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"Cherry Hill Advisory has helped me in more ways then I ever expected. In addition to providing me ongoing support, I find that they are readily available to answer any questions I have. They have fortune 500 experience packaged for small to mid-sized companies. This is something I have not found anywhere else. At an affordable price, their cost has far outweighed the benefit I have received"
As a business owner, maintaining your books and records is critical in order to maximize deductions and to remain audit ready. There are many strategies which can be employed surrounding asset purchases, training, auto, and other areas in order to help increase profitability.
Understanding direct costs, indirect costs and overall net profit can help enable better decision making.
Setting up a financial model and tracking the business against that model can assist in growth and ease the stress of day to day operations.
Setting up an EIN, corporate formation, and filing your annual reports is the foundation of good business governance. Deciding the type of corporate formation and registering to do business in multiple states can add to the complexity but also assist in the overall growth strategy.
Did you know there are specific criteria for whether to classify someone as an independent contractor or employee to ensure compliance? Are you filing your 940 or 941 with IRS correctly? Are you issuing W9s and 1099s? Do you have a technology solution that allows employees to view their pay statements online?
Did you know it is important to separate your business and personal accounts? There are also many other banking services that can assist in maximizing your business's potential. Example services include: electronic payments, credit card processing, check disbursement, revolving loans. Deciding what solutions work for you can be complex, but can also be an important aspect of growth.
As part of running a successful business it is important to ensure that you have the right technology to support you. This typically starts with a domain name, company email, and website. Don't forget to program your SPF, DKIM, and DMARC! Beyond that, having the right phone system, payment system, accounting system, and expense system is important.
Owning a business can be complex. Having the right people on your side can mean the difference between success and failure. With the right Accounting and Technology support in place you will have someone to call with questions and more importantly you will be able to relax and focus on your customers. Schedule a discovery call with us by clicking the link or scheduling an instant meeting below.