Monarch CPA
Monarch CPA provides accounting and tax services for small businesses. We offer guidance through online financial coaching designed to boost financial literacy. We offer consultative services on corporate finance strategy. Our services include tax accounting for small businesses and DCAA compliant accounting services for government contractors.
Financial Coaching Rockville MD, VA & DC. Creating financial success for yourself is not “one size fits all” like many books and experts would like to tell you.
Each person has their own journey which is why personal financial coaching is so important. It is especially important for women. Why? Because traditionally women tend to lack money managing confidence and suffer a shortfall of financial skills. Why do we lack the confidence and skills? Disparity and some still have not.
If you are reading this and it rings true to you, don’t automatically assume that you are managing your money incorrectly. Understanding Your Money Story Your money story is much more nuanced than “I am a spender” or “I am a saver”. The next step is to think of money as your best friend or your partner and reference the things your chatter was telling you. Your Path to Financial Freedom We must first heal and move past our beliefs. Evaluate your life vision, your purpose, and your talent. Preparing For Tax Season. Business owners know that owning your own business is a mix of joy, challenge, success, disappointment, and accomplishment.
Sometimes it can feel like you are on your own in running your business, and that can be daunting. Monarch CPA can help with the financial side of your business by providing accurate and reliable tax accounting services, while also helping you better understand you finances in preparation for tax season. There are three basics all business owners should do for their finances: 1) Get your bookkeeping in order You cannot file your taxes without complete and accurate financial records.
Always check your books against your bank records for accuracy. It is important to make sure personal and business expenses are kept separate. Managing your own bookkeeping may save money in the short term, but it is more advantageous to have an experienced CPA like Monarch CPA who specializes in accounting and tax services. Small Business Financial Coaching.
While all business owners need a savvy financial accounting service, as a woman-owned business Monarch CPA is keenly aware of the unique financial challenges women in particular face.
Approximately 88% of women-owned businesses generate less than $100K in annual revenue. At the same time, 62% of female entrepreneurs depend on their business as their primary source of income. And yet women tend to abdicate their financial responsibility to others, oftentimes a male business partner or spouse. This typically takes away a woman’s full control and financial decision-making autonomy. Business finances and accounting can be overwhelming in and of itself, however, if a partnership or marriage ends, then the woman business owner is often left reeling. Women-owned small businesses are growing 4% year over year, and in 2018, there were 12.3 million women-owned businesses in the U.S, and1,821 new women-owned businesses launched every day. Monarch CPA Celebrates 15 Years. I wanted to create a different kind of accounting firm.
One that offered reliable and precise accounting and tax services, sure; but one that also helped its clients better understand their numbers. My conviction was that if a business owner could understand her numbers, she would make better decisions – strategic ones – that could help her business thrive. This became the spark behind Monarch CPA. In these past fifteen years, we’ve learned and evolved so much, but one thing that hasn’t changed is our desire to help our clients become better leaders through financial literacy. In March of this year, we underwent a rebranding exercise to discover our point of difference and the value we bring. We also created a new tool for our clients: the “Mind the GAAP” section on our site, which seeks to fill the knowledge gap with strategic planning and financial understanding courses.
With heartfelt appreciation, Financial Online Coaching Services Empower Small Business Owners. When it comes to running your business, you are indisputably the most informed about your business and industry.
But what about your business’ finances? For most business owners, there is a sizable knowledge gap and many business owners – especially those starting out on a tight budget – lack the basic bookkeeping skills needed to set up and maintain their business finances correctly. Forty-five percent of small business owners do not use a professional CPA. Instead, they roll up their sleeves to install Quicken or QuickBooks on their computers and do their best to set up a record keeping structure. This comes at a cost: many business owners find themselves struggling to stay in operation, facing revenue loss, underestimated expenses, overpaying taxes, getting audited, payroll and sales tax penalties and bookkeeping errors.