Lifecycle Plans
Many CPAs offer a set of services as broad as Baskin Robbins’ 31-flavors. This method puts the pressure on YOU to know what you need. Our Lifecycle Plans are designed to follow the Lifecycle of a Business. We believe a business owner’s needs from their CPA change as they evolve through each Lifecycle phase; and we have designed our unique service plans for each phase.
“We’ve done business with CRC for several years now. I recommend them to anyone. From simple to complex files, they are at the top of their game with professionalism, customer service and ROI.”
Alex V.
Phase One – Moonlighting
- Entrepreneur has a BIG IDEA.
- Entrepreneur has a “Day Job” and creating the business as a side-hustle. Also referred to as “Moonlighting”.
- Sometimes a borderline between Hobby and Business.
- Generally Sole Proprietor. For example, John Smith doing business as (DBA) John Smith.
- Entrepreneur is distributing ALL positive cash flow from the business. No cash reserves.
Phase Two – Solo-preneur
- Proof of concept of BIG IDEA is going well.
- Entrepreneur quits day job because the BIG IDEA has created a full-time job for themself.
- Generally LLC formation begins for legal liability protection.
- Business is providing sufficient cash flow for the entrepreneur to sustain personal living expenses in their household budget.
- Entrepreneur starts to consider being paid through payroll to standardize cash flows.
“Can’t say enough about the expertise at CRC. We appreciate the ability to trust the team so we can focus on our business. Thank you CRC for your excellence!”
Ammie C.
Phase Three – Solo-preneur Plus
- Business is sustaining consistent profits and earnings from one year to the next, not a lot of volatility.
- Entity selection and restructuring, for tax planning purposes, is beginning to be considered.
- Starts making sense for the owner to be on a salary of their own company for fixed (or flat) take-home pay.
- Still no other employees, other than owner-employee.
Phase Four – The BOSS
- Hiring of employee #1 (non-owner employee).
- The concept is now a well-designed Product or Service.
- A focus on developing internal processes for “how it’s made”
- Budgeting/forecasting is beginning to be important. Payday now impacts others besides themself! This is Small Business America at its best!
- Tax Projections are very VALUABLE! Because cash flow is now critical, and can’t afford big surprises from unknown tax bills!
“CRC handles our personal taxes as well as the business corporate taxes, and their staff takes care of all of our payroll. They schedule yearly reviews, making sure we are always heading in the right direction.”
Randy H.
“Saying we are grateful to have them as part of our team is an understatement. We’ve appreciated the candidness and feel it’s always been in our best interest. This year they’ve been extremely beneficial in helping us reduce our tax burden. And always the right way. Thank you very much.”
Brian P.
Phase Five – Scaling Up
- It’s no longer a Product/Service. Now its a Company – providing a lifestyle and livelihood for other employees.
- Entrepreneur considering acquisition of real estate to become their own landlord.
- Budgeting/forecasting is CRITICAL for making payroll month to month; and still scaling your growth.
Phase Six – Mature
- Looking to expand to multiple locations.
- Looking for succession plan or exit strategy.
“CRC has been tremendous in assisting our growing company. They’ve been proactive to offer us ideas and systems to improve our company, along with the regular input on our financial statements to identify both positive and negative items and trends that arise. It’s great to have an accounting service you can rely on for accuracy and insight, but it’s even better to have a company like Compere that also looks for any number of other ways to help your company and bottom line!”
Brokate Janitorial
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