Now is the time to start getting records up to date for the end of the calendar year. Why?
- Items from the past six months will – hopefully – be fresh in your mind and you can make notes and reconcile your accounts.
- With everything up to date you will be ready to meet with a member of the CVW Accounting team in January or February to look at your business tax planning for the coming six months and financial year.
Fixed-price accounting services
The advice we provide clients is included in our fees. Plus, our fees are agreed upon before we start work.
A common misconception is our advice costs a lot of money. However, whether our clients visit us once or twice a year for advice and business tax planning, the cost is usually the same.
We are highly experience at what we do, thus a quick review of information by CVW Accounting staff often identifies major or minor issues that require attention. These items often save a business a lot of money. The only reason a business owner doesn’t always identify an issue is because they are so focused on working in the business that often the processes fall behind.
Doing the work
When considering business tax planning we look at things like;
- cash flow
- wages / taking your reward from the business
- how the business is running
- solutions to increase profit
- ways to improve efficiency
Businesses aim to make money. As a Director if you cannot afford to take out a wage or your reward, then perhaps you have too much stock, the business may not be invoicing frequently enough or you may need to change your terms of trade.
In our experience when starting and running a business people make two main mistakes. They are;
- They don’t have their eye on the running of the business
- They don’t have the knowledge to make it work
As accountants, we provide business advice and can easily tell by looking at the numbers if something is wrong.
As our Director Stephen Vining explains, after decades of providing business advice he can quickly ID issues, problems and where the money is going.
“We can walk into our clients work place and before even looking at the books we can see items that need attention and action,” he said.
“From here we can provide tax advice and discuss planning and moving forward so the business and the individual thrives.”
As we approach the end of the calendar year consider scheduling some time to get your business accounts and records up to date and then drop CVW Accounting a line to book an appointment in the new year.