For Small Businesses

ESTABLISH GREATER PROFITABILITY AND BUSINESS EFFICIENCY!

Your business’ profitability and operational efficiency are at the center of your business’ success!
Our experience, resources, and attention to detail make our accounting services second-to-none. As an experienced accounting team, we look forward to the opportunity to help transform your business’ financials as we work with you to establish short- and long-term strategies for growth and profitability.

 

Working with us and enlisting our business services could make all the difference!

Whether you need help starting a business, cleaning up your bookkeeping, setting up QuickBooks, handling payroll, or you crave some much-needed business coaching or other strategic consulting, we have been doing this for years, and stay on top of all of the new regulations to help you take the most advantage possible. Legally, and ethically — and profitably.

We work with our clients in a relational way to help them experience the financial success they desire — whether the business is just an idea, relatively new, or a well-established entity. Whether small, large, or in need of some special attention, we have the experience you need so that you can focus on what your business does best.

Frank Gutta & Co. CPA’s, P.A. secures a woman and children’s financial future

One of our clients referred a lady who needed help with planning her retirement. She was a schoolteacher, and was retiring in 6 months. Her late husband had taken care of all of the financial affairs before his death. When he met with her the first things that were discussed were her goals and objectives. She told us that she was retiring in six months. She wanted to travel a lot, now that she was alone. She wanted to spend time with her grandkids. She wanted to pay off her son’s mortgage, and not worry about money. She also wanted some asset protection and did not want to be involved in the ups and downs of the stock market. She also did not want to burden her kids to have to take care of her if she became ill or disabled and wanted to leave some money for her kids when she passes on. We reviewed her portfolio. Most of what she had was in bonds and money market funds with very low returns. Next we did an analysis of her cash flow needs by going through her expenses and income. We also prepared a balance sheet to get a picture of what she owns and owes as of the current date. We were able to accomplish all her goals in a safe secure way. We were also able to provide her with long-term care if needed it and an extra $1500.00 a month over and above what she needed while leaving enough cash liquidity in case of an emergency. A few weeks later she called us up and told us that she feels secure knowing that she is getting her checks every month, for the rest of her life without having to worry about the market volatility. That is the type of thing we do for people that are concerned about running out of money or afraid of the stock market.

Frank Gutta & Co. CPA’s, P.A. makes a $27,800 difference “attending to the details.”

J.S., a foreign national who worked for an international company had her taxes prepared by one of the largest international CPA firms in the world. She worked overseas and then migrated to the United States in 2010. On the tax deadline, she got an email from the firm saying that she owed about $26,000 in taxes. Obviously shocked, she sought a second opinion from our firm. We offered to review her tax returns and found that they had erroneously included her foreign income while she was a non-resident of the U.S. therefore, she was not liable to pay U.S. tax on her foreign income which resulted in her getting a refund of $1800.00 instead of $26,000 liability. She was absolutely delighted. There were basic questions that her former international well-known CPA firm did not think of asking. They just assumed that the money was taxable.

Frank Gutta & Co. CPA’s, P.A. saves a widow $175,000 in taxes she did not owe!

A lady moved to our area from Connecticut after selling her business. She had a firm in Boca prepare her tax return. They told her that she owed about $175,000.00 in capital gains tax. She was referred to us by one of our clients for a second opinion. We reviewed their tax return and it appeared to be accurate. However, after we started asking her questions, she told us that her husband who passed away last year had started the business 30 years ago- this was the clue. When somebody dies, they get a step up in basis. Meaning the value of the property that was used to calculate the gain on the sales is the value at the date of death instead of the actual cost of the property when they bought it 30 years ago. So the value on the date of sale and date of death was about the same resulting in no gain for tax purposes. She was absolutely delighted to find out that she did not owe any tax. There are some simple questions that you have to ask. When you go through a person’s tax return, the numbers might look correct, but you want to look behind it. Which could make a big difference!

A Small Business Growth Strategy for Fort Lauderdale Business Owners

We really loved watching the Olympic games the past few weeks. There was so much to see, be inspired by, and even something to learn about growing a small business.Yep, you read that right. Hear me out…It’s so hard to appreciate the amount of training and work that...

A Financial Systems Check-Up For Your Fort Lauderdale  Business

Your Fort Lauderdale business obviously makes and spends money. The pluses and minuses add up (you hope) to being able to stay in business, and a look at the books tells you if your Fort Lauderdale business is doing okay or headed for trouble.What are your books...

Frank Gutta’s Insights on Reducing Business Expenses

No matter how far around the block customers are waiting, in business, only one line counts.The bottom one.That’s why reducing business expenses is critical.Getting a grip on the costs of doing business brings you benefits both short- and long-term. “Cost controls”...

Frank Gutta’s Business Negotiation Skills FTW

Alright Fort Lauderdale business owners, we’re going to move aside from tax-related things today (though there will be PLENTY to talk about as Congressional plans unfold) ... and circle back into the nitty-gritty of how business works and share with you some business...

Frank Gutta’s Insights on Financial Planning for Business Owners

Last weekin the start of my series on financial planning for business owners, I got a little carried away by all of the talk of "independence." So, I took the opportunity to ask you a simple question:Are you achieving the independence you want in your business?But...

Thoughts on How Fort Lauderdale Business Owners Can Achieve Business Solvency

With our nation celebrating its 245th birthday on Sunday, and all of this talk about "independence" flying around, I have a question for you -- one that I think you should think hard about:Are you achieving the independence you wanted in your business?As you know,...

Frank Gutta’s Tips for Creating a Business Disaster Plan

The past year and a half has been stressful for everybody in Fort Lauderdale. And I would argue it’s been doubly so for Fort Lauderdale business owners.The thing is though, these things happen. Quite regularly. Maybe not global pandemics, but disasters in general.So,...

Frank Gutta’s Tips for How to Raise Your Prices Properly

Did you hear the news from last week’s inflation report?Consumer prices increased more than 5% between May 2020 and May 2021.Given the Federal Reserve’s 2% inflation target, that’s a pretty steep increase.Have you taken a look at your own cost of doing business...

Frank Gutta’s Tips for Building a Business Emergency Fund

Pretty sure I've said this before.I'll likely say it again, too.If there’s one thing the past year has taught business owners, it’s that the "unexpected" can occur at any time.Managing your Fort Lauderdale business during good times is hard enough; rough times make it...

How To Digitize Your Business by Frank Gutta

It seems as if the world is getting drenched in tech. It’s literally falling from the sky (we’re looking at you, rocket boosters).Because there is so much technology around us, it can be easy to become numb to it. We can quickly start to view it as just a “thing”...

How You’re Missing Legal Tax Deductions

Here’s a certain truth: the State and Federal Government would love to have more of your hard-earned money in their accounts. Sure, even though it’s painful, none of us begrudge paying our legal and fair share of taxes.

But the problem is that regular taxpayers, like you, are missing out on legal and safe deductions, to the tune of hundreds of millions of dollars in unclaimed refunds every year!