Personal Services
Personal Accounting
If you are an individual, perhaps you need help with budgeting or financial planning for your immediate and future needs. You may have an idea for when you want to retire, buy a new home, or make investment decisions. In addition, you may have children going off to college and need help planning the financing for these future events. Next, you may want to secure financing for an investment project you are contemplating. A financial institution, like a bank, is going to want to see your financial statements to determine your past investment activities, your financial positions, where you spend your money, and the amount of cash flow you have coming in along with its sources. If you want to pool investors together, they are going to want to see your financial statements as well.
Your financial statements are different from your tax returns. Your tax returns are not a clear indication of your profitability. The IRS manipulates your reported income and expenses in a way to tax you in the manner they want. For example, they may allow certain expenses and disallow other expenses against your income and tax you accordingly. Another example is that some of your income is taxable and other types of income are not taxable. On the other hand, for financial statement purposes, all your actual income and expenses are relevant. Financial statements better reflect the money you have in your bank account and your pocket. Accounting services help you find where your money is coming from and how you are spending and investing it over a given period of time.