Small business owners and start ups often get bogged down over finance, tax, or accounting questions that are easily and efficiently answered by a CPA that deals with them daily. It is rarely cost effective for small businesses to have a full-time CFO on staff, but they still need the consistent and periodic advice of a specialist in these areas.

McNamara Financial Services LLC (MFS) is a CPA firm that specializes in fractional CFO services for those businesses that have owners that are good at their jobs, but need financial advice. Common areas that we address:

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• Analysis of financial information for maximizing profits

• Income tax, sales tax, and franchise taxes compliance

• Budgets

• Minimizing income taxes

• Cash flow management

• Risk management

• Employee benefits

• Accounting

• Payroll

• Bill Pay

Cloud based accounting systems and AI have simplified accounting and bookkeeping in many ways, but it has also introduced a level of complexity that can be costly for those who are not fluent in these areas. MFS has a highly efficient accounting and payroll department for small businesses, estates and trusts.

We provide consulting and advice on the accounting, tax and administration of estates and trusts. The formation of an estate requires that executors and other responsible individuals to adhere to specific duties and have specialized knowledge in multiple areas. We help coordinate the collaborative effort needed to efficiently manage an estate. We can also provide litigation support in the areas of estate accounting and tax.

There are many different types of trusts out there and each has its own purpose and requirements. Each can also have special accounting and tax issues that need to be addressed by their trustee. Because a trustee takes fiduciary responsibilities when they administer a trust, it is prudent that they utilize the advice and input of professionals. This is an area that we work extensively in and can provide a trustee with help in the accounting and tax issues involved.