HMP Consultants

Your company's assets, liabilities, and owner equity are displayed on your balance sheet. In essence, it is a comparison of your assets and liabilities. Keep in mind, liabilities are what your business owes, and assets are what your business owns. Equity represents the ownership interest in the company and is calculated by subtracting the liabilities from the assets of your company. Contact us at (224) 625-0484.

Estate planning is the process of designating who will receive your assets in the event of your death. Often done with guidance from an attorney and tax advisor, a well-constructed estate plan can help ensure that your heirs and beneficiaries receive assets in a way that manages and minimizes estate taxes, gift taxes and other tax implications. Looking for some guidance on where to start and how it will affect your finances? Call us at (224) 625-0484.

In business, debt is a necessary part of the process. It can actually help you to grow and provide capital to seize new opportunities. However, it’s important to remember that not all debt is good. https://bit.ly/4edvKL2

As a business owner, you don't want to get blindsided by any financial catastrophy. That's why having a risk management plan can better prepare you for anything that negatively affects your business. By applying the right resources and tools, you can minimize, monitor and control the negative events while focusing energy and attention on how to respond. If you're looking for the right help with your business, you've come to the right place. Schedule your first appointment with us today at (224) 625-0484

The IRS is supposed to focus on audits of corporations and high-income and wealthy taxpayers. But who’s really under the agency’s microscope? This article sheds some light on who is most likely to be audited and the IRS audit process. If you’re concerned about making a mistake on your return, call us at (224) 625-0484 for guidance. https://bit.ly/4hMLkR5

The first step to year-end tax planning is to develop a base case. Ask us to prepare a pro forma 2024 tax return for you as this information will help you understand your current tax situation and how that could change depending on what you do from now to year-end. To get started, contact us at (224) 625-0484.

The type of savings account you choose can actually make a difference in how your savings grow. Did you know that? That’s one reason why knowing the different types of savings accounts available to you is so important in order to make informed decisions that align with your financial objectives and savings goals. https://bit.ly/48y0Rjp

Your company's assets, liabilities, and owner equity are displayed on your balance sheet. In essence, it is a comparison of your assets and liabilities. Keep in mind, liabilities are what your business owes, and assets are what your business owns. Equity represents the ownership interest in the company and is calculated by subtracting the liabilities from the assets of your company. Contact us at (224) 625-0484.

As the end of the year approaches, it’s important to have all your accounting ducks in a row and maximize your deductions to make tax-smart investment decisions. This helpful guide can keep you on track to ensure you have all your finances in order. Contact us at (224) 625-0484 for all your tax-related needs - we are here to help you! https://bit.ly/48PeavR

Where is your business' money coming from and going? Cash flow statements exhibit this and are divided into three categories: operating, financing, and investing. For help preparing or analyzing your cash flow statement - for example: are your assets paying off? - contact us at (224) 625-0484.