Is your company losing dollars due to unnecessary business expenses or inefficiency?
Are you paying too much in taxes? Is your business utilizing all of the latest tax breaks and incentives available with the new Tax Cuts and Jobs Act?
Does your business have the right contingency plans in place for unexpected events that could sink your business?
For most of us CPAs and Accountants are considered our "most trusted adviser." The fact is, aside from tax preparation, audits and financial statements, most successful business owners increasingly look to their CPA/Accountant for help with many other needs, including:
For most CPAs and Accountants these other areas of need either fall outside of their training and expertise, or the firm is not proactive in addressing these needs. Indeed, they are so busy with tax and compliance work - reactive services - they have little time or resources to proactively address these important issues for their clients.
The result? According to a survey completed in 2014 by the Sleeter Group, 72% of small business owner respondents said they have changed their CPA or accounting firm in the past at least in part because the firm "did not give proactive advice, only reactive service". More than 60% said this factor played a significant or large role.
Elite Business Resources uses a CPA team based approach. We are well-equipped to help the small business owner increase their bottom line. We do this by partnering with a nationwide network of experts in an array of various disciplines. Each member of our team focuses on a particular niche to help our clients. Together we are able to reduce unnecessary expenses, reduce taxes and reduce risk for our clients. Our team's skill and expertise is comprehensive, including:
We will work with you and your CPA to help you increase your profits. We'll analyze your business to determine if there are untapped means that are currently being overlooked or underutilized.
A 30 point audit process that identifies cost reduction for businesses.
Business owners of all sizes.
When business owners are interested in lowering business expenses.
Provides immediate savings and competitive advantages.
Proven system produces 28.2% average savings, 98% of the time.
Did you know that more than $10 billion in federal R&D tax credit benefits alone are given out annually. An article by Forbes, March 3, 2013, states that, "Unfortunately, while big companies wring all the dollars they can out of the credit, only one out of twenty small and medium size businesses take advantage of it. "
This means that 95% of small and medium size businesses are paying more in taxes than is necessary.
Why? Small and medium sized business owners and their CPAs are either unaware of these available Credits and Incentives, or they don't understand the details of who is eligible and how to claim.
"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes.
"Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."
Business taxation is a complex field, and business managers would be well-advised to consult with experts to ensure they are complying with all relevant federal, state and local laws while at the same time securing the most favorable tax treatment possible for their business.
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