How much does Corridor Consulting Cost?
Small business owners in Cedar Rapids, across Iowa and nationwide face countless daily challenges—from managing cash flow and staying compliant with tax regulations to making strategic decisions without a full financial team. You’re an expert at running your business, but navigating complex accounting requirements, payroll management, and financial planning can feel overwhelming when you’re already wearing multiple hats.
The question that keeps many business owners up at night is simple: “Can I afford professional accounting help, and what will it actually cost me?
Foundation
- Clean Books & Reporting
- Business Tax Preparation
- Payroll Setup, Employee Onboarding & Processing Support
- Advisory (regular phone, email, and meetings)
- QuickBooks Online / Xero tech support
- Relay Online Business Banking & Expense Management
Table of Contents
What determines your investment?
Transaction Volume
One of the largest factors in determining your monthly investment is the volume of your business transactions you have each month.We incorporate the number of transactions from bank accounts, loans, checks, debits, and credit cards to determine your monthly rate.Transaction volume is a key metric - as the process of recognition and classification of transactions, directly impacts the preparation and review of financial statements and account reconciliations that meet IRS audit standards, and your fiduciary duty to shareholders and partners.
- How many bank transactions do you have per month?
- How many credit card transactions do you process?
- Do you have multiple revenue streams or income sources?
- How many vendor payments and bills do you handle?
- Do you process payroll regularly?
- Do you reconcile your bank accounts monthly? (The IRS expects complete reconciliations)
- Do you reconcile credit card accounts monthly?
- How many cash accounts need monthly reconciliation?
- Are you mixing personal and business transactions? (The IRS actively looks for commingling)
- Do you use payment processors like Stripe, PayPal, or Square?
- Are you inventory-based with frequent purchase orders and cost tracking?
- Do you have project-based billing or job costing requirements?
- The IRS will request bank reconciliations, verify your accounting methods match your operating agreement, and scrutinize mixed personal/business transactions - our monthly review eliminates these audit risks
Complexity of Books
The other large factor in determining your monthly investment is how complex your business situation is. Some common complexities we consider to ensure accurate financials are number of business locations, sales tax, and the number of bank and credit card accounts.
- Does your operating agreement specify your accounting method? (The IRS cross-checks this)
- Are your books and records maintained on the correct accounting method? (Many bookkeepers never request to see operating agreements, and use shortcuts that create audit risks)
- Are your financial records properly reconciled every month? (Unreconciled books make audits extremely difficult and costly)
- Do you have multiple business entities or locations?
- Do you manage inventory or track cost of goods sold?
- How many states are you operating in?
- Do you need to file sales tax across multiple locations or states?
Accrual vs. Cash Accounting Method
- Revenue recognition timing-Do you bill for services before they’re completed, or receive payments for multi-period contracts? Accrual accounting requires revenue to be recorded when earned, not when paid.
- Expense matching requirements – Are you required to match expenses to the periods when related revenue is generated? This requires additional monthly accrual entries and balance sheet management.
- Prepaid expense management – Do you pay for insurance, software, or other services annually? Accrual accounting requires these to be recorded as assets and amortized monthly.
- Complex journal entries – Monthly revenue deferrals, expense accruals, and prepaid amortization entries require additional time and expertise.
- Balance sheet reconciliation – All balance sheet accounts require monthly reconciliation to ensure accuracy of accrued and deferred items.
- Inventory and contract tracking – Businesses with inventory or long-term contracts often require accrual accounting, adding significant complexity to monthly close processes.
- Loan amortization schedules – Proper classification of current vs. long-term debt portions requires monthly calculations and reclassification entries.
Business Entity Complexity
The entity you choose to operate under has very specific tax and legal requirements that must be fulfilled. Often times this adds complexity to the daily accounting and tax filings. Complex profit, loss, and capital allocation percentages between partners or members create additional layers of tracking and reporting requirements. Many business owners learn the hard way they have a fiduciary duty to partners and shareholders. The bookkeeping being correct is part of that duty, as well as accurate tax reporting.
