Dillon Business Advisors

✦Don't wait until January to call your CPA!✦ Did you know most tax savings opportunities are missed because business owners didn't talk to their CPA prior to December 31? Now is the perfect time to schedule a consultation with your CPA to review year-to-date income, expenses, and tax savings opportunities. Why now? Because much like you, many CPAs and their teams want to celebrate the holidays away from the office! Also because some tax saving opportunities require the creation of new accounts or equipment to be purchased and put into service before December 31. Our team would be happy to help you with year-end planning, https://hubs.la/Q02Y_wyC0. #accountingandaccountants #businessadvisors #cpa #advisory #taxsavings

✦ On a scale of 1-10, Dillon Business Advisors scored a 9.6! ✦ We are grateful for our clients, and it seems our clients are grateful for their Teams of 3 as well! We sent out an NPS survey last week, and the results are in! Our clients said they would definitely recommend Dillon Business Advisors to their friends and colleagues. But that's not all! Here are few messages we received with the NPS ratings: "Great team; always great advice." "We really enjoy working with Lezlie and Katie! They have been extremely supportive, work hard to understand our needs and our business and offer sound advice and solutions." "I have always received excellent service from the DBA team." "We love you guys. Always caring, prompt, accurate, proactive. Nothing but good things." "Best in class service, super responsive, and they make you feel like a special client vs. just a number in a huge list of clients." "Great service that exceeds my expectations." "Thank you for all you do. I never feel like the small client that I am!!" "Friendly, family-oriented and competitively priced. The team always has patience with some of my basic and/or stupid questions." "Your team has always made themselves available and have gone the extra mile to meet my needs." "Always responsive and dependable." "Excellent service. Good people." "Great, timely advice." How do we do it? How do we exceed client expectations? We work together! The Team of 3 structure allows every client to get proactive, personalized, professional advice from industry experts. If you have growth goals for your small business, your Team of 3 is ready and waiting to talk with you today! https://hubs.la/Q02Ztlqk0 #smallbusiness #dental #veterinary #dermatology #cpa #taxsavings #businessadvice #advisory

As a veterinarian, what would happen if you lost your practice's accountant or bookkeeper? 😩 Doctor-owner assumes all responsibilities until the role is filled. 😩 Frantically asking for recommendations from colleagues. 😩 Panic and worry. It doesn't have to be this way! The Team of 3 structure ensures your accounting, tax, and advisory services are never interrupted. The accounting Team of 3 is composed of a Client Service Manager, Client Controller, and Client CFO. This fractional accounting team serves small business clients with monthly recurring services including: bookkeeping, payroll, sales tax, tax projections, tax preparation, and business advisory. The Team of 3 works together to ensure each vet client has accurate financial statements by the 15th of each month, tax saving opportunities at midyear and yearend, and confidently evaluates growth opportunities for veterinary practices. So what happens when a member of the Team of 3 suddenly announces a resignation? The remaining two members of the team of 3: ✦ Continue providing excellent accounting and advisory service ✦ Help interview and train the new team member ✦ Alert their leadership team of where additional help may be needed. Don't put your veterinary practice at risk by entrusting your tax, accounting, and business advisory to one individual. Enlist the experience and expertise of a Team of 3 accounting professionals who specialize in tax, accounting, and advisory for veterinary practices. Meet your team of 3 today! https://hubs.la/Q02YZwxH0 #veterinary #cpa #taxsavings #advisory #teamof3 #accountant #businesscpa #cpa

Anyone can use ChatGPT, but... A quick ChatGPT query relayed the following information: Many business owners review their entity structure before year-end to optimize tax outcomes, make decisions about liability protection, and address potential business growth or expansion. Here are some key considerations: 1️⃣Business Entity Types: ✦ Sole Proprietorship: Simple structure where you and the business are the same entity for tax purposes. ✦ Limited Liability Company (LLC): Offers liability protection for owners (members) but allows flexibility in how the business is taxed (as a sole proprietorship, partnership, or corporation). ✦ S Corporation (S Corp): A tax designation that allows income to pass through to shareholders, avoiding double taxation. S Corps have specific rules, such as limits on the number of shareholders and who can be shareholders. ✦ C Corporation (C Corp): A separate legal entity that is taxed separately from its owners. C Corps may be subject to double taxation (corporate tax and shareholder tax on dividends), but this structure may be beneficial for businesses planning to reinvest profits and expand. ✦ Partnership: An agreement where two or more people share ownership and profits. Partnerships can offer flexibility but also have potential for disputes if not well-structured. 2️⃣Why the Year-End Timing Matters: ✦ Tax Optimization: Different entity types can have significant tax implications. A business might want to change its structure before year-end to take advantage of certain tax breaks, deductions, or credits. ✦ S Corp Election: If an LLC or corporation elects to be treated as an S Corp for tax purposes, that election needs to be filed with the IRS by March 15 (for most businesses), but decisions about the structure should be made by year-end to give enough time to implement the change. ✦ Income Splitting: If you're the owner of an S Corporation, there might be opportunities to split income between salary and distributions before the end of the year to optimize tax benefits. While this is great information, an expert accounting team can fill in the gaps to help you make confident year-end business decisions and implement the changes needed that could save you thousands in taxes. Contact our team today! https://hubs.la/Q02YZRk80 #smallbusiness #advisory #yearendplanning #entitystructure #businessgrowth #cpa #businesscpa #taxsavings #teamof3

