proactive accounting meeting with CPA and couple
proactive accounting meeting with CPA and couple

The power of proactive accounting

There’s a reason your car’s windshield is so much bigger than its rearview mirror. Sure, both can save you from having an accident, but there’s no doubt which piece of glass plays a bigger role in your safety. In the same way, you can panic when the tax deadline arrives, rush to take out a loan when you need to make a big purchase, scramble to meet payroll… or have a forward-looking plan that puts you on the road to financial (and business) success. The truth is that, in the fast-paced world of finance, being reactive can often mean getting left behind while you try to play catch-up. That’s why today’s businesses need accountants and financial advisors who can look beyond hindsight to provide proactive accounting and financial insights.

There’s a lot more to finance than taxes 

While many businesses primarily seek out CPAs during tax season, we have a lot to offer throughout the rest of the year! The services of a CPA firm extend far beyond tax preparation. From estate planning to debt management, financial projections to risk assessment, a CPA firm becomes an invaluable resource for comprehensive financial management throughout the year and throughout your business’s lifetime. 

CPA firms provide financial and tax services such as:

The shift from financial reporting to advisory services

CPAs are no longer mere number crunchers; we are strategic advisors to our clients.  

According to the American Institute of CPAs, Client Advisory Services (CAS) are the fastest-growing services in the accounting profession. While reviewing historical (rearview mirror) data remains crucial, businesses now recognize the need for proactive insights that guide decision-making in real-time (the windshield), empowering them to anticipate challenges, seize opportunities, and stay agile. 

The benefits of working with a CPA firm throughout the year 

Maintaining a continuous dialogue with your CPA throughout the year is crucial for proactive accounting planning:

  • Tap into the collective knowledge and experience of an entire team of strategic financial planners
  • Prepare for and adapt to legislative changes
  • Get advice on how to stay ahead of the market and economic trends
  • Improve your management of income and expenses throughout the year
  • Plan effectively to make large purchases, business expansions, etc., when the time is right
  • Use a tax projection to estimate future taxes owed and make a plan that provides for tax-saving opportunities 
  • Ensure you’re taking advantage of all the tax deductions and credits available
  • Avoid unexpected tax bills
  • Gain comprehensive insights and data to inform the decisions you need to make for your business to survive and thrive

In short, building a relationship with a trusted CPA can help you approach your financial management proactively, saving you time, money, and the headache of managing your finances alone. 

Proactive accounting is now a business necessity 

Don’t wait for tax time! Partnering with a CPA firm that offers yearly consulting is the key to steering your business finances towards success. By leveraging their expertise and adopting a forward-thinking approach, you’ll be poised to make strategic decisions and seize opportunities as they arise. 

We strive to add value to client interactions beyond the annual exchanges required to complete your taxes. We offer ongoing financial advisory, personalized tax and financial planning services, business accounting support, and much more. Contact us to schedule a consultation and take the first step towards proactive financial planning.

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