- Complex profit, loss, and capital allocation percentages between partners or members requiring specialized tracking
- Multiple entity structures (parent companies, subsidiaries, holding companies) requiring consolidated reporting
- Operating agreement compliance - ensuring your accounting methods match your legal agreements
- Multi-state operations with varying tax requirements and nexus obligations
- Industry-specific compliance requirements (contractors, healthcare, retail, etc.)
- Shareholder/partner distributions that must be properly tracked for tax basis calculations
- Schedule L and M-1 preparation on correct book basis (not tax basis shortcuts that create audit flags)
- Loan covenant compliance - maintaining financial ratios and reporting requirements for lenders
- Investment and lending profile optimization - ensuring your financial statements support growth financing
Technology Stack
The type of accounting software and technology you use can impact the investment. We specifically work with clients on QuickBooks Online or Xero. You may incur different costs based on integration and management reporting requirements.
- Classes
- Consolidated Financials
- Multi-entity management
- Are you handling restricted cash accounts?
- Profitability tracking & Key Performance Indicators
- Do you file sales tax across multiple locations or states?
What Your Monthly Investment Covers
- Proper classification of all income and expenses according to tax code requirements
- Industry-specific account coding to maximize deductions
- Separation of personal vs. business transactions to prevent commingling
- Cost center allocation for multi-location or multi-service businesses
- Vendor and customer setup with proper 1099 tracking
- Monthly reconciliation of all business accounts to ensure accuracy
- Investigation and resolution of discrepancies or missing transactions
- Outstanding check and deposit tracking
- Multi-account management for complex business structures
- Monthly Profit & Loss statements showing true business performance
- Balance sheets prepared on correct accounting basis per your operating agreement
- Monthly Depreciation Updates
- Cash flow statements for lending and investment decisions
- Comparative reporting (month-over-month, year-over-year analysis)
- Custom reporting for management decision-making
- Balance sheet presented on proper book basis (not tax basis shortcuts)
- Ensures compliance with your operating agreement accounting method
- Protects loan covenants and lending relationships
- Maintains audit trail for IRS examination readiness
- Supports financing and investment applications with accurate data
- Review and implement accounting methods specified in your operating agreement
- Ensure books align with partnership/LLC agreement requirements
- Prevent IRS audit flags from method inconsistencies
- Documentation to support chosen accounting methods
- Ongoing compliance monitoring as business evolves
- Schedule C, Form 1120, 1120-S, or 1065 preparation with all required schedules and attachments
- Proper classification of income, deductions, and credits to minimize tax liability
- Depreciation optimization using bonus depreciation, Section 179, and cost segregation when beneficial
- Industry-specific deduction analysis to ensure you're not missing opportunities
- Multi-entity coordination for complex business structures
- Electronic filing with IRS accepted signatures and confirmation
- Proper reconciliation of book income to tax income (not shortcuts that create audit risks)
- Detailed documentation of all timing and permanent differences between book and tax treatment
- Book basis compliance - ensuring your books reflect operating agreement method, not tax shortcuts
- Audit preparation - maintaining clear trail from financial statements to tax return
- Multi-year consistency - ensuring reconciliation methods are applied correctly year-over-year
- Nexus analysis to determine which states require filing based on your business activities
- Apportionment calculations for income allocation across multiple states
- State-specific deductions and credits to minimize overall state tax burden
- Sales tax compliance coordination with income tax filings
- Registration assistance for new state requirements as your business expands
- Estimated payment calculations for multi-state quarterly requirements
- Strategic extension filing when additional time benefits tax planning or preparation quality
- Estimated payment calculations to avoid penalties during extension periods
- Documentation and tracking of extension deadlines to ensure timely final filing
- Communication about extension impact on other deadlines (state returns, loan applications)
- Complete Gusto account creation with proper business information and tax ID setup
- Pay schedule configuration (weekly, bi-weekly, monthly) based on your business needs and cash flow
- Chart of accounts integration to ensure payroll expenses flow correctly into your bookkeeping system
- Bank account linking for direct deposit setup and payroll tax payments
- State registration assistance for unemployment, disability, and other state-specific requirements
- User permissions setup for managers, HR staff, and accounting access levels
- Digital onboarding workflow setup for seamless new hire processing
- I-9 and W-4 electronic completion and secure storage
- Direct deposit enrollment and verification processes
- Benefits enrollment coordination (health insurance, 401k, etc.) if applicable
- Employee self-service portal setup for pay stubs, tax forms, and personal information updates
- Onboarding checklist creation to ensure compliance and complete documentation
- Federal tax setup (income tax, Social Security, Medicare withholdings)
- State income tax configuration for all states where you have employees
- Local tax setup (city, county taxes) where applicable
- Unemployment tax (SUTA/FUTA) registration and rate configuration
- Quarterly and annual reporting automation setup (941, 940, W-2, W-3 forms)
- Payment schedule setup to ensure timely tax deposits and avoid penalties
- Workers' comp provider integration with payroll system for accurate premium calculations
- Job classification setup to ensure proper rates for different employee types
- Automated premium reporting based on actual payroll rather than estimates
- Claims reporting coordination when workplace injuries occur
- Annual audit preparation with detailed payroll records for insurance carriers
- QuickBooks/Xero integration setup for seamless expense recording
- Department and location tracking for cost center analysis
- Custom reporting setup for management review (labor costs by project, location, etc.)
