Best Tax Solutions LLC provides specialized ongoing financial and management support to businesses (revenues of less than $20M/year) and entrepreneurial start-ups in the form of monthly financial and operating reviews designed to provide the level of help these clients need at an affordable and fixed price per month.
Today's economic conditions are constantly changing as businesses try to grow while managing risks and complying with laws, regulations, and internal policies.
Our greatest asset is the thought leadership of our seasoned professionals. We have directed and consulted with a wide variety of companies, ranging from Fortune 500 public companies to startup private companies.
We provide cost-effective, value-added solutions to improve the financial position and operations of your business. Our advisory services provide solutions-based services in the following areas.
Business Improvement Services
Our Business Improvement Services focus on planning, improving, and executing business strategies and processes with an objective view that aligns activities with the needs of your clients and stakeholders. Business Improvement is composed of two offerings:
Business Process Improvement: We focus on making business processes efficient and lean. As Six Sigma analysts, we assist with process improvement. A typical project can lead to a 50% improvement in time savings or capacity availability.
Business Intelligence: We organize your data and create monitoring mechanisms that help you effectively manage your business. When used in combination with Business Process Improvement, you will see concrete results that can be sustained.
Business Reorganization & Financial Restructuring Services
We have extensive experience dealing with bankruptcy cases. We help troubled companies survive and continue to operate, negotiating with creditors and providing owners with a return on their investment.
In the event a company cannot withstand business difficulties, we help owners and creditors maximize liquidation proceeds, recovering as much as possible.
Through our reorganization services, we provide critical assistance with both in-court and out-of-court matters to companies that are in crisis, underperforming, or healthy companies with underperforming sectors. We have helped numerous clients stabilize their operational and financial performance.
Starting your own business?
Opening your own business is exciting and thrilling but moreover "fun and profitable". We want to help you to maintain and stretch out the "fun and profitable" period forever.
These services include the following:
Start-up session of 2 hours of work to review the client's financial reporting systems, chart of accounts, classes of businesses, and other issues that impact the usefulness of the financial reports. The start-up phase of the program costs $497 and will get the client's financial and operational reporting systems to best practice standards.
A detailed action plan is needed to fulfill your goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new ventures.
We can help you:
- Prepare an initial business plan to clarify your marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources and evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
- Select the right accounting software by evaluating your budget, needs, and hardware.
- Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Set up a home office so you can maximize your tax deductions.
- Prepare and file all required state and local licenses and permits.
- Prepare and file your application for your Federal Employer Identification Number.
- Provide payroll and payroll tax filing when you bring on your first employee.
- Comply with employment laws so you don't get hit with fines and unhappy employees.
- Identify your business insurance needs.
- Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.