Hospitality

Typical Client

  • Hotels, restaurants and nightclubs.
  • They may be independent or a franchisee.
  • The owners may have hired management companies to take care of day-to-day operations.
  • They spend only limited resources in accounting and financial reporting.

Hot Issues

  • Choice of business entities – This has tax impact on income generated by these professionals. Each case might be slightly different but whether they should carry on business as a proprietor, partnership or corporation.
  • Tax, profit distribution and retirement planning.
  • Succession planning
  • Proper system for inventory control, billing and receivable, and financial reporting.
  • Various employment related issues

Services

In order to address the needs of our clients in this field, these are some of the services that we offer to them:

  • Tax planning on choice of business entities to minimize the tax bite.
  • Setting up or reviewing financial infrastructure to make sure that the clients have enough controls and procedures in place for proper recording of transactions.
  • Our Remote Review service usually fits well with clients who just starts their practices or have an in-house bookkeeper to handle the daily transactions.
  • Our Controller Service is ideal for those who have a few professionals and we can take care of all the books and records including billing and collection. In this case, usually the professionals are more interested in spending their time to grow their practice and they want to leave the books and records to someone like us that they can trust.
  • We also offer other outsourcing service like human resources outsourcing, stock administration and etc.

Intested in our service?

We provide 1 hour consultations to our clients in the Bay Area free of charge. Contact us today.

Information Request