Boost Your Financial IQ at MEDB Workshop

(Left to right) Lisa Wells, Anastasia Winslow and Chelsea Smith will help boost your financial IQ. Courtesy photo.

By Maui Now Staff

The Maui Economic Development Board will offer “Boosting Your Financial IQ”  on Wednesday, July 15, at the Malcolm Center in Kihei as part of MEDB’s Technical Assistance Series.

Registration will be held from 9:30 to 10 a.m., the seminar will run from 10 a.m. to noon, lunch is from noon to  12:30 p.m. and breakout sessions will run from 12:30 to 2 p.m.

The workshop offers an opportunity for business owners to receive advice from accounting experts on how they can improve their business’s efficiency, promote good accounting practices and ultimately save on their taxes.

The experts include Lisa Wells, Anastasia Winslow and Chelsea Smith of Personal Accountant Inc.

Wells is an IRS enrolled agent, CEO/founder of Personal Accountant Inc. and a ProAdvisor for Intuit Quickbooks software and online accounting. Her practice focuses on business review, tax planning and organization.

Winslow is a registered tax return preparer and president of Personal Accountant Inc. She concentrates her practice on income taxation for individuals and business. She is cross-trained in Quickbooks online and desktop versions, and is experienced in business setup, financial statement preparation, payroll and general bookkeeping.

Smith is also a registered tax return preparer and associate in the accounting and general excise tax department at Personal Accountant Inc. She concentrates her practice on Quickbooks accounting–both online and desktop versions–and also works remotely for Quickbooks support. Expertise extends to Quickbooks setups, conversion, correction and syncing with third party programs.

Workshop Topics

• How do I read a financial statement?
  How can I use financial statements to plan?
  How do my financial statements affect my taxes, both business and personal?
  Is my business set up properly? How do I know when to upgrade?
  What is the difference between different entity types (sole proprietorship, partnership, corporation, LLC)?
  In my accounting program, how should my chart of accounts look?
  What does all of it mean for my accountant, CPA, and tax professional?

Following lunch, three breakout sessions will be offered in which attendees can ask questions specific to their business. Experts will provide input on accounting books (what you and your bookkeeper should be doing), financial statements (how to read it, how to change it to fit your needs) and business setup (annual registration, converting your business).

Attendees are encouraged to bring a recent personal and business tax return, and a financial statement to get the most out of the session.

MEDB’s Technical Assistance Series was created in an effort to help small businesses establish strong systems, processes, tools, and best practices to build a solid foundation for success.

“Having a strong foundation in place will give businesses a competitive edge,” said Frank De Rego Jr., director of Business Development Projects at Maui Economic Development Board. “Over time, this can help businesses reduce taxes, lower costs, improve services, and give team members more time to focus on growth strategies and customer care. Ultimately, these strategies will help businesses succeed.”

Register online for the Boosting Your Financial IQ workshop or contact Frank De Rego Jr. at MEDB by calling (808) 270-6807 or via email.

The Boosting Your Financial IQ” workshop is sponsored by the County of Maui, Maui Economic Development Board and Personal Accountant Inc.

The MEDB Malcolm Center is located at 1305 N. Holopono St., Ste. 5 in Kīhei.