Outsourced Accounting

 
 

Our white-glove outsourced accounting service is designed for high-income professionals who want to spend more time growing their business than worrying about financials.

If you feel like you never hear from your accountant, or when you do, it’s flustered, last minute, and backward-looking, then our service is designed for you.

Our goal is to be the last accounting firm you ever work with. We offer a fresh, tech-forward solution to accounting for small businesses and medium-sized businesses. Our services are best for businesses generating at least $200,000 in net income annually.

Schedule a consultation to see if we’re an excellent fit for you and your business!

Our goal is to combine personal financial planning and business accounting to get you fast-tracked to financial independence!

What Do you Get, and How Much Does it Cost?

Personal Financial Planning

$500/month for individuals

$667/month for couples

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Bookkeeping for your Business

$500 - $2,000/month, dependent on complexity and scope (book a call for a quote!)

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Filing of Your Tax Returns

$0 (included in your monthly subscription) for personal 1040 tax return

$2,900/year for S-Corp, C-corp, Partnership or other business entity return

Bookkeeping - What We Do (What’s Included in Your Monthly Subscription)

  • Bookkeeping - monthly reconciliation of your books

  • Advice on KPIs to track

  • Make tax payment recommendations (amount and timing to avoid penalties)

  • Retirement plan recommendations for you and your employees

  • Focus on the long-term plan for the business and your life plan

  • Exit planning

  • Annual retirement account recommendations

  • Cash Flow decisions - which banks and credit cards are best for your needs

  • PAY YOURSELF! Setting up reasonable wages, making payroll and salary recommendations

  • Help you make hiring decisions - when to hire employees based on a forecast

  • Annual tax projection (typically in November) to predict your tax bill

  • We can work directly with you, the owner, or someone on your team, like a controller

  • Our team is here to give you unlimited support through emails and meetings with a business tax expert

Bookkeeping - What YOU Do (Your Input is Needed)

  • Answer monthly questions about transactions.

  • Implement our payroll recommendations via your payroll provider.

  • Accounts receivable / accounts payable (BKFi does not issue invoices or collect payments on your behalf).

  • Most tax returns can be filed electronically; occasionally, we ask you to physically mail a tax document.

Bookkeeping - What We Can Do (Billed at Hourly or Fixed Rates)

  • Preparation of your individual and/or entity tax return

  • Any meetings with third parties

  • Forecasting and budgeting

  • Accrual based accounting

  • IRS or State Audit Representation

  • Registering to do business in a new state (e.g. registration with Dept of Labor/Revenue/Franchise)

  • Personal Income tax returns of owners

  • Coordinating with CorpNet, our legal experts, to handle the implementation of filing requirements (third party fees billed separately)

  • Ad Hoc Custom Financial Reporting (e.g. weekly Sales by Client reports, Sales by Location, etc.)

  • Departments and Classes and Location tracking in QBO

  • Migrating accounting data from one software to another (e.g. Freshbooks to Quickbooks Online). Billed at separate rates directly from tech solution.

  • Consolidation of multiple entities

  • Amended Tax Returns that are required because the information necessary to be included on the return (e.g. tax credit qualifications, adjustments to entity structure, business expenses not included on the personal returns) was not made available to BKFI Tax within 2 months of the filing deadline

  • Accredited investor verification

  • Mixing business/personal expenditures in the accounting data or manually adding business expenses into the accounting records on a monthly/quarterly basis