The Value of Your Accountant
When people ask me what value an account brings to their company, I always think back to one of my first clients.
For privacy proposes, I will call him Kevin in this story.
Kevin was one of my good friends and, in his spare time, had started a business out of his home. The business grew faster than he expected. He chose to quit his job and hire employees to help it expand. At this point, he realized he needed a bookkeeper. Kevin called me. He knew I had been an accountant for a Huntsville management company.
We met over coffee one Saturday and discussed everything. Kevin knew he was making money, but had no idea how much. That very day, he hired me to dig through all records to uncover his total earnings to date.
After spending weeks going through sales reports, bank statements, and receipts, we found out he was making a monthly bottom line of $15,000. Kevin was in disbelief! He knew it was coming in fast, but had no idea he was making that kind of money.
We immediately converted his company to an S-Corporation and started paying Kevin a reasonable salary every week. By doing this, he only had to pay self-employment taxes for the time he actually worked, not his entire investment.
Kevin’s business continued to grow at incredibly fast speeds, and he ultimately earned a bottom-line of $280,000 that year. His decision to hire me when he did saved him $18,000 in taxes that year!
I can help your business grow. Contact me today! Let’s create a plan for success!