Your Tax Return is Done, Now What?
Jul 15 9:18 AM

Your Tax Return is Done, Now What?

Jul 15 9:18 AM
Jul 15 9:18 AM

You’ve just finished filing your taxes, and now you’re wondering what the next step is financially. Oftentimes, accountants spend a lot of time working on your tax return which leaves them very little time to help you plan and prepare for what’s coming next. This leaves you with a lot of questions. So, what is next? Here are a few things to think about once you’ve finished your tax returns.  

Are You Planning to Sell Your Business? 

This is a very important question because selling your business requires planning. There are a handful of things you need to do in preparation for selling your business, but a CPA can help you with a few of those tasks. That’s why it’s crucial you communicate this idea with your CPA so they can begin to think about what they need to do to help you in the process.  

The first thing to be accomplished would be getting your business valuation. You need to know how much your business is worth to sell it, so an accountant will help you figure that out. They can also assist you in organizing and structuring your deal. There are different ways a deal can be structured, so having a CPA help you will make you feel more confident in what you’ve come up with.  

Selling your business also comes with a new set of tax implications. Filing your business taxes might have been hard, but this is a different set of rules. Having a qualified CPA help you with this is crucial to the successful sale of your business. You’ll spend a lot of time looking through your potential buyer’s company and portfolio as well because you want to make sure they’re a valuable person or company to sell to. An accountant will help you look through this and evaluate the risk of this potential buyer.  

Additionally, no matter what you’re doing after you sell your business, you’ll want help planning for that. A CPA firm can assist you in drawing out your plan and preparing for it financially. Having a CPA at your side when planning to sell your business is extremely valuable and should not be dismissed. 

Planning Now Instead of Later 

As we mentioned before, CPAs tend to wait until the last minute to help you plan. BaCo works differently. With our patented technology, we’re able to spend less time on your tax returns and more time planning and preparing with you, but not at the expense of quality. Your tax returns are filed efficiently and accurately, so both of us can rest knowing that’s done and look ahead.  

Most CPA’s wait, but we want to talk to you now about planning and preparing. We have the time, and we want to prioritize your business. That’s why we offer a wide variety of services from concierge accounting to tax planning and preparation. We do it all with time to spare so that you don’t have to worry about what to do next. We’re right there with you all year. You can take advantage of the many services we offer because we’re not tied down with your returns for 3 months. We want to help you and your business be successful which is why we do more than just your tax returns.  

Opportunities to Help You in Other Ways 

Our services don’t stop at concierge accounting and planning. BaCo Group can do more to help your business be successful. We are problem solvers. When your company runs into a problem, our systems help us come up with a solution. We work hard to make sure your problems are fixed so your business can operate smoothly. And if you have common problems, we create a common solution so fixing it is quicker than ever.  

We also have reporting services. We do current income tax reporting, financial reporting, and automatic consolidated or combined reporting. Many clients that we work with have multiple companies or entities and keeping up with the accounting for each can be difficult. That’s why we created our technology with the ability to automate the consolidation which allows to take a holistic approach for you and each of your business, regardless of the accounting packages they run on. These services give you the ability to expand your network which is why we’re excited for you to dive in and discover what we have to offer.  

If you’re interested in our other services and you want us to do more to make your company as successful as it can be, reach out to us today! We’d love to give you more information about what we can do for you as a client and discuss how you want to utilize our services.  

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