Business Services in The Woodlands, TX
Working towards growing your small business and making huge profits? Record keeping plus financial analysis is a perfect way to unveil avenues of growth while monitoring your business expenses and income. Business accounting also takes care of your tax obligations to the state and your employees as required by the law. Your business's objectives determine its growth and survival in a competitive market, and The Woodlands team can give you the edge you need to achieve your goals.
We offer accounting services that will help you make informed business decisions daily. Our staff is knowledgeable and friendly, and we have three convenient locations to serve you; one in The Woodlands, TX, between Spring and Conroe near Houston, one in Frisco near Dallas, and one in San Diego, CA. Contact us today and see how we can help!
Benefits of Using a Professional Business Accounting Service
Our business accounting services will save you the trouble of cash misuse and unnecessary purchases by establishing protocols that strengthen internal controls. We are more than willing to formulate and implement an efficient record-keeping and financial strategy for your small business. Check out some of the benefits you will enjoy from our business accounting services:
Control and Create a Budget: When you are familiar with your business cash flow, creating and monitoring your business budget is simplified. With a smart budget, you will use every coin invested in the right manner.
Predict Revenues: When you accurately record your income and expenses, you are in a better position to forecast your business revenues. Our accounting team will help you understand if your current course is working, or if you need to make changes to increase revenues.
Make Accurate Purchase Decisions: Accurate accounting will help you make better business purchase decisions. For instance, the purchase of a company vehicle or new building lease will have an impact on your business cash flow. We have adequate expertise and experience to help you decide on what to purchase now and what to buy at a later date, depending on your business objectives.
Track Your Business Expenses: We will track your daily expenses, whether you are paying your employees or making sales calls, every payment matters. Small costs that go unrecorded add up over time and may alter your financial and overall business goals.
Tax Obligations: Our CPA's will prepare data required for tax planning and preparation using QuickBooks. This data allows you to handle your tax obligation on time and to receive the proper deductions.
Monitor Your Business Growth: One of the benefits of business accounting is the ability to monitor your business growth. We will prepare detailed reports of your on-hand revenues, liabilities, and assets. You will know whether your marketing strategies are efficient or not and whether you meet your accounts payable and accounts receivable obligations.
Accurate and Detailed Accounting with QuickBooks
Your business needs comprehensive and precise accounting. We use QuickBooks to simplify the process and ensure efficient and accurate accounting. Also, we will organize your data for a smooth tax filing process. We spend hours balancing your records so you can focus on service, delivery, and the growth of your business. Additional benefits of using QuickBooks include:
- Unlike many other accounting programs, QuickBooks is easy to learn and use. With or without any financial background, you can learn how to use the program within a short period.
- QuickBooks can be used alongside other applications, making it more useful and efficient. For instance, after recording your business income and expenses, we will forward the information to a tax preparation program. QuickBooks also integrates seamlessly with Microsoft Excel.
- We will customize QuickBooks to suit your business structure and processes. Our accounting team will make your documents look different and official by adding your company's logo and other company details. Your debtors will quickly notice your business invoices and make payments on time.
- Signing hundreds of checks now and then is a daunting task. With QuickBooks, we can scan and upload your signature that you will use on your documents. This sets you free to handle other urgent and critical tasks.
Why Choose McMahan & McMahan?
We have the knowledge and experience to handle even the most complicated business accounting needs. Our team specializes in bookkeeping and financial analysis and will help you make better decisions depending on your business's financial status and goals. Time is precious, and accurate bookkeeping can determine your business stability and success. However, it is also very time-consuming. Enlisting our professional business services will allow you to focus on growing your business.
We can advise you on day-to-day business operations that can help boost your business growth and create a more stable financial position. Bill pay services allow you to pay individuals and companies via mobile or internet banking. Our team will manage your business accounts payable bi-weekly or weekly, depending on your business needs.
Industries We Serve
We offer a wide range of services designed to help your company prosper and grow. Our team is experienced in an array of industries and has specific knowledge to resolve the most difficult challenges. We serve sole proprietors, S and C corporations, and non-profit organizations. Our professionals also deal with industries that specialize in technology, Oil & Gas, Medical, and Real Estate.
Our CPAs, bookkeepers and business advisors stay current to maintain substantial knowledge of the industries we serve. We work hand in hand with your staff to develop and implement realistic and competitive business and accounting strategies. We eliminate problems before they arise by understanding your business goals, needs, pinpointing opportunities, and weighing potential risks. This way, you spend your energy and time on what you do best.
Like most business owners, you have probably received advice to invest in bookkeeping services. If you have not yet considered this advice, it might be the best time to put it into practice. Bookkeeping is more than just recording receivables and payables. Accurate accounting will ensure that you are ready for tax season, that you can effectively manage your debts, and understand the source of your business losses and profits.
Information on your most profitable services and products can help you target your marketing efforts and cut unnecessary spending. Keeping a record of your business's financial details is also vital for securing investors. When you know your current business status, it's easy to predict potential future success that may attract more investors. Bookkeeping is also essential for filing taxes and helping your business take advantage of every deduction while avoiding liabilities.
New Business Formation
The first step to starting a business is selecting a legal structure. The decision you make will not only determine your tax obligations but also the amount of paperwork you will handle throughout the year. We are ready to guide you through the selection process and offer valuable information from the beginning to the end. After selecting your preferred business entity, we will offer other crucial services such as registration, business planning, budgeting, payroll setup, and accounting.
Opening your firm is exciting, but everything that follows can significantly impact the future success of your business. You need a plan of action to fulfill your goals and dreams of running a profitable business. Our team will help you avoid some of the common mistakes when starting a business.
Essential Payroll Services
Payroll refers to all activities related to paying your employees and payroll taxes. It includes a list of employees and the amount that each receives at the end of the payment period. Taxes withheld, bonuses, and records of your employees' wages or salaries are all vital pieces of information that must be tracked and recorded accurately. Every employee will fill Form W-4 to declare their social security number, tax withholding exception, and name. Our team will keep a record of time off and hours worked, overtime pay, and deductions.
Payroll mistakes can cost your business a substantial amount of money in taxes, litigation costs, or even take long to fix the problem. With a background in accounting and experience in the field, we will prepare and run your business payroll efficiently, avoiding common mistakes, including:
- Processing incorrect information
- Late payments
- Misclassifying employees' status
- Not accurately calculating or reporting overtime
- Wage garnishment violations
There are several methods for paying employees, such as cash, electronic payments, or checks. Most people prefer electronic payment, also known as direct deposit. If you choose direct deposit payroll, the money will move from your account to your employees' bank account quickly and accurately. Your employees will receive payment on time, and you will avoid last-minute adjustments or lost paper checks.
At McMahan & McMahan, we will guide you through the whole process and help establish a standardized structure that can be scaled as needed in the future. Remember, the IRS expects you to send in payroll taxes on behalf of your workforce. Our tax professionals will help you calculate the amount of payroll tax you should withhold from your employees every month and how to pay it.
Plan for a Successful Future
Every successful business stands on the foundation of an accurate and reliable accounting system. Our team will develop an accounting strategy that suits your company's structure and financial goals. Our experts have many years of experience in comprehensive accounting, bookkeeping, payroll services, and provide insightful business advice. We will work closely with your staff to develop unique solutions for your business problems. Contact our firm in The Woodlands today for more information!