Exciting news! David Mills CPA has officially opened our East Peoria location. We can provide your business with accounting and financial services. Our office is open Monday-Friday from 8:00 AM until 5:00 PM. We are excited to be a part of the small business community that is located in East Peoria, Illinois.
In order to best serve our customers, we offer a wide variety of services. We can assist your business with the financial aspects so you can focus on what is most important to you. A list of our services include:
Our East Peoria location is now booking appointments. We are also available for video conference meetings if needed! For all of your financial needs, contact David Mills CPA today. We look forward to working with you and serving our customers in East Peoria.
With April right around the corner, warmer days will be here before we know it. While many people associate spring cleaning with cleaning and organizing your home, have you thought about spring cleaning your finances? Spring cleaning your finances is a great way to get back on track with paying off any debt, getting organized, and evaluating your overall financial situation. By following our five spring cleaning tips, you will be on your way down a more stable financial path.
Take a look at how much total debt you owe. To truly understand your debt load, you will need to calculate how much debt you owe compared to the amount that you earn. If your total consumer debt is less than 20% of your net income, you are in fine standings. But, if your total consumer debt is above 20%, it is time to assess your debt load. Don’t let it overwhelm you though as there are many solutions to becoming debt free such as cutting expenses, creating a debt-free plan, setting goals each month, getting a second job and numerous of additional solutions.
Organizing your finances is a vital part of being able to gain control over your financial situation and to make sure that additional wealth is going to be created. A few ways to organize your finances can include consolidating accounts, filing important documents, determining your personal net worth, estate settlement, and shredding documents that you no longer need. All of these tasks will help you be on your way to better-organized finances.
Your budget is one of the most important parts of your financial planning. Without a budget, you could be at risk of overspending on items that could cause you to go into debt, or further into debt. The best way to tweak your budget is to look back at the past couple of months and analyze what you spend the most and least money on. From there tweak it accordingly if you see any trouble spending areas or areas that you’re budgeting more than you need to.
It is always a good idea to check up on your insurance policies, whether it be health, property, casualty, or any other insurance policies you may need to evaluate. There are many benefits by doing this such as catching any mistakes, finding better rates, or realizing it may be time to bundle. As your life changes over the years, it is always best to ensure you are not paying for insurance you no longer need or that you are not underinsured.
Evaluating your 401k is important for a number of reasons. Many people make basic mistakes such as overlooking retirement plan fees, getting scared by market volatility, or getting overly aggressive. Reasons like these are why it is important to think about retirement sooner than later so that you are able to take on an appropriate level of risk all along.
If you are looking for financial services to help get your finances in order this spring, contact David Mills CPA LLC. David Mills offers financial and accounting services to small and medium-sized businesses, as well as individuals in Peoria, IL as well as the surrounding areas. To learn more about the services we offer, or to learn more about David Mills CPA LLC as a company, contact us here. We look forward to speaking with you!
No matter the type or size of your business, the tax man will come knocking on your door when tax season comes among us. It is always best to have your books in order and up to date when that time comes. We know this may seem like a hassle to keep up with yourself, but by following our tips below, you will be on your way to better, more organized accounts this year and a more successful business.
Becoming and remaining organized is incredibly important to keep your finances in order. The good news is that this doesn’t have to be complicated. Keeping up with basic spreadsheets showing all your funds received and paid out is a simple way to track your finances. At the end of every month, check to ensure your records align with the money in your bank account to ensure balanced accounts.
We understand that handling your financials is not the most straightforward task to take on yourself, which is why we always recommend hiring a professional accountant in your area to take care of the dirty work for you. By hiring a professional, you can rest assured knowing your accounts are in good hands, you are up to date with all rules and laws, and you aren’t missing out on any tax allowances. By hiring an accountant, you can put all of your attention on growing your business.
There are many benefits when separating your personal and business finances. Not only will it make your business look more professional, but it will make it much easier to separate personal and business expenses when tax time comes. Depending on how your business is set up, it may be required by law to have separate accounts. Ask a local accountant in your area if you are curious whether this is necessary for your business.
Waiting until the last minute to get your finances in order is never a good idea. Procrastinating this task usually leads to additional issues down the road; by then, it is too late to have it sorted out. Staying on top of your receipts and invoices will make it easier for you and your accountant to get your accounts sorted out promptly. And not to mention it will help your overall business run more smoothly.
Following the four tips above, you should be on your way to better, more organized accounts. The more you keep track of and have up to date, the easier it will be when tax season comes along. If you are looking for additional help with your finances or have questions about getting your books in order, contact a professional accountant in your area. David Mills CPA LLC provides expert accounting and financial services to small and medium businesses and individuals across Peoria, Morton, and the rest of Central Illinois. Contact us if you want to get your books in order this year.