Business advisory and tax planning for small-business owners
in Tampa Bay and nationwide.
Better Business Decisions Start Before You Make Them.
Running a business means making decisions every day. Should you hire another employee? Buy equipment? Change how you pay yourself? Put more into retirement? Change your business structure? Make a move before year-end?
Those decisions can affect your cash flow, taxes, business and family.
At Belshaw Accounting, Tax and Advisory Services, we help small-business owners look at the whole picture before they make important financial and tax decisions.
Small-Business Focus
Since 1978
Price Before We Start
Virtual-First
You Don't Know
What You Don't Know
You shouldn't have to know the right tax or accounting question before you call us. That's part of our job.
If we see an opportunity, concern or question worth discussing, we bring it to your attention.
Maybe you act on it. Maybe you don't.
But at least you know the option exists.
“What opportunities would
you find if somebody looked
at your business differently?”
Good Advice Starts With Numbers You Can Trust.
Before we talk strategy, we need reliable numbers.
Are the bank accounts reconciled?
Does the balance sheet make sense?
Do payroll and the books agree?
What is the business actually earning?
Where is the cash going?
BOOKKEEPING
Tells us where you are.
ADVISORY
Helps decide where you're going.
TAX PLANNING
Gives us time to act.
TAX PREPARATION
Reports what happened.
“I’ve worked with Paul Belshaw and Belshaw Accounting, Tax and Advisory Services for several years. Paul has helped me with my individual tax planning and tax preparation, but our relationship goes well beyond taxes. As a small business owner, I appreciate having someone I can talk to about the bigger picture. Paul works with me on Fire Safe Dryer Vent Cleaning, helping me think through marketing, business decisions, and ways to improve profitability and grow the company.
What I value most is that Paul takes an interest in the business and its success. We continue to work together, and I know I can call him when I need another perspective or have a business or tax question.
I would recommend Paul and Belshaw Accounting, Tax and Advisory Services to other small business owners who want more than someone who just prepares their tax return.”
J.P. Cognito
Owner, Fire Safe Dryer Vent Cleaning
Holiday, Florida
1. Know Your Numbers
Revenue doesn't tell the whole story.
A business can be busy and still struggle to generate cash.
We help owners ask questions such as:
Is the business actually profitable?
Can the business afford another employee?
Where is the cash going?
Which costs are growing faster than revenue?
What does it cost to open the doors every month?
What numbers should you watch every month?
“Revenue is up. Shouldn't there be
more money in the bank?”
You don't need
50 KPIs.
You need the right numbers
for your business.
2. Structure It Right
Your Business Structure Shouldn't Be
“Set It and Forget It.”
The structure that made sense when you started may not be the structure that makes sense today.
Depending on your situation, we may look at:
Entity Classification and structure
S corporation elections
Owner compensation
Payroll
QBI considerations
Accountable plans
Retirement-plan opportunities
Ownership changes
How business and personal tax decisions interact
Do You Need an S Corporation?
Maybe.
An S corporation isn't automatically right because somebody on the internet said it saves taxes.
Payroll costs, reasonable compensation, potential tax savings, retirement contributions, QBI considerations and additional compliance all matter.
“Would an S corporation actually
save you money after the additional costs are counted?”
The goal isn't to make your business more complicated. It's to make the structure fit the business.
We'd rather run the numbers than guess.
3. Plan Before You Act
April Is Too Late to Start Planning for Last Year.
By tax-preparation time, many opportunities are already gone.
Planning happens before the decision.
Don't Let the Tax Tail
Wag the Business Dog.
A deduction doesn't make a bad purchase a good business decision.
We look at the tax result.
But we also look at the cash.
Should you:
Buy equipment this year or next?
Replace a vehicle?
Hire another employee?
Adjust owner compensation?
Increase retirement contributions?
Make an estimated tax payment?
Consider depreciation options?
Review business expenses before year-end?
"“Would you still
make the purchase if there
were no tax deduction?”
That's often the better question.
Sometimes the right answer is do it. Sometimes it's wait. And sometimes it's don't do it at all.
4. Build for the Future
Your Business Should Do More Than Pay This Month's Bills.
For many small-business owners, the business is part of a much bigger financial picture.
It may help fund:
Retirement
Real estate
The next generation
Your family's future
Insurance
Investments
Estate and legacy goals
That's where advisory becomes more than tax preparation.
Could Your Children Work in the Business?
For the right family and the right business, employing children can create opportunities beyond simply getting some help around the office.
Children can learn how a business works.
They can earn their own money.
And earned income may open doors to long-term saving and investing.
But the work must be real. Pay needs to make sense.
Payroll and documentation matter. And the business structure matters.
“Could your business help your children start building their future while they're still young?”
That's worth a conversation.
Own a Business? Know What the Business Can Legitimately Pay For.
Business owners may have legitimate opportunities that employees don't.
Home-office expenses
Business use of vehicles
Business travel
Qualified business meals
Technology and communications
Certain health-related benefits, when applicable
Retirement plans
Accountable-plan reimbursements
Legitimate employment of family members
The objective isn't to disguise personal spending as business spending.
It's to make sure legitimate business costs are treated as legitimate business expenses.
“Are you paying personally for expenses your business should legitimately be paying?”
Your Financial Decisions Are Connected.
YOUR BUSINESS BOOKS | TAXES | OWNER PAY | RETIREMENT | FAMILY | INVESTMENTS | REAL ESTATE → YOUR PLAN
Your entity affects how you get paid.
How you're paid can affect taxes and retirement planning.
Your books tell us what the business can afford.
A major purchase affects cash flow and taxes.
Your business can affect your family's financial future.
These decisions shouldn't be made in separate rooms.
Who's Sitting at Your Table?
Build a Board of Advisors.
