The service includes:

• Compilations: Every business has three different groups interested in their financials: their stockholders, their creditors and their private investors. We understand that each group has their own risk tolerance level, so we provide compilations that are appropriate for each.
• Cash Flow Management:  The best way to avoid a financial crisis within your business is to have a constant understanding of your cash flow. We will provide a cash flow projection that lets you understand exactly where you stand at all times.
• Bank Financing:  A properly organized and prepared loan application sends lenders a message of stability. We help you put together winning applications.
• Business Valuation:  When trying to determine the value of a business, having an objective, experienced professional on your side is essential. We provide clear-eyed, informed evaluations to help you make the right decision.
• Strategic Business Planning:  Translating your goals from a series of internal conversations to a strategic plan that can be acted upon requires experience. We can help you with that.
• Succession Planning:  One of the most difficult aspects of running a family business is putting a succession plan into place, but it is essential to the continued success of the organization.
• New Business Formation:  The thrill of starting a new business can quickly be replaced by the realities of day-to-day organizational needs.  We provide the management tools you need to succeed.
• Non-Profit Organizations:  Maintaining tax-exempt status is essential for non-profit organizations, and requires specific compliance with IRS regulations.
• Internal Controls:  Maintaining peak efficiency within your organization requires frequent reviews and reassessment of your internal controls. We provide an objective eye, as well as recommendations.
• Small Business Accounting:  You went into business to do what you love, not to do bookkeeping and accounting. We provide accurate, essential services so you are free to do what you do best.

Maintaining a positive cash flow provides a number of benefits, including positive relationships with your creditors and lenders and your own peace of mind.

Wouldn’t it be nice if running a business was nothing but money coming in? Every business has creditors and expenses, and positive cash flow isn’t always a given. Finding yourself with more cash flowing out of your business than flowing in causes more than stress – it can result in angry creditors and suppliers and the potential for your business to fail.

If you’ve ever found yourself in a position where you’ve had to borrow money in order to make payroll, then you need Drimi Business Group’s cash flow management service. With our help you will have a better understanding of your cash needs and the various sources available to you for meeting them. Maintaining a positive cash flow provides a number of benefits, including positive relationships with your creditors and lenders, and we make that possible by developing both short term and long term cash flow projections to help you to anticipate cash needs from week to week and as long as five years into the future.

Maintaining positive cash flow and preventing shortfall crises is largely a matter of understanding where the money is going and where it has gone in the past, so in addition to preparing projections we’ll look back and prepare historical statements from which you can learn. In addition to that, we’ll help you with all the pieces that can improve your cash flow, including obtaining reliable and reputable lines of credit, accelerating your cash collection techniques and putting effective policies into place, creating a payment schedule and policy that works for your business, and making the most of your idle cash.

Our evaluation will include:

• Segregation of Duties: Dividing responsibilities among various individuals to minimize the risk of errors or inappropriate actions, preventing any single person from controlling financial transactions.
• Approval Hierarchy: Establishing a clear approval process for transactions to ensure funds are available and expenditures align with company policies.
• Routine Reviews: Implementing a system for regular review of financial transaction records by someone different from the initial processor to ensure accuracy and integrity.
• Employee Training and Handbooks: Developing comprehensive training programs and handbooks that detail job descriptions, responsibilities, and procedures for addressing misconduct. We will also review staffing and supervision to ensure effective direction and oversight.
• Documented Policies and Procedures: Ensuring that all policies and procedures are well-documented and accessible to employees, including guidance for coverage during extended absences or job vacancies.
• Operational Assessment: Evaluating operations to ensure they are conducted properly and align with the company’s goals.

By partnering with Drimi Business Group, you can ensure that your internal controls are robust, your operations are efficient, and your resources are well-protected.

Owning and operating your own business is a dream for many aspiring entrepreneurs, but the reality of running a business can quickly squash the initial thrill.

Making sure that you are well equipped to manage all aspects of running a business is the key to success, while failure to do so is a recipe for disaster. Our new business formation services will provide you with a strategy that will give you a plan for the future that lays out a long view, providing a methodical approach that protects your dream and avoids the mistakes that many make.

Drimi Business Group will provide you with an initial business plan that will provide you with an approach to marketing, financial planning and management. We will help you assess your initial capital requirements and sources from which you can get it. We’ll also help you determine how much you will be qualified to borrow for your business. We’ll look at the different types of business structure, evaluating each in terms of your legal exposure, their tax advantages, and how easily you will be able to operate in order to find the one that works best for you. We’ll also help you plan for relocation if necessary.

