Pratt and LeFevre Corporation
|A monthly newsletter brought to you by your Pratt and LeFevre Corporation Team|
|VOL. 2, ISSUE 10||October 2023|
Financial Planning Month is here, and it's the perfect time for small business owners like you to take charge of your financial future. Think of it as a friendly reminder to give your finances some well-deserved attention. You don't need to be a finance expert – just a few smart money moves can make a big difference.
Set Clear Financial Goals
First things first, set clear financial goals for your business. Do you want to increase profits, reduce debt, or save for a big investment? Having specific goals in mind helps you stay focused and motivated. It's like having a roadmap for your financial journey. This is one of the many reasons Pratt and LeFevre Corporation assigns a seasoned and trained Strategic Advisor to you.
Review Your Budget
Take a close look at your budget. Are there areas where you can cut back or reallocate funds? A well-planned budget helps you manage your money more efficiently. It's like keeping track of expenses to avoid surprises. Your financial planning and budget should include tax planning. Using Pratt and LeFevre’s system most of our clients may be able to reduce their taxes by 60% to 70%, keeping the cash handy for you to use as you see fit. REMEMBER: A CEO’s job is to plan for “What if”.
Plan for the Unexpected
Life is full of surprises, and some of them can impact your business. Consider setting up an emergency fund to handle unexpected expenses. It's like having a safety net for your business, giving you peace of mind. This can be done by looking at the finances for all your entities and decide which one would best be able to keep the extra cash on hand you have from reducing your tax liability. That is one of the reasons Pratt and LeFevre Corporation assigns all our clients’ companies a personal CFO (Chief Financial Officer).
Consult with Financial Experts
If financial planning feels overwhelming, don't worry. You don't have to go it alone. Reach out to professionals like Pratt and LeFevre who specialize in helping small business owners. We can assist you in creating a solid financial plan tailored to your business needs. One of the many benefits of working with Pratt and LeFevre Corporation is that you have at your beck and call a team of experts that don’t give conflicting advice. These experts are trained specifically to work with small businesses. So, let's celebrate Financial Planning Month by making smart money moves and securing a brighter financial future for your small business, using Pratt and LeFevre Corporation’s team of highly trained experts. Remember, it's all about setting goals, managing your budget, and preparing for the unexpected. If you need guidance along the way, we're here to help.
BUILDING A STRONG FINANCIAL FOUNDATION FOR YOUR SMALL BUSINESS
The Basics of Financial Foundations
Financial success begins with building a solid financial foundation for your small business. It's like the strong base of a sturdy house. First, make sure your books are in order. Use accounting software to keep track of income and expenses. This helps you see where your money's going and makes tax time easier.
Organize Your Finances
Organizing your finances is vital. Keep all your financial records safe and sorted. Create a budget to plan how you'll spend and save money. This budget acts like a roadmap for your business. It helps you stay on track and avoid overspending.
How We Can Help
At Pratt and LeFevre, we specialize in helping small business owners like you build strong financial foundations. Our team can set up your accounting system, organize your records, and guide you in creating a budget. With our support, you'll have a sturdy financial base to grow your business.
MAXIMIZING TAX EFFICIENCY: STRATEGIES FOR SMALL BUSINESS OWNERS
Cutting Taxes the Right Way
Taxes can take a big bite out of your profits, but there are legal ways to reduce your tax bill. We're here to show you how. First, we'll help you understand the latest tax rules. Tax laws change, and knowing what's new can save you money.
Smart Tax Moves for Your Business
We'll share smart tax moves tailored to your business. For instance, we'll show you how to claim deductions, credits, and exemptions that apply to you. Plus, we'll help you plan for taxes throughout the year, not just during tax season.
Reach Out for Expert Help
Don't let taxes stress you out. Reach out to Pratt and LeFevre Corporation for expert tax assistance. We've helped thousands of small business owners maximize their tax efficiency. Let us do the same for you. Together, we'll make sure you're not paying a penny more than you should.
Have you been to our website lately?
Meet our team specialists at https://prattandlefevre.com/our-specialists/
Each of our specialists follow the O.N.C.E. (Own Nothing, Control Everything) Process in their own business. Our team has their own successful business and contracts with Pratt and LeFevre Corporation to work with clients, bringing their expertise in business, accounting, taxes, financing, marketing and more. Visit our website today to learn more about Pratt and LeFevre Corporation team of specialists ready to work with you.
In addition, you can read all of the back issues at www.prattandlefevre.com/newsletters-2/
|DISCLAIMER: Pratt and LeFevre Corporation has several attorneys on retainer. Any information contained herein should not be considered legal advice. The above is only an explanation of instructions given to Pratt and LeFevre Corporation by our attorneys which we have been given permission to explain from a lay-person’s point of view only. Any clarification or questions must be answered directly by an appropriate attorney.|
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