Advisory Services

We offer value added services that help you structure and manage your business to its best advantage. We help new businesses get off the ground and provide objective assessments of existing ones. We help you establish policies and procedures to protect vital assets and perform audits to ensure the integrity of your records. You reap the benefit of increased efficiency, control, and insight.

New Business Formation

Are you thinking of joining the ranks of small business owners? Along with a great idea and strong sense of the market you’ll serve, you’ll need a business and financial advisor who can help your dream take flight while keeping your feet firmly planted on the ground.

We can help you:

Develop or refine your business plan with the associated pro forma financial statements (Balance Sheet, Income Statement, Cash Flow) and budget
Select a business structure that suits your needs by considering tax advantages, legal exposure, ease of operation, and portability
Develop partnership agreements, as needed, to avoid financial and/or emotional trauma downstream
Prepare and file all required state and local licenses and permits.
Make application for your Federal Employer Identification Number.
Identify start-up capital needs and available resources to address them
Examine your borrowing power and provide coaching on how to cultivate a mutually beneficial banking relationship
Identify your business insurance needs
Select the right accounting software and establish the appropriate chart of accounts
Establish billing and collection procedures to maximize your cash flow
Establish procedures to monitor and control costs
Provide payroll and payroll tax filing when and if you hire employees

We’re eager to get your business off to a good start.

Internal Controls

We help you establish appropriate internal controls to ensure proper handling of resources and guard against employee theft. Some best practices include:

Segregating duties across multiple individuals to minimize exposure to error and inappropriate behavior
Establishing lines of authority and the associated processes for transaction approval
Assigning responsibility for periodic review and reconciliation of financial records by someone who was not involved in executing transactions or preparing statements
Scheduling periodic manual counts of equipment, inventory, and other tangible property to ensure alignment with the accounting records
Documenting policies and procedures as guideposts for your employees’ day-to-day activities
Training employees on their respective job duties and establishing appropriate levels of ongoing supervision
Reviewing operations to ascertain whether results are consistent with established goals, objectives, and protocols

Tax Planning

Proactive planning is the key to minimizing your tax liability. We work with businesses and individuals to pay the least amount of tax required by law. A few of the strategies that we consider include:

Splitting income among several family members or legal entities to take advantage of lower income tax brackets
Shifting income or expenses from one year to another when it can yield a lower tax rate
Deferring or eliminating tax liability through use of tax-advantaged investment vehicles
Tracking all expenses eligible for itemized deduction
Taking advantage of tax credits

Your unique circumstances will determine the strategies that we can employ to maximize the money you keep in your pocket.