How We Work With Business Clients
The Railsback Group, P.C. starts with an initial consultation at no charge where we:
- Get to know each other and assess if this will be a mutually beneficial relationship
- Assess your goals and objectives
- Identify your current challenges
Based on the discussion during the initial consultation along with reviewing additional information we request, we will prepare a customized solution to help achieve your goals and objectives. We will prepare a tailored solution focused on your goals and objectives. Frequently this solution is comprised of Advisory and Compliance Services.
New client engagements always start with advisory services because we believe the best way to help people reach their goals is by spending valuable time together developing a strategy.
- Advisory services typically range from two to five sessions conducted either in person or via video conference where we help you develop your overall tax and accounting strategy
- These services are billed as a one-time up-front fee
Below are examples of our advisory services. We determine together which are appropriate based on your specific needs.
- Accounting System Set-Up
- QuickBooks Training
- Entity Selection: LLC vs. S Corporation
- Operating your LLC or Corporation
- Cash Flow Planning Using Your LLC or Corporation
- Business Operation and Documentation
- Independent Contractor vs. Employee
- Company Fringe Benefits
- Company Retirement Accounts
- Income Shifting Strategies
- Passive Income Limitations and Rental Property Review
Once we help you get your overall strategy in place through your advisory package, we need to maintain your overall strategy. We deliver this in the form of a comprehensive maintenance package that:
- Clearly defines the scope of the relationship (i.e. what we are responsible for and what you are responsible for)
A typical maintenance package would include:
- Business & Personal Tax Return Preparation
- Detailed Review of Accounting
- Annual Depreciation Schedule Update
- Mid-year Tax Planning Meeting
- Quarterly Tax Projections for Estimated Tax Payments
- Phone calls and emails at no additional charge
The purchase or sale of a business is a complex transaction that requires the expertise of an experienced tax advisor along with an attorney, business valuation professional and business broker / investment banker. Since 2004 the shareholders of The Railsback Group, P.C. have been involved in business transactions totaling more than $110 Million. We will work with the other members of your team to analyze the tax implications of various deal structures and advise you on how to achieve maximum tax efficiency.