Many CPA firms focus on one objective, minimizing taxes. While that is an important strategy it is not always the best for every company all the time. It is important for a business owner to identify and understand both their long and short term goals for their company and align their tax strategy to those goals. This is how our firm is different than most CPA firms as we help business owners plan and manage their tax situation rather than react to it when it is often too late. We get to know our clients and help them identify their goals so that we can build a tax plan that aligns with these goals. Our advisory services are tailored to help clients become compliant, tax efficient, get more organized, become more strategic in the way they manage their business and eventually monetize their most valuable retirement asset. We pride ourselves on being trusted advisors that are proactive with helping our client's business grow.
When a client engages our team for business advisory services we help them with four key areas:
FMA CPA has been providing tax and accounting services for more than a quarter of a century. Our team is very experienced and we go beyond what is expected from typical CPA firms.
We provide tax strategies with our client’s goals in mind. Minimizing taxes is one strategy, but it is not always the best in every circumstance. FMA CPA helps business owners choose the right strategies to be the most tax efficient they can be based on their goals.
As a business owner, it is important to have good information to make good decisions. We review our client’s financial statements and chart of accounts to make sure the financial statements reflect actual performance and provide meaningful information upon which to make decisions. We also analyze business expenses and look for opportunities to increase profitability and cash flow.
Budget and cash flow forecasting is important for business owners to ensure that their activities support their goals. We meet with our clients regularly to analyze their performance and adjust where appropriate. Our goal is to help our clients build value in their company and eventually transfer their most important retirement asset to their personal balance sheet.
Tax Preparation and Filing:
Review of current payroll process/provider
Annual Corporate Filing (State)
Analysis of Corporate Agreements
Business Expense Analysis
Accounting System Review
Chart of Accounts Analysis
Accounting System Clean Up
Review Status of Corporate Books
Risk Mitigation Analysis
Entity Selection/Corporate Structure
Business Plan Review
Create Custom Tax Efficiency Plan
Capital Needs Analysis
Personal/Corporate Tax Review
Audit Risk Review
Owner Compensation Strategy
Review of Auto Expense Policy
Fringe Benefit Analysis
Self-Directed Retirement Plans
Independent Contractor Vs. Employee
Hiring Family Members
Rental Property Strategies
Maximize Tax Credits
Review of Financial Management Tools
Support Acquisition of Financing
Review Succession/Exit Planning Strategies
Balance Sheet Analysis and Strategies
Strategies for Growing Business Value
Monetizing Your Business
Cash Flow Planning and Forecasting
Working Capital Needs Analysis
Rent Vs. Buy Analysis
Create Financial Management Tools
Acquisition Due Diligence
Our process starts with an initial meeting where our Relationship Team learns about the company. We learn about the company history, its current successes/challenges, and goals for the company and its owners. From this meeting we develop a list of tasks that we work together to prioritize and complete over time. Throughout the year we meet periodically to discuss the status of these tasks and schedule the next steps. Our goal is to help our clients identify those items that will help build value, improve profitability and stay on the path of accomplishing their goals.
FMA CPA uses a team approach when dealing with clients. Our staff has extensive experience in tax and accounting service and more than one staff member will interact with our advisory clients. Each client is assigned a team so that they have multiple people in our organization that knows and can support them. The relationship team consists of the following: