Certified Registered Nurse Anesthetists
Outsourced Accounting & Profitability Consulting Services for CRNAs
At Finances Simplified, we deliver tailored financial solutions to Certified Registered Nurse Anesthetists (CRNAs) who operate as independent business owners, addressing the unique challenges of managing a demanding profession alongside the complexities of running their own entity. With our team of experienced CPAs, accounting professionals, and partnerships with wealth managers and tax experts, we offer comprehensive services in bookkeeping, tax consulting, tax preparation, and retirement planning, all designed to simplify your financial life and enable you to focus on your practice and personal priorities. Working seamlessly as one team, you’ll gain proactive strategies to maximize tax savings, optimize cash flow, and secure a brighter financial future. Let us streamline your financial processes so you can spend less time on administration and more time achieving your goals.
Entity Structuring for CRNAs
Under certain circumstances and income levels, operating as an S Corporation can offer tax advantages for independent CRNAs but comes with added compliance requirements, like payroll setup and filing a separate tax return. Our tax expert partners provide detailed analyses to help you determine if the tax savings outweigh the additional costs, ensuring an informed entity selection decision.
Maximizing Tax Deductions
Our CPAs and partnered tax professionals educate CRNAs on allowable business deductions, ensuring clarity on what qualifies. By understanding deductible expenses like insurance, continuing education, travel, meals, home office, etc., we help minimize tax liabilities while keeping you fully compliant with tax laws.
Retirement Planning for CRNAs
Through our partnership with Antolino & Associates, expert wealth managers craft personalized retirement strategies designed to maximize contributions to tax-advantaged accounts like solo 401(k)s and IRAs. These strategies help build long-term wealth while reducing taxable income, aligning with your financial and tax-saving goals.
Revenue and Cash Flow Management
We create customized dashboards that track historical cash flows and project future trends based on your business’s unique patterns. This forecasting tool helps you anticipate tight cash flow periods, identify investment opportunities, and make timely, informed financial decisions to support stability and growth.
Efficient Bookkeeping Solutions
Our cloud-based bookkeeping systems integrate seamlessly with your bank accounts, automating income and expense tracking. Each month, your financial management reports—including profit and loss statements, balance sheets, and custom metrics—are prepared and reviewed by a CPA, ensuring accuracy and providing you with a clear view of your business’s financial health.
Audit Support and Risk Minimization
We guide CRNAs on maintaining proper documentation for deductible expenses, ensuring compliance with IRS requirements. Using digital tools to capture receipts and records, we reduce audit risks. Should you face an audit, our partnered tax experts provide full support to safeguard your interests.
Quarterly Tax Planning and Filing
Our tax partners help CRNAs comply with safe harbor rules by providing accurate estimated tax payments to avoid interest, penalties, and surprises. They also offer ongoing tax planning as your circumstances evolve and handle federal and state tax filings for both your business and personal returns.