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Business Services

Business Services in Bucks County, PA
Business Meeting
Business Start Up

Personal Business Services

You can count on us for any business planning! We will assist you in the event of starting a new venture, product or service, expanding a current organization, product or service, buying a new business, product or service and turning around a declining business.

We will help you develop staffing plans including identifying key players, skills, attitudes and expertise needed to build the venture and…

  • Develop marketing plans
  • Develop management plans
  • Develop financial plans including projected startup cost, operating cost, revenue, profits, and break-even analysis for the first 3 to 5 years

Business Services Include

  • Business Startups – helping you fulfill your dream or goal of being your own boss and running a successful business.
  • Non-Profit Organizations – helping you setup and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you.
  • Bank Financing – helping you be prepared and organized in your approach for financing.

TAX REDUCTION RELATED TO COSTS

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GROWTH IS YOUR FRIEND

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Thinking of owning your own business? We at Fox & Company, P.C. have a methodical plan of action to fulfill your dream or goal of being your own boss and running a successful business.

We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We help you:

  • Prepare an initial business plan to clarify your marketing, management and financial plans.
  • Determine your start-up capital needs.
  • Identify sources of start-up capital and backup sources if needed.
  • Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
  • Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
  • Select the right accounting software by evaluating your budget, needs and hardware.
  • Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
  • Establish billing and collection procedures to maximize your cash flow.
  • Establish procedures to monitor and control costs.
  • Setup a home office so you can maximize your tax deductions.
  • Prepare and file all required state and local licenses and permits.
  • Prepare and file your application for your Federal Employer Identification Number.
  • Provide payroll services and payroll tax filing when you bring on your first employee.
  • Comply with employment laws so you don’t get hit with fines and unhappy employees.
  • Identify your business insurance needs.
  • Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.

We help you setup and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you.

Each year the IRS requires most tax-exempt organization to submit the Form 990 and it’s relations, which includes:

  • Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent, etc.
  • Balance Sheet with specific categories like cash, accounts receivable and accounts payable.
  • Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.
  • Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
  • Revenue Support Schedules that detail the organization’s sources of income in specific categories like charitable donations, membership fees, investment income.

The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status.

** We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of minister.**

Need money to grow your business?

Requesting a business loan without adequate preparation sends a clear message to the lender: High Risk! Therefore, it pays to be prepared and organized in your approach for financing.

Put your best foot forward by allowing us to prepare a winning loan proposal for you. Our proposals have a high likelihood of success because they’re created from the lender’s perspective.

You get the money you need because we know exactly what banks want to see. Even more importantly, we know how to prove to them that you’ll be able to pay them back.

Our winning loan proposals come complete with:

  • Executive Summary: Where we concisely state the purpose of the loan, the exact amount of money required, an explanation of what the loan will be used for and why it’s needed.
  • Pro-forma Cash Budgets and Financial Statements: We use your data and underlying assumptions to prepare information that your banker can easily read and buy in to.
  • Owners Personal Financial Statements: We make copies of the last 3 years of personal tax returns for the bank as well as identify the collateral being pledged as security for the loan.
  • Representation: We help substantiate your financial needs/position to your banker in person.

The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status.

* We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.