![Small Business Accountant Richmond Small Business Accountant Richmond](https://nbcpa.us/wp-content/uploads/bfi_thumb/small-business-accountant-philadelphia-1-qniqmdgno5unen4emvpa2bagelzoponayl0k03o9vg.jpg)
As Your Small Business Accountant in Richmond (VA), We Could Save You $100K to $1M in Taxes
As your trusted Advisors, we could potentially minimize your tax burden by $100k – and often millions – and can help to grow your profits.
Serving the Richmond area’s 1,059,907 residents and 46,550 businesses spanning Fan District, Museum District, Church Hill, and beyond for all of your Richmond Small Business Accountant needs.
![small-business-accountant-philadelphia2](https://nbcpa.us/wp-content/uploads/2020/08/small-business-accountant-philadelphia2-2.jpg)
How One Small Business Owner in Richmond Unlocked $1M in Capital
Frustrated with Your Current Accountant?
If you’re reading this page right now, then you’re probably:- Your accountant retired
- Fed-up with your accountant failing to return your calls
- Concerned that delinquent financial reporting will jeopardize your financing
- Aware that your accountant has dropped the ball with the IRS, your bonding company or insurer
- Uncertain what your accountant is or isn’t working on
4th Generation Small Business Owners & Accountants
My grandfather was an Accountant and my other grandfather was in the insulation manufacturing industry. Doing great accounting work is in my blood.
Since 1989, my father (Kevin Niedoba), A small business accountant of 30+ years founded our family accounting firm. A few years back, I decided to split my time as a small business owner and join him because I’m passionate about both accounting and entrepreneurship. I hope one day my son, William, will also join the business (if he wants to, he’s only 3 years old).
We’ll treat your business like it’s our own, by taking advantage of every possible legal tax minimization and profitable growth opportunity we can, all the while minimizing risks.
On behalf of my family and our amazing team at NB Advisors, I look forward to working with you to grow your business.
![nbcpa-ryan-kevin nbcpa-ryan-kevin](https://nbcpa.us/wp-content/uploads/2019/11/nbcpa-ryan-kevin.png)
Ryan Niedoba | NB Advisors
Managing Partner
Kevin Niedoba, CPA | NB Advisors
Managing Partner
![small-business-accountant-philadephia-1 small-business-accountant-philadephia-1](https://nbcpa.us/wp-content/uploads/2022/06/small-business-accountant-philadephia-1-1.jpg)
Trusted by Richmond Small Business Owners
How We’re Going to Build Your Profitability
![nbcpa1 nbcpa1](https://nbcpa.us/wp-content/uploads/2019/11/nbcpa1-1.png)
Tax Minimization
We’ll look at all aspects of your business to identify tax minimization opportunities.
We’ll extensively review the tax laws, deductions, and deferrals to identify missed and underutilized small business opportunities to minimize your tax bill by $100k to $1M.
![group group](https://nbcpa.us/wp-content/uploads/2019/11/group-4.png)
![group-25 Profitability Benchmarking](https://nbcpa.us/wp-content/uploads/2019/11/group-25-1.png)
Profitability Benchmarking
As Small Business Accountants in Richmond, we’ll evaluate your profitability and compare it to the rest of the industry.
We’ll advise you on innovative strategies to increase your profits.
Game Plan
We have the exclusive North American license to “Game Plan” software.
With this tool, we’ll quickly analyze 100s of financial data points to determine the maximum amount capital you can allocate to maximize your revenue growth while minimizing risk.
![union-2 union-2](https://nbcpa.us/wp-content/uploads/2019/11/union-2-1.png)
![group12-1 group12-1](https://nbcpa.us/wp-content/uploads/2019/11/group12-1-1.png)
Awesome 8
Annually, we’ll a perform a firm-wide “Awesome 8” review on your business, on how to:
-
- Minimize taxes paid
- Increase growth, profitability, cash flow, and asset protection
- Plan financial retirement, succession, and legacy/estate
Our focus is on making your small business better, faster, and stronger.
