Unless you are a one person shop, chances are you employ a bookkeeper or have an accountant helping you or preparing your books and financial statements. Even if you are handling all of the accounting on QuickBooks, you most likely have a bookkeeper or accountant reviewing the work.
Because all of your money, your cash flow, your billings, collections, payroll, accounts payable, accounts receivable, and last but not least, your taxes, flow through this bookkeeper or accountant, it is critical that you don't just "record history" for your business. Many accountants are great at recording history, but few actually are experts at dealing with small and medium sized businesses and helping you with business planning and creating wealth.
If you had the money, you would invest in and hire a CFO (Chief Financial Officer) that would not only make sure your checkbook is balanced and your collections were up to date, but would answer tough money questions and give you strategic advice on issues like:
Unfortunately, a bookkeeper or average public accountant won't know the answers to these questions. Often even a good bookkeeper or accounting firm will give insubstantial or bad advice or answers because they don't deal with business owners every day and the unique aspects of a business.
Bad Financial Advice Can Cost You Thousands of Dollars
Understanding this, we built an accounting and tax preparation service just for business owners that we call Virtual CFO & Tax Preparation.
For a fixed monthly fee, we will balance your books each month, complete your annual corporate tax returns, generate financial statements for your business, and once a year speak to you about preparation of a financial health assessment that overviews your financial strengths and weaknesses. In addition, you can have unlimited discussions by telephone or at our office with our internal experts. These include CPAs, business valuation experts, investment and financial planners, payroll specialists, and tax return specialists.
As part of this Virtual CFO & Tax Preparation service, we perform the following: