Checklist to Know Your Current Business Financial Status:

🗹 Financial Statements: This includes the balance sheet, income statement, and cash flow statement for the past few years, providing an overview of the business's financial performance and position.

🗹 Tax Returns: The business's tax returns for the past few years can provide insights into its profitability, expenses, and tax obligations.

🗹 Sales and Revenue Records: Detailed records of sales, revenue, and invoices for a specified period can help assess the business's revenue streams and growth trends.

🗹 Accounts Receivable and Payable: A breakdown of outstanding customer payments (accounts receivable) and outstanding payments to suppliers (accounts payable) provides a snapshot of the business's cash flow and financial obligations.

🗹 Asset Inventory: An inventory list of the business's tangible assets, such as equipment, machinery, inventory, real estate, and intellectual property, helps assess the value of its physical resources.

🗹 Debt and Loan Documents: Any loans, outstanding debts, or credit agreements should be documented to understand the business's financial liabilities and obligations.

🗹 Contracts and Agreements: Reviewing existing contracts and agreements with customers, suppliers, partners, and employees helps assess the stability and continuity of business operations.

🗹 Organizational Structure and Legal Documents: Articles of incorporation, bylaws, shareholder agreements, partnership agreements, and other legal documents are necessary to understand the business's structure and ownership.

🗹 Customer and Market Analysis: Market research reports, customer surveys, and industry analysis can provide insights into the business's market position, customer base, and growth potential.

🗹 Business Plan: The business's current or most recent business plan can provide strategic insights and growth projections.

🗹 Intellectual Property Documents: Patents, trademarks, copyrights, or any other intellectual property documentation should be included to assess the value of intangible assets.

🗹 Employee Information: Employee contracts, payroll records, and benefits information can help evaluate the workforce's impact on the business's operations and expenses.

🗹 Insurance Policies: Details of insurance policies, including coverage and claims history, provide insights into risk management practices and potential liabilities.

🗹 Legal and Regulatory Compliance: Documentation related to licenses, permits, regulatory compliance, and any pending or past legal issues is essential for assessing potential risks and compliance matters.

🗹 Industry and Competitor Analysis: Reports and data on the industry, market trends, and competitor analysis can provide context for the business's performance and competitive advantage.

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A Message From Our

CEO DAVID A PEREZ

Are you a high-income earner who's tired of giving the IRS all your profits?

Do you have a CPA who's not actively seeking ways for you to pay lower taxes? Schedule a call with us!


The days of your CPA saying, "You made money, now pay the taxes." are over.

There's another way!

Let a Tax Plan Expert show you the NEW WAY!

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