We Are a Richmond CPA Firm That Strives for World Class Service
Our Claimed Awards
2018
NJBA:
Best Online Interactive Tool Award
2016-17
SNJBP:
Readers’ Choice Award
2016
NJBA:
Sales and Marketing Excellence Award
2015
Thomson Reuters:
The Rookie of the Year Award
Photo Credit:
Thomson Reuters. Ryan Niedoba (middle) and Kevin Niedoba (right).
![nbcpa-awards nbcpa-awards](https://nbcpa.us/wp-content/uploads/2019/11/nbcpa-awards.png)
Our Claimed Awards
2018
NJBA:
Best Online Interactive Tool Award
2016-17
SNJBP:
Readers’ Choice Award
2016
NJBA:
Sales and Marketing Excellence Award
2015
Thomson Reuters:
The Rookie of the Year Award
Switching Accountants Is Easier Than You Think
Switching accountants only seems like a major pain in the butt…
But in reality, it’s a brief communication with your current accountant:
“It’s time for a new direction. Please send my books over to Kevin & Ryan at NB Advisors. Thank you for your service.”
Your accountant is professionally mandated to provide your books to whomever you request they go to. It’s really that easy.
Book Your Free Consultation
If you’re looking to save on your taxes and grow your business, then we’re your trusted Small Business Accountant Richmond.
Small Business Accountant Richmond Also Serves Cities and Suburbs Around Virginia
Virginia Beach
Chesapeake
Norfolk
Arlington
Newport News
Alexandria
Hampton
Roanoke
Portsmouth
Suffolk
Lynchburg
Dale City
Centreville
Reston
![small-business-accountant-philadelphia-logo](https://nbcpa.us/wp-content/uploads/2020/08/small-business-accountant-philadelphia-logo-1.png)
The Only CPA Firm with a Pricing Guarantee
Our pricing guarantee is simple: If we don’t quote you upfront for the work, we don’t expect you to pay. Whether that’s in our first engagement with you, or it’s in 20 years from now.
You’ll never receive an unpleasant surprise in our invoicing.
We serve Home Builders Across the USA as Construction Accountants:
New Jersey | Pennsylvania | Florida |
New York | California | Texas |
Ohio | Georgia | Michigan |
North Carolina | Illinois | Virginia |
Washington | Massachusetts | Arizona |
Indiana | Tennessee | Missouri |
Maryland | Wisconsin | Minnesota |
Colorado | Alabama | South Carolina |
Louisiana | Kentucky | Oregon |
Oklahoma | Connecticut | Iowa |
Mississippi | Arkansas | Kansas |
Utah | Nevada | New Mexico |
Nebraska | West Virginia | Idaho |
Hawaii | Maine | New Hampshire |
Rhode Island | Montana | Delaware |
South Dakota | Alaska | North Dakota |
Washington D.C. | Vermont | Wyoming |
We Serve Home Builders in Cities Across the USA as Construction Accountants: New York, Los Angeles, Chicago, Houston, Philadelphia, Richmond, Phoenix, San Diego, San Antonio, Dallas, Detroit, San Jose, Indianapolis, Jacksonville, San Francisco, Columbus, Austin, Memphis, Baltimore, Charlotte, Fort Worth, Boston, Milwaukee, El Paso, Washington, Nashville-Davidson, Seattle, Denver, Las Vegas, Portland, Oklahoma City, Tucson, Albuquerque, Atlanta, Long Beach, Kansas City, Fresno, New Orleans, Cleveland, Sacramento, Mesa, Virginia Beach, Omaha, Colorado Springs, Oakland, Miami, Tulsa, Minneapolis, Honolulu, Arlington, Wichita, St Louis, Raleigh, Santa Ana, Cincinnati, Anaheim, Tampa, Toledo, Pittsburgh, Aurora, Bakersfield, Riverside, Stockton, Corpus Christi, Lexington-Fayette, Buffalo, St Paul, Anchorage, Newark, Plano, Fort Wayne, St Petersburg, Glendale, Lincoln, Norfolk, Jersey City, Greensboro, Chandler, Birmingham, Henderson, Scottsdale, North Hempstead, Madison, Hialeah, Baton Rouge, Chesapeake, Orlando, Lubbock, Garland, Akron, Rochester, Chula Vista, Reno, Laredo, Durham, Modesto, Huntington, Montgomery, Boise, Arlington, San Bernardino
