Budget

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Budgeting is how businesses and families plan their financial lives. We help develop pro forma budgets for investors (showing the go-forward estimates), income and expense estimated business budgets based on historical numbers, and zero based budgets for clients managing cash flow problems. While not as sexy as identifying pure tax savings, a budget is critical in personal finance and business finance to helping manage the cash flow to cover expenses.

With owner-operated companies, we often help implement the Profit First business methodology, which is actually a backdoor way to budgeting based on time tested principles of personal finance. This methodology helps break income into discrete buckets, essentially an “envelope” method for small businesses.

With small businesses that have developed a managerial structure with other decision makers, businesses that have managers making certain decisions that have a financial impact, having department budgets and evaluating their performance against those metrics is important to successfully running your business.

In addition to your business income, our tax planning strategies look holistically at your family finances to identify tax strategies that maximize your wealth building. This may be identifying how to shift expenses into a deductible status, or helping you identify cost savings to plow into investment vehicles.

A profitable business is one where revenue exceeds expenses. A wealth building household is one where income exceeds expenses. A realistic budget that comports with reality and helps you make good decisions can be critical to your wealth building by helping make your business profitable and your household cash flow positive.

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