03 Apr

9 Ways We Can Be Financially Independent

financially independent

Financial independence: No, it doesn’t mean retirement! Retirement is the end of your working life. Especially if you’re one of those who love what you do, retirement doesn’t need to be your goal. But financial independence should be! “Financial independence” means you’re able to take advantage of life’s opportunities without worrying about money. Of course, getting to that point can be intimidating. Where do you even start?

We are income tax professionals who recognize that for some people, tax savings alone are not enough. When you need assistance growing your top line, you can turn to us. We’ll help you achieve sustainable prosperity and financial independence.

Below are just a few ways we can work closely to help you realize your financial goals. Remember: Thinking “long-term” is a key characteristic in accumulating wealth.

  • Defining Ownership Goals
    We’ll help you analyze your current financial position, define goals, establish key performance indicators and define an achievable time line.
  • Business Diagnosis
    Together, we’ll determination your current strengths, weaknesses, opportunities and threats and establish priorities to resolve.
  • Business Performance
    Through carefully implemented strategies and measures, we’ll improve your profit and cash flow.
  • Certified Business Valuation
    We’ll help you know your current business value, understand your opportunities and implement improvements.
  • Business Value
    Let’s increase your business equity value by increasing net free cash flow, risk reduction and owner independence.
  • Industry Comparisons
    How does your company or financial status compare with others in your industry, including key ratios of strength and performance?
  • Transition of Owner’s Role
    Elevate your owner’s role from crisis manager to strategic planner in order to realize your true vision!
  • Business Independence
    We’ll help you craft operational and functional measures to gradually reduce dependence on owners for daily operations.
  • Owner’s Lifestyle
    Increase free time for more pleasure and enjoyment, exploration of new opportunities and reduction of stress.

If you’re ready to make the process of managing your company’s finances that much easier, we’re here for you. Fill out the form below to schedule a call now.


Our conversation is strictly confidential and complimentary.


10 Mar

Business Tax Preparation Checklist


 
Business owners: This tax season, we want to help you prevent expensive mistakes, capture tax-saving opportunities, and be protected against unexpected events. Even small or simple businesses have risks to avoid and opportunities to explore and capture.

In the spirit of helpfulness, we are pleased to offer this courtesy business tax preparation checklist for your use in preparing your business income tax returns. We’ve crafted this information request from our years of experience supporting entrepreneurs and businesses big and small. Most importantly, this information request also serves to document your information in case there’s a dispute later. We invite you to share it with your tax accountant, who should be able to help you navigate this checklist with ease.

Should you discover you’d be better served by upgrading your financial team, we’re here for you. Please be advised this is a limited courtesy copy. Our clients take advantage of a full version which includes additional tips, notices, warnings, options and innovations.

Please fill out the form below to receive this free checklist.
Your contact information will be held strictly confidential.


Our conversation is strictly confidential and complimentary.


28 Feb

Why Businesses Fail

Why Businesses Fail

 

The Problem

Most business owners do not understand how to use financial statements to manage their businesses “by the numbers.”

Instead, they use substitute indicators which betray them, such as amount of cash in the bank. This often has little to do with profitability and the resulting taxes.

Some business owners believe that the faster you grow the better. However, studies show that companies can grow themselves into bankruptcy because they run out of cash and working capital.

Financial tools can help avoid disaster and guide owners toward greater profitability, cash flow and independence from the drudgery of petty problem solving.

The Result

Over 93% of businesses fail because of mismanagement. Of those that failed, over half were profitable, but failed because of mismanagement of cash flow. Source: Dunn and Bradstreet


The Cause

The “bean counter” mentality… Most traditional CPAs insist on performing obsolete practices by preparing financial statements in a format which most business owners do not understand and cannot use to improve their financial condition.

The reason? “That’s the way we’ve always done it.”


The Solution

Provident Professional Services has developed a simple way to communicate financial information for non-accountants. We have a consistent history where business owners can use our reports to manage their businesses to help control costs, increase profits and improve cash flow.

If you’re ready to make the process of managing your company’s finances that much easier, we’re here for you. Fill out the form below to schedule a call now.


Our conversation is strictly confidential and complimentary.


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