From a business services perspective we’ll help you choose an accounting software package that is appropriate for your needs, including your budget and your hardware, and will create a cash flow budget to help you anticipate your needs as you go through your business’ first few years of growth. We’ll help you create a billing system and collection policies and procedures that will facilitate cash flow, and help you create a budget and procedures to help you stick to it. If you plan on operating out of a home office we’ll show you the best way to do so in order to give you the maximum tax advantage.

There are so many documents and applications required to establish a new business, and we’ll help you with all of those, too. We’ll provide you with help in the process of applying for all appropriate state and local permits and licenses, as well as your Federal Employer Identification Number. We’ll assess your business’ insurance needs, and when you hire your first employee we’ll take care of setting up your payroll and payroll tax filing, making sure that you comply with all employment laws. If your business is a partnership, we’ll help you create a Partnership Agreement that provides all involved with the appropriate protections and anticipates and heads off potential problems in the future.

We bring the expertise and insights of a CFO at a fraction of the cost, helping you navigate complex financial landscapes and make informed decisions that drive growth. With our Fractional CFO services, you gain access to:

• Strategic Financial Planning: We help you develop and implement long-term financial strategies that align with your business goals.
• Cash Flow Management: Ensure your business has the necessary liquidity to operate smoothly and seize growth opportunities.
• Profitability Analysis: Identify and focus on the most profitable areas of your business while eliminating inefficiencies.
• Risk Management: Proactively identify financial risks and develop strategies to mitigate them, safeguarding your business’s future.
• Scalable Expertise: Whether you’re a start-up or an established company, our services scale with your business needs.

Partner with Drimi Business Group and let our Fractional CFOs provide the financial leadership your business needs to thrive.

Managing payroll is about ensuring accuracy, compliance, and employee satisfaction. At Drimi Business Group, we understand the complexities of payroll and how crucial it is for the smooth operation of your business. Our comprehensive payroll services are designed to relieve you of the administrative burden, allowing you to focus on growing your business. With our expertise, you can rest easy knowing your payroll is handled with precision and care. We ensure every payroll cycle is accurate and fully compliant with the latest tax laws and regulations, reducing the risk of costly errors and penalties.

By allowing us to handle payroll, you free up valuable time and resources, enabling your team to concentrate on core business activities. Timely and accurate payroll processing keeps your employees happy and motivated, fostering a positive work environment. We use advanced technology to protect your sensitive payroll data, ensuring it is secure and confidential. Our services grow with your business, adapting to your needs whether you’re managing a small team or a large workforce. Let Drimi Business Group take the hassle out of payroll, so you can focus on what you do best – running your business.

When you started your business, you didn’t anticipate spending your time on reconciling your bank account and working with your general ledger – you wanted to pursue what you do best and generate profits.

Drimi Business Group understands that it is more important for you to focus on business success than on accounting, and that’s why we offer small business accounting services. We take care of the bookkeeping so that you don’t have to.

Whether you prefer that the work is done on a monthly or quarterly basis, we’ll reconcile your bank account, generate an income statement, clean up your general ledger, and generate a balance sheet. Maybe most important of all, when you use our services we will be there to answer all of the questions you have, making sure that your business has a solid foundation and accurate accounting system in place. If you have special areas or services that you want us to provide, whether payroll, tax preparation or planning or anything else, we can customize your package of services and add them on as you wish.

Bank Reconciliation: Bank reconciliation ensures that all of your important records are up-to-date and in sync with each other. By carefully reviewing your business checking account and comparing it to your accounting and tax information, we’re able to help you:

• Identify missing checks and deposits and discover unauthorized wire transactions.
• Spot bank charges which may be unjustified or excessive and prevent them from happening in the future.
• Make sure transactions are posted correctly.
• Protect yourself from the risk of funds being embezzled as well as unauthorized or forged checks or other fraudulent activity. Constant analysis and oversight can transfer responsibility and risk to the bank.
• Have a clear picture of the health of your business.
• Provide you with more effective cash management.
• Have the piece of mind of knowing that all of your financial paperwork is in order.

Income Statement: An income statement is a valuable business toll that itemizes all of your revenues and expenses in order to show you your profit or loss during a given period. Having an accurate and current income statement gives you the ability to:

• See at a glance where you are spending too much or staying within your budget.
• See exactly where you are making money and where you are spending money in order to assess business performance.
• See where expenses are running higher than anticipated, allowing you to make corrections.
• Identify other unanticipated activities, such as product returns or sudden increases in the cost of goods.
• Calculate income tax owed.

