Professional services firms sell knowledge and expertise and face different challenges than that of product-producing businesses. Profitability comes from ‘face time’, or billing hours, with clients – all of whom have unique needs and demands. If team members don't meet with clients or work on specific projects, they do not earn money for the firm. Plus, without expert professionals and a formidable reputation, the firm may fail.
Business professionals need easy access to information to make timely decisions. SVA has what you need, when you need it. Choose a topic below or just contact us directly. Our expertise is ready anytime you need it.
Entity choice is not a one-and-done decision. SVA will evaluate the distinct types of entity options and recommend the one with the best tax advantage that meets your needs now and in the future. The structure you choose has financial, legal, and operational implications. We will help you select a business structure to balance legal protections with other benefits.
Handling all your payroll, tax preparation, and bookkeeping needs in-house requires staff who are experienced in these functions, as well as the continual updating of your accounting software. These are time-consuming tasks which can be easily outsourced to an experienced provider. You can outsource as much or as little of the work and ensure there are adequate internal controls to avoid any risk of having the same people perform multiple duties.
Learn more at our outsourced accounting page.
SVA can assist in proactive analysis and development of a company's buy/sell and operating agreements to avoid confusion and future problems. A critical factor in determining a buy/sell agreement's financial side is understanding the company’s value. We have a team of valuation experts to provide a valuation analysis that meets your needs.
SVA works closely with businesses to determine appropriate executive compensation including incentives, options, and benefits. We help tailor a plan to meet and balance the objectives of the business and the executive.
SVA will work with you to understand and plan entity level tax decisions. Our holistic approach will maximize the tax benefits and provide the best results for the ownership team. We will help you react quickly to everchanging federal and state tax regulations. As individual owners you have unique challenges and opportunities which SVA will help you navigate and understand.
Several factors must be considered in making a buy vs. lease decision. The risk of obsolescence, capital needs, accounting treatment, and the useful life of an asset are all factors that must be considered when this decision occurs. SVA can help analyze the situation and give insight into what will make sense for your business needs.
Many companies do business in states other than where they are located – it's part of growing your company, competing in a larger marketplace, and making smarter business decisions. Service providers have a much lower threshold than what a typical "tangible goods" company faces when determining whether they are subject to taxation in each state. Our professionals can help you determine your company's multistate tax situation, take steps to insulate your activities from overzealous states, and minimize your overall state tax liability.
There is a misconception that R&D tax credits are reserved for companies that have a dedicated R&D staff. The truth is any business can qualify as long as they adhere to a few simple guidelines outlined in this eGuide.