Your Engineering Accountant Quick Guide
It’s crucial to choose an engineering accountant who can proactively minimize your tax burden by up to $1M/year, while helping you to grow your profits.
Increase profitability | ||
Upfront fixed fee | ||
Proactive and innovative |
Top Engineering Accountant Platforms
The Importance of a Specialized Engineering Accountant
60%
of small business owners have limited financial
knowledge
knowledge
According to Accountancy Age, the biggest fear for small business owners handling their own accounting is making a mistake. This is probably because 60% of small business owners have limited knowledge when it comes to the financial and accounting aspects of their business.
98%
of small business owners who have an accountant feel more confident about their business
Nine out of ten small business owners believe that their accountant plays a key role in the success of their business. In fact 10 out of 10 of the small businesses who have a CPA say other businesses should get one too and 98% said their accountant gives them more confidence in their small business.
44%
of business owners believe their accountants are more reactive than proactive
A large portion of small business owners don’t feel their accountants are coming through for them. For example, 44% claim their accountants are more reactive than proactive, with 36% experiencing timeline issues, 32% lacking sufficient guidance, 29% feeling their accountants don’t offer advice, and 23.6% not being adequately educated by their accountants.
We’ll Integrate with Your Cloud Accounting Software
Engineering Data Management
Regulations You Need to Know
Regulations You Need to Know
Data management regulations are essential in engineering accounting to ensure accurate financial reporting and compliance with industry-specific standards, safeguarding sensitive project and financial data. These regulations help mitigate risks related to data breaches, fraud, and errors, while also fostering transparency and trust with stakeholders.
Occupational Safety and Health Act
Occupational Safety and Health Act
The Occupational Safety and Health Act (OSHA) of 1970 is a U.S. federal law designed to ensure safe and healthy working conditions for employees by setting and enforcing workplace safety standards. It created the Occupational Safety and Health Administration (OSHA) to regulate and monitor compliance, offering training, outreach, and assistance to prevent workplace injuries, illnesses, and fatalities.
The False Claims Act
The False Claims Act
The False Claims Act (FCA) is a U.S. federal law that imposes liability on individuals and companies who defraud governmental programs by submitting false claims for payment. Enacted in 1863, it includes a “qui tam” provision, allowing whistleblowers to file lawsuits on behalf of the government and share in any recovered damages, helping to combat fraud and protect public funds.
The Assignment of Contracts Act
The Assignment of Contracts Act
The Assignment of Contracts Act, enacted in 1989, allows federal contractors to assign their rights to payments under government contracts to financial institutions as collateral for loans. This act facilitates access to financing for businesses working with the U.S. government, by making it easier to obtain credit using contract payments as security.
How Do We Save You $10K+ to $1M+ in Taxes?
Using Our “Tax Planning” Strategies
Using Our “Tax Planning” Strategies
The Tax Plan For Current Year & Beyond | ✓ |
Deduction Review & Strategy Planning | ✓ |
Legal Entity Optimization Across LLC, S Corp, Partnership | ✓ |
Retirement Options To Save While Minimizing Taxes | ✓ |
Insurance Review To Protect Assets & Reduce Taxes | ✓ |
TCJA, FFCRA, CARES Review For Liability Minimization | ✓ |
IRS & Court Case References Support Positions | ✓ |
Core Strategy Implementation | ✓ |
Business Tax Preparation | ✓ |
Quarterly Estimated Payments | ✓ |
Quarterly Core Tax Planning & Implementation | ✓ |
Quarterly 1-On-1 Review Tax Position | ✓ |
Looking for More Advanced Strategies?
Asset Protection
Tax-Advantaged Wealth
Exit & Capital Gains
Niches Specific
International
Your Financial Partners
With 27 years of experience, we specialize in best-in-class tax minimization strategies, personalized advisory, and technology-driven efficiency.
We formed Accountant Partners so business owners like yourself would receive partner-level value in accounting, reporting, and strategic advisory, providing real-time insights that help minimize your tax burden and maximize profitability.
Our holistic approach ensures quality-consistency, efficiency, and peace of mind communication, allowing you to focus on what you do best.
As your trusted partner, we aim to build a strong, long-lasting relationship to grow your business profitably and create a long lasting advantage towards continuous success.
Allan Bayer | Accountant Partners
Partner
Trusted by Sarasota Business Owners
We Strive for World Class Service
Switching Accountants Is Easier Than You Think
Switching accountants only seems like a major pain in the butt…
But in reality, it’s a brief communication with your current accountant:
Your accountant is professionally mandated to provide your books to whomever you request they go to. It’s really that easy.
The Only CPA Firm with a Pricing Guarantee
Our pricing guarantee is simple: If we don’t quote you upfront for the work, we don’t expect you to pay. Whether that’s in our first engagement with you, or it’s in 20 years from now.
You’ll never receive an unpleasant surprise in our invoicing.
Our guarantee makes it a no-brainer to work with Small Business Accountant Sarasota.
Book Your Free Consultation
If you’re looking to grow your business and willing to listen to new and better ideas, then we’re the trusted Small Business Accountant for you.
During our initial consultation, we’ll review your immediate needs and provide a course of action with a fixed-fee quote (no surprise bills here).
FAQs
Why do engineers need an accountant?
Engineers need accountants to manage financial aspects of projects, such as budgeting, cost estimation, and expense tracking. Accountants provide valuable insights into financial viability, help ensure compliance with regulations, and assist in financial reporting, allowing engineers to focus on their technical work while maintaining sound financial practices.
What skills should an engineering accountant possess?
An Engineering Accountant should possess strong analytical skills, proficiency in accounting software, and a solid understanding of engineering principles. Effective communication, problem-solving abilities, attention to detail, and project management skills are also crucial for budgeting, cost analysis, and financial reporting in engineering projects.
What’s the difference between an engineering accountant and a general accountant?
Engineering accountants specialize in the financial aspects of engineering projects, focusing on cost analysis, budgeting, and project management. In contrast, General Accountants handle broader financial tasks, such as bookkeeping and financial reporting, across various industries without specific emphasis on engineering principles.
What are the key numbers to focus on as an engineering accountant?
As an Engineering Accountant, key numbers to focus on include project costs, budget variance, gross margin, cost per unit, return on investment (ROI), cash flow, utilization rate, and overhead rate. These metrics provide insights into profitability, efficiency, and financial health of engineering projects.
Your Next Steps
Request a Consultation |
We’ll review your immediate needs and provide a course of action to help you save money on taxes and grow your business.
How We Helped a Business Grow & Exit for $1.7M |
See how one business owner unlocked $1M in capital.
Engineering Accountant Locations Near You
7259 Seaworthy Dr
Huntington Beach, CA
92648
(657) 300-6966
2010 NW 150th Ave ste 202
Pembroke Pines, FL
33028
(754) 238-0525
Three Reasons to Work With Us
A Focus on Owner-Managers
Our practice is organized to serve private companies and their Owners. We offer exceptional service that is focused on increasing profitability, preserving wealth from tax and increasing your net worth.
Proven Track Record
We’ve been consulting Business Owners for over 15 years. Small Business Accountant Irvine is dedicated to your success and treats your business as if it were our own.
Expert Solutions to Your Problems
New problems arise every day for Business Owners. We offer Partner-level attention and implement tailored solutions to your tax, accounting, and other business problems.
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