Frequently Asked Questions
What is Wealth Management?
A professional service which is the combination of financial/investment advice, accounting/tax services, and legal/estate planning for one fee.
How can your accounting services help me make money?
Our accounting services tells you if you are making money. We can create a profit and loss statement each month, you can ascertain your position quickly. If you are losing money, you can make changes in your operations, such as increasing prices or reducing expenses, to correct the situation long before the year’s end and ensure that your overall year will still be profitable. As well we understand the tax in and outs to ensure you are getting the best possible advantage and reduction in taxes.
Can I just write checks, make deposits, and file taxes?
If you don’t do any accounting, then that’s probably all you’re doing—making deposits, writing checks, and paying taxes, but not making any profit! Even in a very small business there is a need to be in control of expenses. This doesn’t just mean having the money, it means knowing what portion of your sales revenue gets spent for what purposes. What percentage of revenue do you spend on marketing, labour, supplies and other expenses each month? If you are not tracking and controlling these expenditures, you are not managing your business—you are just blindly hoping there might be a profit.
Can’t I hire a bookkeeper to do the accounting for me?
A good bookkeeper or even a good accounting software program can help you organize your accounting quickly. But you still need to understand the basic principles of accounting. This will allow you to use the information supplied by the bookkeeper or software program intelligently, enabling you to make the changes in your business that will keep it on track toward success and profitability. Even better you can use our services by outsourcing your accounting needs.
