Business Advisory Services in Tarzana, California
Let us represent your business professionally. Hymes & Company APC, located in Tarzana, California, provides business advisory services, including tax planning and preparation.
Forecasts, Projections, and Budgets
When used properly, budgets are a valuable internal control device, holding departments, managers, and supervisors accountable for the budgets they set and explaining unfavorable variances. Budget-vs-actual comparisons also determine if expenses are missing or posted to the incorrect period. We assist you in constructing a meaningful budget for your company.
Tax Planning Services
Lowering one's tax bill for any given taxable entity (Individual, Corporation, S Corporation, etc.) begins with proper tax planning. This means efficient two-way communication between you and our office. When you give us advance notice of an upcoming transaction or issue, we prepare an appropriate selection of alternatives, structuring the transaction or issue for the least tax burden.
Income Tax Preparation
We represent you before the IRS and state tax agencies, helping to prepare income tax returns for the following entities:
- S Corporations
- Trusts & Estates
Below is a brief description of the accounting services our firm provides for businesses.
After-the-fact bookkeeping/write-up services
When we perform bookkeeping services for you - you are in effect "outsourcing" your bookkeeping function to our office. To perform the bookkeeping task, you provide our office (on a periodic basis) with your checks (copies), bank statements, and credit card statements so we may record and categorize the charges and disbursements. You also provide us with your deposit information listing your sources of the deposits - so we may record the income and loans funding your business. We then reconcile your accounts to the bank and credit card statements ensuring all transactions are accounted for. Then we discuss the results with you and focus on ways to improve your business. This is also an important control procedure for your company by having an independent party reconcile the company bank accounts and general ledger and review the results with management (and/or owners) on a regular basis.
There are several ways for our office to get your information:
-By fax, e-mail, courier, you drop it off, and we pick it up, US postal service, FedEx, UPS.
-We can also set up a scenario where you can log on to a secure ASP (Application Service Provider) on the internet (RightNetworks is such a provider we use) and you can log into your QuickBooks data file 24/7.
Delegating back-office tasks to vendors and specialists has been the fastest growing trend of good business management for several years now. An example of this is having companies such as ADP, Paychex, or Intuit prepare your payroll.
Now, a paradigm shift for operating the accounting department for small businesses has been occurring. Numerous smaller businesses have discovered that they can outsource their bookkeeping to a professional accounting office in the same fashion as they outsource their payroll task. New "ASP on-line" technology makes it possible for a professional accounting office to pay your bills, send out invoices and track payroll from their office. The business owner will still have 100% control over who is paid and when because only they can distribute money; our office takes care of everything else. The results are accurate books on your desktop computer in real-time. This leverages the small business owners' time to focus on revenue-generating tasks such as marketing and product development.
Outsourcing your bookkeeping task is a viable solution if you have ever been frustrated with:
- Realizing you will NOT increase sales by spending your time or management effort on back-office tasks like bookkeeping instead of spending your time on product development or marketing.
- Turn over in the bookkeeping department
- Bad bookkeeping records leading to high tax return prices and inappropriate business decisions
- Poor collections because invoices are done inaccurately or not timely
- Your spouse has to do the books when they don't really want to.
Finally, you can make good daily decisions on what customers, product lines, jobs or even employees are making you the most money. You can see problems before they show up as negative cash flow in your checking account. You can get a real handle on the parts of your business that work and fix what is dragging you down. That is the power of accurate books. If you are frustrated trying to build a great business with positive cash flow or just plain tired of dealing with paperwork, we would like the opportunity to show you what we can do!
Please call our office to discuss the mechanics of this process - as it is a very affordable method for you to concentrate on your business core competency by having our firm act as your accounting department.
We can maintain your employee's payroll using our QuickBooks software. You provide us the salary or hourly time and rates, and we compute the payroll for you and prepare the quarterly tax forms and annual tax forms (W-2's and 1099's). Further, we prepare the new hire notification forms necessary for compliance with state and federal laws.
Corporate Management, Advisory, & Controllership Services
For small businesses, a CEO or corporate controller or can easily cost well over $100,000 per year in salary and benefits (considering base salary, bonus, vacation, sick time, health insurance, Workman's comp insurance, payroll taxes, retirement plans, auto allowances and any other perks.) We have the experience and can provide insight to assist your operations. This way, you focus on operating your business, we focus on the financial and operational issues for you, and you get the results without having to pay for a full-time position and straining your budget. We assist you in standardizing your operations and "engineer out the chaos," so your business functions more efficiently and effectively. When this process is bundled with the bookkeeping function as described above, you can have access to your financial data 24/7 as our accounting office becomes YOUR accounting office!
Here's what you get with our Part-Time CFO services:
- More time to focus on new services, new customers and other core business issues
- Better understanding of the financial side of your business. So you have less surprises and more control over the money
- Improved decision-making capabilities from clearly seeing the hard and true numbers of your business
- A readily available sounding board to help you with those tough business decisions and help you clarify your business plans
- The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business
- A professional who establishes strong financial controls in your business to reduce employee theft and increase profits
- Training and managing your accounting staff
- Improved quality and timeliness of financial information
- Budget preparation and monitoring
- Profitability analysis by service or product line
- Tax saving strategies
- Trend analysis
- Assistance in defining long-range plans and the quantification of goals
- Cash management
- Liaison with bankers, attorneys, vendors, insurance agents, etc
- Assistance in obtaining financing from banks, including assistance with negotiations
- Review/negotiation of insurance policies
- Development of company accounting procedure manuals
- Analysis of equipment purchases, expansions, etc
- Custom designed collection policies and procedures
We support all of your accounting needs and back you up every step of the way. Contact us about outsourced bookkeeping.