As a small-business owner, do you use an accountant? If so, what for? Does your accountant only take care of your tax returns?
If you are like most small business owners, that’s the case. In addition, the bulk of bookkeeping likely falls on you or a “non-accountant” employee.
Lloyd Cazes has some tips for small businesses about how to improve their odds of success by utilizing an accountant more widely. In small business there are two cultures: Payroll and Accounting. Very few accountants used to offer payroll services.
We created the first payroll-processing center for individuals and small business. We do everything behind the scenes for them. We do direct deposit, tax deposit, filing of tax forms, W2s and 1099s. Our office has a proven track record of helping individuals and small business accumulate wealth and preserve their hard earned assets.We can implement unique strategies that optimize business productivity and increase efficiency in your operations. This always results in increased revenue and preservation of profits.
What kinds of problems does Lloyd Cazes accounting solutions help solve?
One of the biggest problems accountants have is the mess that clients make in the bookkeeping system. Many use something like QuickBooks. Most small businesses do not know much about accounting. Lloyd Cazes has extensive expertise with Quick Books and instructs other accountants and their clients on how to work collaboratively and avoid making mistakes.
According to the Bureau of Labor Statistics, about half of all small businesses fail in the first five years.
Given that fact, our survey found that only about 15 percent of small businesses use accountants to do all of their accounting work. Another 20 percent, if they had the option to give their accounting work to an accountant, said they would be likely to consider it. In addition, the survey found that more than 50 percent of small-business owners spend less than 10 hours a month on accounting work. Another 20 percent spend about 10 to 24 hours a month.
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The question is not about spending more time on accounting but it is more about the need for small business owners to understand how accounting professionals can help them manage their business. Many small businesses use accountants just for preparing tax returns. They don’t understand the meaning of all those numbers. A lot of it has to do with managing cash flow, something the accountant can help with.
What are some other advantages of using Lloyd Cazes Accounting Solutions?
Many people are profitable in business but they experience a cash flow crunch that they failed to project. They run out of cash at a critical time even though in the future they have the potential to make more money. It is important to understand the need for professional help with cash flow projections. What scenarios do I have for growth? What are my expenses? How can I balance growth with those expenses?
You’re saying a professional accountant can help with these sorts of problems?
Certainly. The right professional may help you realize that sometimes it would be good to grow at a slower rate and keep expenses under control. On the other hand, sometimes you actually can grow fast and still not have those cash flow problems. These are the kinds of things a professional can help with.
Are there other ways a professional accountant can help?
Lloyd Cazes and his accountants devoted several hours to understanding the nature and complexity of a technology enterprise. With this knowledge of a rapidly expanding technology business, Lloyd Cazes developed a customized tax and profit sharing solutions that ultimately provided optimum return on employee investment and increased profit margins for the last 8 years.
When an owner (business or individual) prepares to sell a capital asset, the owner should consider the opportunity to defer the taxes with a collateralized installment sale. The gain on the sale in this type of transaction can be tax deferred for 30 years. Lloyd Cazes can structure the transaction as a “Monetized Installment Sale”. Proceeds are paid to the seller at the closing as in any sale, but taxes on the gain are not due for up to 30 years. Learn more…