Customized Business Services in Staten Island
Building and running a small or medium-sized company can be both rewarding and challenging. As a business owner or executive, you wear many hats to keep your enterprise growing and thriving. You can benefit from the support of an experienced professional to help you manage your books and make the most of your cash flow.
Affordable Tax Solutions is a full-service accounting firm serving the Staten Island communities and surrounding areas. We offer comprehensive bookkeeping, accounting, planning, and tax resolution services. Our CPAs are dedicated to providing skilled support and first-class service for small and medium-sized business owners. Regardless of your industry, you've come to the right place. Call us today!
Advanced Accounting and Bookkeeping
Business accounting involves recording, tracking, and analyzing all your financial transactions, including purchases, payments, liabilities, and sales. Accounting may seem complicated, but it is critical, especially if you want to avoid cash flow issues and excess paperwork.
Our business services also include bookkeeping, generating financial reports, and filing tax returns. We accurately assess the value and health of your business, helping you make informed decisions and effective plans. When you come to Affordable Tax Solutions, we provide more than basic bookkeeping. Our CPAs will help you organize your ledgers, ensure accounting best practices and compliance, and reconcile accounts.
Convenient Cloud Accounting
With cloud accounting software such as QuickBooks®, you can seamlessly run your business on the go. At Affordable Tax Solutions, we leverage the power of QuickBooks to keep your accounts organized in the cloud.
This software lets you remotely track sales, send invoices, and see how your business is doing in real-time, from anywhere. Online accounting allows you to see bank balances and transactions, giving you a more accurate view of your business. You can make better decisions faster with precise financial data on-hand at all times.
How Does Account Reconciliation Help My Business?
Reconciling bank statements, credit cards, and other accounts allows you to keep track of your business capital. With our reconciliation services, you can be confident that the money you spend accurately matches the funds leaving an account. As a business, you'll be able to keep your budget on point, pay bills on time, and prevent financial statement errors.
Reconciliation also allows you to check for fraudulent activity. Our CPAs can perform these reviews at regular intervals, such as monthly or quarterly, as part of your routine accounting procedures.
Advantages of Cash Flow Management Services
Cash flow management involves tracking the amount of money coming into and going out of your business. It helps you predict how much cash will be at your disposal in the future. Our experienced CPAs will help manage your cash flow to ensure that you'll always have enough funds to cover repeat expenses, such as paying staff and suppliers. Through cash flow management, we can also help you spot trends, identify problems, and prepare for the future. The key benefits of cash flow management include:
- Ensures business success and longevity
- Helps you meet bank lending requirements
- Enables you to identify and avoid late payment penalties
- Allows you to forecast and plan for significant expenses
- Improves communication and relationships with financiers and suppliers
- Helps you identify important cashflow drivers and your Cash Conversion Cycle
- Helps improve processes to maximize profits and business value
Bank Financing to Support Business Growth
Small and medium-sized businesses face a wide variety of challenges when it comes to accessing capital. You might have significant purchases for office buildings and other fixed assets you require to run your business successfully. Our team can help you evaluate your bank financing options to secure affordable and flexible credit. We also offer evaluation and training to help enhance your 'loan readiness' so that you are better equipped to access financing when you need it.
Part-Time CFO Services
Managing finances plays a vital role in the growth and expansion of any business. As a small business, you could be struggling to determine your financial risks and identify opportunities. Our part-time CFO service can help you focus on critical financial elements without getting lost in daily business operations. We want to know what your biggest concerns are and the key issues your company is facing. By helping you understand expenses and the sales needed to cover them, you can anticipate the impact of a decision before executing it.
We can help you create a budget and generate projections that will give you the best financial information, allowing you to make strategic decisions and gain sustainable and profitable growth. Our part-time CFO services bring a lot of value to your business with high flexibility. Our CFO will help you find problems and suggest plans to resolve issues.
The Elements of Strategic Business Planning
Business planning is imperative in starting and running a successful business. You need to have a plan and fully commit to it to realize financial success when running a business. Our services help you document your business goals and achieve them.
A strategic business plan serves as a roadmap that you commit to following to help your business take advantage of every opportunity. Our CPAs understand the importance of a strategic business plan and will strive to create one that protects your assets and keeps your business profitable. We'll help you prepare a plan that meets the following requirements:
Measurable: Your business plan should allow you to track your progress in terms of numbers. It should include tasks, deadlines, budgets, forecasts, and dates. That way, you can track results against the plan.
Realistic: Our CPAs will study your business plan and ensure that it's practical and sustainable.
Specific: Your business plan should be specific to the needs of your business.
Financing Needs: We can help you cover your financing needs comprehensively based on your projected financial statements.
Payroll Services on Staten Island
Payroll management involves operations related to paying employees and filing taxes. Creating an accurate payroll requires a high level of expertise in accounting, and that's where our skilled CPAs come in.
Let Affordable Tax Solutions handle your payroll services as you focus on the growth and expansion of your business. We offer payroll solutions that are customized to meet the needs of your business. We can help with direct deposits, garnishes, collecting taxes, and making monthly payroll tax submission. This helps you remain compliant with state and federal requirements.
Your employees are required to file Form W-4 before our accounting team can begin managing your payroll. You also need to include records of benefits and deductions, time-off, overtime payments, and hours worked.
What is Business Valuation?
Business valuation is the process of determining the present economic value of your business. We can analyze your business for financial performance, assets, and liabilities, and any proprietary technology. Experienced judgment is needed to analyze these elements, plus the nature of your business and the economic conditions, to arrive at a reasonable estimate of your company's value.
4 Ways Valuation Can Benefit Your Business
When placing an economic value on your business, our analysts will examine your capital structure composition, your assets' market value, prospective future earnings, and your management team. Business valuation can help improve the performance of your company. Other benefits of our valuation services include:
- Funding: Valuation is essential when it's time to seek funds from lenders such as banks and credit unions. On top of other financial documents, you need a business valuation to negotiate with potential investors for financing.
- Planning: You need to have current information about your business's economic value to make informed decisions about your organization's future.
- Exit Strategy: When it's time to sell your business to a third party, you need to be sure that you are getting what your company is truly worth. A professional business valuation can help you be sure you walk away with a profit.
- Litigation: Litigation cases may raise issues that challenge your company's current value. Valuation can help you prove the true worth of your business when paying damages or settlements.
A business valuation is essential when making important decisions. At Affordable Tax Solutions, we are well equipped to give you an accurate valuation that depicts the current economic value of your business for planning purposes.
Turn to Affordable Tax Solutions for Business Services!
Affordable Tax Solutions is a full-service accounting firm serving Staten Island, New York communities, and neighboring locations. We offer many services for business owners, executives, and independent professionals.
What sets us apart is our affordability, experience, and friendliness. Our professional CPAs' knowledge and skill can give you the right strategies and tools to maximize your after-tax income. Call us today to begin the conversation with one of our skilled team members.