The Diamant Way
Collaborative + Proactive Accounting
Your time is best spent doing what you’re good at (and what generates the most money). You didn’t open your business so you could be an accountant and focus on tax compliance. Giving a staff member bookkeeping responsibilities brings another set of challenges and supervising them adds even more tasks to your already overbooked to-do list.
That’s why we created our collaborative and proactive accounting system for our small business clients.
“I trust them with all things money! Literally, ALL things money related! They’re fast, brilliant and kind!”
Alicia Averitt Haley
Diamant Client
Our Capabilities
Our suite of services is focused on five areas:
Financial Triage & Assessment
When you’re a small business owner, your business and personal financial life are often intertwined. To start your journey with Diamant Accounting, we’ll prepare a personal and business financial assessment for the key areas of your financial life. This assessment will serve as our anchor point since it’s hard to guide you on your business journey if we don’t know where you’re at, where you want to go, or how you want to get there.
Accounting & Bookkeeping
Accounting and bookkeeping is the core of what we do. Without reliable financial information, it’s a challenge to effectively file your taxes, provide impactful tax planning, and deliver meaningful financial intelligence for your business. Just like you wouldn’t go on a cross-country trip without a map, money, suitcase, or a plan for how to get there, you shouldn’t try to run your business without an understanding of where you’re at, a process for measuring how the business is performing, or a solid plan for minimizing your taxes.
Payroll
Payroll is a high risk, low reward exercise. Your employees don’t give you thank-you notes when their paycheck is on time, but they will quickly let you know when a paycheck is late. The IRS really frowns upon being late with payroll tax payments and filings – a simple mistake with a late tax payment or missed filing can lead to substantial fines and penalties. Our payroll solution simplifies payroll processing, ensures your tax payments and filings are timely, and provides meaningful labor cost reporting. We also offer several innovative add-ons, including time tracking, electronic employee onboarding, HR Support, and integrated retirement plans.
Tax Planning and Filings
Tax planning and preparation should be proactive. It’s hard to save money when you file right at the deadline and you’re reacting to last year’s numbers. This statement seems obvious, but there are many CPA firms that aren’t proactive and follow an ineffective, reactive process. Our unique process begins each year with two things – timely completion of the current returns along with an initial plan for paying this year’s tax obligations while ensuring all tax savings steps are being implemented. At the end of the summer, we check the plan to ensure it’s still aiming at the correct targets. When year-end approaches, we meet to revisit the tax projection and review tax planning opportunities. The tax process wraps up in March/April of each year when your business and personal tax returns are filed.
Advisory Services
Once your core accounting system is in place, you’re out of fire-drill mode for taxes, and you have a grip on your finances, you’ll likely reach the “What’s Next?” stage. In this stage, you’ll consider questions like understanding departmental profitability in your business, identifying steps to generate next-level growth, or whether an acquisition makes sense. We have decades of experience with small businesses and can provide you with Fortune 500 caliber insights in a straight-forward manner.
The Diamant
Proctive Accounting Plan
Step 1
Assessment
A paid financial assessment of your personal and business finances so we can help you identify the best ways to save on taxes, grow your profits, and mitigate significant risks to your financial success.
Step 2
Onboarding
Once you’ve picked your services from your custom proposal, we set up your new accounting system, start the financial reporting for the current year, and complete the clean-up work on any unfiled prior year taxes.
Step 3
On-Going
With our systems in place, we help you build habits and improve decision making that yields a more successful business. We’re walking with you along this journey, helping guide you when you need a reliable partner.
It Starts With A Conversation
Let’s talk about taking accounting off your plate and growing your business.