Minnesota

Spring Cleaning for Your Finances

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The first day of Spring - March 20th - is almost here. This means that we need to account for Spring cleaning. Organization and cleaning help us purge the old and make room for the new. Most people think of spring cleaning as a time to clean the house and garden, but it’s also a perfect time to clean your finances. After all, you’re already looking through your financials to do your taxes!

Review your business structure

Are your personal assets separate from your business? If not, you can set up an LLC or incorporate your company to mitigate the risk of your personal finances.

Set up a plan with a CPA

You are digging through documents, receipts, and files for tax season, why not spend a little extra time with a CPA. Meeting with a CPA and setting up a plan can help alleviate the stresses of tax season in the future. They can help you identify what is necessary to keep and where to keep it.

Dig deeper into your finances

Look into your labor expenses. This is often times the most expensive part of your finances. Looking deeper into your labor costs can help you create extra incentive goals for your employees or help limit your spending if you end up short.

Pay yourself

Remember to pay yourself. Keep track of invoices and customer payments. Are you considered an employee, a partner, a corporate officer, or something else? Learn the different legal forms of business and how you should be paying yourself at irs.gov.

Maintain your newly organized system

Set aside 10-15 minutes at the end of each week to file, trash, and organize your files and documents. This includes physical and digital documents. Backup what needs to be saved digitally, shred sensitive document that are no longer needed, and maintain the system you put into place.

Speaking of CPA’s… we know a few. With a foundation of knowledge dating back to 1964, Schlenner Wenner can supply you with the highest knowledge and professional ability. If you would like to organize your business but don’t have the time or you feel overwhelmed, bring your receipts, documents, questions, and computer screens to us. Clean up your finances now and look forward to your company’s growing in the future.

 

We Have. We Will.

Schlenner Wenner & Co. has offered high-quality accounting services to Central Minnesota for the last 50 years, and we are committed to bringing the same quality service for the next 50 years. Starting out as a single tax focused firm in 1964, we have expanded our services as well as grown our geographical reach in Minnesota. Today, we are one of the 25 largest accounting firms in Minnesota. We believe in helping the community and helping our clients.

Saint Cloud has been our home from the beginning and we have embraced our new locations with the same homage as we have in Saint Cloud. Therefore, whether you are looking for assistance in Monticello or in Saint Cloud we will treat you with the same respect and the same quality work.

Since James Schlenner and Michael Wenner joined the firm in and became partners in 1985, they have welcomed other highly qualified partners. Becoming a partner in the firm means that they have an investment in the company. Partners want to ensure the success of the firm, by providing the best service they possibly can to their clients. Because of this, you never have to worry about the quality of work we provide. We treat each case as if it were our own.

Our next generation of accountants (managers) work hard to learn the ins and outs of being high-performing accountants. Our partners teach our managers their knowledge so that they can carry out the same level of professional experience when they become partners. The next 50 years of Schlenner Wenner & Co. will be held to the same standard as the past 50 years has been held to, with exception to the increased knowledge and experience gained along the way.