The truth is, most small business owners struggle with understanding what generally accepted accounting principles are and how the internal revenue service works.
But knowing how to read and analyze financial statements, income flow, and taxes is crucial if you want to maintain and increase your cash flow while reducing your expenses.
Since many small businesses aren’t ready to hire a full-time CFO, they unintentionally make one of the biggest mistakes in dealing with taxes and accounting:
Just following a program, doing your own quickbooks, filing tax forms, without truly understanding how things work may only result in a financial mess and put your business in a worse taxable position.
We understand the challenges that small businesses face. And we’re here to not only help you make ends meet, but also help you achieve financial freedom by pointing you in the right direction and avoiding mistakes that keep your business stuck in the rat race.
1. Significantly reduce time (and money) in dealing with accounting and taxes, so you can leverage your expertise and focus on the things that matter the most to you and your business.
2. Make better financial decisions for your business long-term–whether that’s hiring an employee, moving office spaces, or figuring out the best strategies for investment.
3. Easily understand the complexities of the financial aspects of your business, and finally put an end to all your struggles.
Whatever obstacles you might have–whether it’s handling tax returns or small business accounting–we got your back.
Our firm is one of the leading firms in the area. By combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention.
Our firm is responsive. Companies who choose our firm rely on competent advice and fast, accurate personnel. We provide total financial services to individuals, large and small businesses and other agencies.
An accounting firm is known for the quality of its service. Our firm's reputation reflects the high standards we demand of ourselves.
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Americans with children under 18 years - there is some good news for you! The Senate voted to pass the $1.9 trillion American Rescue Plan Act. Now you must be thinking how this can be beneficial for me! This act includes the provisions that increase the child tax credit to $3,000 per child for age range between 6 and 17 and $3,600 annually for children under 6 for the tax year 2021.
If you own and run a small business and need the best tax advice, then the best way is to get in touch with an expert certified public accountant. You may need to pay a few extra bucks but tackling the complicated stuff like taxes will become a hassle-free affair. Moreover, taxes represent one of the biggest expenses for many business owners. Therefore, when so much money is involved, taking assistance from an expert is completely worth it. At Foster Financial we suggest business owners meet an expert CPA like ours at least twice a year to plan the tax moves efficiently.
You are in the early phases of launching a business. Perhaps you are months away from launch, still figuring out how to incorporate, apply for business loans and work a cash register.