Bookkeeping, taxes, and more

From concept to cash flow

We work directly with small business owners, from startups getting off the ground to established businesses looking to improve their financial standing.

Our team's experience has depth but also breadth, including food trucks and restaurants, e-commerce, health and fitness, contractors, construction, retail, and professional services.

“I strongly recommend Preceding Point for your business structure and tax needs. Chris is so wonderful to work with and extremely knowledgeable.”

— Alina, K. on Yelp

Services for businesses

Bookkeeping

Organized financial records are vital to running a successful business. As a business owner, your time is best spent working on your business and generating revenue — not organizing expenses and monitoring cash flow. Preceding Point offers bookkeeping services to keep track of income and expenses, organize deductible and non-deductible expenses, and ensure proper cash flow for a sustainable business.

With organized finances comes clarity around the financial health of your business. You'll know the state of your business at-a-glance and be able to pull an up-to-date profit and loss report and balance sheet. Tidy finances also put you in a better position for loan applications, fundraising, selling your business, or other strategic moves.

We set up and customize Xero, our preferred accounting software, which pulls in financial information from your bank accounts, credit cards, and income sources. If you're already using Quickbooks or similar, our team has experience with a variety of accounting applications and is happy to keep you with what you're already using.

Tax planning, preparation, and filing

Every financial decision your business makes should be a tax-conscious decision. Rather than a big surprise come tax time, we put our clients in control of their taxes by keeping taxes top-of-mind all year round.

Our revenue allocation method will guarantee you have money set aside for taxes and avoid having to scramble for money when it's time to file. If your business collects sales tax, we will include that in our strategy and help you file monthly, quarterly, or annually. While preparing to file your income taxes, we will advise on deductible business expenses and identify any opportunities to optimize your tax bill.

Learn more about business tax services

Payroll

Going from a company of one to hiring employees and managing payroll can be a lot to manage as a business owner. We will guide you through the process of getting set up with our preferred payroll provider, Gusto.

We configure the integration with your business bank account and communicate with the Texas Workforce Commission for unemployment taxes. We can help you figure out the best payment schedule for you and your employees, and how much you can afford to pay employees based on current cash flow. Whether you're a company of one or one dozen, using a proper payroll service ensures proper withholding of income taxes and social security from your paychecks.

Business formation

We work with a variety of entrepreneurs, freelancers, and other independent workers. We can help you decide whether or not a formal business entity is right for your specific situation. Determining factors include evaluating liability, your desired level of formality, and any potential tax advantages.

Most often, we help business owners establish a limited liability company (LLC), partnership, or S-Corporation. The S-Corp election can offset self-employment taxes for income tax savings. Once you have selected your business type, we will file all paperwork with the state of Texas and obtain a Federal Employer Identification Number (EIN) for your business. As you embark on your journey as a business owner, Preceding Point can interface with the IRS and help you identify when your company will need to file taxes — whether it's monthly, quarterly, or annually.