Bookkeeping
Bookkeeping is kind of like the foundation of your house.
If it’s done right you’ll know it. If it’s done wrong it’ll be very expensive to fix it, and you’ll wish you hired a better contractor when you built it.
Keeping your finances professionally organized.
Bookkeeping can help with securing loans with better rates!
Have you tried to apply for a business loan without a solid set of financial statements?
You might find a bank that’ll approve your loan, but are you getting the best possible rate on it? Generally speaking, lenders base a high percentage of their decision making process on how “risky” they think your business is from a repayment standpoint. We know what you may be thinking… isn’t that why we have credit scores? Yes, but does your credit score really tell a lender why you need this money in order to expand a highly profitable division of your company? We will answer that one for you. No! That’s where a solid set of financial statements come into play. By having this kind of information at your fingertips, you’ll be better prepared to negotiate for the best possible rate, and you’ll have a higher chance of hearing yes on that money you need for your growing business.
Insight to Business Performance
As an added bonus, you’ll also have a better line of sight into how your business is performing. That means you’ll have the opportunity to reduce spending in areas that aren’t furthering your goals while simultaneously redirecting those hard earned dollars towards areas that are! If you’re still not sold, just know that a tax return starts with your financial statements, so the better organized they are the better your trusted tax advisor can help you make smart decisions with your money!
Bookkeeping can give a greater insight to how your business is performing.
Income Tax Preparation
After some non-scientific research in our spare time...
…we’ve concluded that most of you cannot stand the idea of preparing your own tax return. If you’re a business owner, that percentage just went even higher! That’s okay with us because if you liked doing your taxes we’d probably have to look for another profession.
Taxes can be tough!
Tax Returns that meet your individual needs.
A tax return is more than a bunch of legal code and a slew of numbers.
Each return a history lesson, and everyone has their own story waiting to be told! One year you may welcome a child into the world and the next year you may have started your own business. Each year brings its own complexities, but they also bring unique money saving opportunities, and that’s where Palmetto Tax Advisor comes into play. Whether you file as a single individual, you own an LLC, you belong to a general partnership or you recently took advantage of our 21% corporate tax rate for C-Corporations, Palmetto Tax Advisor can help serve as your biographer of sorts while simultaneously helping you uncover financial options you probably didn’t know you had based upon current tax laws.
Whether that means building a retirement plan, savings for your children’s future college funds or purchasing a piece of property for that much needed expansion of your current business, we can talk about how you can get there while saving on your taxes along the way.
Save on your taxes for future goals.
Payroll Administration
Ah payday! Who doesn’t love getting paid?
For many of us, this is the highlight of our week and for good reason. For some though this aspect of running a business can be less of a highlight and more of a nightmare because there’s always something that has to be filed.
It can be confusing to know the difference between a Form 940 and a Form 941? Do you know what FICA stands for and when certain components of it no longer apply? What about SUTA and state withholding? It is clear that payroll is a complex process, and hiring someone to manage this process is money well spent!
Relief for your Payroll Headaches!
Avoid Late Filing Fees & Interest!
By hiring Palmetto Tax Advisor to manage the payroll process for you,
you not only have someone who provides direct deposit capabilities, but you have someone who is current on payroll filing rules, and who makes sure your payroll reports get filed ON TIME!
Trying sending one of those pesky payroll reports late one time and see what happens. Avoid getting hit with late filing fees and interest. It pays to hire Palmetto Tax Advisor of Hilton Head to help you handle this part of your business.