For those who operate their own business, it helps to have experienced professionals who can guide them along the way.
“Everybody needs to do some financial planning. You can’t do everything yourself nowadays. You need other people on your team” said Rick Fuller, a certified public accountant (CPA) in Glens Falls.
A certified public accountant provides a number of services for a company, such as income taxes, payroll taxes, sales taxes, financial planning, helping to start the business, liquidation, setting up and administering retirement plans, estate plans, reorganization of business plans, and the eventual sale and merger of the business.
“I ask clients ‘Where are you going? What are your goals?’ I always say ‘You can’t go anyplace unless you know the direction you are heading,” said Fuller, who graduated from Utica College with a degree in accounting
Fuller helps clients to make financial plans and come up with goals for their business.
CMJ LLP in Glens Falls has been in business for 28 years and has formed long-term relationships with many clients.
“Many of them have been with us since we first opened. And now we represent their children and even their grandchildren,” said Paul Curtis, a CPA and partner at CMJ LLP. The firm is located in Queensbury. He received his degree in accounting from Siena College.
“What is your experience in this industry? How do you charge? What can you do for me?” are questions people should ask of accounting firms when they are seeking advice, Curtis said. Additionally, references should be asked for.
Both Fuller and Curtis agree that it is currently a tough time to start a business.
“It’s not a good time to be taking risks,” said Curtis.
Fuller stressed the importance of making sure there is a well-thought-out business plan in place before starting a business.
“Timing is important, but you also have to have the right plan in place. Generally speaking, a business is not a fad. For example, you don’t want to go launch a ski business in May,” he said.
Taking the right steps can ensure a financially secure present and future.
“A lot of people say your house is your biggest investment, but I believe your business is your biggest investment. Take your time and make sure you do it right,” said Fuller.
If a business owner needs a certified public accountant but is not sure where to find one, one of the best ways is through referrals of others who are in business. The local Chamber of Commerce is also a resource for CPAs or financial planners.
Fuller is located at 79 Warren St., Ste. 1C in Glens Falls. For more information, rickfullercpa.com or call 636-5166. CMJ, LLP is located at 276 Dix Ave. in Queensbury. For more information, visit www.cmjllp.com or call 798-3330.