Our Comprehensive Financial Services
Monthly Bookkeeping
In the dynamic world of business, financial awareness is key, and at Aware CPA, I’m committed to illuminating your path towards success with expert guidance, all year round. My monthly bookkeeping service goes beyond the usual record-keeping by not only tracking, categorizing, and reconciling every financial transaction across your bank, credit card, and loan accounts, but also transforming this data into a tangible roadmap.
Together with this comprehensive bookkeeping, I provide monthly reporting which includes essential financial statements such as Profit & Loss, Balance Sheet, and Cash Flows. These reports offer you a clear, detailed snapshot of your financial position, telling your unique business story through its fiscal activity. But it’s not just about presenting data – it’s about empowering you with the knowledge and insights that enable informed, data-driven decision making.
With Aware CPA, bookkeeping and reporting are not merely administrative tasks. They are integral tools that shine a light on your financial health, providing clarity and guidance, and facilitating your business’s strategic growth all year round. Because at Aware CPA, your financial clarity and success are our shared goals.
Income Tax Returns
At Aware CPA, I simplify the intricate world of income tax for businesses and individuals alike. Embodying the ethos of financial awareness and expert guidance, I ensure your tax obligations are strategically addressed to maximize your financial position. I delve into a meticulous review of your business and personal financial activities to capture all relevant deductions and credits, leading to optimal tax efficiency and full compliance.
The approach I take is comprehensive, extending beyond just the current tax year. I offer insightful reviews of past tax returns. If I spot overlooked opportunities or errors, I’m ready to prepare amended returns, ensuring you capitalize on every tax advantage, even retrospectively.
By entrusting your income tax preparation to Aware CPA, you are choosing stress-free tax seasons and the confidence of knowing you’re paying no more than your fair share.
My role goes beyond just preparing your taxes – I provide year-round guidance, keeping an expert eye on your financial landscape, and leading you towards the most beneficial tax outcomes.
Financial Forecasts
In the ever-shifting landscape of business, having a clear vision of the future is paramount. That’s where financial forecasting comes into play, acting as a beacon to guide your venture’s path, especially when it pertains to cash flows. As they say, “Cash is king.” This isn’t just a catchy phrase; it embodies a fundamental business truth. While profits elevate a company’s stature, it’s the cash at hand that keeps operations smooth, opportunities viable, and challenges manageable.
But here’s the real kicker: crafting these invaluable forecasts isn’t a solitary affair. At Aware CPA, we believe in a collaborative approach. We work on these forecasts together, live. This synergy combines your first-hand knowledge of the business with my expert financial guidance. It’s an interactive process, providing you with a unique learning experience as well as a robust projection.
Efficient cash management through accurate forecasting can make the difference in your business’s ability to navigate both calm and stormy financial seas. For instance, consider the potential of launching a new product line. There’s excitement but also inherent financial risks. How will expenses evolve? What might the revenue curve look like? A forecast doesn’t just predict these figures; it provides a roadmap, showing potential cash positions under various scenarios—best case, average expectations, and worst case.
Beyond just crafting a financial projection for the upcoming month or quarter, we pride ourselves on the flexibility of our forecasting tools. Any variable can be adjusted, tweaked, or fine-tuned, ensuring that you’re equipped with the most comprehensive and customizable insights for decision-making. Whether you’re considering an expansion, weighing a significant investment, or simply aiming to keep daily operations flowing, our adaptable forecasts are your go-to compass, leading the way through the business world’s many intricacies.
Accounts Payable
At Aware CPA, I approach your Accounts Payable (AP) management with an eye for precision and a strategy that enhances your financial health. This service extends far beyond merely paying your bills—it’s about fostering stronger relationships with your vendors and managing cash flow effectively.
Every bill paid is done so with your approval, meticulously processed to avoid any errors or late fees. I take charge of reviewing your AP aging reports, proactively identifying any past due bills, and strategizing on payment prioritization. It’s not just about when the bills get paid; it’s also about devising a plan that maximizes your cash on hand while maintaining positive rapport with vendors.
Additionally, I serve as your frontline in managing vendor AP requests, providing a seamless, professional interface between you and your suppliers. This alleviates your internal team from these tasks, giving you the freedom to channel your efforts towards growth and innovation.
With Aware CPA handling your accounts payable, you gain the advantage of strategic bill management, improved vendor relationships, and better cash flow control—all elements of ensuring financial awareness and providing expert guidance, all year round.
Tax Projections
Preparing for tax season shouldn’t be akin to reading a thriller novel where you’re left guessing the outcome until the last page. Instead, at Aware CPA, we believe in penning your financial story with clarity from the outset, and our tax projection service plays a pivotal role in that.
Peeking into the future, our tax projections give you a sneak peek into what you might owe come tax time. No crystal balls used, just solid expertise and experience. We take a deep dive into your financial landscape, recommending strategic retirement contributions, optimizing that tricky qualified business income deduction, and giving a once-over to your year-end payroll for compliance. As we evaluate potential income and deduction events, our projections shape up to be both accurate and insightful.
