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Trusted Public Accountant for Small Business

It is already November and near the end of the year, it is time to preparing for business financial report and also that tax audit preparation. It is going to be very busy weeks ahead for a small business organization with limited resources. Most companies have their own accounting department to handle this kind of work and not to mention they also have independent audit firm. As an owner of a small business, you practically cover many different things and it can be really stressful to handle financial review and tax report preparation.

Good financial review is very important to your business sustainability. It can show whether your business has been performing well or not and whether there’s substantial financial problem to deal with. Tax report is even more complicated and you are legally required to report the tax correctly otherwise there will be very serious consequences. Working this kind of work can be really overwhelming without the right expertise and supportive resource. It is much wiser that to hire a professional accountant to handle the financial report and tax preparation. It would deliver better result. Well, it is understandable that you are concerning about the budget. As small business, every penny matters and you need to make sure that the budget to hire an accountant won’t be a huge burden. Being budget concerned doesn’t mean you can compromise with financial accountability. Be a smarter business owner and find the right partner you can trust and rely on, someone like Richard Steiman. He is a leading certified public accountant Surprise AZ, a partner of Bisceglia, Steiman & Fudeman, LLP. This firm has top reputation in public accountant and financial consulting services in greater Phoenix area. It has long list of clients, both individuals and business entities, and among them are high profiled names.

A certified public accountant with years of professional practice, Richard Steiman is highly trained and highly experienced in all fields of accountancy and finance. With his partner from the firm, one of the passions is helping small business to become a sustainable business through complete series of accounting and financial services. This kind of services are designed for small and medium enterprises with limited resources and lack of competencies to deal with sophisticated financial reviews, financial report, and tax preparation. Richard Steiman is able to handle the financial review of your business making sure everything is well recorded and well reported. This accountant is also ready to provide consulting services for your small enterprise to manage it finances better. It is ranging from designing the bookkeeping and accounting systems, payroll services, business planning, financial analysis including projection analysis, and assistance for business loan application.

When it comes to tax preparation, Steiman is the one to trust. He has expertise in this field and has experience in different types of tax form. He will make sure that your business tax report is precise and comprehensive and more importantly, compliant with IRS rules and regulations. He is also the expert to determine possible tax credit and deductible to help you get saving from tax payment. More than just preparing tax report correctly, he will provide assistance and representation when your business is audited by IRS. He is the one to help you get peace of mind knowing you won’t get any problem with the IRS.

Don’t let accounting becomes an issue preventing your business to grow. There’s no need to hesitate hiring this accountant. You can call the firm and schedule a meeting with the accountant. He will be more than happy to hear about your business, your plan, and also your goal. He will provide the right service to meet your expectation and goal. More importantly, you will have a trusted partner to help with your business finance. You will love to know that the budget to hire this accountant won’t be a big burden to your small business. It is going to be very competitive and reasonable. Having Richard Steiman helping you with the accounting, you can focus on what you know best, creating new innovation for your business to grow.

Information on Raising Funds for Small Businesses

Obtaining the necessary funds to kick-start your small business start-up can be quite a challenging task. But before you get dejected, lets first take a look at what the numbers have to say. The average small business start-up cost to become an affiliate marketer for instance, is somewhere around $250, which is a small investment when comparing it with a $30,000 cash deposit, that is required to start a franchise.

But when you take into consideration all the other additional monthly expenses like rent, advertising, payroll and inventory, then you know that starting a small business is no ‘small’ deal. So, coming up with the necessary cash to fund your business can be very difficult when you have a car loan to pay, a mortgage to take care of, and a family to support.

Going the traditional way and opting for a loan from your bank won’t really get you very far, especially when you consider the fact that they don’t like lending out money to start-up businesses that have no assets or history. But, again do not let this dampen your spirit. It is time to take a look at all your personal assets. You never know, you might actually already have the required ‘wealth’ to get your small business started.

Sources for Funds

Here are some sources:

– Life Insurance Policy
– 401(k) Plan
– Friends and Family
– Credit cards

These are all potential sources that can be tapped into. In doing so, you will raise money out of your own resources. It will give you full control over your money. And this control is the very thing you wanted in the first place right? That’s why you chose to become an entrepreneur!

If you do have a life insurance policy, then you can put it to work. Though it sounds weird, think about it – a life insurance policy will provide money to your family and spouse in the vent of your death. What most people don’t know is that you can actually borrow against the cash value of the life insurance policy, and then pay it back at flexible rates, on your own terms.

Next, you have the 401(k) Plan from your previous employer – all those monthly statements that you filed away so diligently but never cared to even look at. Though the whole concept of borrowing money from friends and family to start your business may sound like a simple one because you already have an inbuilt level of comfort and trust with them, but you need to understand that there are many risks involved as well. If things go smoothly, then you’ll probably be the Donald Trump or the entrepreneurial king of your family or your friend circle. But, if your business goes down the drain, then it will put stress on the relations you had with those closest to you. So, is this risk worth taking?

Now, take a long hard look at your credit card. The one that you used to buy that dinner, your computer, and those new shoes – yes this credit card can help you get your business off the ground. If none of these resources work for you, then you can always take the traditional route and opt for bank loans.

Business Loans Available

– Long-term loans are probably the most common types of loans available. These loans can be used as a working capital funding source and you can repay them on a monthly basis over a term agreed with your bank or financial institution.
– Short-term loans on the other hand are supposed to be repaid within a year in a lump sum, instead of monthly.
– Credit lines are usually used for working capital funding. Instead of granting you the entire loan amount, the financial institution will give you a certain amount each year.

Some Other Sources

When looking around for small business funding resources, your bank should be your first stop, especially if you have a history of working together before. Familiarity does go a long way in clearing any insecurities and doubts. There are many other types of lenders as well, the only differentiating factor between each of them would be the kind of loan they grant – secured or unsecured. Banks grant unsecured loans, while financial institutions are in favor of secured ones.