze the past performance of similar businesses, their trends and future prospects. We also look at the potential new owner’s skill set and objectives to help determine if the business can be a profitable venture.

Can you help me get a loan, get insurance, my banking relationships and other business relationships?

Our firm has developed strategic relationships with bankers, attorneys, insurance agents, and many other businesses. This enables us to help our clients resolve a variety of business needs from getting office supplies to obtain a loan or line of credit.

Do you provide accounting and tax services for “Not For Profit” organizations?

We provide the same level of accounting guidance as we do for “For Profit” companies. That includes help with the accounting system and internal controls, preparing compiled or reviewed financial statements and completion of annual tax returns.

Do you recommend I use QuickBooks for my business and can you help set up the overall accounting system?

Our firm is certified to consult on QuickBooks. Our staff provides friendly and knowledgeable installation and training in QuickBooks. We can have you up to speed in no time. We also provide periodic review and analysis of data input for correctness and accuracy. This ensures that the reports you generate are meaningful and can help you manage your business.

Do you do business taxes?

We prepare all corporate, LLC, and partnership returns on a timely basis. We can also help with the filing of state returns, sales taxes and payroll taxes. We can also address letters and questions from the IRS and state and local taxing authorities.

On a personal note

Should we file jointly or separately?

Can you guide us on what our charitable contributions and how to maximize our deductions?

How can I reduce my taxes?

Our firm encourages timely proactive tax planning to help maximize deductions and use the proper filing status to reduce or minimize taxes and avoid penalties. We help set up estimated tax payments as needed. We meet with clients throughout the year to determine the tax effects of various life events to minimize surprises at filing time.

How much should I contribute to my 401K, IRA, Roth or other retirement plan?

While we are not financial advisers, but rather tax advisors, we can give you guidance on retirement plan rules and benefits and when the contributions to the various retirement plans must be made.

We can also help with IRA rollover or Roth conversion strategies and recommend a competent financial investment person to help you protect and maximize your investment assets.

Can you help with the various credits available for college tuition, energy credits, and other periodic tax savings the government offers?

We attend 25 to 60 hours of individual tax courses to ensure we are up-to-date on the latest credits and other tax-saving strategies each year. Because of our large personal tax client base, almost all tax credits are used by someone annually.

Can you help me complete the FAFSA form?

We extract the primary amounts for the FAFSA form used for college tuition assistance from your personal tax returns and other financial reports from bank or investment firms. Since the deadline for the FAFSA form comes two months before individual tax returns are due, we can help prepare the form using reasonable estimates where needed.