Many small businesses focus on serving their communities, but few focus on serving other community businesses. Helping Hands Accounting Services is one of the latter.
“I used to work as an auditor for the New Orleans Department of Revenue,” recalled Justin Williams, owner of the accounting firm, “and I realized that many people just don’t know what they are doing. Their books were a mess. I saw a need in the community.”
This led Williams to open his business in early 2020, right before the pandemic. Fortunately, the need for tax and bookkeeping services remained steady, and social distancing requirements were manageable. While he maintains an office at 4480 General DeGaulle — the largest part of his clientele is from the Westbank — his two staff members mostly work offsite, and the remote-friendly nature of the firm’s work allows him to have clients in other states.
From the beginning, Williams focused on customized accounting services using accessible terminology.
“I provide a unique breakdown for every client,” he explained. “I ask clients what they want to call things and then I label everything based on what they need and what is particular to their industry. I want the client to understand what their financial breakdown is.”
This focus on making sure all clients are clear on their own financial picture, said Williams, is particularly valuable when business owners are working with bankers, especially when they are seeking loans. He also helps them understand their assets and their value as collateral and has represented clients with the IRS and in tax court.
Williams stresses the importance of accounting for and declaring all business income, both to obtain loans and avoid tax issues.
“All my life I’ve heard ‘I hate taxes,’ but you have an accountant so you can plan for taxes,” he noted. While clients are often tempted to underreport revenues, he shifts their thinking to being meticulous about recording and reporting all legitimate expenses.
Helping Hands Accounting Services also advises clients on which corporate structures are best suited to their type and size of business. Managing credit is also a significant component, one that Williams feels is often overlooked during financial education.
“I got my MA and they never told me why my credit report was important,” he reported. “You can mess up your credit in five minutes and that can mess you up for 10 years.”
Given the complexity of business finances and the frequent lack of financial acumen, it’s not surprising that Williams finds that simply keeping his clients in order is his biggest challenge. He focuses on educating and advising them, and steering them away from shortcuts and bad practices.
“I created a spreadsheet rating my clients from best to worst,” he said. “This way I could see what the worst clients’ needs are and help them become better.”
Indeed, this his is underlying purpose for being in business.
“At City Hall I noticed that a lot of business owners are just trying to make the next dollar,” he recounted. “I want to help them grow, and I want to see the community grow.”
Helping Hands Accounting
4480 General De Gaulle Dr. Suite 115 // New Orleans
504-565-1015 // hhasla.com
@HelpingHandAccountingServices
