The performance of your company and its bookkeeping are directly linked to your tax return. Your financial statements let you know how your business is doing and your tax return reveals your deductions. If you are making important decisions with bad information, you are “flying by the seat of your pants.”
This month we celebrate America's Independence Day. Take pride in being an American!
Independence Day, or the Fourth of July is the adoption of the Declaration of Independence by the Continental Congress on July 4, 1776.
We hope you have a safe and fun celebration with your family, friends and loved ones!
"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."
A client came to us frustrated with the management of his 2 companies. In his gut, he knew that the economy was affecting his profits, but he was lost on how. Admin Books provided a monthly review of his financial statements. With this review, we coach the owner around different financial aspects of his business. First, we looked at his income trends and review how the client can offer additional income streams. We look at budgets and where there is overspending, focusing on 3 categories. We drill down on labor and material costs to check and improve profit margins. One company was making money and the other was losing money. Admin Books looked at financial strategies to reduce tax liability and get every deduction allowed. Do you understand what your financial statements are saying to you? Can you rely on them to project the health of your company?
Sadly, my CPA passed away unexpectedly. Not only did I have 3 outstanding financial issues. I had unexpected revenue that was throwing off my estimated taxes for the year, my payroll was behind by 1 month and we also needed to calculate 401K contributions for both personal and business contributions. I immediately went to the Dave Ramsey’s web site and got the best ELP I could have imagined. Renee Daggett and her team are incredible! During this emotional time for me Renee understood my situation. She quickly identified an action plan and put me at ease. Within 1 week payroll was caught up, payroll taxes were paid, 401K contributions and the estimated taxes were calculated and I was back in business! Brent Eberle - bRecruiting Inc.
• SOLVE your cash flow issues
• Be CONFIDENT you are getting every tax deduction allowed
• Know how much REVENUE you need to cover your operating expenses
• Have KNOWLEDGE about your tax situation and reducing your tax liability
• Increase PROFITS; no more running at a loss or breaking even
• Be AWARE about what you can expect at tax time - no surprises
• RELY on your financial statements
• Know how to AVOID red flags on your taxes and reduce the odds of IRS audit
• IDENTIFY your top 10 clients
• Be PROACTIVE
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