gsimons

Gregory Simons

About Gregory Simons

Greg has been an accounting professional since 1988, having worked for two Big Four accounting firms as an auditor and manager for special projects for six years. He also worked for a Fortune 500 company as an Internal Auditor for over a year. In 1995, Greg founded Simons Bitzer & Associates and has focused his time on providing services to small and medium-sized businesses in central Indiana. He has served as Chief Financial Officer for several organizations and specializes in working with tax agencies to resolve difficult tax matters. Greg started his own firm as a result of his passion to provide business consulting to busy entrepreneurs. He knows a business must have accurate books and financials in order to understand the pulse of their business. He also enjoys assisting with the firm’s business development efforts. Greg is married and has two daughters.

Five Reasons to Incorporate Your Business

As your business grows, you may want to consider the benefits of incorporating.  Many start a new venture with no thought about the legal structure for their business. The IRS considers “sole proprietor” to be the default structure in which your business profits are taxed on your personal tax return. While this can serve

Views – 266

By |July 12, 2017|

Good Debt, Bad Debt: What’s the Difference?

Before incurring debt, ask yourself the following two questions.

Does taking on this debt offer any benefits? One might think the best advice would always be to avoid debt. Your financial situation, however, can be enhanced by good debt. A higher salary, for example, may be a result of loans taken to fund a college

Views – 703

By |August 29, 2016|

Lack of Diversification Makes for Risky Business

Don’t put your business at risk by relying on too few customers, vendors or key employees.  To ensure your business is adequately diversified, consider the following:

Customers. Being dependent on only a few customers for the majority of your sales could cause trouble.  Imagine what will happen if your largest customer requests a major price

Views – 939

By |March 28, 2016|

How to Reduce Inventory Risk in Your Business

Examine the balance sheet of most retail or manufacturing businesses, and near the top of the asset list you are going to find inventory.  Raw materials, supplies, work in progress, and finished goods are all included in an accountant’s definition of inventory.  This includes merchandise that managers expect to sell in the normal course

Views – 931

By |December 22, 2015|

Before a Disaster Strikes, Safeguard Your Records

Disaster-how do you plan for it? We never know when they will strike. You can decrease the impact of a disaster if you do some planning. Do not wait. Instead of having to reconstruct personal and business records in the aftermath of an unexpected calamity, safeguarding documents before you suffer a loss will make

Views – 773

By |August 10, 2015|

2014 Tax Extenders are Officially Enacted into Law

As of Friday, December 19, President Obama signed the Tax Increase Prevention Act of 2014 into law. This includes tax extenders for both individuals and businesses. The extensions expire as of December 31, 2014. What will happen for 2015 remains to be seen, but if recent history is any indication, Congress will wait until

Views – 1061

By |December 29, 2014|