Top CPA Thomas McAlister, founder of Thomas J. McAlister P.C in Denver, CO, explains in an interview how he helps his small business clients turn a profit. For more information please visit http://thomasjmcalister.com
Denver, CO, United States - October 26, 2020 /MM-REB/ —
In a recent interview top CPA Thomas McAlister, founder of Thomas J. McAlister P.C in Denver, CO, recently revealed in an interview how he helps his small business clients turn a profit.
For more information please visit http://thomasjmcalister.com
When asked to comment, McAlister made the point that many small business owners are unaware of how much a professional accountant or CPA can help save businesses money – as well as assisting businesses in engaging in profit-generating operations.
For example, McAlister often provides small business owners with advice about the legal structure of their business.
When asked to elaborate, he commented, "As businesses grow and expand, the legal structure that they initially started with
might not be ideal. As an experienced CPA, I guide my clients by advising them on the best legal structure suited to their
According to McAlister, while being classified as a sole proprietorship is easier for daily operations, it doesn’t shield the small business owner against any debts, losses, or liabilities.
“In other words, changing the legal structure of a business as it expands will help save owners money in the long run,” he added.
Another thing that McAlister does to make money for his small business clients is plug holes in any cash flow gaps.
“Small business owners often find it difficult to maintain cash flow. This is no surprise as cash flow can easily be disrupted by late outgoing payments and unexpected costs. But what we do is help our clients by giving them the latest tools so they can predict a cash flow crisis before it happens."
When asked where tax advice fits into McAlister’s money making strategy for his clients he was keen to clarify the difference between tax preparation and tax planning.
When asked to explain, McAlister said, “We go a step beyond simple tax preparation for our clients. Tax prep is one of the main accounting services provided to all small businesses, but tax planning is something few take advantage of."
"Tax planning is all about strategy and making sure you take the right steps in advance. Having someone consult with you on tax planning will result in better business decisions as well as lower tax income or rates - or even the elimination of certain taxes altogether."
Release ID: 88981679