Architectural firms, by their modern nature and due to recent tax and other fiscal incentive changes, have a particular set of regulations and guidelines that can benefit their operations greatly. Before those can be used, they need to be known. 

Whether your firm needs help applying for or calculating Domestic Production Deductions, is considering a change in business structure to LLC, Corporation, or LLP, or need to determine if it's worthwhile (and how) to be considered a female-owned business for tax purposes, we're there to guide you through the process and keep the finances in check while you focus on the foundations of business building.

Whether you're crafting a product that enhances the skin, body, or shape, every design firm has certain inherent challenges in their bookkeeping and accounting.

Foundational items such as guiding a company through an application for a line of credit, or even selection of an appropriate set of insurance policies can try the patience of the best of us, but are needed to ensure the company has the financial runway needed to be successful.

Further complicating matters, any combination of the following can distract you from brainstorming and seeking inspiration for next season's line.

-Focusing the timing of front-loaded investment in production which leads to predictable cash flow peaks and valleys

-Working through the necessities of accrual basis filing for your inventory

-Planning and managing wholesale invoicing - particularly with varying net terms from one vendor to the next

-Dealing with overseas suppliers or producers and their own foreign language invoices, wire payments and currency conversions

We aim to relieve you of the workload these create so that you're freed up to focus energy on creativity.

Retail operators know the full sticker cost that goes into running their businesses. Beyond simple wholesale-to-retail markup, retail businesses likely have the largest volume of transactions and associated costs, which need careful attention. Even "simple" single-location retail locations must consider the recognition of costs associated with credit card processing, sales tax collection & reporting, as well as point-of-sale system management, not to mention accounting for off price sales and returns that cross fiscal quarters and years.

For those with large scale businesses, ECOMM operations, and in house brands, there are further complexities to consider: Inventory asset handling, varied payroll/compensation structures, and multistate employer taxes all come into play. 

Generally speaking, startups present a particular set of circumstances. During the planning and pre-launch phase there are irregular but notable spikes in spending including expenditures related to setting up an office space, establishing a footprint in the industry, and keeping a top-notch bench of employees, not to mention the actual development of the product or service.

On the other side of that, startups have to keep their investors happy. While most investors are thrilled to be in on the ground floor of something they believe in, they also want to feel confident about its foundation.  Besides seeing the company come to fruition, they want to make sure expenses are responsibly handled throughout and that the company is remaining compliant with applicable tax, labor, and business bureaus.

Beyond ensuring that expenses are booked properly for tax purposes, we also work with startups to create financial reports that highlight the relevant and important figures that investors care about - which will differ from company to company. Further, having a third-party handling your books gives your investors peace of mind that no one is taking a joyride on their dime.

Firms in this sector require a strong braintrust staff for the day-to-day account work, as well as a roster of subcontractors to meet the needs of individual clients.

Besides the complexity presented by this payroll scenario, these companies also need someone paying close attention to proper accounting for passthrough funds, categorization of high volume credit card transactions, and tipping points for expansion vs. owner payouts when the coffers get full.  

Beyond creating a floor plan, selecting furniture & fixtures, and directing your design team, there is a full spectrum of accounting considerations that need attention to keep a studio's books in proper order.

Management of proposals, processing of purchase orders and ensuring custom furniture is properly handled on both ends of the transaction, as well as billing clients and filing sales tax all require a careful eye to ensure you can focus on delivering the kind of exceptional service your clients expect and deserve.