We proudly serve American home builders out of the following locations
Construction Accountants New Jersey
20 E. Taunton Rd. Suite 100
Berlin, New Jersey
08009
1(856) 263-2626
Map
Construction Accountants Philadelphia
100 N 18th St. Suite 300,
Philadelphia, Pennsylvania
19103
1(215) 201-4646
Map
Construction Accountants Tampa
100 S. Ashley Drive, Suite 600,
Tampa, Florida
33602
1(407) 809-7474
Map
Construction Accountants Orlando
9100 Conroy Windermere Rd.
Windermere, Florida
34786
1(407) 809-7474
Map
Case Study: How One Home-Builder Saved $1M in Taxes
Last updated Octombar 2019
By Ryan Niadoba, President at N0 Boundaries Advisors
![rectangle-1 rectangle-1](https://nbcpa.us/wp-content/uploads/2019/11/rectangle-1-1-300x297.png)
Case Study: How One Home-Builder Saved $1M in Taxes
I first met Jim Lupinetti of One Creation Construction on his job site, while he was in the midst of framing a 2,600 square foot cape cod in an idyllic New Jersey neighborhood across from the park. Guys were running around, lumber was laying everywhere.
Jim had several homes actively being built and dozens more on the horizon. He proceeded to tell us how his business was doubling in size every year. How his team was handling the growth, but how he couldn’t stand that his accountant would never return his phone calls, especially with pending tax returns.
See, Jim’s accountant used to be good. He would call back immediately. Jim always knew when his work was getting done, he understood what the accountant did and why he did it.
Unfortunately, Jim’s accountant became more focused on his own retirement than on helping Jim. Despite being very loyal, Jim had grown frustrated and the time to make a change was now.
Sound familiar?
What Good Accountants Do…
So we asked Jim.
Our CPA firm’s policy is to return all customer phone calls/emails within 24 hours, with no exceptions. Is that something that would put your mind at ease?
“Yes.”
And every single project we do for a customer has a known completion date, in advance, approved by you, the client. Would you like that?
“Yes.”
Also, we price all of our services upfront so you know exactly what our bill will be and can make a decision on if you want us to proceed with the work. Does that sound fair?
“Absolutely!”
So are you interested in making the transition to our firm?
“I am.”
At this point, we requested the prior two years of tax returns and access to his books, so that we could evaluate what exactly needed to be done for us to help One Creation Construction.
$1M in Tax-Savings PLUS $1.2M in Profits
Once we dove into Jim’s records, we unearthed a mountain of opportunity! Specifically:
-
-
- We felt that we could substantially reduce his tax liability (assuming no growth) by nearly $250k over a decade. If he continued to grow at half of his current rate, we would be able to save in excess of $1M.
- We identified a significant opportunity for risk reduction. Certain corporate structures are considered “high-risk” to be audited by the IRS. By restructuring his company, we were able to reduce his audit risk by 90%.
- As specialists in the home building space, we identified areas for increased profitability that would increase his income by nearly $70,000 in year one and would result in an additional $1.2 million in profits over the course of a decade.
-
But you’ll be surprised by Jim’s response…
Accountants Miss This All The Time!
As we met with Jim and reviewed these opportunities, we could see he was growing a bit upset.
Upset?!
We took the opportunity to ask him why.
To which he replied: “I just do not understand how my accountant could have missed all of these things for so long. I am so happy I met you guys, but so pissed that I never knew all this!”
