Category: CPA Services

Preparing Your Business for the Long Term

November 20, 2022  |  Barton Walter and Krier

Running a business is more than a 9-to-5 job. And with day-to-day elements to juggle in the present, it can be difficult to think about the future. But preparing your business for the long term is something to consider right now. Keep reading to learn what you should be doing and to uncover hints for succession planning. Succession Planning Rundown When it comes to business, no one can predict what will happen next week — or even tomorrow. That’s why it’s important to have a plan in place for if or when things change. Key players may retire, become ill and unable to work, or find new positions with other companies. With succession planning, you can prepare for the unexpected. The idea behind succession planning is to ensure your company has the right people in place, ready to fill certain roles should they become vacant. If a change occurs, you and your current staff can quickly adapt and keep operations running smoothly. The Benefits of Having a Plan Planning ahead for something that may or may not happen can seem like a hefty undertaking. But being proactive will help ensure the consistent pace of your business and help streamline any shifts in responsibility. When time is money, having a plan in place provides […]

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What CPAs Do in the Tax Off-Season

June 1, 2022  |  Barton Walter and Krier

The narrow, early year window for filing taxes is likely when you rely most on your tax professional. But these numbers virtuosos keep busy with a host of duties after filing deadlines, too. Ever wonder what CPAs do in the tax off-season? Keep reading to find out how they keep the gears turning and client financials in order throughout the year. Countless Capabilities Beyond Taxes Certified public accountants do more than crunch numbers on your Form 1040. They are dependable advisors that provide a litany of services to help clients reach their individual or business financial goals. CPA Steve Hagstrom of Barton, Walter & Krier shared insight into some of the lesser-known responsibilities tax professionals handle when they’re not calculating and filing a client tax returns. “We’re a 40-member firm,” Hagstrom pointed out. “We’re smaller, so we wear a lot of hats.” Mergers & Acquisitions. Hagstrom is a consultant in the M&A department at BWK, so providing those services to clients is one of his specialties. “I consult on mostly transactional situations,” he said, “people buying or selling a business.” In these situations, CPAs help clients better understand financial opportunities, compliance, and big picture goals when transferring or consolidating a business. “M&A is a niche we have that other small firms don’t,” Hagstrom […]

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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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