New Year, Are You and Your Business Prepared?

New Year, Are You and Your Business Prepared?

As we begin 2022, we start with new resolutions and goals personally and professionally. If you have been working with our team of specialists, you know the importance of strategizing your business to maximize your tax saving while minimizing your legal exposure and creating a path for generational wealth.

This is the time to make sure you have set a time with your Corporate Strategic Advisor (CSA) and your Chief Financial Officer (CFO). If you are not sure who has been assigned to your account?

Please contact Keith Weaver and he will connect you with them. keithw@prattandlefevre.com

Think of your Corporation as your neighbors home, you would never go into their home and take what you want. That is call theft or embezzlement in business. You have to remember any money that is spent in your Corporation, HAS TO BE EXPENSED! You have to expense it out through an invoice, contract, loan or purchase.

This is why it is so important to complete your asset transfers if you have not done so already. Get in contact with your Account Executive today. Remember as the tax season is coming upon us, to make your appointment with our Tax Specialist.

Marvin Crowther at: https://calendly.com/marvin-65

Accounting Tip by Tera Shoop: It is essential to keep records of money spent and understanding how the cash flows from your Corporation to your new LLC.

Remember your Corporation is the publicly visible structure in the Pratt and LeFevre Corporation O.N.C.E. Strategy. Your LLC is private.

Therefore, Income comes to the Corporation from the public and expensed to the LLC. The LLC then pays the expenses: Mortgages, utilities, upkeep, interest, insurance., etc. For your income (1099)you can send either an invoice to the Corporation and expense to the LLC and/or invoice to LLC for consulting fees. This keeps you at arms length.

As you are learning our process, it can be very confusing. It is better to get your accounting set up at the beginning of the year, not at the end.

Contact Tera to help set up your accounting processes at: info@shoopfinancial.com

We are committed to providing excellent service to everyone you refer to Pratt and LeFevre Corporation. As a way to say thank you, Pratt and LeFevre has set up an affiliate program.

Through our affiliate program, we have had the pleasure of meeting new friends and clients from California to New York, Florida, Tennessee, Texas, Georgia, Idaho, Colorado, Maryland, Virginia, Oregon, Nevada, Wyoming, Arizona, Hawaii, Alaska, Missouri, Minnesota, Iowa, Connecticut, New Mexico, and we are continuing to meet more.

Contact Tiffany Stuart, our National Sales Director at: tiffanys@prattandlefevre.com