Atlanta CPA on…Prudent Entrepreneurs Plan…And Then Plan Again
Atlanta CPA on…Prudent Entrepreneurs Plan…And Then Plan Again
Avoid Failure: Think Ahead (Squirrels to it and you’d be nuts not to do it as well)
Prudent entrepreneurs plan, not because their CPA tells them to, but because they understand that it increases their chances for success. Although, there are a few successful companies whose owners fly by the seat of their pants and never get around to writing a business plan. However there are many more who fail for the lack of a formal plan, not because of it. How much better might they have done had their good ideas been coupled with some strategic planning?
While preparing taxes we work with our clients to ensure that we also serve as a trusted adviser offering:
Tax Planning
Financial Insight
Part-time Virtual CFO Services
Be sure that you work with a CPA who is much more capable than just being a bean counter. The below is a sample letter we might send to a client to help them with not only their financial and tax issues but their management issues as well:
Got the data for your returns and noted that I need…
Copies of W-2′s and W-3
For you to adjust your internal books so that total retained earnings other than stock at 12-31-10 should be $10,000.
I would anticipate that the $15,000 of deposits on the Balance Sheet that have now been there for over a year are now income. Please review/advise. To record this as income you will debit Customer Deposits and credit Sales.
Please forward any cash contributions to charity, interest income, dividends, capital gains etc.
Last year you had some independent contractor income. Please advise as to any 2010 amounts.
Please forward your mortgage interest and student loan interest as it was not in the original information forwarded.
Evaluate your allowance for doubtful accounts against your accounts receivable ageing while paying particular attention to problem accounts and those over sixty days due.
Evaluate setting up a line of credit to help fund any unanticipated changes in cash flow or perhaps even more important growth issues. We do not want to forgo any prudent business opportunities for failure of a lack of cash.
After you have made all of the changes please resend your balance sheet and profit and loss.
Do not hesitate to call might you have any questions.
Need Help With Your Atlanta Financial Statements or Bookkeeping?
His CPA PC…A Christian CPA Firm: Never Underestimate the Long Term Benefits Serving as a Metro Atlanta CPA for Decades www.HisCPA.com
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