We explained to Jim that this is something we see all the time because:
-
-
- Most accounting firms are “generalists”. They work with anyone: $125 personal returns, professionals, manufacturers, etc. They are “jacks of all trades and masters of none”. We are 4th generation home builders and exclusively work with home builders or construction companies. We know the building industry better than most. Plus, we never get stretched thin by having to “keep up” with IRS tax law for other industries (professional services, manufacturing, etc).
- Many accounting firms feel their job is to “do your taxes”. It is a lazy business model. They never look for ways for you to improve. One of our core values as a business is to always seek ways for our customers to improve.
- For the accounting firms that do find ways to improve. They often do a poor job of explaining why changes should be made and what the benefits are. As builders ourselves, we know what is important to you and can explain in plain English why to do it.
- Many accountants never propose new ideas because they are afraid that you will not want to pay for these changes. As I mentioned to Jim in the field, all these changes will be priced upfront and it is “ok” for Jim to say “no”. We will never make that decision on his behalf.
-
In our first year of working together, we were able to save Jim over $100k in taxes. We have restructured his business to reduce the likelihood that he would be audited.
How’d we do it?
Without going into all the eye-glazing details, here’s a high-level overview what we did for Jim:
-
-
- Corporate Structure. We reviewed the actual corporate structure that Jim’s business was set up with. There are many different kinds (sole proprietorships, corporations, s corporations, partnerships, UBO, etc) and they all have different tax treatments. Depending on the business, some are better suited than others. We elected to change his structure for significant tax and risk management benefits.
- Tax Minimization. We evaluated what tax laws, deductions, and deferrals could be utilized to minimize his tax bill. The US tax code is the second most complex in the world (#1 is Brazil). We have an extensive review process to identify missed and underutilized tax minimization opportunities.
- Benchmarking Profitability. As certified NAHB trainers we evaluate the profitability of all our customers and compare how they are doing to the rest of the home-building or construction industry. We commonly see new home builders with gross profitability of 10%-15% when they should be closer to 25% to 28%. There are many factors that can lead to this: lack of knowledge, confusing mark-up and margin, not tracking project costs, etc. We were able to determine that Jim (while very profitable) had room for improvement and have been advising him on strategies to increase profits.
-
We are now focused on helping him grow and look forward to seeing the results happen.
P.S. Is Now The Time For You To Switch Accountants?
You could stick with your current accountant, and potentially give $1Ms more to the IRS and lose even more in profits.
Book a free consultation now because fairly quickly, in plain English, I tell you whether:
-
-
- Your current accountant is dropping the ball by leaving $100K to $10M on the table for the IRS, your company structure is a high-risk for an audit, and you’re missing opportunities for profits. Or….
- In the rare cases, we discover your accountant is doing an awesome job with your taxes, company structure, and growth strategy.
-
If you’d rather not, I understand, I appreciate you reading this far!
About The Author
Do You Know Anyone Who Could Benefit From This Case Study?
Because I’d really appreciate you sharing this case study with your home-builder and construction industry colleagues, family and friends.
“NB Advisors has been a great partner in taking a proactive look at our accounting. They present us with new ideas to help us grow and protect what we have worked so hard to build.”
Bruce Paparone
Founder & CEO of Bruce Paparone Communities
![image22-1 image22-1](https://nbcpa.us/wp-content/uploads/2019/11/image22-1-1.png)
Yes, We Offer Small Business Accounting in Richmond, Virginia
Henrico, VA
Glen Allen, VA
Mechanicsville, VA
Midlothian, VA
Chester, VA
Ashland, VA
Bon Air, VA
Tuckahoe, VA
Highland Springs, VA
Lakeside, VA
East Highland Park, VA
Short Pump, VA
Varina, VA
Sandston, VA
Laurel, VA
Dumbarton, VA
Bellwood, VA
Brandermill, VA
Woodlake, VA
Montrose, VA
Manchester, VA
Innsbrook, VA
Meadowbrook, VA
Bensley, VA
Chamberlayne, VA
Wyndham, VA
Kings Charter, VA
Ashcake, VA
Atlee, VA
Studley, VA
NB Advisors, LLC in Richmond is near Maymont which is close to Bellevue, Bon Air, and Museum District. Virginia State Capitol, Altria Theater, and Richmond Raceway are also nearby.
