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How Weslaco CPAs and vCFOs Can Improve Your Finances This Year

How Weslaco CPAs and vCFOs Can Improve Your Finances This Year

For many companies, the past few years presented challenges that were difficult to overcome, and 2022 is no different. What can you do to not only maintain your productivity and profits but improve them as well?

Gonzalez & Arrambide, the Rio Grande Valley’s top financial planning firm, has virtual chief financial officers (CFOs) in Weslaco with the knowledge and skills to help your business accomplish these goals.  

Set and Reach Strategic Goals

When it comes to your place in the market, a business must be fully cognizant of what its goals and other future plans are. Skilled certified public accountants and vCFOs are vital when an organization charts out its future, as they understand what opportunities exist in the market. 

A CFO can provide invaluable advice on when and what to acquire or sell.

Acquire and Retain Talented Employees

With more and more employees on the hunt for careers that best suit their needs, some companies find it difficult to attract and retain the most talented candidates.

The vCFOs at Gonzalez & Arrambide offer key advice when it comes to talent retention and work to help reduce executive turnover. We analyze both the company’s goals and what desired employees look for in a job, merging the two to benefit everyone.

Help Budget and Manage Cash Flow Projections

The last thing an organization needs when it tries to excel is uncertainty, especially when it comes to cash flow projections. 

Our vCFOs in Weslaco can:

  • Analyze the state of your finances and current cash flow projections
  • Craft a budget that works for the organization
  • Ensure stability and health of the company’s cash flow

Virtual Chief Financial Officers in Weslaco: A Boon to Your Finances

As you can see, there are a number of ways that the certified public accountants and vCFOs at Gonzalez & Arrambide can improve your organization’s financial state. Get in contact today for help from expert virtual chief financial officers in Weslaco, TX.

If you wish to grow your company and improve your yearly finances, call the professionals at Gonzalez & Arrambide in the Rio Grande Valley who have virtual chief financial officers to help you meet your 2022 business goals!

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What Comes After Tax Season for Weslaco CPAs?

What Comes After Tax Season for Weslaco CPAs?

While it’s undeniable that Tax Day is one of the most important days of the year for accounting firms, virtual chief financial officers in Weslaco can offer business owners help long after it’s over. If you are wondering how certified public accountants can come in handy after Tax Day, the team at Gonzalez and Arrambide is here to shed light on the topic.

Continue to read and learn all the ways virtual chief financial officers in the Rio Grande Valley can be utilized by businesses all year long!

A Litany of Financial Resources 

One of the most beneficial qualities of virtual chief financial officers in Weslaco is that they have a variety of skills and knowledge that can be applied to a broad range of situations: 

  • Financial Advising – One of a CPA’s best talents is their ability to expertly analyze cost efficiency, helping to maximize profits and minimize costs in the process. Many CPAs specialize in certain niches including strategic planning, market forecasting, forensic accounting, and other areas.
  • General Consultation – Certified public accountants can also be hired by companies for comprehensive accounting and consultation purposes. CPAs are able to assist with bookkeeping and payroll duties, address issues with quarterly findings, and make tax season much less stressful for the company.

File Extensions and Prioritize Internal Operations

While Tax Day is a certified public accountant’s biggest day of the year, the work hardly ends there. Not only do some firms need more time to file for the current year, but they may also have a variety of year-round reports that need to be completed.

Virtual chief financial officers can support your organization with: 

  • Extensions After April 15th – Many companies need to file for extensions for various reasons, which means tax season goes past April. In addition to handling the added stress of an extension, virtual chief financial officers in Weslaco can help employers avoid the need to file extensions in the future.
  • Addressing Audits and Other Reports – In the tax “off-season,” there are still many functions a Weslaco CPA can serve. These include filing missed returns for previous years, preparing financial statements, and even dealing with audits by the IRS.

Continuous Education

In all industries, it’s important to learn and adapt to changes in the financial world, and the same is true for accounting firms both public and private. Weslaco CPAs have a lot to offer when it comes to furthering the education of individual companies. For example, certified public accountants can:

  • Provide Quickbooks training
  • Teach classes in Microsoft Office
  • Give seminars on tax preparation, forecasting, and other topics

A lot more goes on day-to-day in an accounting firm than just preparing for April 15th, and the decision to have a vCFO on staff can have incredible benefits.

It’s Wise to Hire a Virtual Chief Financial Officer in the Rio Grande Valley

While tax day is one of the main focuses of all accounting firms, there’s no doubt that the help of certified public accountants can be beneficial year-round. Gonzalez and Arrambide boast a team of highly-trained Weslaco CPAs and virtual chief financial officers in Weslaco.

If you are in need of post-tax season help, look no further than the certified public accountants at Gonzalez and Arrambide in the Rio Grande Valley!

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More Tips on Preparation for Tax Season 2022 From the Top Weslaco Certified Public Accountants

More Tips on Preparation for Tax Season 2022 From the Top Weslaco Certified Public Accountants

As we get closer to Tax Day, the more important it is to make sure you’re prepared to file everything correctly. It’s common to have questions around this time of year, so we’ve organized some additional notes on being ready for tax time.

Your Rio Grande Valley CPAs at Gonzalez and Arrambide want to ensure you feel ready when Tax Day finally comes.

Make a Decision on Filing Yourself or With a Tax Preparer

Depending on your financial situation, you will want to decide between filing your taxes on your own or with a professional. There are a few factors at play when you determine the best course of action:

  • Do-It-Yourself Tax Filing – If you work a job that provides you with a W-2, don’t have any dependents, aren’t a homeowner, or your situation is overall uncomplicated, it is probably simpler and less expensive to file using a tax software.
  • Get the Help of a Professional – Say you own a business and need to file personal and business tax returns or you’re married, working two to three jobs, with several dependents. It may be less of a headache to seek out a CPA for their skilled help.

