Thomas J. Trumeter, CPA strives to make each client’s investment in accounting services be just that—an investment that pays for itself, not just another overhead expense. Of course, the firm’s goal is to reduce taxes. However,iIn the business of finance, accountants should be more than tax preparers and scorekeepers, and produce results that improve your bottom line. Below are some examples of work that produced some notable results for clients.
A professional service company outsourced all of its bookkeeping. Thomas J. Trumeter, CPA showed the company how to bring these tasks in house and perform them accurately, in a minimal amount of time per month. The company saved nearly $1,800 per year.
- A very profitable E-commerce company grew to over $4 million in revenues and performed its accounting on a system set up by Thomas J. Trumeter, CPA. For the first four years of operations, the company’s personnel performed all the company’s bookkeeping in addition to their other tasks. A full-time bookkeeper was not hired until the company’s fifth year of operations, when the complexity of the company demanded the addition of a bookkeeper. During the first four years, Thomas J. Trumeter, CPA performed only a quarterly review of the company’s records. The savings to the company was substantial for the first years when the company desparately needed to conserve working capital.
- An $18 million distributor of grocery products was realizing a year over year decline in sales due to market saturation and a weak economy. Thomas J. Trumeter, CPA performed a complete financial analysis of the company’s operations. With this information, the company ceased certain operations and reduced costs in the remaining segments. The company was able to return to profitability with this revised cost structure.
- A food processor received a $187,500 loan to grant under a county block grant program in Western New York. Thomas J. Trumeter, CPA computed a monthly break even point as a target for the company to achieve. When the company was no longer able to expand its revenues, it cut certain nonessential costs to increase profitability. The company received an additional $60,000 Microbusiness loan from the county. The county paid all of Thomas J. Trumeter, CPA fees in connection with the Microbusiness Loan. When the company achieves a predetermined job creation goal, the $187K loan will be forgiven.
Thomas J. Trumeter, CPA has shown individual investors how to double a portfolio value within a five to seven year timeframe with below average risk. The methods utilize a combination of very reliable technical and fundamental analysis.
Numerous companies and individuals have received penalty assessments from various tax authorities, for one reason or another. Thomas J. Trumeter CPA became involved in these disputes and has gone the distance for these companies to have the penalties and assessments reversed.
- A taxpayer was assessed several thousand dollars in sales taxes arising from a former husband’s business. The taxpayer was an innocent spouse and was not responsible for these taxes whatsoever. As a result of a conciliation conference, the entire assessment was reversed and the taxpayer owed nothing.
- Another taxpayer, a business, had fallen behind in its filing its payroll tax returns and paying its tax liabilities amounting to over $80,000. The Internal Revenue Service is especially aggressive in collecting past due payroll taxes because these taxes are viewed as “trust fund” money i.e. money held for others. Thomas J. Trumeter, CPA worked tirelessly with the company and the IRS, through numerous IRS levies and seizure attempts. The company eventually paid the taxes in full, and remains open to conduct business.
