Get the inside scoop on how our subscription process is designed to make your life easier. From signing up to enjoying ongoing services, it's a breeze.
1. Initial Introductory Meeting
The goals of this meeting are to get to know each other; for you to become familiar with our Advisory Services and Monthly Subscription Plans and for VTA to get familiar with your business and individual needs and goals. Before the start of this meeting, we will provide you with several handouts with additional information from which you can ask any clarifying questions. By the end of the meeting, you will have all the necessary information to make an informed decision and we hope that will choose us as a partner in your growth through our business and tax advisory services.
2. Receive, Review, and Sign our Business Advisory Services Agreement and Setup Secure Client Portal Account to Continue Our Client Onboarding Process
After the Initial Introductory Meeting, we will send you an email with our Business Advisory Services (BAS) Agreement which you will first need to read, review and sign. Once you have signed up, you can forward the signed document via email back to us so that we can send a link to your unique Secure Client Portal. When you first get access to your Portal, you will have access to several other documents that require your action (documents require your signatures, such as Form 2848 (IRS POA) and ACH auto draft form). In your Portal folder, there will be a document titled “List of Requested Documents to Be Uploaded” that includes the aforementioned documents to be signed as well as other information we will need from you in order to finalize the onboarding process and to get started on providing you with services. Depending on your communications processes, this list could also be emailed to you. Also note, if debit/credit card is preferred for monthly auto draft, Click Here.
3. Compliance Check and Schedule Deadline for Various Tax Return Types
Once you are fully onboarded and we have received all necessary information, we will first prepare for any upcoming or delinquent reporting deadlines of the current year to ensure you are compliant. Depending on the current date and what services for which you have engaged us, we will look to the deadlines for all tax return types: sales taxes, payroll taxes, quarterly estimated tax payments, business personal property taxes, federal and state business, and individual taxes.
4. Review of Current Year-to-Date Activity & Bookkeeping Cleanup
After we ensure you stay compliant in the current year, we will review your current year’s income and deductions to see what tax strategies can be implemented in the current year. Make sure that you have provided us access to your web-based account program (QuickBooks, Xero). For most deductions, the timing of when they are claimed, and actual cash expenditures play the greatest factor. Therefore, we need to look at whether any deadline has been surpassed and whether you have enough cash flow for certain expenses to claim the deduction. We will also look at the data from the previous two years to clean up the books, make necessary adjustments to match prior year returns, or find missed deductions and return amendment opportunities.
5. Review of Previous Two Years’ Business & Individual Tax Returns
With a review of prior years’ activity, we can now start to envision a redefined tax strategy. We will perform an in-depth review of the previous two years’ tax returns for your business as well as your individual return. This review will provide us great insight into where you have been that can help us build a tax strategy that meets your goals and gets you where you want to be. Additionally, a review may uncover amendment opportunities for a tax refund or to restructure deduction claims or how items are reported that may be beneficial down the line.
6. Comprehensive Strategic Business & Tax Plan Meeting*
Once current and previous years have been reviewed, we will put together a preliminary Comprehensive Strategic Plan that will incorporate stated business and tax goals, all of which we will go over together in this meeting to refine strategies and clarify goals. The meeting agenda will go over the following:
7. Implement Agreed Upon Business & Tax Strategies
As mentioned before, some tax strategies can be implemented immediately. We will continue to monitor and provide guidance on the implementation of the remaining strategies. Some of the most popular strategies are the following:
Pick a time that works for you and let's talk about your financial goals.