Whatever your tax situation, the accountants in Weslaco at Gonzalez & Arrambide offer a FREE consultation. They can help you decide what’s best for you!

Check and Adjust Your W-4 Withholding

For people who work a straightforward W-2 career, every January your employer will request a completed W-4 form. This document will determine how much is withheld from your paycheck, based on:

  • Overall Tax Situation
  • Household Status
  • Number of Dependents Claimed
  • Other Adjustments Like Additional Deductions or Income

You can see yourself if you’re withholding too much or too little by comparing two fiscal years’ returns. If the financial situation was overall the same, a large refund could mean withholding too much. However, if you owe the IRS money, not enough money may have been withheld.

Decide if Filing an Extension Is Right for You

“What happens if unexpected problems arise this month?” 

If you want to err on the side of caution, think about filing an extension, which, if approved, would give you until October 2022 to complete the tax filing process. Keep in mind that while filing the extension costs nothing, you could incur additional interest on what you owe.

Even if you’re fairly certain everything will go smoothly, an extension can never hurt as it allows for extra time to make sure everything is correct. To actually file the extension, you or your tax preparer will need to fill out IRS Form 4868. 

Get the Best Tax Advice from the Rio Grande Valley CPAs at Gonzalez & Arrambide

Regardless of your financial situation, it can be helpful and reassuring to seek the support of tax professionals. That’s why the Weslaco certified public accountants at Gonzalez & Arrambide offer a FREE consultation. We want to make sure you’re both knowledgeable about and ready for tax season!

Don’t stress over questions anymore! Contact the accountants in Weslaco at Gonzalez & Arrambide for a FREE consultation now!

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What Is Positive and Negative Cash Flow and How Does It Affect a Business?

What Is Positive and Negative Cash Flow and How Does It Affect a Business?

As a business owner, it is crucial to understand cash flow and how it can affect your business and your profit. 

We implore you to work with a qualified virtual Chief Financial Officer (vCFO) who can help you determine what practical steps should be taken to reach your business goal. In the world of business finances, a cash flow report can make or break a business, and is one of the reasons your vCFO will be an indispensable part of your team.

Determining the Quality of Your Cash Flow

Cash flow can be either positive or negative. 

When your business account is receiving more cash than it is paying out, you will have a positive cash flow result. This usually means that your company is receiving more money in sales of products or services than it is spending on business expenses or anything else, which results in a good, positive cash flow. The remaining money after business expenses is your profit. 

However, if expenses for payroll, maintenance, rent, and other services are exceeding the flow of money being made, you will start losing money, resulting in negative cash flow.

How Does Your Cash Flow Affect Your Decision Making?

Positive cash flow is the foundation of a solid business. Positive cash flow can pay for expansions in operational capability and help you to recognize when targeted profit goals are within reach. 

However, negative cash flows can also be a necessary part of life for every business, especially during start-up and periods of rapid expansion. Cash flow reporting during these times will help you determine if your business finances will remain strong enough to last until the expected revenue increases finally appear and bring your cash flow back into the positive.

Your cash flow ultimately determines if you have the means to expand, maintain, or upgrade your business.

Planning for Future Growth

Cash Flow Report is an important tool for your vCFO’s; it can be used to determine which investments have the best chance of resulting in future revenue gains without putting the business at risk of bankruptcy.

Your virtual CFO will be an architect designing the profitable business you have always envisioned.

Hiring a vCFO Can Assist in Succeeding in Your Business Plan

The Virtual Chief Financial Officers at Gonzalez and Arrambide, Inc. in Weslaco can help you maintain a profitable cash flow for your business. We strongly suggest learning about cash flow and how it affects your business. 

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What is Cash Flow and How Can a Virtual Chief Financial Officer Help Improve it?

What is Cash Flow and How Can a Virtual Chief Financial Officer Help Improve it?

To run a successful business, you must have a solid cash flow. 

Understanding cash flow is key to prospering as a business owner. A virtual Chief Financial Officer (vCFO) can help you develop your business and triumph. Your vCFO will use several tools and strategies at their disposal, including cash flow reports, amongst other data sources, to create a strategic plan that helps grow your business.

The vCFOs at Gonzalez and Arrambide, Inc., can inform you about the financial information you need to make critical business decisions.

What Is a Cash Flow Report?

In short, cash flow is how much money is coming into your business and how much is going out. A cash flow report will summarize how your business is doing in this regard.

For example, more money coming in than going out will give a positive monthly cash flow result. If this monthly trend continues, you can expect to profit. It is possible to have a good cash flow result at the end of the year even if you were negative some months. 

It’s worth noting, however, that a cash flow report isn’t the same as an income report.

Who Creates a Cash Flow Report?

This report falls under the responsibility of a vCFO since it is per finances. While your accountant creates the income report to help you determine how much tax to pay, your vCFO will create a cash flow report to assist in determining when you are ready to grow your business and increase your future profits.

How Is a Cash Flow Report Used?

A cash flow report is useful for predicting future account balances. These forecasts are what allow strategic plans to be made. Your cash flow report will tell you when your business can operate with the extra costs that come with expanding without breaking the bank. 

By timing your growth correctly, your business will experience increased revenue with minimal risk.

Outsourcing to a Virtual CFO Can Improve Your Business’ Cash Flow

Owning a business can be extremely overwhelming and stressful, but by hiring a virtual Chief Financial Officer in Weslaco, you will be assisted with the financial services your business may need. By reaching out to Gonzalez and Arrambide, Inc., you’ll get the guidance you need to start or grow your business.

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