Case Studies

CASE STUDY TWO

Helping A Growing Digital Marketing Agency

This full-service digital marketing company had been in business for more than five years. Their growth in the last two years had been significant and the owner recognized the need for professional help in creating meaningful financials and internal bookkeeping processes. He also wanted some advice on how to create a benefit package that would help retain key team members.

Minton CPAs were able to help him analyze the key financial metrics for his business and create internal operating and bookkeeping systems to regularly monitor these. This data was easily transferred to monthly reports that gave the management team an accurate snapshot of the health of the business.

By introducing the owner to two members of the Minton Professional Advisory team who were able to design a combination of benefits based on the needs and desires of the team

CASE STUDY THREE

Assisting A Client in the Purchase of a New Business

One of our client’s was looking to acquire another business, but the accounting records of the target business were weak and incomplete. In cooperation with the buyer’s attorney, we requested the right to perform a forensic audit of the business. The alternative was a large offset in the sales price, so the seller agreed.

We found that inventory had been significantly overstated and several long-term liabilities not included on the balance sheet. Armed with this data our client was able to acquire the business for more than $200,000 less than originally intended.

CASE STUDY FOUR

Helping A Client Navigate PPP Loan Forgiveness Regulations

A company in the printing business was significantly impacted by Covid as a large share of their product mix was producing menus for restaurants across the US. To try and keep the business open and retain as many employees as possible they used the government’s PPP and other programs that were part of the stimulus package.

Accessing these funds was critical to the business, but the use and repayment guidelines were changing rapidly, and the client’s bank acknowledged they were not able to keep up and suggested they seek help elsewhere.

Upon consulting with Minton CPA and Associates we immediately began working with their payroll company, bank, and the SBA. Since proper documentation and compliance was incumbent on the company and not the bank, it was imperative that we work closely to make certain that this new client’s records were accurately maintained.

Helping this company gain access to funds that were instrumental to their ability to stay in business, but also assisting them in getting 100% forgiveness of these loans, was an extremely satisfying result for our team. As the economy opens up again this company is now back on a solid foundation.

CASE STUDY FIVE

Real Estate  Agent.

Agent had been misguided on auto deductions, taking maximum write off in current year and minimizing write offs in future years and recapture of depreciation.  Tax preparer was not educated in the profession of real estate and all of the exceptions and allowable write offs that are unique to this profession. Failure to recognize these unique rules, particularly as they affect investing strategies can result
in tax liabilities increasing instead of reducing as provided in the tax code.  This can cost anywhere from $20,000 to hundreds of thousands of dollars depending upon the uniqueness of their strategies, goals, and income levels. Minton CPAs are experts in helping real estate agents and investors minimize their tax liability by utilizing every allowable provision of the tax code.