What would happen if you lost your dental practice's accountant or bookkeeper? 😩 Doctor-owner assumes all responsibilities until the role is filled. 😩 Frantically asking for recommendations from colleagues. 😩 Panic and worry. It doesn't have to be this way! The Team of 3 structure ensures your accounting, tax, and advisory services are never interrupted. The accounting Team of 3 is composed of a Client Service Manager, Client Controller, and Client CFO. This fractional accounting team serves small business clients with monthly recurring services including: bookkeeping, payroll, sales tax, tax projections, tax preparation, and business advisory. The Team of 3 works together to ensure each dental client has accurate financial statements by the 15th of each month, tax saving opportunities at midyear and yearend, and confidently evaluates growth opportunities for dental practices. So what happens when a member of the Team of 3 suddenly announces a resignation? The remaining two members of the team of 3: ✦ Continue providing excellent accounting and advisory service ✦ Help interview and train the new team member ✦ Alert their leadership team of where additional help may be needed. Don't put your dental practice at risk by entrusting your tax, accounting, and business advisory to one individual. Enlist the experience and expertise of a Team of 3 accounting professionals who specialize in tax, accounting, and advisory for dental practices. Meet your team of 3 today! https://hubs.la/Q02YFLrt0 #dentist #cpa #taxsavings #advisory #teamof3 #accountant #businesscpa #cpa

Simple, but not easy! While getting a rough estimate of your tax liability might sound simple, there are more considerations than just calculating taxable income and applying your tax rate. Here are a few causes for concern when estimating your tax liability without the help of a professional: ✦ Knowing the difference between tax deductions and tax credits ✦ Categorizing expenses and calculating deductions correctly ✦ Including ALL sources of income We don't recommend estimating tax liability or filing your tax returns yourself if you are a small business owner. Call your CPA or tax professional for a yearend tax planning meeting. Dillon Business Advisors can alleviate the stress that comes with calculating and filing your business and personal taxes. Contact us: https://hubs.la/Q02WGm_v0 #smallbusiness #taxdeductions #taxsavings #businessadvisors #cpa #cfo #taxplanning #businesstax

✦My CPA won't answer my calls much less my questions✦ Small business owners, it doesn't have to be this way! There is a huge disconnect between accounting professionals and the communication expectations of their clients. If you're frustrated😡, check out our blog, on how to improve your CPA relationship and the🖐️ reasons why CPAs are often bad communicators. https://hubs.ly/Q02VmzPl0 #smallbusiness #taxdeductions #taxsavings #businessadvisors #cpa #cfo #taxplanning #businesstax

✦Small business owners✦ Don’t miss these 6 action steps to take in Q4 for a better business in 2025! 1. Take time to review your financial statements. This snapshot of your business’s health is essential for strategic planning. 2. Start tax planning now to minimize your tax liability. Don’t wait until tax season to look for deductions or opportunities! 3. Begin drafting your budget for next year. Consider changes in revenue and expenses to align with your strategic goals. 4. Monitor your cash flow closely to ensure you have the liquidity needed to meet your obligations and seize opportunities. 5. If you’re considering bonuses or raises for your team, plan accordingly. Recognizing hard work can boost morale and retention. 6. Reflect on the financial goals you set at the beginning of the year. Were they met? Use these insights to refine your strategies for the future. Being proactive in your financial approach will improve the profitability and sustainability of your business. If you're looking for a CPA firm that is proactive, gives advice, and provides the services listed above, please contact Dillon Business Advisors. We have a team of 3 accounting experts ready to work with you. https://hubs.la/Q02V5D810 #smallbusiness #q4planning #taxplanning #cashflow #businessgoals #businessgrowth

1 way to stay out of jail as a business owner in 2025! Stop, read, and make sure you comply with this new requirement. ✦Beneficial Ownership Reporting Requirement important info✦ 1️⃣ Deadline Alert: Existing businesses must file by January 1, 2025. New companies have specific timeframes, with noncompliance resulting in fines up to $10,000 and potential imprisonment. 2️⃣ Stay Updated: Report any entity changes within 30 days to maintain compliance. 3️⃣ Get Started: Simplify the process by setting up your free account at FinCEN's website: https://hubs.la/Q02VlLmW0 4️⃣ Stay Safe: Be cautious of fraudsters exploiting BOI requirements. Always verify official communications. 5️⃣ Accuracy Matters: Accurate reporting is the business owner's duty—penalties apply for errors, not third-party advisors. At Dillon Business Advisors, we recommend you speak to your attorney if you need help completing this requirement. Not sure if this applies to you? Contact our team. https://hubs.la/Q02VlVD40 #boi #cpa #smallbusiness #advisory #newrequirement #compliance

✦Small business owners✦ Don’t miss these 6 action steps to take in Q4 for a better business in 2025! 1. Take time to review your financial statements. This snapshot of your business’s health is essential for strategic planning. 2. Start tax planning now to minimize your tax liability. Don’t wait until tax season to look for deductions or opportunities! 3. Begin drafting your budget for next year. Consider changes in revenue and expenses to align with your strategic goals. 4. Monitor your cash flow closely to ensure you have the liquidity needed to meet your obligations and seize opportunities. 5. If you’re considering bonuses or raises for your team, plan accordingly. Recognizing hard work can boost morale and retention. 6. Reflect on the financial goals you set at the beginning of the year. Were they met? Use these insights to refine your strategies for the future. Being proactive in your financial approach will improve the profitability and sustainability of your business. If you're looking for a CPA firm that is proactive, gives advice, and provides the services listed above, please contact Dillon Business Advisors. We have a team of 3 accounting experts ready to work with you. https://hubs.la/Q02TkB_-0 #smallbusiness #q4planning #taxplanning #cashflow #businessgoals #businessgrowth