The US is home to an estimated 31.7 million small businesses. The vibrant and ever-growing spirit of entrepreneurship in this country is exciting – and these companies, which include a huge range of industries and sectors, form the backbone of the US economy. They account for over 99% of all businesses – and they employ almost half of the American workforce.
The surge in entrepreneurship has been fueled by factors like technological advancements, the rise of the gig economy, and an increasing desire for work flexibility and autonomy. But with this growth comes a set of unique challenges – particularly in the realms of taxation and financial planning. Business taxes are complex. They require knowledge of many federal, state, and local tax laws, and that’s a daunting task for many entrepreneurs, especially those running small operations.
Seasoned tax pro and IRS agent Tatyana Stan knows that these entities face unique financial challenges, much different from traditional employers. They need special tax help and specific strategic financial planning. There’s a lot to consider – quarterly tax payments, self-employment taxes, and various deductions, all within the framework of a continuously evolving tax code. Effective financial management, encompassing budgeting, cash flow, and investment strategies, is essential for the sustainability and growth of their businesses.
“Small businesses and entrepreneurs are especially vulnerable to the risk of financial pitfalls and tax penalties,” Tatyana shares. “They’re small. Their budgets are limited. They can’t afford these types of costly mistakes.”
That’s why she started TotTax, which offers professional tax assistance and financial planning services specific to small businesses and entrepreneurs, and she helps them to successfully manage these complexities and seize financial opportunities.
With its recent expansion into a full-service accounting management and strategy platform, TotTax can now offer a suite of comprehensive services, led by the knowledgeable Tatyana. She uses her background as an IRS enrolled agent (EA) to craft a platform that is laser-focused on the particular needs of burgeoning businesses.
“We’re so pleased to have witnessed the expansion of TotTax into a full-service accounting and financial strategy firm,” says Tatyana. She shares that her team is ready to make big changes for small business and freelancers, and they employ a holistic approach that encompasses everything from tax preparation and compliance to strategic financial planning, hiring employees, budgeting, and forecasting.
“For young businesses, this can be the difference between merely surviving and thriving in a competitive market,” Tatyana reveals. “Our services are able to be fully customized to serve as a stepping stone toward growth and success. No two businesses are the same. So my team and I approach each client with a fresh perspective.”
She explains that they craft strategies that align with the specific needs and goals of each business. This personalized approach is particularly beneficial for small businesses that often require more nuanced financial guidance than larger corporations.
And it’s backed by Tatyana’s formidable blend of technical knowledge and practical business acumen. Her background as an IRS EA equips her with a deep understanding of the complexities of tax law, payroll and accounting, which she applies to help clients navigate the maze of taxation with ease.
“Compliance is the bare minimum,” says Tatyana. “What I seek to offer my clients is something much better. I want to promote financial intelligence among entrepreneurs so that they can make informed decisions that drive their businesses forward while saving on taxes.”
She knows that market dynamics are constantly shifting, and expert financial guidance is essential when it comes to growing and scaling a business. ToxTax’s services are geared towards demystifying financial complexities, allowing entrepreneurs to focus on what they do best – running their business. From managing cash flow to making strategic investment decisions, retirement planning, and hiring employees, TotTax equips its clients to handle all financial aspects of their business.
“Newer businesses that are still growing can get overwhelmed by the financial landscape,” says Tatyana. “We’re here to simplify the process. Our wide range of services address all financial aspects of running a company. We can help develop a tax planning strategy, provide understanding for tax obligations, and help manage day-to-day financial operations. We’re here to provide the expertise and tools necessary for businesses to stay financially sound and competitive.”
Because of that, TotTax is a platform for financial empowerment. The team gives businesses the knowledge and resources to manage their finances effectively, so that they can become financially savvy and contribute to a robust entrepreneurial ecosystem where businesses can flourish and contribute to economic growth.
TotTax is, itself, a growing small business, set to become an all-in-one business platform supporting entrepreneurs from a professional and financial standpoint. Tatyana plans to incorporate emerging technologies and innovative financial tools so that her firm remains up to date as a comprehensive, tech-driven financial platform.
TotTax is making major strides in empowering entrepreneurs with comprehensive financial strategies. The firm’s tailored solutions, expert guidance, and full suite of financial services assist businesses in managing their finances and equip them to navigate the complexities of the entrepreneurial world with confidence and foresight.
Learn more: https://tottax.com/
