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We specialize in business succession planning, performance enhancement, employee benefits and incentives, tax planning, risk management, and more. Our passion at Briarwood is to make the complex simple. Let’s align your planning with your dreams, so you and your business are positioned to make an impact and leave an unforgettable legacy.
Our team is dedicated to helping your business succeed. We’ll help you grow and protect your assets, put together tax-efficient strategies, and prepare to pass your dream on to the next generation when the time comes. At Briarwood, we specialize in helping business owners. Two out of five of our clients are one. Working in your business and on your business isn’t the same thing. We help you bring your vision to life.
This service involves the accurate entry of financial transactions into accounting software. It includes recording details such as sales, expenses, invoices, and receipts.
Bank reconciliation involves comparing the company's recorded transactions with the bank statements to ensure that they match. Any discrepancies are identified and resolved.
This service involves managing the company's payable accounts, including tracking invoices, ensuring timely payments to vendors, and maintaining a record of outstanding debts.
This service focuses on tracking customer invoices, following up on payments, and managing the collection process to ensure the company receives payments for products or services rendered.
Bookkeepers track and categorize various business expenses, including office supplies, utilities, travel, and entertainment, to help monitor and control costs.
Payroll services involve calculating employee wages, taxes, benefits, and deductions accurately. Bookkeepers ensure that employees are paid correctly and that payroll taxes are filed on time.
Accountants and bookkeepers generate financial statements such as income statements, balance sheets, and cash flow statements. These reports provide a snapshot of the company's financial health and performance.
Bookkeepers assist in organizing financial data and records required for tax preparation. They help ensure compliance with tax regulations and provide the necessary information to accountants or tax professionals.
For businesses with inventory, bookkeepers keep track of inventory levels, update inventory records, and reconcile any discrepancies between physical counts and recorded quantities.
The general ledger is a record of all financial transactions in chronological order. Bookkeepers maintain and update the general ledger to provide a comprehensive overview of the company's financial activities.
A 401(k) plan is one of the most common retirement savings plans in the U.S. Employees can contribute a portion of their salary before taxes into an investment account. Employers may match employee contributions up to a certain percentage.
Similar to a 401(k), but contributions are made with after-tax dollars. Withdrawals in retirement are generally tax-free, provided certain conditions are met.
This is similar to a 401(k) but is tailored for employees of tax-exempt organizations like educational institutions, hospitals, and charitable organizations.
This plan is for government and certain non-governmental (like non-profit) employees. It resembles a 401(k), but there may be no 10% penalty for withdrawals before the age of 59 ½, under certain conditions.
Designed for small businesses with fewer than 100 employees, this plan allows for both employee and employer contributions. It has lower contribution limits compared to a 401(k).
This is also for small businesses or self-employed individuals. Employers can contribute to employee SEP IRAs but employees themselves cannot contribute.
Employers contribute a portion of the company’s profits to employee retirement accounts. The allocation can be discretionary and usually depends on the company's financial performance.
Employers contribute a fixed percentage of an employee's salary every year, regardless of company performance. The contribution rate is defined in advance.
This traditional pension plan provides a set benefit, usually a monthly amount, to employees upon retirement. The benefit amount is typically based on salary and years of service.
Employees are provided with company stock, usually at no upfront cost to the employee. This allows employees to become partial owners and potentially benefit from the company’s success over time.
We'll help you navigate the complexities of your financial landscape with a comprehensive approach. From Integrated Wealth Planning and Employee Benefits to Strategic and Risk Management, we ensure every aspect of your financial world is aligned with your goals. We focus on Operational Efficiency, crafting Incentive Plans, and optimizing your Business Structure, while also providing expert guidance on Tax Planning, Financial Management, and Non-Qualified Compensation. Let us be your trusted partner in achieving long-term success and stability.
Business owners have unique needs due to the large percentage of their wealth in one concentrated position, the business. Let’s make sure your business plan and personal financial plan are aligned. Our team works with you to understand key areas, such as your corporate structure, potential tax liabilities and exit strategy, to help you proactively plan for the future and leave a lasting legacy.
Your goal as a business owner is to attract and retain high-quality employees. Supplying the correct benefits – including retirement, health, life and disability plans – allows your team to compete for and retain top performers. Our team will evaluate your current benefits and providers, and help you coordinate benefit plans within your budget.
Our in-house business evaluation team will help you create and/or review your business plan and compare your measures to industry metrics. We use a strategic process that maps out your performance against key performance indicators (KPI’s). We will meet on a consistent basis to evaluate your progress and discuss strategic initiatives.
Our team will complete an overall assessment of your current risk in the business, so together we can uncover solutions that take your business to the next level. By identifying key areas and the overall impact on the stability of the business, you can deploy strategies to accept, avoid, mitigate, transfer or reduce risk.
By increasing operational intelligence, our team will help you create an efficiency plan to improve day-to-day business operations and move your business from a reactive to proactive entity. A business with established efficiencies can adjust to dynamic, ever-changing market conditions.
The success of your business is often dependent on attracting and retaining key employees. We work with owners to create a tangible plan – one that might include stock options, partnership, insurance benefits – that incentivizes key employees to drive increased revenue, achieve key strategic initiatives and remain loyal to your business.
How will you protect your business and your personal wealth? Business owners need proactive advice – strategic planning can save you taxes and provide more assets to invest in your company and personal goals. Tax planning involves creating strategies around your corporate structure and plan for expansion, the location of your business, income/distribution planning and coordinating your plan with relevant parties.
We specialize in the complex banking needs unique to business owners. We’ll evaluate your need for bank debt, lines of credit, short-term cash flow, long-term expenditures or investments and more. It’s also key to weigh the impact of debt on your personal financial statement – we help with that, too.
Our in-house Advanced Solutions team will help you evaluate whether your current business structure matches your immediate needs, growth plan and eventual succession or exit plan. The correct structure can save you in taxes and provide a smooth track for expansion or purchase.
A non-qualified deferred compensation (NQDC) plan allows executives to defer a large portion of compensation – and corresponding income tax – to a later year, ideally when your tax bracket is expected to be lower. Through the course of your and/or your key employees’ careers, this scheduled distribution structure can cover shorter-term goals, such as college tuitions, or long-term goals, such as retirement.
