local businesses
“At East Coast, we have developed a monthly program that entails all the necessary elements to a successful outsourced accounting solution for your business. For one low monthly flat rate, we will handle reconciling all of your accounts, balance your books, and provide attractive, easy-to-read, and understand financial statements. We’ll also handle all the necessary tax filings, such as 1099s, Federal income tax returns, state and local tax returns, and much more. Your accounting fees are simplified, easily budgeted for, and you’ll save money and time”
Danny Howes, EA, RFC
CEO, East Coast Tax and Financial Planning
Bookkeeping
Bookkeeping is vital to any successful business. The problem is that no one likes or has the time to do it, especially the business owner themselves. Bookkeeping is time-consuming, confusing at times, and creates headaches. If a business owner wants to keep clean and up-to-date books, there are only a few options:
- Do it themselves
- Pay an accountant hourly
- Hire a staff bookkeeper
East Coast Tax and Financial Planning can address all these issues with our monthly bookkeeping program. Each and every month, we will reconcile your bank statements and create clean financial statements. Each and every month, you’ll receive up-to-date and accurate reports on cash flows, balance sheets, profit and loss, and analysis of your business’ progress. This not only makes it easier for you to make key decisions for investing in your business, but also budgeting, and forecasting. Having up-to-date, clean books makes obtaining financing easier and, in many cases, more attractive loan options.
Business Advisory
Starting a business is both exciting and intimidating. There are so many necessary steps in properly starting a business. At East Coast, we’ve helped several startups and can help your new venture as well. We offer assistance in creating a business plan, budget, and capital raising. Making sure your tax structure is set up properly from the beginning can eliminate many costly tax mistakes as you grow. Failure to get tax advice in the beginning, can be devastating later. You’ll also want to get advice from a tax professional on choosing the right bookkeeping system, payroll solutions, and banking system. East Coast can set all of this up and provide advice for your business start-up. Fee structures are simple and easy to manage.
Existing businesses need help now more than ever in an environment where margins are squeezed, the economy is still recovering, and increased regulation. These challenges make it difficult, now more than ever, to achieve continued success and growth. For our established businesses, we offer comprehensive consulting and guidance for all that your business is faced with. You often need advice and guidance from professionals in multiple categories, be it attorneys, accountants, business advisors, etc. Our diverse background makes us a great quarterback for your various advisors, coordinating all the input and advice for you to fully understand your options and execute your plans effectively.
Business Tax
One thing everyone has in common is pure hatred for taxes. At East Coast, we feel the same way. We make it our priority to do everything we can to be tax efficient. So often, businesses make poor tax decisions because the people running them are so preoccupied with making money. Accounting firms can be really good at recording the past. In fact, that’s what accountants are trained to do. They are primarily trained in the art of recording what’s already happened. At East Coast, we take a different approach. We take steps to be proactive to avoid as much tax as possible. Tax planning is key for any business making any amount of profit. We do not get to keep 100% of what we make. Businesses spend thousands a year on accounting services that do nothing more than merely calculate their bill. Our firm takes a different approach. We meet with our clients before the April shock and awe. In fact, we try and meet with our clients all throughout the year. We are always striving to maximize the tax code to benefit our clients. Instead of recording the past, we plan proactively for the future. This puts more money back into our client’s pockets.