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Business Advisory

Have You Had A Strategy Session With Your CPA Lately?

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.

 

 

Business Advisory Services:

When a client engages our team for business advisory services we help them with four key areas:

Compliance Services:

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.

Tax Efficiency Services:

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.

Organization Services:

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.

Strategic Financial Services:

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.

 

 

AREAS OF ENGAGEMENT*

COMPLIANCE SERVICES:

Tax Preparation and Filing:

  • Corporate
  • Personal
  • State

Accounting Services

Payroll Services

Review of current payroll process/provider

Annual Corporate Filing (State)

ORGANIZATIONAL SERVICES:

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

TAX EFFICIENCY SERVICES:

Create Custom Tax Efficiency Plan

Capital Needs Analysis

Personal/Corporate Tax Review

Audit Risk Review

Owner Compensation Strategy

Accountable/Reimbursement Plan

Review of Auto Expense Policy

Fringe Benefit Analysis

Self-Directed Retirement Plans

Independent Contractor Vs. Employee

Hiring Family Members

Passive Income

Rental Property Strategies

Maximize Tax Credits

STRATEGIC FINANCIAL SERVICES:

Review of Financial Management Tools

Managing Debt/Leverage

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

Profitability Analysis

Feasibility Studies

Rent Vs. Buy Analysis

Create Financial Management Tools

Acquisition Due Diligence

 

 

 

 

Business Advisory Process:

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.

 

 

Relationship Team:

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:

  • Relationship Manager – The lead advisor responsible for managing the client relationship and process
  • Lead Accountant – The accountant that ensures that financial information is accurate and is representative of the business activity.
  • CPA – The person responsible for formulating the tax efficiency plan