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Financial Planning |
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The first step toward reaching your goals and dreams is to understand what they are. Our approach includes helping you understand where you are
financially, to help develop a personalized plan that addresses your objectives, and advising specific recommendations, solutions & timelines to
meet your financial goals. Whether you require an in-depth evaluation or simply a fresh look, we can help make financial planning simple so you can
feel confident in all your decisions.
A strong financial plan builds on understanding your current cash flow, emergency fund needs and net worth. We can help you in assessing your
current situation and develop a readiness plan for unexpected needs We also encourage reviewing your wills, trusts, power of attorney, health care
directives and beneficiaries to help you ensure your financial legacy is maintained.
We can customize your Financial Plan to include other needs:
- Retirement Accumulation Determine whether your savings will be enough to fund your
retirement
- Education Funding Discover options for funding your children's education.
- Future Purchases Identify ways to save for important goals
- Income Tax Strategies Identify tax-efficient ways to invest & manage your portfolio
- Estate Planning Estimate estate taxes and costs.
- Business Valuation Estimate the value of your business to help in estate planning
- Stock Option Analysis Strategies for exercising the options and an estimate of the
taxation.
To find out whether our services are right for you, contact a
PAC Associate today
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| Business Financials |
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Which Accounting Professional Do You Need?
Every company needs someone to keep track of the books. Whether you hire an employee or use a service contractor, you need a bookkeeper. You also
must have someone to help you review your financial reports and help your company make decisions based on finances and taxes. You are not required
to obtain the services of a CPA, but remember that an accountant, who is not a licensed practicing CPA, cannot sign your business tax return or
represent you before the IRS. At Poortinga Accountancy Corp., we provide all three of the following financial professionals to serve your
business needs.
Bookkeeping
A bookkeeper is an accounting professional who keeps the financial books. Most bookkeepers use accounting software like QuickBooks for this task.
They are responsible for accurately recording transactions, including accounts receivable, accounts payable, inventory, and if contracted, for
payroll. They provide reports on a monthly, quarterly, and annual basis.
Professional Staff
Accountants are a level up in terms of responsibility from bookkeepers. They can perform bookkeeping functions, but usually their focus is to
prepare detailed financial reports. They perform audits of the books and they may prepare reports for tax purposes. An accountant is
classified by the IRS as an unenrolled preparer, which means they have no standing with the IRS in the matter of signing tax returns or representing
clients at tax audits and other matters before the IRS. Only CPAs, tax attorneys, and enrolled agents are able to represent a taxpayer before the
IRS. You can certainly have an accountant prepare your business tax return, but understand that this individual cannot legally sign your return and
submit for you, nor can they assist you with an audit or go to an audit for you or to tax court.
Certified Public Accountants
A CPA has an additional level of credibility and expertise. A CPA is an accountant who has passed certain examinations and met all other statutory
and licensing requirements of a state to be certified by that state. In addition to preparing and reviewing financial statements, CPAs also prepare
tax returns for businesses and individuals, sign tax returns, and represent taxpayers before the IRS for audits and other matters. The American
Institute of Certified Public Accountants (AICPA) is the national professional association for CPAs.To find out which of
our services is right for you, contact a
PAC Associate today |
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