How Tax Planning Now Can Save You Money Come AprilPosted on January 8th, 2019
Reducing your overall tax liability is one of the quickest and smartest ways to increase your bottom line. This can be achieved through strategic tax planning and professional tax preparation. Planning for taxes throughout the year means entrepreneurs won’t miss out on the opportunity to save revenue generated from their business.
Companies can make better business decisions by incorporating smart tax planning strategies, such as documenting their expenses and taking advantage of additional deductions, helping them to keep more of their hard-earned money. Here are a few suggestions you can start using today to manage your business’ taxes.
Invest in Small Business Accounting
Companies utilize small business accounting solutions for many reasons, including:
- To accurately track revenues and expenses and determine liability.
- To managing cash flow more efficiently.
- For consistent and accurate record keeping of profit and loss statements.
Consider Tax Preparation
Investing in tax preparation and filing services can save your business money and give you back precious time needed to run your business. Also, an expert can help you find deductions and take advantage of credits you may not be aware of.
Because tax regulations are extremely complex and always changing, your business will benefit significantly from hiring a professional who can stay on top of these changes. Knowing the latest policies will result in dividends paid out at the end of the year when it comes time to prepare your tax records and documents.
It is vital to your company’s financial success to review your state and federal tax policies on a minimum yearly basis and remain proactive with your tax planning. Examine the year prior’s tax return and strategize with an accounting expert on how you can reduce the amount of money owed in the current fiscal year. A professional can help you plan for changes in the tax laws, meet filing deadlines, and formulate a plan to reduce your tax burden.
Extensions, Quarterly Payments, and Withholding’s
Filing an extension can give you the time to calculate your estimated tax and avoid future interest and penalties, which add up quickly if you let the deadline pass. A professional can assist with extension filing, arrange quarterly tax payments and help you devise and implement payroll withholdings. Taking advantage of their insight can help you position yourself for a multitude of tax breaks and increase your bottom line.
Learn More About Your Tax Solutions
Located out of Denver, Colorado, 4Corner Business Solutions has the knowledge and experience to help you get the most out of your financial necessities. Contact us today for a full consultation to see how we can help you today.
Benefits of Hiring a Part-Time CFOPosted on September 6th, 2018
Full-time accountant positions are expensive, and your growing firm probably does not yet need someone working on your finances around the clock. The best way to fill the accounting leadership role is to hire a part-time individual that delivers what you need. Part-time CFOs are your best bet for managing the business’ books.
At 4 Corners Business Services, we have accountants who are skilled financial officers. They can fulfill any level of accounting experience necessary and make your accounting operations a success.
Executive-Level Experience at Low Costs
The two things a business needs in a CFO are experience and knowledge. You need someone who has managed high-volume accounts and understands how to protect the bottom line through practical policy. Finding someone with this know-how is cost-effective if you hire them through an accounting firm, saving you from paying their salary and benefits while obtaining the assistance you require.
Having a CFO on your team is crucial for the business’ health. They examine the financial details, the long-term history, and the big picture to understand where the company is and direct it toward the established goals. If they serve in the controller capacity, they will introduce company guidelines to minimize fraud and increase the efficiency of accounting systems.
In terms of securing the bottom line, the officer is always ahead of tax policy changes and how they will affect the business. Opportunities for credits and deductions are factored into the budget ahead of time, all to establish the business’ financial credibility.
Insight is key to understanding your business’ profitability. CFO’s provide advice based on analysis and the current profit targets, whether offering strategies for cutting long-term costs or new ideas to expand existing services and products. When you wish to sell the business, obtain a loan, or complete a merge, the part-time executive prepares the finances.
Contact 4 Corner Business Services for Accounting Expertise
Our part-time CFOs serve businesses in and around Denver. With our skilled accountants on your executive team, you can trust that your financial operations will be successful, allowing you to improve profits.
For a one-on-one consultation with our professionals, call us today!