Other locations we serve:
FAQs
Is it worth it to hire an accountant for a small business in Richmond?
Yes, hiring an accountant for a small business in Richmond is worth it. They provide essential services like tax compliance, financial analysis, and strategic planning, ensuring accurate financial management and helping the business grow.
What is small business accounting?
Small business accounting involves tracking, recording, and managing financial transactions, preparing financial statements, ensuring tax compliance, and providing financial analysis and advice to support the business’s financial health and growth.
What does CPA stand for in accounting?
CPA stands for Certified Public Accountant. A CPA is a licensed accounting professional who has passed the CPA exam and met other state-specific requirements, providing expert financial advice, tax services, and auditing.
At what point should a business in Richmond get an accountant?
A business in Richmond should get an accountant when it starts generating revenue, faces complex tax issues, requires financial analysis, or when the owner lacks the time or expertise for effective financial management.
What is the difference between a bookkeeper and an accountant?
A bookkeeper handles daily transaction recording and maintains accurate financial records. An accountant analyzes this data, prepares financial statements, offers tax advice, and provides strategic financial planning and insights.
What type of accounting is best for small business?
Accrual accounting is often best for small businesses as it provides a more accurate picture of financial health by recording income and expenses when they are incurred, not when cash is exchanged.
Can I do my own small business accounting?
Yes, you can do your own small business accounting, especially with the help of accounting software. However, professional guidance is recommended for complex tasks, tax compliance, and strategic financial planning.
Do small business owners do their own accounting?
Many small business owners handle their own accounting initially, especially with the help of accounting software, but often seek professional help as their business grows to ensure accuracy and compliance.
Is QuickBooks good for small business?
Yes, QuickBooks is highly regarded for small businesses. It offers user-friendly accounting software that helps with transaction recording, financial reporting, invoicing, and tax preparation, making financial management easier.
Do accountants prefer QuickBooks?
Yes, many accountants prefer QuickBooks due to its comprehensive features, ease of use, and widespread adoption. It facilitates efficient collaboration with clients and streamlines various accounting tasks.
1 Fun and 1 Interesting Fact About Richmond
![richmondnightmarket-1000×618-1-1 richmondnightmarket-1000x618-1-1](https://nbcpa.us/wp-content/uploads/2024/07/richmondnightmarket-1000x618-1-1.jpg)
![sli-19-002-acwm-interior-0334-1-1 sli-19-002-acwm-interior-0334-1-1](https://nbcpa.us/wp-content/uploads/2024/07/sli-19-002-acwm-interior-0334-1-1.jpg)
Richmond is known for its vibrant and diverse food scene, making it a fun destination for culinary enthusiasts. The city’s numerous restaurants, food festivals, and farmers’ markets showcase a wide array of flavors, from Southern comfort food to innovative fusion cuisine. One fun spot is the Richmond Night Market, where visitors can enjoy local food, crafts, and live music in a lively atmosphere. An interesting fact about Richmond is its rich historical significance as the capital of the Confederacy during the American Civil War. The city is home to numerous historical landmarks and museums, including the American Civil War Museum and the Virginia State Capitol, designed by Thomas Jefferson. These sites offer deep insights into the nation’s history, providing a compelling exploration of Richmond’s role in shaping the United States.
Richmond Small Business Accounting Resources
10306 Eaton Place Suite 180
Fairfax VA
22030
(703) 277-7703
What is the Virginia Society of Certified Public Accountants (VSCPA)?
