2024: A New Year for Back Office Accounting

As the confetti settles and we ring in 2024, it's time to turn our attention to the year ahead. For back-office accounting teams, 2024 promises to be a year of exciting changes and new opportunities.

Here are some of the key trends we can expect to see:

1. The Rise of the Hybrid Accountant

The traditional image of the accountant hunched over a desk is fading. In 2024, we'll see more accountants working remotely and collaborating with colleagues like TP4 Advisors. This hybrid model requires new skills and tools, such as cloud-based accounting software and video conferencing platforms.

2. Cybersecurity Takes Center Stage

With the increasing reliance on technology, cybersecurity is becoming a top priority for TP4 Advisors. In 2024, we can expect to see more companies investing in cybersecurity measures, such as data encryption and employee training.

3. A Focus on ESG

Environmental, social, and governance (ESG) factors are becoming increasingly important to investors and stakeholders. In 2024, we will incorporate ESG considerations into our reporting and decision-making.

4. The Human Touch Remains Essential

Despite the rise of technology, the human touch remains essential in accounting. Strong communication, critical thinking, and problem-solving skills will continue to be in high demand in 2024 and TP4 Advisors leads other back office accounting solutions with the knowledge and experience to help their clients like no other.

These are just a few of the trends that are shaping the future of back office accounting in 2024. By staying ahead of the curve and embracing new technologies, TP4 Advisors back office accounting team has positioned themselves for success in the years to come.

Here are some additional tips from our back office accounting team for 2024:

By following these tips, you can be assured that your TP4 Advisors back office accounting team is well-prepared for the challenges and opportunities of 2024.

TP4 Advisors hopes this has given you some food for thought as you plan for the year ahead. If you have any questions, please feel free to reach out to our team and have us provide the back office account solution that meets your company needs.

Reflecting on TP4 Advisors' 2023 Achievements and Looking Ahead to 2024

As we approach the end of the year, I find myself taking a moment to look back at the remarkable journey TP4 Advisors has experienced in 2023.

Here's a snapshot of some key highlights from the past year:

Team Growth: We welcomed 10 new talented members to our team. Discover more about our expanding team here. 

CEO/Owner Events: Our quarterly events, tailored for CEOs and business owners, were well-received. We covered the following topics in 2023: 

We are thrilled to announce that we will continue these insightful gatherings in 2024. 

Back-Office Accounting Services: Continued to assist closely-held businesses with bookkeeping, controller and CFO services to create timely and accurate financial statements that build financial foundations for sustainable growth. New client growth and enhanced services to current clients contributed to a 34% increase in revenue.

Advisory Services: We have successfully completed a number of business valuations and actively engaged in assisting business owners in selling their family-owned enterprises, emphasizing our dedication to finding the “right-fit” buyer for their business.

Looking forward, we are eager to maintain this momentum and achieve similar, if not greater, results in 2024. Our ability to attract exceptionally talented team members continues to be a driving force behind our success.

If you're interested in discovering how TP4 Advisors can assist you in establishing a solid financial foundation for sustainable growth, we invite you to schedule a call today.

Thank you for being a part of our journey, and we look forward to the possibilities that 2024 holds for all of us.

Unlocking Opportunities: A Glimpse into TP4 Advisors

TP4 Advisors is your trusted partner to optimize operations and reduce costs to deliver a solid financial foundation for sustainable growth. With our expertise and focus, we pivot into any industry and deliver strong results.

Industries we serve: 

What we are known for: 

Team Strength: Our team includes 40+ CFOs, Controllers and bookkeepers with 100+ years of combined experience.

Flexibility: Our hours are adjustable based on the needs of your business.

Simplicity of Onboarding: Our onboarding process ensures our team is able to begin support immediately.

Growth Focused: We have our client’s best interest at heart, understanding value and maximizing it to deliver a financial foundation for sustainable growth.

Feel free to contact us with any questions or if you would like to explore how TP4 Advisors can specifically benefit your business. We look forward to the opportunity to connect and discuss potential synergies.

CASE STUDY – RTMC

Overview

RTM Consulting, Inc. ("RTMC"), a firm in Cincinnati, Ohio offering multiple services supporting resource, workforce and project management to companies and professionals worldwide, desired a buyer that would build on its successful 16-year history and provide its employees with ongoing career growth opportunities.

The Challenge

The Situation

The Result

“TP4 Advisors helped RTMC through the M&A process with an experienced team including a professional valuation, development of a comprehensive M&A strategy, and ultimately leading us through a successful sale to a private equity owned firm. Their ‘do what it takes’ approach made a big difference and gave us confidence in achieving our desired outcome.” -- Randy Mysliviec, President and CEO, RTMC

Interested in divesting part or all of your current business? Contact us today for a confidential conversation:

Todd Pfister

Todd.Pfister@tp4advisors.com

513.543.3325

New Hire Announcement: Director of Business Development for TP4 Advisors

We are pleased to announce that Thomas Stokes has joined TP4 Advisors as our new Director of Business Development. 

