We are M&N Income Tax Service, in Charlotte NC.

Business Improvement Services

Overview

Business owners do not always have the luxury of having a strategic planning department. Management responsibilities, sales and daily operations consume the majority of an owner’s day.

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We can provide clarity and empower owners to make the changes necessary to succeed.

Key Performance INDICATORS (KPIs)

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KPIs vary for each type of business.

We can help you develop KPIs most relevant to your business, formulate them into a dashboard and review them with you on a regular basis. Our CPAs can also provide you with comparative data based on their extensive experience with other businesses as well as other industry sources.

Sale Forecasting

In the beginning, your sales forecast was based on market research, your sales and marketing plan and your best estimates based on experience in your industry.

Even the best start-up sales forecasts need to be reworked in light of new information you’ve learned from actual operating performance. Because our CPAs advise many small businesses, we have extensive experience with sales forecasts and can perform a periodic checkup to see whether your sales forecast is realistic in light of your specific circumstances.

Gross Profit Margin

Amid frequently changing costs and the pressure to make sales, many small business owners find it difficult to keep track of whether they are maintaining adequate profit margins to sustain their business.

We can help you calculate and track gross margins by product or service, by customer (or group of customers), or by job.

If you’re a small business owner, you don’t have the luxury of a strategic planning department, and day-to-day operations take up most of your time. We can serve as your strategy advisor, helping you break down your strategy into measurable goals, while regularly monitoring progress.

Accounts receivable

Accounts receivable can be difficult to forecast until you have enough history to identify trends. Our team has access to trend and benchmark data for other businesses similar to yours and can help you forecast seasonal fluctuations and compare your A/R performance to industry benchmarks. We can also help you identify needed adjustments to your credit and collection policies.

Cash Flow Forescasting

Cash flow management makes the difference between success and failure for most businesses. We can help you answer the questions: What will our cash balance look like during our slow season? Will we need to borrow to cover shortfalls? Do we have a large enough line of credit?

Account Payable

Sometimes an accounts payable problem arises suddenly. But more often problems develop over time and can be corrected before they become crises. We can review your accounts payable and help you develop a plan to resolve payment issues and prevent them from occurring.

Inventory

For many businesses, inventory is a major draw on operating capital and cash flow. If your business has seasonal fluctuations, inventory forecasting can be difficult. We can help you forecast your inventory needs and evaluate inventory financing options from suppliers, local banks and commercial lenders.

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Banking Loan Packages

Most lenders include certain loan covenants in their lending agreements such as a requirement to maintain certain types of insurance coverage, to meet a certain debt to income ratio and so on. Failure to maintain these requirements could result in penalties or even worse — having your loan called. We can help you develop a scorecard to monitor and stress-test your loan covenants in light of your financial forecasts. If a loan covenant breach is likely, your CPA can help you develop a plan to bring your business back into compliance or to renegotiate covenant requirements with the lender.

Payroll

For most businesses, payroll is a major expense. We can help you locate industry benchmarks and develop a scorecard for you to monitor. We can also provide an objective checkup on your health care expenses, retirement plan and other employee benefits.
By identifying your company’s KPIs, we can focus on the drivers of improvements.

We help you develop custom KPI reports, embed them into a dashboard, and discuss performance with you to keep you operating as designed.

Our CPAs can also provide you with comparative data based on their extensive experience with other companies, as well as other industry services.

Our comprehensive services offer small and medium-sized businesses access to a full team of business advisors at a fraction of the cost.

Business advisory services

  • Evaluation of Legal and Tax Structure of Companies
  • Business startup consultation and best practices
  • Business valuation calculations
  • Accounting Technologies and Software Implementation
  • Succession plan
  • Business Improvement Projects
  • Improved sales growth
  • Improvement of benefits
  • Cash Enhancement
  • Debt management
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Testimonials

Very Professionals and excellent service.

SUNNY BEAUTY SALON

Accurate service and professionals people.

Emir Designer

They are amazing accounters.

Jose Manuel Boccio

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Get Started For  Free

info@mnincometaxservice.com

(347) 431-6383 / 615-9694.

2767 Webster Av, Bronx, NY 10458

Open Mon-Sat from 9:00 am-6:30 pm

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