Tag: accounting in dallas

NexGen nominated for 2016 North Dallas Chamber of Commerce Business of Year

Posted on by Bryan Polozola

NexGen Finance Solutions is proud and honored to announce that we were nominated for the 2016 North Dallas Chamber of Commerce Business of the Year Award in the Accounting and Finance division. This was the third time in 2016 that NexGen Finance has been honored with an award or nomination, winning the Best Businesses of Dallas Award and the Best of Plano Award in 2016!

About the North Dallas Chamber of Commerce Business of the Year Award

The award is given to companies that exhibit industry-leading expertise in their field, proving to be a valuable asset to the North Dallas community and improving quality of life for local residents. The award is set apart from other similar awards in that it centers around quality of service, not quantity. The program strives to honor businesses that are excelling in creating a lasting impact on the Dalals community by meeting long term goals, implementing best practices, and serving the community and their clients. Data is collected both internally by the North Dallas Chamber of Commerce and then externally as provided by third parties in order to determine the winners in each category.

Thank You for Your Loyal Support

At NexGen Finance Solutions, we recognize that our success is only a reflection of the clients we serve. We thank you for trusting your outsourced accounting and finance needs to our company and letting us prove our expertise and loyalty to you and the Plano community.

If you are still considering outsourcing your accounting and finance needs, contact Bryan Polozola at NexGen Finance Solutions today by calling 214-629-0100 or email him at bryan@nexgenfinance.com. We look forward to serving you and showing you why we truly are the best of Plano and Dallas when it comes to addressing your accounting and financial needs. NexGen Finance Solutions proudly serves the greater Dallas community, including Plano, Richardson, Allen, McKinney, Dallas, Frisco, and other surrounding communities.

Are you ready to meet YOUR new finance team?!

5 Benefits of outsourcing your finance needs

Posted on by Bryan Polozola

What are the benefits of outsourcing your CFO/Controller or other finance needs?  Click and find out.

 

 

Outsourcing Your Business’s Controller Services

Posted on by Bryan Polozola

When starting and maintaining a small business it can be difficult to keep up with its financial needs. Accounting is not a job suited for everybody. It is important to make sure a professional is handling your business’s finances to ensure your money is being used accurately and efficiently. Outsourcing a controller to manage your finance needs saves you time and keeps you from unwanted stress.

At NexGen Finance Solutions, located in the Dallas-Fort Worth Metroplex, our controllers have the experience and education to serve you and manage your finances well. They will manage all aspects of the accounting process to ensure accuracy and completeness. This provides you with more time to better use towards other areas of your business and allows you to cut down on costs.

When outsourcing your controller services you do not need to worry about keeping up with staff. If you did not outsource your controller, you would need a plan in place for instances where your staffed controller may be sick or gone on vacation. When you outsource a controller, you do not need to concern yourself with training or hiring staff to take over. We already have a seamless plan in place to ensure your financial needs are still met.

Our controllers work to build policies and procedures specific to your business to allow for financial growth. These policies and procedures are implemented to catch omissions, fraud, and errors. Our controllers will work with all departments within your business to ensure that everyone is aware of the policies and sticks to them. This allows for less complicated reporting.

We are excited to share our professional and experienced controllers with you as we assist you with your financial needs. Contact Bryan Polozola today by calling 214-629-0100 or email him at bryan@nexgenfinance.com to receive more information about our controller services.

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Are you ready to meet YOUR new controller?

5 Ways for Small Business Owners to Avoid Taxes

Posted on by Bryan Polozola

 

Tax season is drawing to a close, but it is never too early to begin thinking about next year’s tax filing. Proper tax planning is an ongoing effort, requiring diligence throughout the year to maximize tax benefits.

 

Now that tax season is ending, apply these tips to your small business to help reduce your tax burden in the coming year:

 

  1. Optimize Tax Elections

 

Consider company assets such as machinery, equipment, company vehicles, etc. and where they fit into your overall tax plan. For example, major purchases such as these can be written off in full up to a set dollar amount, but it may not be optimal to do so. If your company is just starting out, it may be wise to use depreciation now and save the deductions for the future.

 

  1. Track Your Carryovers

 

Carryovers are tax credits and deductions that cannot be fully used in the current year, but can be carried over and used for future years. Some of these carryovers may include general business credits, charitable contribution deductions, capital losses, and net operating losses.

 

  1. Know Your Adjusted Gross Income

 

Adjusted gross income (AGI), or modified adjusted gross income, is the benchmark that determines your tax breaks and tax liabilities. Lowering your AGI may provide additional tax incentives.

 

  1. Accountable Plans are a Must

 

With an IRS approved accountable plan, all employee reimbursements are company expenses, not employee income. If your small business in Dallas has employees that are reimbursed for travel, entertaining, personal expenses, etc., then using an IRS approved accountable plan is a must to avoid additional employment taxes.

 

  1. Take Tax Free Income from your Business

 

We are in no way advocating illegal activity, but rather using your business to your advantage. You may give yourself a loan through your business or set up a retirement plan, funneling income through tax-free channels. These fringe benefits are important ways to minimize your tax burden when tax time rolls around.

 

Interested in putting together a comprehensive tax plan for the year ahead? Give Bryan Polozola at NexGen Finance Solutions a call today at 214.629-010. Our team is expertly trained in all of your finance and accounting needs, with many years of experience in tax preparation, tax law, financial planning, and more.

Are you ready to meet YOUR new finance team?

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