The CFO for Small BusinessWhat we do for a small business, and what needs a licensed firm
You're looking for what a CFO for small business owners does, and just as much for what falls outside that work. Steven Palmieri, a Tax CFO, holds no CPA license. Examining statements, whether by audit, review or compilation, is not something we do, and no signed report on anyone's statements leaves this practice. The rest of this page lays out what we do instead and where to turn when you need the other kind of work.
Sort out which firm
What we do for a small business
We keep your books and close them every month. Each month's closed books become a set of statements you can hand to a lender. We prepare your business return and your personal return from the same file. We plan your pay and your estimates with the year in view. We prepare your personal financial statement with you, from your own records, and you sign it. Payday itself belongs to a payroll company that you choose and run. We set the pieces up properly, then read the filings the provider makes.
A statement we prepare carries a short note that no report was issued on it. That's an honest label, and it keeps anyone from mistaking it for something else.
When a lender, landlord or contract asks for more
Occasionally a bank, a landlord or a contract requires statements that an outside firm has examined. These come in a few flavors, and the words to listen for are audited, reviewed and compiled. Each one involves a signed report from a firm licensed to give it.
That's work for a licensed CPA firm. We can't sign it and we won't imitate it. What we can do is hand that firm a set of books that are closed, matched and organized, which usually shortens its work. If your request calls for one, we'll tell you plainly, and we won't bill you for the pointer.
A letter from the IRS
We can help you read a notice, gather the records it asks about and put together an answer. Acting for you before the IRS is another thing entirely. Enrolled agents, CPAs and attorneys are the people authorized for that, and we're happy to help you find one.
Payroll
We don't process payroll. A full-service provider handles payday and you run it. We set it up so owner pay is correct and the books receive the numbers, and afterward we check the filings.
Personal credit
Personal credit work isn't offered on this site. If your credit worries you, a nonprofit credit counselor is a reasonable place to start. What we do help with is the business side of money, including the form a lender asks you to fill in, which is covered on the personal financial statement page.
How to tell which one you need
Ask whoever is making the request for the exact words. If they say prepared or internal statements, or they just want your numbers, we can usually help. If they say audited, reviewed or compiled, or they say they need a signed report, that is a licensed firm. When even they are unsure, bring the request along to the free call and we'll sort it out together.
Most small business owners are never asked for a signed report. They need clear books, planned taxes and a lender's form that matches their records. The questions page answers more.
Not sure what your lender or landlord is asking for?
You will be talking to the Steven Palmieri practice.