![virginia-hero-color-logo-new2019-1 virginia-hero-color-logo-new2019-1](https://nbcpa.us/wp-content/uploads/2024/08/virginia-hero-color-logo-new2019-1.png)
The Virginia Society of Certified Public Accountants (VSCPA) is a professional organization dedicated to supporting CPAs and accounting professionals in Virginia. With over 13,000 members, the VSCPA offers continuing professional education, networking opportunities, and advocacy efforts. The organization helps both aspiring and practicing CPAs with career development resources and guidance on licensure requirements. Additionally, the VSCPA advocates for the accounting profession at the legislative level, ensuring that members’ interests are represented and protected within the state.
![virginia-hero-color-logo-new2019-1 virginia-hero-color-logo-new2019-1](https://nbcpa.us/wp-content/uploads/2024/08/virginia-hero-color-logo-new2019-1.png)
![vboa_logo-svg.1 vboa_logo-svg.1](https://nbcpa.us/wp-content/uploads/2024/08/vboa_logo-svg.1.png)
What is the Virginia State Board of Accountancy?
The Virginia Board of Accountancy (VBOA) is the regulatory authority responsible for licensing and overseeing certified public accountants (CPAs) and CPA firms in Virginia. Established in 1910, the VBOA ensures adherence to professional standards through examination, licensure, continuing professional education, and enforcement of ethical practices. It operates under the authority granted by the Code of Virginia and the Virginia Administrative Code. The VBOA’s mission includes protecting the public by ensuring that only qualified individuals and firms practice public accountancy in the state.
Richmond, VA Local Resources
Top Companies in Richmond, VA
More About Small Business Accounting in Richmond, Virginia
Richmond, the capital of Virginia, is a city rich in history and cultural significance. As of the 2020 census, it has a population of approximately 226,610 residents. The city covers about 62.5 square miles and features a mix of urban, suburban, and historic neighborhoods. Demographically, Richmond is diverse, with around 46% of the population being African American, 45% White, 7% Hispanic or Latino, and 2% Asian. The median age in Richmond is about 34 years, reflecting a balanced mix of young professionals, families, and older residents.
Residents of Richmond enjoy a vibrant cultural scene, with numerous museums, art galleries, and theaters contributing to the city’s lively atmosphere. The James River offers recreational opportunities, while various parks and green spaces provide residents with ample outdoor activities. Richmond’s economy is diverse, with strong sectors in finance, law, government, and education, anchored by institutions like Virginia Commonwealth University. The city’s historic charm, combined with its modern amenities and a strong sense of community, makes Richmond a dynamic and appealing place to live for people of all ages and backgrounds.
Small business accounting in Richmond, Virginia, is essential for the city’s diverse and thriving entrepreneurial landscape. Richmond is home to a wide range of small businesses, including restaurants, retail shops, professional services, and tech startups. Local accounting firms provide crucial services such as bookkeeping, tax preparation, payroll management, and financial planning. These services help small business owners maintain compliance with financial regulations, manage their finances effectively, and make informed decisions to foster growth and sustainability.
The supportive business environment in Richmond includes a network of accountants who offer personalized financial solutions tailored to the specific needs of each business. These professionals assist with everything from startup financial planning to ongoing financial management, helping businesses navigate challenges and capitalize on opportunities. By providing expert advice and support, local accountants play a vital role in the success and resilience of Richmond’s small businesses, contributing significantly to the city’s economic vitality and community development. Their expertise ensures that small businesses can thrive in a competitive market, driving innovation and growth within the Richmond area.
NB Advisors, LLC works with small businesses to minimize their tax burden and grow their profits. Offering tax planning and accounting services in the greater Richmond area, we work proactively for you. Our clients love our quick response time, fixed fees, and our innovative solutions.
Your Next Steps
Book a Free Consult | ![]() |
We’ll review your immediate needs and provide a course of action to help you save money on taxes and grow your business.
Read the Case Study | ![]() |
See how one business owner unlocked $1M in capital.
Consult with a Small Business Accountant in Richmond Today.
![small-business-accountant-philadelphia small-business-accountant-philadelphia](https://nbcpa.us/wp-content/uploads/2020/08/small-business-accountant-philadelphia-1.png)