The cherry on top? By working with us, you get actionable strategies and the delightful tidbit that our fee is, in fact, deductible! And because we’re all about the details, we’ll provide you with a tailored estimated tax payment amount, ensuring you’re compliant and steering clear of unnecessary penalties and interest. Remember, with us, you’re not just getting a number – you’re getting peace of mind. Because tax surprises are one kind of surprise nobody wants.
Income Tax Notice Representation
Income tax notices can be a source of confusion and concern for many businesses. They may pertain to discrepancies, requests for additional documentation, or other issues that tax authorities want to clarify. As part of my service commitment at Aware CPA, I offer comprehensive responses to all income tax notices for the years during which you are an active client.
To ensure clarity: If you become an active client in a given year, let’s say 2023, I will assist with any income tax notices pertaining to tax filings or situations that arose during 2023 and thereafter. However, for notices relating to periods before our engagement, while I won’t be responsible for actions taken prior to our partnership, I am available to offer guidance and insight on how best to proceed.
For a holistic understanding of any tax notice, I will request authorization to access your online tax accounts. This enables me to get a full picture, conduct thorough investigations, and frame the most appropriate and effective responses. By having this visibility, I can proactively address any potential issues, ensuring a smoother relationship with tax authorities.
Rest easy knowing that with Aware CPA on your side, every tax notice is handled with meticulous care, precision, and timely action. Your financial awareness is our mission, and providing expert guidance all year round is our commitment.
Historical Bookkeeping Cleanup
Starting our financial journey together on the right foot is essential. Often, businesses accumulate inconsistencies or errors over the years, which can cascade into bigger challenges down the road. That’s where Aware CPA’s historical bookkeeping cleanup comes into play.
Our approach is thorough and systematic. We begin by comparing your prior year’s bookkeeping records with the corresponding tax return, ensuring they align seamlessly. This alignment is pivotal, as it forms the foundation upon which future financial decisions are made. In instances where discrepancies are found that might affect your tax filings, an amended return might be necessary. It’s crucial to note that the preparation of such an amended return would incur an additional fee.
After rectifying past records, our focus shifts to the current year. We’ll diligently ensure that your bookkeeping for the present year is both accurate and up-to-date. This meticulous process not only aligns your historical data but sets the stage for consistent and precise monthly bookkeeping going forward.
Think of this cleanup service as a recalibration of your financial systems. By ensuring everything from the past is in order, we can confidently provide you with the utmost accuracy in future reports. This isn’t just about looking back but setting up for a future where financial awareness is maximized, and you receive expert guidance, all year round. Your financial clarity and confidence are paramount, and this service is a testament to that commitment.
Budget Vs Actual Variance Analysis
In the business world, staying on course is a bit like navigating a ship through changing waters – there are predictable currents, but also unforeseen challenges that might push you off track. This is where our Budget vs Actual Variance Analysis comes in, acting as your trusted compass.
The process starts with an intricate review of your company’s accounting. We’ll roll up our sleeves, diving deep to identify which expenses can be predicted from the data itself. But numbers, as we all know, tell only part of the story. To get the full picture, we schedule a collaborative review with you. Here, we discuss the nuances: Are there plans to expand a particular segment of your business? Are you eyeing a major equipment purchase? Or perhaps there’s a software you’re considering parting ways with. These insights, coupled with our analytical prowess, shape a comprehensive annual budget tailored for your business’s aspirations.
But the journey doesn’t end there. Each month, you’ll receive a detailed analysis comparing the actual figures against the budget. These reports aren’t just about tracking numbers but are tools to spot anomalies, assess performance, and ensure that your business is consistently aligned with your annual goals.
And here’s the golden nugget: tasks like these usually fall under the purview of a controller, often at a considerable cost. With Aware CPA, you get this high-level expertise and more, but without the hefty price tag. Think of it as a high-quality financial GPS, ensuring you’re always heading in the direction of success.
Accounts Receivable
Prompt and efficient collection of receivables is a crucial element to maintaining a robust and healthy cash flow. At Aware CPA, I offer a comprehensive Accounts Receivable (AR) management service that ensures you’re paid accurately and promptly for the services or products you offer.
This service encompasses the creation and virtual sending of invoices, meticulously designed to reflect the correct products, services, and payment terms. I constantly monitor your AR Aging reports to identify any delinquent payments, enabling me to initiate prompt follow-up procedures for late-paying customers. This proactive approach not only helps maintain your cash flow but also strengthens your business’s financial stability.
In addition, I provide an ongoing review of payment terms for each of your customers to ensure they’re conducive to your cash flow and overall business strategy. This regular review ensures your AR operations remain optimally aligned with your business goals and market fluctuations.
Moreover, I act as a point of contact for your customers regarding any AR-related queries, providing them with the necessary support and managing all customer-related matters proficiently. This hands-on approach aids in fostering better relationships with your clients while enabling your internal team to concentrate on core business activities.
With Aware CPA, you receive more than just a service; you gain a partner providing you with financial awareness and expert guidance, all year round. Experience improved cash flow, efficient invoicing, and enhanced customer relations with my comprehensive Accounts Receivable management.