Balance Sheet: Having an accurate balance sheet available provides you with a quick way to determine the health of your business at any given moment. By reviewing balance sheet information you can:

• See where your business’ strengths and weaknesses lie
• Spot trends, determine their cause and come up with solutions, especially those involving accounts payables and accounts receivable.
• Make informed decisions regarding the possibility of expansion.
• Make informed decisions regarding your ability to remain flexible in the face of expansion and contraction of business.
• Determine whether you need to increase your cash reserves.
• See whether your payables are being made in a timely way.

Having an up-to-date, accurate balance sheet and income sheet is essential for businesses that are considering applying for credit or who are responsible for providing financial reporting to creditors. These are the documents that they will rely upon in making decisions that are important to your business’ future.

Keeping a Clean General Ledger

One of the most important services that we provide to small business is a regular review of your general ledger system. The reason that this is so essential is that the general ledger is where the most essential information about your company’s finances is recorded. If something within the ledger is incorrect, the problem will flow through the rest of the company’s financial information, so having us double check for accuracy and discover any discrepancies will ensure that bigger problems don’t develop along the way.

Whether you are contemplating embarking on a new business venture, expanding a current organization or product line, purchasing a new business or reinvigorating a business that is in decline, it is essential that you have a Strategic Business Plan.

Far more than a tool that can be used to get financing, a Strategic Business Plan provides a platform through which you can communicate plans that up until now have been nothing but loosely formulated ideas. Having a Strategic Business Plan that is thorough, accurate and well-articulated allows you to ensure that all of your business partners and thought leaders have a clear sense of where you want your company to go, and keeps everybody on the same page and focused on the same vision.

A Strategic Business Plan provides a snapshot of your company and where it is going. It spells out what your company is, what product or service it provides, what the competitive environment consists of and how you plan to thrive. It identifies the company’s management team, outlines the known risks and details the company’s financial health. With this information at hand you are able to:

• Define your target customer and identify the ways in which your product or service will fulfill their needs.
• Provide documentation of the research you’ve done into the need for your service or product, thus creating a justification for your plans.
• Create a strategic marketing plan with detailed descriptions of your planned campaigns, promotions and timelines. You will also be able to utilize the competitive environment information to assess what the sales potential is, analyze the market conditions and how best to target your demographic, and to establish predictions and goals for your efforts.
• Draw up a staffing plan that includes details regarding the level of expertise needed to support the organization, as well as the number of employees needed and what their skill set needs to be.
• Create a management plan complete with descriptions of individual’s responsibilities and timelines.
• Project start-up costs, operating costs, projected revenue and profits for an extended period of time, and other financial planning information.
• Create a list of your business’ needs, from building and equipment to vendors and supplies.

A Strategic Business Plan is one of the most important and effective tools you can provide yourself for projecting your business’ financial needs. It will provide you with a clear perspective of what is needed to ensure your business’ success, as well as providing lending institutions and investors with the information that they need to make prudent decisions.

Preparing your own tax return can be extremely difficult with today’s complex tax code and may often leave you with more questions than answers.

These days, the majority of people and small businesses use a professional tax preparer to assist with the preparation of taxes. Even if you are just filing a simple return, the rules may change from year to year and it is easy to overlook these changes and submit an incorrect return. By doing your taxes yourself, you may also end up overlooking deductions and credits.

At Drimi Business Group, we have the expertise that is needed to help you file your returns while also helping you to minimize your tax liability with careful planning.

Tax Preparation in Dallas
Our tax preparation services include:

• Individual Tax Preparation
• Business Tax Return Preparation
• Gift & Estate Tax Return Preparation
• Partnership & Corporate Tax Preparation
• Estate and Succession Planning
• Out-of-State Returns
• Business Start-Ups

Drimi Business Group can also help with our extensive tax planning services.

Tax Planning & Education 

Tax planning is essential to helping you successfully and legally reduce the amount of your tax liabilities. In addition to making sure that your business is tax compliant, we also can suggest tax saving strategies that will maximize your after-tax income.

We offer tax and education planning to assist start-ups, as well as, established businesses. We will provide you with a complete list of the most commonly overlooked deductions so that you can limit your tax liability for the following year.

We’ll also assist you with tax planning by:

• helping you to defer income so that you can save money now and pay less taxes in the future
• lower taxes on your income so that you can keep more of your earnings
• lower taxes on your estate and gifts so that the beneficiaries can keep more of what you have given
• lower taxes on investments and retirement distributions so that you can maintain your lifestyle and much more.

If you own a small business in Dallas or need help with individual taxes, working with a professional tax planning service can help save you more money. Drimi Business Group offers the expertise that you need to save on your taxes at affordable prices.

Tax Resources

Here are some links to help you learn more about taxes:

• Tax Information for Individuals – Internal Revenue Service
• Business Taxes – Internal Revenue Service