Company overview:
A DBE-certified, minority-owned construction and consulting company with 3000+ completed projects across commercial and residential projects.
The challenge
Due to fluctuating workloads, changing seasons, and an unpredictable economy, the owner-operators faced poor cash flow visibility, surprise tax bills, and payroll issues. Internal resources lacked the tools and ability to strategically map and plan future business, which ultimately resulted in a federal tax lien against the business and the owners’ personal assets.
Solutions implemented
Hemlock Financial Group was hired for the lien resolution process, as well as accounting and tax services. Our team reviewed and analyzed the lien, communicated and negotiated with the IRS, and successfully resolved it. Hemlock also took over bookkeeping, maximized deductions, optimized the books for tax savings, and enabled future-focused planning.
Outcome/results
- Freed up $25,000 that the IRS had frozen
- Stress relief for owners – no longer wondering if they were keeping their books correctly
- Clarity on cash flow and profitability
