Category: Accounting & Bookkeeping

Help Ensure Solid Financials

October 18, 2021  |  Barton Walter and Krier

When it comes to your financials, you want to make sure your bases are covered. And there’s a lot to consider. To make things easier, the premier accounting and tax specialists at Barton, Walter & Krier offer tips to help ensure solid financials. Financial Framework You got into business to do more than survive – you want to grow and be successful, right? Having a solid financial plan is key to all of this, and managing that plan is just as crucial. Taking charge of finances is at the base of everything you’re hoping to build, and we’re here to help with some of the basics for building a strong financial foundation. Have a Plan Your clear and detailed business plan will keep you focused on success. This plan should outline where you are now, where you want to be in the next couple of years, and how you intend to get there. What does the market look like? What kind of competition will you have? Who will you need to help you? Determine the capital you will need and how you’ll secure it – business loans, angel investors, bootstrapping, grants, etc. How do you plan to attract interest and potential investors? Consider short-and long-term business goals and objectives and note how you […]

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Explore a Day in the Life of a CPA

September 22, 2021  |  Barton Walter and Krier

You’ve no doubt heard the term bandied about over the years, but what exactly does a CPA do? To answer this and other related questions, we turned to Anna-Liisa Lampi, a Senior Manager at Barton Walter Krier. Lampi provides insight as we go beyond taxes and explore a day in the life of a CPA. All in a Day’s Work So, what does a Certified Public Accountant do? In a word, “Everything,” Lampi said. She then went on to reveal that a CPA’s job involves a lot of problem solving and multitasking. “You’re working with various clients or on different jobs, checking where you are or where the staff is that’s working with you, and following up with clients or staff to keep things moving,” she explained. In general, a CPA prepares and files a business’s taxes. But their work doesn’t stop there. CPAs also provide tax planning and advice, auditing services, financial management and consulting, and financial forensics. And while each day may feel somewhat routine, a day in the life of a CPA is anything but typical. “There’s different information and sometimes you’re juggling a lot of different things,” Lampi said. “You’re just keeping them moving and trying to keep clients and staff happy.” What’s the Difference? Is there a difference […]

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Succession Planning: Transferring Ownership of Your Business

August 31, 2021  |  Barton Walter and Krier

For many business owners, developing a solid succession plan can be overwhelming. There’s the question of who will take over the business upon your retirement, demise, or disability. It’s never too early to create a successful plan. With the help of experienced legal, financial, and tax professionals, you can secure a sound financial future for yourself and your loved ones. Read on as we discuss transferring ownership of your business through succession planning. First order of business: choose your successor This may seem like a no brainer however, choosing the right successor is arguably the most important step in the process. Selecting someone to take over the business isn’t easy. Sometimes the most logical choice is a family member or trusted existing employee. However, each has its drawbacks. You must consider that individual’s strengths and weaknesses, as well as the implications to the business and/or familial relationships. Your successor largely depends on how your business is structured; whether you have an existing partner(s); and what your ultimate business objectives are for the future.  Choose your successor wisely. It’s always a good idea to consult with a financial or tax expert to help walk you through your options. Five common types of succession plans There are five common types of succession plans, each with […]

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