CPA Services in Baltimore, MD | Scott Melcher, CPA
Services We Offer:
Tax Planning & Preparation
Tax planning and preparation can be stressful, so hiring the right CPA in the Baltimore area can make all of the difference.
That’s why we help high-net-worth individuals make the most out of their available deductions by getting to know their business from the inside out.
Nobody wants to pay taxes, which is why we’ll help you minimize your taxes so you’ll have more money to invest in your business.
Here’s how we work:
- It all starts by doing a deep-dive into your business, goals, and concerns.
- Identify the best methods to reduce your taxes & maximize your deductions.
- Explore all potential business deductions that were not identified in prior years.
- Determine your overall tax liability so you can rest assured there will be no unpleasant surprises while filing your taxes.
By working with us, you’ll be getting:
- Access to a trusted tax & business advisor with over 30+ years of experience.
- A former CFO of a multi-million-dollar company that understands how to improve a business’s cash flow and profitability.
- A timely & accurate tax return at a reasonable cost, leading to less anxiety, stress, and uncertainty with your business.
Accountant & Bookkeeping Services
We offer accountant and bookkeeping services to businesses and individuals in the Baltimore area.
These services include:
- Maximizing your PPP loan forgiveness amount.
- Real-time financial reporting to help you make informed business decisions and stay current on the finances and profitability of your company.
- A review of your bookkeeping and accounting processes to maximize efficiency while reducing costs.
- Set up bookkeeping and accounting systems for automation & organization.
- Budgeting and planning to improve cash flow, quickly identify areas of concern and make calculated adjustments based on projections versus performance.
Business Advisory Services
Running a business efficiently and effectively is hard. That’s why we offer business advisory services to clients in the Baltimore area to:
- Improve profitability
- Advise startup companies with entity structure, filings, and business & financial matters
- Business and strategic planning for future growth
- Create financial packages to secure financing
- Design employee benefit and compensation packages
- Help manage your business
We Specializing in Helping:
Privately owned businesses, startups, and high-net-worth individuals.
We specialize in helping professional service-based companies such as physicians, dentists, lawyers, and consultants along with manufacturers and trade services.
So Why Should You Work with Us?
Scott Melcher has over 30 years in tax, business advisory, and business management services.
- 16 years as a partner for a national CPA firm
- 16 years as a CFO for a large privately owned business
As a CFO, Scott oversaw 20% growth over 3 years and reduced operating expenses by $1.6 million. This was all accomplished by reducing costs, increasing automation, optimizing workflow efficiencies, renegotiating contract rates, and securing new financing arrangements for equipment expansion and replacement.
Scott also has in-depth experience with:
- Submitting PPP loan forgiveness applications that resulted in 100% loan forgiveness.
- Accurately filing and minimizing the liability for 6 years of prior year business and personal tax returns not previously filed for a client.
- Preparing financial packages to secure favorable financing for commercial real estate.
A Message from One of Our Awesome Clients…
““Mr. Scott Melcher has been my CPA for over two decades.
Through all the years of working together, Scott has been more than just my accountant, he has been a trusted advisor, and he has been immensely valuable in strategic decision making to ensure my businesses’ success.”– Dr. Jay Greenstein, CEO & Founder of Kaizo Health Group
FAQ: Answers to Some of Your Most Common Questions
How do I minimize my taxes?
There is an entire array of variables to take into account when trying to minimize your taxes.
To pay the least amount of taxes possible, you’ll need to consider:
- Deferring income such as salary deferrals, retirement & IRA contributions, HSA funding, and timing of capital gains & losses.
- Optimizing tax deductions and tax credits.
- Making sure all tax laws are effectively applied.
- Hiring an experienced tax professional that can get results like Scott Melcher.
What type of entity should my business be?
Consider these factors when deciding the type of legal entity for your business:
- Tax treatment
- Liability exposure
- Number of owners
- Business purpose
- Industry type
- Owners compensation and benefits
- Cost to create and complete annual filings
- Future capital needs
What if I haven’t filed tax returns for prior years?
The risks aren’t worth your peace of mind.
It’s crucial to remember delaying the filing of your taxes increases your costs and potentially the IRS can seize your assets, so you should act quickly to avoid these consequences.
But if you do find yourself in this predicament, you should:
- Gather up all of your documents, data, and information.
- Make sure all of the information is available to file a complete and accurate return.
- Identify all available deductions and tax credits.
- Accelerate deductions and defer income.
If you’re unable to pay your owed taxes in full, the IRS has payment programs for taxpayers that cannot pay their tax liability.
What type of expenses can I deduct?
You can deduct any reasonable and necessary business expenses.
A necessary business expense is a cost that is related to or associated with your business.
There are various itemized deductions and potential adjustments to reduce your taxable income.
How can you help my business be more profitable?
It all starts with understanding your business from the inside out.
We analyze all of your expenses to look for cost savings.
Review your revenue and collection policies to find areas for improvement.
After that, we’ll implement a budget to improve cash flow and identify areas of financial underperformance.