A Landscaping Client Saved $20,000 in Taxes and Deferred Over $500,000 of Taxable Income
SVA completed Barnes, Inc. tax returns at year end and saved $20,000 in unnecessary tax expenses, while also allowing the company to defer payment of taxes in excess of $500,000. As a result, Barnes’s cash flow was helped in a slowing economy.
Since its founding in 1981, Barnes, Inc. has grown to over 125 employees with annual sales exceeding $6 million. Barnes offers a full range of landscape, lawn maintenance, fertilizer and weed control, snow removal and holiday lighting services for commercial and residential properties.
“I was looking for a firm that was a good fit – personality wise – with our core group of managers, stated Mark Barnes, President/CEO of Barnes, Inc. “We needed someone to mentor our managers so they would be able to reduce the costs that were within their control – labor and materials – and manage costs – gas and salt – that they cannot control but that affect our profitability. I also was looking for a firm with forward-looking tax planning strategies. Finally, I needed a firm that could help us with succession planning as we transition to new ownership in the next few years.
“We have not been disappointed,” confirmed Barnes. “We have monthly managers' meetings with our SVA principal to review performance, as well as to institute changes to improve bottom-line income. He has become an invaluable resource for us, as has SVA as a firm. We know where to go to get answers to our questions.
“SVA has become a tremendous asset to our company in a very short time, and we look forward to a long and mutually beneficial relationship,” concluded Barnes.