Business formation, or entrepreneurship, is the engine that drives the American economy. We love how we help entrepreneurs turn their ideas into reality, as their small businesses grow into larger and larger firms. Entrepreneurs are at the vanguard of changes in the American economy, including virtual companies, embracing outsourcing, and developing global supply chains in the service world.
During the COVID-19 Pandemic, many people embraced virtual work environments or remote employment for the first time. While the COVID-19 Recession was brief, it was sharp and painful, and caused many people to lose their jobs. Necessity is the mother of invention, and many entrepreneurs start their first business after losing their corporate job.
Starting a business is not for the faint of heart, but entrepreneurship may bring many advantages, financial, emotional, and spiritual. Many entrepreneurs find that control of their schedule, ability to financially support their community, and ability to build their work and personal lives in sync to be as important or more important than the personal financial impact.
We work with business owners to manage their financial matters. Most small businesses are organized as LLCs or S-Corporations, which means that their income “flows” to the owners tax return, called a pass-through entity, Engaging in meaningful tax planning is often critical to your financial success, and requires a holistic understanding of you personal and business finances.
As a boutique CPA firm, we are highly attuned to the financial needs of the entrepreneur, and the risk-reward nature of entrepreneurship in America.