A midyear checkup with GMP CPA

by | Jul 11, 2018 | Blog | 0 comments

July marks the midpoint of the calendar year and most often brings the hottest days of the year (especially in Charlotte!). GMP CPA looks forward to July, not only for vacations, but because in most cases we now have six months of data to look over for our clients. Just like you are supposed to see the dentist every six months (except that you won’t dread our meetings and there is NO DRILLING, EVER), GMP CPA offers a mid-year review of your business’s results so that we can mitigate any cavities surprise tax bills that might be forming. When it comes to taxes, there is never a such a thing as a good surprise. Even when the tax bill is lower than expected, it usually means that the profit was lower than expected. We will also review your business’s expenses, major suppliers/vendors, and cash flow to analyze what to improve.

Our client’s appreciate the ability to see different scenarios as to how their business’ profit could end up and get an expectation for what the taxes would be for each scenario. We might recommend “brushing and flossing more” purchasing equipment, prepaying some next year expenses, adjusting payroll, or increasing a retirement plan contribution based on the likelihood of each scenario becoming a reality. We also might recommend delaying major purchases and cutting payroll or expenses if the need for cash flow is more important than tax liabilities. The mid-year check up provides the opportunity for a conversation, one where the business owner’s goals and objectives are the priority and GMP CPA spends most of the time listening.

Our mid-year review is also a great time to review what kinds of technology are working for/against you. After six months, if you are still working around something rather than through it, then it’s probably a good time for change. Does your point-of-sale system work for you, is it setup correctly, does it even provide the information about your sales that is useful? How is your payroll provider? Is their support lackluster, are they expensive, are they ADP/Paychex/TriNet? Are you getting crushed by high bank fees, credit card processing fees, or do you even know what you pay for those services? How about invoicing and collections? Did you know there is a better way forward than Excel, MS Word, or QuickBooks Online? If you are not familiar with Xero, Gusto, Square, Bill.com, or Stripe.com, then now is the perfect time to have a conversation with GMP CPA about what they are and what they do. We can save you time and money by providing objective advice about what the latest business technology can for your business by shortening the learning curve and cutting down on your admin time. Let’s get an appointment with GMP CPA for a mid-year check up on the books as soon as possible.

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A midyear checkup with GMP CPA

July marks the midpoint of the calendar year and most often brings the hottest days of the year (especially in Charlotte!). GMP CPA looks forward to July, not only for vacations, but because in most cases we now have six months of data to look over for our clients....
Tina Simmons
Tina Simmons
13:38 17 May 19
This team is dedicated to their clients and committed to understanding your business and sharing their knowledge to help you succeed. I love working with these folks, they take the worry and uncertainty out of accounting and taxes!read more
Bravo4 Autowerks
Bravo4 Autowerks
12:55 08 May 19
Gary and his team have been fantastic for me and my business. They respond well to all my questions, are very helpful and of course keep my financials in order. Highly recommended.read more
Queen City Newborn Care
Queen City Newborn Care
15:57 02 Apr 19
I was drowning before I met Justin. He totally transformed how I run my small business and has gotten me organized in ways I didn't even know were possible. I am so grateful for his advice and suggestions! This company is worth every penny.read more
Dennis Bloomberg
Dennis Bloomberg
16:01 26 Mar 19
Unfortunately, I found GMP when my mother passed. She had a trust set up and I had no experience with one. I received excellent advice prior to filing taxes, that allow for the transfer of assets with little tax implication. The tax process was simple for me, Justin took over once he had details and cleared up all question from filing our taxes. Thank you for a job well done!read more
Natalie Knight
Natalie Knight
15:35 21 Nov 18
Prusiensky CPA is up to date on technology. They handcraft a platform that works best for your company's accounting services. We really appreciate how hands on and quick their team is when replaying to any type of correspondence. Simply put, they care and want your company to succeed.read more
Ashlyn Lelej
Ashlyn Lelej
14:39 21 Nov 18
I highly recommend Justin at Prusiensky, CPA for all of your accounting and tax needs. I've been a client for over two years, and have been consistently impressed with their dedication to helping my business grow and be financially successful. His advice is invaluable. Thank you!read more
Bobby Nguyen
Bobby Nguyen
22:23 20 Nov 18
My partner and I started our very first small business last year. Justin has been a blessing to us. Being new at all of this, we didn’t understand much of how business taxes work. Justin explained and answer all of questions that we have. He took care of everything for us throughout the year and have made life so much easier for us. I couldn’t have asked for a better CPA. Highly recommended!read more
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