- Budget vs. actual analysis integration for payroll expense monitoring
- Cash flow forecasting integration to predict payroll funding needs
- Year-end reporting coordination (W-2s, 1099s for contractors, payroll tax summaries)
- Direct access to your dedicated client manager's phone line - no phone trees or waiting for callbacks
- Unlimited phone access during business hours for urgent questions and guidance
- After-hours calls returned next business day - your client manager will personally return your call
- Proactive check-ins to discuss business performance, challenges, and opportunities
- Real-time decision support for financial decisions, major purchases, or business changes
- Cash flow discussions to help manage timing of expenses, collections, and growth investments
- 15-minute strategy sessions for time-sensitive opportunities or problem-solving (scheduled through our unlimited consultation booking system)
- Centralized operations hub with separate profiles for each business entity and individual tax matters
- Entity-specific organization - all communications, documents, and requests organized by business or taxpayer
- Streamlined communication with questions and responses automatically sorted by the relevant entity
- Secure, encrypted platform for sharing sensitive financial information and documents
- Document exchange with easy sharing of receipts, contracts, and financial records per entity
- Searchable history of all discussions organized by business or individual tax situation
- Task management for action items, deadlines, and follow-up requirements by entity
- Comprehensive year-end tax planning session to optimize your current and upcoming tax position
- Revenue driver analysis - deep dive into your key income sources and growth opportunities
- Future revenue planning - strategic forecasting based on your business model and market trends
- Necessary expense planning - identifying and timing essential business investments and expenditures
- Cash flow optimization strategies for managing seasonal fluctuations and growth funding needs
- Goal-focused tax strategies customized to YOUR specific business and personal objectives
- Multi-year planning coordination for major business decisions, expansion, or life changes
- Complete software installation and initial business profile setup with correct entity information
- Bank and credit card account linking with proper security protocols and account verification
- User access management - setting up appropriate permissions for owners, managers, and staff
- Company preferences configuration - tax settings, accounting methods, fiscal year setup per your operating agreement
- Multi-company file setup for clients with multiple entities, properly organized and accessible
- Cloud synchronization setup ensuring all devices and users have real-time access to current data
- Industry-specific chart of accounts designed to maximize tax deductions and provide meaningful business insights
- Account mapping to ensure transactions flow correctly for tax preparation and financial reporting
- Sub-account structure for detailed tracking without over-complicating daily operations
- Class and location setup for multi-location or multi-service businesses to track profitability by segment
- Account numbering system that scales with your business growth and follows professional standards
- Regular cleanup and optimization as your business evolves and grows
- Bank feed connection issues - resolving duplicate transactions, missing transactions, or connection failures
- Payment processor integration (Square, Stripe, PayPal) setup and ongoing troubleshooting
- Payroll system integration ensuring seamless data flow between Gusto and your accounting software
- E-commerce platform connections (Shopify, WooCommerce, Amazon) for automated sales recording
- App and add-on integration for inventory management, time tracking, or industry-specific tools
- Data import/export issues when switching systems or integrating with other business software
- Customized training sessions focused on the features your business actually uses (not generic overviews)
- Best practices education for data entry, transaction coding, and maintaining clean books
- Workflow optimization training to streamline your team's daily accounting processes
- Mobile app training for on-the-go expense tracking and invoicing
- Ongoing support for new features, software updates, or when adding new team members
- Documentation and quick reference guides customized for your specific business setup
- Custom financial reports tailored to your industry and business decision-making needs
- Dashboard creation with key performance indicators relevant to your business goals
- Management reporting setup for tracking profitability, cash flow, and budget vs. actual analysis
- Lending and investor reports formatted to meet bank and investor requirements
- Tax preparation reports ensuring all necessary data is easily accessible for return preparation
- Automated report scheduling delivered to your inbox monthly, quarterly, or as needed
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Initial Setup and onboarding investment
Initial Setup & Onboarding
When you begin working with Corridor Consulting, we schedule initial strategy sessions that begin a collaborative onboarding process that begins to align our services with your needs. Our goal here is to listen, not to suggest or make any changes. We want to take what you have created, and make it better to support your goals.
