Newtown / Langhorne, PA, Accounting, Bookkeeping and Tax Services

Success Stories

 

It is remarkable how beneficial professional services can be for a business.  For many businesses, once they get behind, it becomes nearly impossible to get ahead again.  Thus, it is best to commit early on to continuous management and leadership while leveraging all the professional resources available to a business owner.


A&M REMODELING, INC.
A Professional Residential Remodeling Company
A&M CUSTOM HOMES, INC.
Land Development and New Home Construction

Tim began a small residential remodeling company after becoming discontent with the low quality of workmanship his employers required in order to satisfy budget and profit constraints.  Tim grew his business substantially within his first three years of providing remodeling services and then made a major strategic move to begin land development and new home construction.

While working with Tim from the time he began operations, we learned that Tim was extraordinary with attention to detail from the estimating process to the final coat of paint on the walls.  Our goal was to compliment his attention to detail on the job with quality professional services to accelerate the growth curve without letting his business run him. 

Services and Advice Provided to Navigate Success:
Below is a list of some of the services provided to the A&M companies and many other businesses:
 

  • Entity Selection - including timing of when to move from a sole proprietor to an "S" Corp
  • Analysis of employees vs. independent contractors
  • Forecasting and budgeting
  • Auto lease vs. purchase analysis
  • Choice of actual auto costs or business miles
  • Owner compensation consulting
  • Workman's compensation consultation and rate reductions through proper classification advice
  • Hiring of a business manager and sales person
  • Timing of capital asset acquisitions and dispositions
  • Personal capital contributions vs. personal loans to the company
  • Bank loans to company vs. personal bank loans with subsequent personal capital infusion to business
  • Accounting for raw materials, work/construction-in-process and finished goods inventory
  • Cash and accrual basis reporting for creditors and the IRS
  • Preparation of personal financial statements for business loans
  • Improving timing and overall accounts receivable collections
  • Retirement planning consultations
  • Basic savings planning
  • Advice on billing challenges and retainage for medium-term construction contracts
  • Insurance issue identification
  • Rental real estate gains analysis
 


ROB'S BARBER SHOP
A Local Barber Shop

We helped Rob when he opened his local barber shop which he grew to support his family in less than one year.  Rob needed help with many of the very basic accounting and tax issues.  We advised Rob on selection of a business structure, calculation of proper income tax estimates while considering withholding from his wife's job, and how to keep records so a proper accounting could be achieved for correct income tax reporting.  In addition, Rob had a passion for woodworking and we helped him identify the pros and cons of making his hobby a profession.