How much do your business accounting services cost?
What is included in the price?
- Monthly or quarterly bookkeeping
- Annual business tax return preparation
- Annual personal tax return preparation
- Tax planning
- Tax projections
- Periodic Business Advisory Meetings
- Preparation and filing of 1099 forms for subcontractors
- Preparation and filing of County 571-L personal property tax forms
- Preparation and filing of sales tax returns
- Development and tracking of key performance indicators and metrics specific to your business
- Industry comparisons
- Financial statement preparation and discussion
- Financial Statement ratio analysis
- Preparation of compiled financial statements
- Preparation of reviewed financial statements
- Quickbooks or Xero support and training
- Succession planning
- Creation of financial dashboards to quickly access summary data to use in board meetings
- Development of systems of internal control to minimize fraud risk
- CPA attendance at board meetings
- Assistance in setting up and managing a payroll system
- Budget development and monitoring
- Guidance on entity selection
- Guidance on setting s-corporation owner salary
- Assistance in setting up and contributing to a retirement plan
- Financial Planning
- Setting up your accounting software to track multiple locations, products, or services
- Consulting around buying or selling real estate or businesses
- Designing and monitoring a debt reduction plan
- And like the beat, the list goes on, everlasting
Included in your package of services will also be unlimited access to us at no additional charge. Call, email, or stop by, any time you like without worrying about receiving a surprise bill from us. You will also receive our firm guarantees, which are listed in another FAQ below.
What will we discuss in the periodic advisory meetings?
- Advance planning for tax minimization techniques, identifying opportunities, and removing tax surprises
- Financial comparison of current period with appropriate prior periods
- Identification of, and recommendations for, improvement in areas where your business is underperforming, or where you can operate more efficiently.
- Education around various helpful items in your financial statements such as cash flow, revenue growth, profitability, collections, debt accumulation, liquidity, etc.
And then of course we cover topics that are of concern to you right then. Some examples include:
- Advance planning to maximize the sales price of your business
- The best way to save for your kids’ college expenses
- Buying or selling a piece of real-estate
- Comparison of your business to others in your industry
- Developing financial metrics specific to your business
How do I know it will be worth it?
Do you offer any guarantees?
- We guarantee that we’ll never miss a deadline on work that we do, or we’ll pay any associated penalties and interest.
- We guarantee to represent you through an audit of work we have completed at no extra charge if the audit is a result of an error or omission on the part of Innovative Solutions.
- We guarantee to make good on all the Promises We Make to Our Clients
- We guarantee to provide value in excess of the price you pay, If you ever feel the value you receive does not exceed the price, we will adjust your package of services and the associated price until it does. If you are still dissatisfied, we will refund your last month’s payment and cancel our agreement.
Do I have to sign a one year agreement?
That being said, you should consider, before signing up with us, that we are a relationship-based CPA firm. It is the relationship we build with our clients that allows us to provide more value to them the longer we work together. The more familiar we are with you, the more we can apply our knowledge and expertise to your specific situation. If you are going to sign up with us, it is really in your best interest to stay with us for the long term.
What is your hourly billing rate?
Is there an upfront onboarding charge?
What if I don’t like the packages of services you design for me?
Sometimes, however, after working together for a while, we realize we didn’t get it quite right. Other times, your situation has changed and you need a different mix of services. No worries. In these situations, we just take a step back, listen to your concerns and objectives again, and work collaboratively to restructure your package of services to meet your needs.
The value you receive must exceed the price you pay.
Do I have to come in to your office every quarter for my advisory meeting?
What is your process for bringing on new clients?
Step One – You complete our New Client Application. This gets you thinking more deeply about your goals and your reasons for wanting to switch accountants. It also gives us some basic info about you.
Step Two – If a review of your application indicates that we might be a good fit for each other, you meet with one of our partners, either in person, by phone, or via video conference. This is a chance for us to ask clarifying questions, learn more about you, your situation, and your objectives.
Step Three – We summarize what we have learned about your situation and objectives in writing via email. Before we develop a specific plan for you, we want to be sure we clearly understand what you are trying to achieve. You respond to the email to confirm its accuracy or to suggest changes.
Step Four – Our client selection committee meets. We discuss your interest in working with us and whether we feel like we would be a good fit for each other. If so, we design a plan of services for you. Our implementation plans generally include three packages of services for you to choose from. Each is designed to help you meet your objectives.
Step Five – We meet again either in person, by phone, or via video conference to present our implementation plan to you. Often, at this stage, you are ready to choose the package of services that best fits the speed at which you want to achieve your objectives. Sometimes, there are still adjustments to be made to the mix of services. This is not a problem. We simply make adjustments to the plan. Our objective is to design the perfect plan for you, right from the start, and there is often some back-and-forth before this is accomplished.
Step Six – Once you choose the plan you want, we formalize it with our upfront pricing agreement, and our on-boarding process begins. We generally work with you intensively for the first month or even a few months, depending on your needs. During this time, we assist you in transferring everything over from your prior accountant, set up new systems, gather important documents from you, and so on.
Step Seven – Once the on-boarding process is over, we assign you a main point of contact and get into a routine with you. To make sure you get the best of the variety of areas expertise and experience in our firm, you may receive guidance from different team members at different times. You are also welcome to contact a partner at any time if you have a question or concern, and you will never receive a surprise bill from us.