- Review documentation, while understanding your goals, current financial processes, and specific requirements you have.
- Review your current financial systems, and integrations.
- Present an initial review of your last three years of tax returns, to identify audit risks, tax savings opportunities and ensure your financial records are reported correctly.
Investment Structure
At Corridor Consulting, our rates are customized based on each client’s specific business needs and complexity. Our Foundation Plan onboarding typically requires an initial investment to bring your books current and establish proper systems.
- Your onboarding investment depends on several factors:
- Current state of your books and records
- Number of months requiring catch-up work
- Multiple entity tax returns to prepare
- Complexity of cleanup required
Simple Formula: Take your estimated monthly rate and multiply by the number of months since your last professional bookkeeping. For example, if you engage us in June with a $1000 monthly rate, expect approximately $6,000 to get fully current and compliant.
Don’t worry – we see incomplete books frequently and specialize in transforming financial chaos into organized, compliant systems. Most of our clients start their relationship with us needing significant cleanup work.
Flexible Payment Options: We understand onboarding investments can be substantial. We offer payment plan options to make getting started more manageable while ensuring you receive the professional-grade financial foundation your business deserves.
The result: Clean, audit-ready books that support your business growth, lending relationships, and tax compliance from day one.
Cleanup & Compliance Work
When you become one of our clients, we assess the current state of your books and determine what it will take to get everything current, and you into compliance. This includes establishing and realigning your chart of accounts, reviewing past tax returns, and ensuring all transactions are accurately reflected.
If you have unfiled tax returns there will be a separate investment for each tax return.
Start Your Journey Now
Complete this brief questionnaire to tell us about your needs, and schedule your discovery chat.
Your Path to Financial Excellence
Step 1: Share Your Vision
By completing our brief questionnaire and reserving your Discovery Chat we’ll get a chance to understand your unique situation and goals. This focused evaluation helps us identify immediate opportunities while ensuring our solutions align perfectly with your needs.
Step 2: Strategic Planning & Solution Design
Based on your needs – whether business optimization, tax resolution, legacy planning, or estate settlement – we’ll develop your customized action plan. Our proven process integrates advanced tax strategies with practical solutions that address your immediate concerns while building for the future
Step 3: Implementation & Growth
Watch as our systematic approach transforms your financial situation. You’ll gain clarity, confidence, and control – whether through optimized business operations, resolved tax issues, or guided estate administration.
Why our clients partner with us
- For Business Growth: Our clients increase profits, improve margins, and reclaim their time while saving thousands in taxes through our systematic approach to business management and tax strategy
- For Tax Resolution: Our clients never have to face the IRS alone – we handle all communications and represent them as their Power of Attorney, while delivering ethical, real solutions to complex tax problems
- For Estate & Trust: Our clients benefit from our detailed tax analysis that often uncovers significant tax savings opportunities for estates and beneficiaries. We analyze filing elections, timing strategies, and distribution options to minimize taxes, while guiding executors and beneficiaries through complex estate administration