Business Solutions Made Easy
Are you a small business owner? An individual looking to make sense of your finances? Need help with tax preparation? It can be overwhelming to keep up with the constantly-changing rules, regulations, and shifts in the world of economics and finance.
At Cieslik & Glenn, Certified Public Accountants, Inc., we have the resources to make a plan that’s simple to understand so that you can look forward to a stable financial future. Call today or visit our Corona, CA, office for a consultation.
Our Services Include:
Every business is unique, which means you need customized financial advice. Our team will discuss your business plans and find a way to reach your immediate and long-term goals. We’ll help overcome the challenges of your unique industry, as well as the standard challenges of running a business.
We work with you, your lawyer, banker, insurance agent, and other advisors to solve your business problems. Some of the management issues we help with include loan applications, cash flow concerns, pricing, and cost controls. We’ll also review your current operations and make adjustments for more profitability.
Is your business prepared for the future? Here are a few ways to increase your profit:
Verify Community Support
Can your local community support your business? Does the local population produce enough demand for your services?
We’ll help review all proposals or purchase information to make sure your business will benefit.
Trust the Professionals
Bankers, insurance agents, lawyers, and accountants can all help you identify and solve your business problems. Make sure you have an experienced team of advisors behind you.
Before incorporating your business, be sure to check out the long-range and non-tax considerations.
Avoid Late Payroll Penalties
Some businesses get penalized for late payroll tax deposits. To avoid this issue, make sure the first check in your stack is the payroll deposit to your bank.
Listen to Your Customers
It costs an estimated 10x as much to acquire a new customer than it does to retain a current one. Make your customers happy, and they’ll refer new customers to you!
Don’t Make Yourself Indispensable
We’ll make sure your business can run, with or without you. An independent business is a healthy business. You should be able to retire with your own company and be absent as much as you like.
Tax Return Preparation
Unless your finances are very straightforward, you could likely benefit from working with a tax professional. No matter if you’re an investor, wage earner, business owner, or combination of the three, you should take advantage of tax-cutting benefits in our tax law. Here are some tax breaks you could be missing:
● Adoption expense credit
● American opportunity tax credit
● Annual gifts to reduce estate
● Best filing status
● Bunching deductions
● Childcare credit
● Child tax credit
● Donating appreciated assets instead of cash
● Earned income credit
● Education expenses
● Education savings accounts
● Flexible spending accounts
● Health savings account
● Lifetime learning credit
● Qualifying property for personal residence gain exclusion
● Roth IRA
● Roth 401(k) if employer’s plan permits
● Rollover to Roth IRA
● Shifting income or deductions from year to year
● Tax-deductible IRA
● Long-term capital gains
● Low-income housing credit
● Rental property
● Small business stock rollover
● Tax-free exchange
● Tax-free municipal bonds
● 401(k) plan
● Bad debt write-off
● Disabled access credit
● First-year expensing of business equipment
● Home office deduction
● Keogh plan
● Other business tax credits
● SIMPLE plan
● Tax-free exchange
● Year-end bonuses
If you need help organizing your tax information, use our free Tax Organizer! Schedule an appointment with one of our professionals, and we’ll help you better understand your financial situation. Please fill out this worksheet before your appointment:
We’ll supervise and prepare reviewed, compiled, or audited statements based on what you need. We will help you understand what each statement means and how to use them to increase your profitability and better manage your business. Every business should create financial reports monthly, so you can adjust to any potential issues and make comparisons quickly.
Why are thorough financial records important?
● Daily operating decisions are based on financial reports
● Banks require reports of past performance for loan applications
● When filing your tax returns, you need evidence for your numbers
Here are some common ratios you should monitor on a month-by-month and year-by-year basis:
Your current assets divided by your current liabilities. This measures your ability to pay your debts.
Debt to equity ratio
Your total liabilities divided by net worth. This gives you a year-to-year comparison of your ownership in your company.
Your receivables divided by average day’s sales. This gives you the number of day’s sales on the books.
Your gross profit divided by net sales allows you to compare your business operations to industry competitors. It also monitors how well your operations perform over time.
Frequently Asked Questions
When is the individual tax deadline?
The individual tax deadline is April 15th. Contact us to help you file your taxes or file an extension!
When is the extended individual tax deadline?
The individual tax deadline is October 15th. Contact us to help you file in
What kind of clients do you work with?
We have both individual and business clients.
What is your consultation fee?
Our consultation fee starts at $150 and is applied to the preparation of your tax return. Contact us to set up an appointment!
How long do I keep my records?
Most financial records should be kept for 7 years. Contact us for specific situations.
Do you prepare trust tax returns?
Yes, we have experience preparing trust tax returns. Contact us for an appointment!