Thomas brings over 25 years of experience in Business Development and Operational leadership as CEO, COO and President of multiple private and publicly traded manufacturing companies, as well as successfully leading multiple mergers and acquisitions from the buy/sell side.

Prior to joining TP4 Advisors, Thomas worked with established Fortune 100 businesses in aerospace, automotive, defense, consumer products, material handling, agriculture, manufacturing automation and steel industries.

TP4 Partner, Todd Pfister, said, “We are excited to add Thomas to the leadership team here at TP4 Advisors. Thomas will lead our business development strategy and sales team. Thomas understands what business owners and they're executive leadership teams need from a financial perspective. We anticipate Thomas will continue to drive top line revenue growth for TP4 into the future and continue to build on our past success in the Cincinnati market and beyond.”

The entire TP4 Advisors team is committed to helping you create financial foundations for sustainable growth!


About TP4 Advisors Inc 

TP4 Advisors Inc provides comprehensive financial services to business owners ensuring they keep their enterprise running optimally for compliance, performance, organic growth, acquisitions and/or divestiture. For more information, please visit us at www.tp4advisors.com

TP4 Advisors Recognized as Fast 55 Finalist for Region

TP4 Advisors is excited to be recognized among 55 of Cincinnati's fastest growing companies by the Cincinnati Business Courier! 

Awarded to the companies that experience the highest percentage of revenue growth from 2020 to 2022, the Fast 55 program is designed to recognize the fastest-growing private companies in the Greater Cincinnati area. 

TP4’s growth reflects our ability to consistently deliver on our mission to develop financial foundations for sustainable growth for our clients! 

“We are grateful for the commitment of our team members who are dedicated to meeting the needs of our clients. We are thrilled to be recognized for our team’s achievement and look forward to continuing to serve our clients as we all grow together!” said Todd Pfister and Tom Paquette, Partners at TP4 Advisors. 

To see the full list of Fast 55 honorees click here.


About TP4 Advisors Inc 

TP4 Advisors Inc provides comprehensive financial services to business owners ensuring they keep their enterprise running optimally for compliance, performance, organic growth, acquisitions and/or divestiture. For more information, please visit us at www.tp4advisors.com 

Press Contact 
Name: Kayleigh Wagner
Cell: 317-617-4626
Email: kayleigh@crw.marketing
Press Kit

TP4 Advises National Heating and Air Conditioning Company in its Transaction with Heartland Home Services

February 9, 2023, Cincinnati, OH – TP4 Advisors Inc is pleased to announce that they served as sell-side advisor to National Heating and Air Conditioning Company in the successful transition of ownership to Heartland Home Services. 

National is a 90-year old, Cincinnati based family held business that offers comprehensive heating and air conditioning services, connected home technology and a National Trade Academy training center. 

"The TP4 Advisors, Inc. team of Brian Russell and Todd Pfister provided valuable insight with their ability to assist in the successful expedited process while achieving our objectives." said Scott Braun, President National Heating and Air-conditioning company. Braun also added "The heartland home services business model was a great fit for our team to continue leading the local business and have the support of Heartland for growth."

Todd Pfister, Partner of TP4 Advisors, also commented on the transaction: 

“It was great to help a longtime friend, Scott, realize the efforts of his family’s hardwork in a transition that was a win for everyone. Our TP4 Advisors team worked alongside Scott as he evaluated multiple options (strategic buyers and private equity firms executing a rollout strategy) that maximized valuation and created the right fit for his team members.”   

About National Heating and Air Conditioning Company 

National Heating and Air Conditioning offers comprehensive heating and air conditioning services including installation, repair and maintenance services for gas furnaces, boilers, electric heat pumps, geothermal heating systems, air conditioning units, and ventilation equipment.

About TP4 Advisors Inc 

TP4 Advisors Inc provides comprehensive financial services to business owners ensuring they keep their enterprise running optimally for compliance, performance, organic growth, acquisitions and/or divestiture. For more information, please visit us at www.tp4advisors.com 

About Heartland Home Services

Heartland is the leading technology-enabled provider of repair, replacement, and maintenance services for the HVAC, plumbing, and electrical markets in which we operate. The Company operates through dozens of brands across the eastern half of the United States. For more information, please visit us at www.heartlandhomeservices.com. For media inquiries related to this article, please contact Rob Rotondo, VP of Marketing for Heartland Home Services // rob@heartlandhsc.com.

TP4 Advises RTM Consulting in its Transaction with Belcan

January 26, 2023, Cincinnati, OH– TP4 Advisors is pleased to announce that they served as the exclusive sell-side advisor to RTM Consulting in the successful transition of ownership to Belcan.

RTM Consulting is a Cincinnati based company with 14 years’ experience providing strategic and operational advice and training to services companies that assists them in increasing revenues and growing margins through more effective resource management.

