My Story
Only 50% of small businesses last beyond 5 years. While there are a multitude of factors that can lead to failure, I find that a firm understanding of numerical figures is paramount to survival. After serving as a CPA for 100+ small businesses, I shockingly found that almost all of them neglect their accounting. I have realized that the neglect is not due to laziness or disregard – but rather intimidation.
Accounting has a stigma – that it is boring, tedious, and incomprehensible. You wouldn’t believe the number of clients I have come across that do not dedicate any time to analyzing their figures, ultimately leading to the demise of their business. Unfortunately, there is no educational platform or tool that can help business owners truly realize the value of regularly assessing their finances.
It still amazes me today to see that almost all small business owners who I have serviced ask me the same questions every year. In essence, I have identified what I believe are the most crucial financial concepts to consider. These concepts have laid the foundation for Tax Hero Consulting. My goal is simple: help small businesses succeed by making accounting easy to understand. Rather than being overwhelmed with balance sheets, spreadsheets, and tax forms, I aim to simplify the financial process so that fear, intimidation, and disregard are no longer barriers to understanding accounting.
Services
#1
Periodic Financial Checkup
What trends are you noticing this year? What percentage of your revenue is your payroll expense? How is your company performing relative to prior years? These are all questions you should be asking yourself as a business owner. I assist with generating the reports and diving into your figures to find the answers.
#2
Tax Planning
Whenever the word “tax” comes to mind, the immediate thought is that it’s time to fill out forms. However, the understanding goes well beyond this notion. Proactively assessing your business profitability can help eliminate any unwanted surprises when it is indeed time to file your return. It is also imperative to ensure your business is setup in the most favorable structure desirable.
#3
Technology Integration
You would be surprised to learn that technical accounting and tax concepts are not the most useful skills I have acquired while working as a CPA. Instead, the proper use of today’s software tools can completely overhaul your accounting system. The notion of a bookkeeper mindlessly entering in vendor names, payment dates, and transaction amounts is a thing of the past. Web tools have made it possible to automate the cyclical accounting process – from beginning to end.
Testimonials
After working with Tax Hero Consulting, I was able to truly understand the implications of my business and how to dive deeper into the numbers I once considered daunting.
I almost feel guilty for not taking the measures that I have now learned. It is now apparent that it is my responsibility to utilize the tools that were made available to me by Tax Hero Consulting.
I always skimmed over my financial reports, but now have a stronger understanding of how to use them to my advantage. It is amazing what I have learned about my business simply by diving into the numbers.
