Aside from our core services, Bucci and Associates specializes in several other much-needed value
added services for most types of businesses.

Whether you need help with human resources, financing, securing loans, or designing employee benefits packages, Bucci and Associates is here to help you every step of the way.

 

New Business Formation

Ready to start a new business?

Starting a new business can be an exciting and challenging time. We can help you put key pieces in place and develop a plan to avoid typical challenges that many new small business owners make when starting their new endeavors.

We can help you with this process by:

  • Preparing an initial business plan to clarify your marketing, management and financial goals
  • Determining your start-up capital needs
  • Identifying sources of start-up capital and backup if needed
  • Evaluating and quantifying your borrowing power
  • Selecting and putting into place a business structure that fits your business needs
  • Selecting and setting up the right accounting software
  • Preparing a Cash Flow Budget to know how much income you will need the first couple of years
  • Setup a home office so you can maximize your tax deductions
  • Establishing billing and collection procedures
  • Establishing procedures to monitor and control costs
  • Establishing a system of internal controls
  • Preparing and filing all required state and local licenses and permits
  • Preparing and filing your application for your Federal Employer Identification Number
  • Setting up a payroll and putting in place payroll tax filings
  • Complying with employment laws so you don’t have unnecessary fines
  • Identifying your business insurance needs

Cash Flow and Budgeting Analysis

Good cash management can improve a company’s liquidity, reduce costs, and increase profitability. Bucci & Associates can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, estimating financing requirements and budgeting accordingly. To a business entity, cash flow is something that can determine whether a business is able to survive. Bucci & Associates can help you analyze your spending, rebalance your budget and/or debts for an optimal cash flow to support your business’ success.

Financial Forecasts and Projections

Financial forecasts are prospective financial statements that present an entity’s expected financial position and the results of its operations and changes in its financial position. They are based on assumptions reflecting conditions it expects to exist at a time in the future.

Financial projections are prospective financial statements that are based on hypothetical assumptions, and present an entity’s expected financial position, results of operations and changes in financial position based on those assumptions. A projection is sometimes prepared to present hypothetical courses of action.

Businesses are often required to prepare forecasts or projections and should always operate with a budget. We can help you prepare these reports for internal purposes to develop a course of action such as a move to a new location or to purchase or discontinue a business. We can also help you prepare these reports to support a bank financing application or to meet the terms of your current banking agreement.

The budgeting process is often broken down into component parts such as a budget capital expenditures, or for sales, a budget for costs – purchases, hiring employees, scheduling production, so that arranging for the supply of sufficient cash can be planned and available at the appropriate time. Using budgets allow management to predict the results of a specific course of action and compare the results to what actually happens. This can be very extremely useful, because management can change the strategy sooner rather than later.  

Strategic Business Planning

A Strategic Business Plan is a blueprint describing your company, its products, the competitive environment, management team, financial health and business risks. It is intended to help you prepare for the future of your business. It ensures that key lenders are all “on the same page,” and keeps both management and employees focused on the tasks at hand.

A strategic business plan is considered necessary when a business decides to:

  • Start a new venture, product or service
  • Expand a current organization, product or service
  • Buy a new business, product or service
  • Salvage a declining business

This plan is a guide so that businesses can:

  • Identify and describe the target customer profile, features, advantages and benefits of your new venture, product or service.
  • Justify that your plans are credible by fully researching the need being filled with your new venture.
  • Develop marketing plans including full descriptions of targeted promotional campaigns with implementation timelines. You also get to examine market conditions, the nature of your customers, as well as your competitors, sales potential, and projected results of your promotional campaigns.
  • Develop staffing plans including identifying the key players, skills, attitudes and expertise needed to build the venture.
  • Set up management plans including full descriptions of management systems and timelines for implementation.
  • Indentifying building and equipment needs including vendors and cost estimates.
  • Formulate company milestones including timelines for upcoming products and services in development.
  • Develop financial plans including projected startup costs, operating costs, revenue, profits, and break-even analysis for the first 3 to 5 years.
  • Following a thorough business plan with projected financials can allow you to effectively foresee upcoming problems or prevent them. It can also be a predictor of your company’s future success. Let us help you develop a powerful Strategic Business Plan that drives your business to the next level.

Succession Planning

If you own a family business, retirement isn’t simply a matter of deciding not to go into the office anymore. You’ve got some critical questions to answer like…

“What happens to my business when I am no longer running it?”

“Will I have enough money to retire?”

The family dynamic complicates the whole transition because of the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death, and financial affairs.

Comfortable or not, succession planning should be a priority for any family business considering that more than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord – or both. Creating a strategic exit plan will make the transition to the next phase of your life much easier–for both you and your employees and ensure the survival of your business from one generation to the next.

Bucci and Associate can help you with some of these key things:

  • Keeping it in the family. Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
  • Who’s going to run the business when you’re gone? Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they’re actively involved in the business or not.
  • Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.
  • Making it fair. Transferring family ownership often adds a tremendous amount of stress to individual family members. We talk with each of the family members to ensure that they feel they are getting an equitable and fair share of the pie.

Succession planning can be the most important part of your exit strategy, especially in a family-run business. We can help you develop a succession plan and/or a general exit plan that is fair to all participants, has a targeted timeline, and maximizes the value of the business.

Litigation Support

Our Litigation Support Services Group provides a broad range of value-added services to attorneys and their clients including early case analysis and strategy, analysis of complex financial, accounting, and tax matters, assistance with discovery and witness questioning, review of opposing expert reports, and preparation of detailed reports. We are experienced in the courtroom and provide expert witness testimony when necessary.

Our detailed analysis and fully documented reports have assisted attorneys and their clients to achieve favorable outcomes in complex litigation matters. We realize that in order to achieve success, responsiveness and effective communication both inside and outside the courtroom is critical. We work closely with attorneys throughout the engagement to communicate our analysis and findings and to ensure effective case development.

Specifically, our litigation support team will:

  • Conduct financial and accounting investigations to uncover the business realities under dispute.
  • Identify key financial and business facts that support or contradict legal arguments.
  • Determine which concurrent actions or events caused damages and quantify their monetary effect.

Through gathering and organizing relevant data, performing research and preparing schedules and reports in support of our findings, clients receive objective and accurate assistance in areas of:

  • Bankruptcy and reorganization
  • Business interruption/loss of income
  • Business valuation
  • Compensation analysis
  • Contract disputes
  • Earn out calculations
  • Estate administration damages
  • Fraud investigations
  • Forensic accounting
  • Healthcare regulatory compliance
  • Healthcare self-disclosure reporting
  • Insurance claims
  • Litigation support for mediation and arbitration
  • Lost earnings and profits
  • Mergers and acquisitions due diligence
  • Unreasonable business expense claims

Bucci and Associates offers a team approach, gathering the strengths of several team members in order to best represent the case. We have extensive expertise across all industries, including nonprofit, governmental, healthcare, software, construction, hospitality, banking, insurance and more.

 

Estate and Medicaid planning

We work with Estate and Medicaid planning professionals to minimize taxes, safeguard assets, plan for the transfer of assets, create estate plans, and Medicaid Planning.

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