“TP4 Advisors helped RTMC through the M&A process with an experienced team including a professional valuation, development of a comprehensive M&A strategy, and ultimately leading us through a successful sale to a private equity owned firm. Their ‘do what it takes’ approach made a big difference and gave us confidence in achieving our desired outcome.” 

Randy Mysliviec, President and CEO, RTMC

Todd Pfister, Partner of TP4 Advisors, also commented on the transaction: 

“Randy was highly motivated to get a deal done, but not just any deal. He wanted the right fit to lead his company into the future, providing his team new opportunities and growth. Our TP4 team showcased its experience and expertise in bringing together the deal. The solid strategy and execution assisted in ensuring Randy received a fair and good deal for a company that he’s nurtured for 14 years!” 

About RTMC 

With over 14 years of deep expertise in resource, workforce, and project management, service business optimization, digital transformation, and skills development, our passion is helping project-based service providers deliver better business outcomes and customer success for their clients.

About TP4 Advisors 

TP4 Advisors Inc provides comprehensive financial services to business owners ensuring they keep their enterprise running optimally for compliance, performance, organic growth, acquisitions and/or divestiture. For more information, please visit us at www.tp4advisors.com

About Belcan 

Founded in 1958, Belcan has become a global technological leader. Today, Belcan has over 10,000 professionals serving hundreds of customers in over 60 locations worldwide.

To better serve customers, Belcan created four business models designed to act as centers of excellence: Engineering Solutions, Workforce Solutions, Manufacturing & Supply Chain Solutions and Government Solutions. Each unit is designed to accelerate the business goals of our customers through unmatched expertise and a commitment to measurable results.

The Importance of a Sound Tax Strategy as a Business Owner

Many things go through your head as you contemplate the pros and cons of starting your own business. Freedom, flexibility, control of your destiny, generating wealth, adding a second income stream, and building a family legacy are all solid drivers for entrepreneurs. As tax season approaches, let’s touch on some sound business ownership strategies that will have you thinking differently about your tax planning.

Do Your Due Diligence

You’ve likely spent time researching various business ownership opportunities such as the proper entrepreneurial startup, independent consulting, buying someone else’s up and running a business (franchise or not), or investing in a franchise opportunity with a new or established franchise brand. While doing this research, remember to consider even the most minor expenses to maximize your tax break. For example, track all your start-up expenses: travel, home office, and incorporation (accounting & legal).

Understand Your Funding Options

Did you know that funding organizations focus on specific types of business models? For example, there are a handful of major players in the franchise funding space who will meet with you at no cost to discuss the best options for you. These options include using your personal savings, home equity lines of credit, Small Business Administration backed loans and even 401(K) Rollover for Business Startup strategies. Keep in mind that business loan payments aren't tax-deductible. When a company receives a business loan, it's not included as taxable income, so you cannot deduct principal loan payments when that loan is repaid.

Filing your taxes can already be a hassle, but tax season looks like torture when you place loans, grants, and subsidized loan payments in the mix. That is why hiring the right tax professionals is essential to help you avoid the headache of tax season.

Hire the Right Tax Professionals Early

Never underestimate the power of certified and seasoned tax professionals. Understanding the complexity of tax codes at the state and national levels can overwhelm us. Add on the nuances of business taxes, and you might be tempted to walk away before you even start. But you would be missing out on all those incredible benefits. The first two professionals recommended when you venture into business ownership are listed below.

Attorney

When starting, there are fundamental differences, especially when forming the correct business entity - S-Corp, LLC, C-Corp. An attorney may be able to help implement tax-smart strategies for creating, buying, selling, or expanding your business. The process is highly complicated, but an attorney already understands the nuances and is prepared to help you, no matter where in your business you are.

Certified Public Accountant

Having a CPA (Certified Public Accountant) on your team, and from the beginning, is key to having a successful tax season. It requires meticulous record-keeping to calculate your costs and prove their accuracy when it comes to tax season. A CPA can help you start right from the beginning. It is essential to understand that CPAs are not accountants. They are licensed to keep current with tax laws to maintain a license in the state they practice.

"You must pay taxes. But there’s no law that says you gotta leave a tip."

–Morgan Stanley Advertisement

The Value of a Good Team

July was a busy month for us. Our oldest son got married then, a week later, my wife and I jetted off to Europe to celebrate my Mother and Father in Law's 60th wedding anniversary.

While traveling our TP4 website had unexpectedly ran into issues - bringing the entire site down first thing on a Monday morning!

Here’s where the value of our TP4 team came in.

Together they efficiently troubleshot, had open communications with multiple team members and worked together to have the issue resolved within less than an hour!

And the best part, I was completely unaware until our team addressed and solved the problem.

Our TP4 team is known for building sustainable financial foundations—but they’re also incredible at facing a challenge and working together towards the solution.

Meet Our Team