Back to top

Services

Essential Financial Management, LLC provides a wide range of services to individuals and businesses in a variety of industries. We strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:

Tax Preparation and Tax Management

At Essential Financial Management, LLC, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.

 

Accounting Services

From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Essential Financial Management, LLC's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.

These services include but are not limited to:

  • General ledger and financial statement preparation
  • Bookkeeping (Monthly, quarterly, or annual)
  • Accounting system setup and support
  • Payroll processing
  • Cash flow budgeting and forecasting
  • Personal financial statements
  • Employee benefit and profit-sharing plans
  • Corporate tax planning and return preparation
  • Litigation support
 

IRS Representation

Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.

 

Entity Selection and Restructuring

Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Essential Financial Management, LLC can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.

 

Bookkeeping/Write-up

Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Essential Financial Management, LLC can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

 

QuickBooks Accounting Help and Assistance

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product, set it up correctly, and use it properly. We are Certified QuickBooks Pro Advisors and we don't just help you use the software, we help you use it more efficiently and more effectively.

Essential Financial Management, LLC offers the following solutions to help meet your QuickBooks needs:

Personal Training

We train you personally! Either one-on-one or several individuals within your organization at your company's location.

Installation

We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode.

Setup

We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.

Support

Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.

Review

Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.

 

Payroll Services

Essential Financial Management, LLC's payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax returns.

 

Cash Flow and Budgeting Analysis

Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Essential Financial Management, LLC can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.

 

Financial Projections and Forecasts

No one can predict the future perfectly, but we can all benefit from planning for it. Essential Financial Management, LLC combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.

 

Mergers, Acquisitions, and Sales

Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Essential Financial Management, LLC can provide professional know-how to help you successfully structure and negotiate the deal. Essential Financial Management, LLC employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.

 

Debt and Finance Advising

Whether your needs are corporate or personal, Essential Financial Management, LLC's professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.

 

Information Request for Services Listed Above

News

TAS Success Story: TAS Resolves A Tale of Two Investment Claims

November 23, 2022  –  Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This success […] The post TAS Success Story: TAS Resolves A Tale of Two Investment ...

NTA Blog: Giving Thanks, Giving Tuesday (November 29): Tax Benefits and Charitable Contributions

November 22, 2022 – On Thanksgiving, together with my family, I will pause, reflect, and give thanks for the good […] The post NTA Blog: Giving Thanks, Giving Tuesday (November 29): Tax Benefits an...

Tax Pros: Renew your PTIN by Dec. 31, 2022

If you prepare or help prepare federal tax returns for compensation, you must have a valid Preparer Tax Identification Number […] The post Tax Pros: Renew your PTIN by Dec. 31, 2022 appeared first ...

NTA Blog: Update on IRS Progress in Working Through Its Backlog of Paper-Filed Tax Returns and Correspondence (Part Three)

November 10, 2022 -This is Part Three of a blog series on IRS Processing and my recent experience at the […] The post NTA Blog: Update on IRS Progress in Working Through Its Backlog of Paper-Filed ...

NTA Blog: My Recent Kansas City Campus Experience (Part Two)

November 2, 2022 – As discussed in Part One, I, together with several other IRS executives, had the honor to […] The post NTA Blog: My Recent Kansas City Campus Experience (Part Two) appeared first...

NTA Blog: My Recent Kansas City Campus Experience (Part One)

November 1, 2022 – Earlier this month, I spent a week at the IRS campus in Kansas City helping campus […] The post NTA Blog: My Recent Kansas City Campus Experience (Part One) appeared first on Tax...

TAS Tax Tip: File Your 2021 Tax Return to Claim Certain Credits Before Time Runs Out to Use IRS Free File Options!

October 28, 2022 – The Taxpayer Advocate Service shares information to help taxpayers claim credits on their 2021 tax returns. […] The post TAS Tax Tip: File Your 2021 Tax Return to Claim Certain C...

TAS Tax Tip: Tax resources for individuals filing a federal income tax return for the first time

October 27, 2022 – The Taxpayer Advocate Service shares information to help first-time filers meet their federal tax obligations. Every […] The post TAS Tax Tip: Tax resources for individuals filin...

TAS Tax Tip: Did IRS adjust your charitable contribution deduction?

October 26, 2022 – The Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted March 27, 2020, permits taxpayers to […] The post TAS Tax Tip: Did IRS adjust your charitable contribution ...

TAS Tax Tip: Feel like you are not responsible for a debt owed by your spouse or ex-spouse?

October 17, 2022 – If you file jointly and your spouse has a debt (this can be a federal, state […] The post TAS Tax Tip: Feel like you are not responsible for a debt owed by your spouse or ex-spou...