Small Business Owners...What do you want from your Accountant, Finance or Tax Professional?

Serious, committed and driven Small Business Owners care about a lot of things. In the face of uncertainty and rising costs, they cannot achieve many of their personal & professional goals and their organization’s mission without two things:

  1. Earning more and,
  2. Keeping more of what they earn.

If you’re a Small Business Owner, keep this in mind:

  • Average/Good Accountants and Tax Professional help keep Owner’s compliant with Accounting standards and Tax Law. The focus of Accountants’ training is compliance. So, compliance does not help distinguish good Accountant’s from great ones.
  • Great Accountants and Tax Professionals help Owner’s achieve, 1 and 2, above.

We’re a small, full service Firm with the background and experience that can help you – the Business Owner with your Accounting, Bookkeeping, Business-Advisory or Tax-related needs.

Email or call Mike at Ph. (734) 778-8429

Business Owners - Are you Struggling to Earn a Profit?

If you own a business and you’re struggling to earn a profit, I highly recommend you read this book – “Profitable Expectations,” by Doug Hicks. Even if your business is not struggling, read this book. It’s that good.

This is NOT an academic text with abstract, theoretical concepts. It’s written as a narrative with clear, practical examples of how a small manufacturer was able to change the way it viewed it’s operation that allowed it to better understand all the activities that drove costs.

A few questions:

  • How do you currently price a new product or potential job to ensure it covers not only your direct costs but all the activities required to deliver that product/job?
  • Do you understand your operation well enough to include all significant activities that trigger costs that you may not have thought about including in your overhead?
  • How do you know if your bids to potential customers reflect an accurate representation of your operation? If your bids do not, you may underbid (cutting into your profitability) or overbid and risk losing the contract.

I’m not a paid shill and have no affiliation with Doug, his publisher and receive no benefit from this post, monetarily or in any other way.

Doug has been doing this for almost four decades, and I believe in giving credit where credit is due. The principles and insight in this book (and Doug’s other publications) have helped me become a better resource by providing practical solutions to my Clients.

By the way, blunt force cost cutting does not work. You cannot fix something until you know what’s busted. So, 25% across the board cuts only create organizational chaos and failure.

This is not a quick fix with a solution condensed in a sound bite. The good news, is that with real insight and a more accurate understanding of your business, you’ll make much better decisions.

In addition, if you’re looking for more in-depth material related to cost and profitability for more complex organizations, I encourage you to link to this site – Profitability Analytics Center of Excellence.

Do you have Complex Accounting, Business or Tax-Related Issues?

As a Business Owner, you have options:

  • You can employ an Accountant – expensive;
  • You can outsource your record-keeping tasks to a Bookkeeper;
  • OR, you can hire a full-service Accountant, Business and Tax Professional

A couple of quick points. Bookkeeping is NOT Accounting. Bookkeeper’s that are fluent and knowledgeable with the workflow and processes of your favorite online accounting platform can not guarantee that your records or financial statements will reflect accepted Accounting principles. You can’t be an “amazing Bookkeeper” without the knowledge and forethought of Accounting Principles and ultimately, Tax Law. It’s like a Brain Surgeon trying to convince a patient that he’s a world-class surgeon with an average understanding of anatomy! And, it does you, the Business Owner a real dis-service if your financial statements or records are riddled with errors or problems, especially, just before tax filing.

It’s also been my experience that Business Owners want a primary point of contact for all their Accounting, record-keeping and Tax-related service needs. Independent, outsourced Accountant’s and Tax Professionals need the type of breadth and understanding of many issues they are likely to encounter in order to be effective and relevant to their Clients.

Bookkeeping and Tax Preparation are basic service offerings. Complicated and difficult engagements involving Tax Planning, Representation before the IRS, Profitability Analysis, Business Valuations, and Cost Segregation are areas of my focus.

Email or call Mike at Ph. (734) 778-8429 for your complex/difficult Accounting, Business or Tax-related issues.

Accounting can be divided into two distinct areas: Financial Accounting involving Compliance and Managerial Accounting-data that Owners/Operators/Managers and Partners need to make informed, relevant decisions. We can help with both.
Accounting Services
Advisory Services
We're able to provide expertise in several areas of your business in addition to Accounting, Bookkeeping and Tax-related services. We can claim this, because we’ve lived it. Give us an opportunity to gain your trust. We want to become your full-service Advisor.
Advisory Services
Bookkeeping is the process of inputting, classifying, error correction and maintaining accounting records. Understated or overstated accounts? QuickBooks workflow issues? Problems, large or small, simple or complex, let us help.
Tax Services
Whether it's Tax Planning, Tax Preparation, or Tax Resolution, small businesses need help navigating the complexities of the Tax code. Contact us so we can discuss your Tax-related issues or needs.
Tax Services

Vision without execution is hallucination. – Thomas Edison

Request a Consultation:

Mike Faremouth, Owner/Principal
Woodhaven, MI. USA
Ph. (734) 778-8429