A successful business owner doesn't have to be the accountant, attorney, investment professional and insurance expert.
But you should have the right people around you.
Depending on the decision, that may include your:
Accountant or tax professional
Bookkeeper
Attorney
Financial advisor
Insurance professional
Banker or lender
Other specialists
BATS doesn't try to replace those professionals.
We help recognize when another professional belongs in the conversation and work with them so the accounting, tax and business pieces aren't considered in isolation.
“Are your advisors working from the same playbook, or is everyone looking at a different piece of the puzzle?”
More Than Tax Preparation
“I’ve worked with Paul Belshaw and Belshaw Accounting, Tax and Advisory Services for several years. Paul has handled my individual tax preparation, including prior-year tax matters, and has worked with me on my accounting and tax planning.
More recently, as I began developing a dental advisory business, Paul became someone I could turn to for much more than accounting and taxes. He has worked with me on the business side of getting the company off the ground, including the website, marketing, social media, messaging, and other decisions that come with starting and developing a new business.
What I appreciate about Paul is that he looks at the whole picture. He understands that accounting, taxes, marketing, and business decisions don't exist in separate boxes. They all affect whether a business ultimately succeeds and becomes profitable.
Paul has been a trusted advisor for me for many years, and I value having someone I can call to talk through both tax matters and business decisions.
I would recommend Paul and Belshaw Accounting, Tax and Advisory Services to professionals and business owners looking for someone who will take the time to understand their business and help them move it forward.”
Dr. Robert Light
Dentist & Business Owner
St. Petersburg, Florida
Tax Law Doesn't Stand Still.
Neither Should Your Plan.
Tax laws change.
Businesses change.
Families change.
And strategies that made sense several years ago may deserve another look.
You have a business to run.
You shouldn't have to discover every tax-law change yourself.
When we see something that may apply to your situation, we bring it to your attention.
Sometimes the Best Advice Is “Don't Do It.”
We don't believe every business owner needs an S corporation.
We don't believe everyone needs another LLC.
We don't believe you should buy an expensive truck just because somebody called it a write-off.
We don't believe every property owner needs a cost-segregation study.
And we don't believe complicated automatically means better.
Sometimes a strategy saves tax but creates another cost.
Sometimes the timing is wrong.
Sometimes the numbers simply don't work.
A strategy should make business sense before it makes tax sense.
That's advisory too.
Advisory Starts With a Conversation.
Every business and every question is different. Sometimes you need help with one focused question. Other times, we may need to look at the bigger picture, your business structure, taxes, compensation, bookkeeping, retirement, family goals, investments or the professionals already working with you. We start with a conversation to understand what you're trying to accomplish.
If there's something worth working on, we'll define the scope and give you the price before we begin the paid work. If the plan requires legal, investment, insurance, estate-planning or other specialized work, we'll coordinate with the appropriate professionals rather than pretend to do work outside our role.
Tell me what's going on. Let's see if there's something worth working on.
Business Advisory FAQs
Business Advisory FAQs
What Does a Business Advisor Do?
A business advisor helps an owner understand the numbers, evaluate options and think through financial and tax decisions before acting. At Belshaw Accounting, advisory may involve bookkeeping, cash flow, taxes, business structure, owner compensation, retirement planning and other financial decisions.
What's the Difference Between Tax Preparation and Tax Planning?
Tax preparation reports what already happened.
Tax planning looks ahead while there may still be time to make a different decision.
Do I Need Bookkeeping Before Business Advisory?
Reliable books make advisory much more useful.
Current, reconciled financial information allows us to base decisions on what the business is actually doing instead of guesses.
Can You Help Me Decide Whether I Need an S Corporation?
Yes. We can evaluate the tax and financial considerations based on your business rather than relying on a generic income threshold.
Can Belshaw Accounting Help With Reasonable Compensation?
Yes. Reasonable compensation for an S corporation owner depends on the facts and should be reviewed as the business changes.
Can You Help With Year-End Tax Planning?
Yes. Year-end planning may involve income, expenses, owner compensation, retirement contributions, estimated taxes, equipment purchases and other decisions that should be considered before the year closes.
Can You Work With My Attorney or Financial Advisor?
Yes. Some decisions cross accounting, tax, legal, investment and insurance boundaries.
When another professional belongs in the conversation, we believe they should be involved.
Do You Work With Businesses Outside Florida?
Yes. Belshaw Accounting is virtual-first and works with small-business owners nationwide.
Based in Holiday, Florida. Advising Businesses in Tampa Bay and Nationwide
Belshaw Accounting, Tax and Advisory Services LLC provides small-business advisory and tax-planning services from Holiday, Florida.
We work with business owners throughout Pasco, Pinellas and Hillsborough counties and Greater Tampa Bay, including Holiday, New Port Richey, Palm Harbor, Clearwater, St. Petersburg, Tampa, Wesley Chapel, Land O' Lakes, Brandon and surrounding communities.
Our virtual-first model also allows us to work with businesses nationwide.
Meet Us the Way You're Comfortable. We Do the Work Online.
BATS is virtual-first.
Your books, tax information, documents and advisory work are handled through secure online systems. You can meet with Paul by phone, Zoom, or in person in Holiday, Florida, by appointment.
Meet us the way you're comfortable.
We do the work online.
You Don't Have to Know the
Right Question to Ask.
That's part of what you're hiring an advisor for. Bring us the questions you already have. We'll bring some questions you may not have thought about yet. Talk to real people, get real answers, and get positive results.
Maybe we find an opportunity. Maybe we confirm you're already doing the right thing.
Maybe we tell you not to change anything. But you'll make the decision with more information than you had before.
What opportunities would we find if we looked at the whole picture?
Small-Business Focus
Since 1978
Price Before We Start
Virtual-First