Omega Accounting Solutions is a financial and tax advisory based in Irvine, California that empowers small and medium-sized businesses (SMBs) to make better-informed decisions. We simplify complex daily challenges through expert accounting, tax consulting, and business intelligence technologies to optimize your finances and create new opportunities for growth. Founded by Jay Woods in 2007, in a small office in Laguna Nigel, CA, Omega Accounting Solutions has transformed from a regional accounting firm to a thriving national business advisory. Beginning as a corporate controller, Woods gained insight into his clients’ daily financial challenges, identifying innovative solutions for small business owners to access big business resources at a fractional cost. Omega Accounting Solutions was born with the mission to empower small business owners to make better-informed decisions. Over the past 16 years, Omega has amassed a loyal client network by growing beyond fractional accounting to include tax advisory services, with a focus on business intelligence (BI) for innovative analytics and reporting. In 2020, Woods expanded into tax credits, helping small businesses recover from the pandemic by securing over $1 billion for our clients. Omega grew into a champion for small businesses by nurturing client relationships and remaining rooted in our values of accuracy, efficiency, and integrity.
External link for Omega Accounting Solutions
15101 Alton Pkwy
Suite 450
Irvine, California 92618, US
Happy Friday! For many clients we have worked with, financial performance data connected with operations to drive continuous improvement is a key opportunity. This drives the polling question below! #finance #operations #operationalexcellence #analytics #accounting
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As we enter into Fall, reach out for any financial and strategic planning, year end close, Q4 FP&A projects, or other financial needs!
"Fall into the season of planning! 🍂 As we leaf through 2024, it's time to harvest your strategic plans, forecasts, and budgets for 2025. Let Omega help you rake in success!" As we look ahead to 2025, creating a clear picture of your company’s budget and revenue forecast is essential to achieving your business goals. Here are three steps you can take to begin building financial reports that reveal critical business insights: Set SMART Goals and Objectives: Begin by establishing realistic revenue and profit goals aligned with your organization's long-term vision. Tie these goals to actionable objectives, ensuring they are specific, measurable, achievable, relevant, and time-bound (SMART). This will lay a strong foundation for a focused and executable strategy for 2025. Analyze Past Data and Engage Operational Teams: Review key performance data from the past 24 to 36 months to identify market trends, seasonality, and areas of growth. Engage with operational leaders, sharing these insights while aligning on team capabilities and expectations. This collaborative process ensures your strategy is both data-driven and operationally feasible. Create Specific KPIs and Monthly Benchmarks: Develop Key Performance Indicators (KPIs) tied to your goals, making sure they are both measurable and reflective of success. Break down your annual goals into monthly or quarterly targets, allowing for ongoing tracking and adjustments as needed. This enables more agile and proactive financial management. These three steps are critical not only for robust financial reporting but also for navigating the challenges of annual budgeting with foresight and efficiency. If you need assistance, Omega offers a range of financial advisory services designed to bring enterprise-level resources to small businesses. At Omega, our mission is to equip business owners with the clarity and confidence they need to make informed decisions and accelerate growth. We hope these steps provide a valuable starting point for your financial planning in 2025.
Why do business owners choose Omega? Although Accounting is in our name that’s not all Omega does. Unlike a traditional CPA and Bookkeeper, we focus on improving the financial processes and systems within a business to enhance efficiency, transparency, and strategic decision-making. This involves analyzing a company's financial operations, including accounting, budgeting, reporting, cash flow management, and compliance, and then providing tailored solutions to optimize these areas. Why Us? The financial landscape of a business can be complex, and without the right insights, it's easy to lose track of key metrics that drive success. Omega Accounting Solutions sets itself apart by offering a full suite of operational financial services that are built around your business's unique needs. How would this help your business? Increased Efficiency: Streamlined processes reduce bottlenecks and minimize manual errors. Better Decision-Making: Improved reporting provides leaders with timely, accurate data for more informed decisions. Scalability: Optimized financial systems make it easier to scale the business without financial strain. Cost Savings: Omega identifies inefficiencies or overspending that can lead to significant cost reductions.
Who is Omega Accounting Solutions? Omega Accounting Solutions is more than just a financial services provider; we are your strategic partner in achieving operational and financial excellence. While not a traditional CPA firm, Omega offers comprehensive accounting and financial advisory services tailored to meet the needs of businesses across various industries. Our core mission is to empower leaders to outperform business expectations. Founded with the vision to bridge the gap between accounting and business strategy, Omega is committed to delivering financial clarity, tracking performance, and driving results. We leverage innovative tools and financial expertise to ensure that business owners have an accurate understanding of their financial health at any given moment. This approach allows businesses to make critical decisions with confidence, ensuring growth and long-term sustainability. #financialservices #businessconsulting #financialinsights #taxcredits #omegaaccounting
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Small Business Spotlight: Cuernevaca’s Grill 🇲🇽 In collaboration with Omega Accounting Solutions, we are proud to spotlight Cuernevaca’s Grill, a second-generation-owned restaurant run by sisters Nayomie and Jackie Mendoza. Founded by their father, Marcos, Cuernevaca’s has been a Los Angeles Mexican food staple in the fashion district for nearly twenty years. They take pride in making everything from scratch at their two locations – Downtown LA and Bell, including their famous chile relleno. Nominate a small business to be featured at GalaxySmallBiz.com.
Struggling with job costing in custom manufacturing? Our latest blog explores how tailored accounting solutions can help you assign costs more accurately and optimize operations for better financial outcomes. https://bit.ly/3Xi0LbF #manufacturing #jobcosting #businessgrowth #accounting
Stay ahead of the curve with the IRS's proposed updates to Form 6765 for the R&D Tax Credit. As the IRS pushes for greater transparency and accuracy in R&D Tax Credit claims, businesses must adapt to these new requirements. Read our full blog and partner with Omega Accounting Solutions to ensure your claims are compliant and optimized. Contact us today to navigate these changes with confidence. https://bit.ly/3YNjZqO #RDtaxcredit #IRSupdates #BusinessTax #OmegaAccounting
Is Your R&D Tax Credit Prepared for the September 15th Cutoff? Here's why this important tax deadline matters. 1. Alignment with Fiscal Year-End For pass-through entities, this is your last opportunity to claim the R&D Tax Credit on your original tax filing or, in certain cases, to file an amended return for a claim for a refund. Missing this deadline could jeopardize your ability to claim the credit, potentially losing out on thousands in tax savings. 2. Avoiding Penalties and Interest The IRS imposes fines and additional charges for missed deadlines, which can erode the financial benefits of the credit. Staying ahead of the deadline allows you to focus on maximizing your credit rather than scrambling to avoid penalties. 3. Streamlining Your Financial Planning By claiming the R&D Tax Credit on time, you can accurately project your tax liabilities and adjust your financial strategies accordingly. This foresight is crucial for maintaining cash flow and investing in future projects. 4. Gather Supporting Documentation Early Navigating R&D tax credits can be tricky. A specialist can help you identify eligible activities, meet IRS requirements, and minimize the risk of errors or rejections. Get expert help and maximize your benefits. Consult with Omega Accounting Solutions https://bit.ly/3MdzTU0 #taxdeadline #randd #randdtaxcredit #taxcredit #omegaaccounting
Could your software development efforts be saving you more? Learn how R&D tax credits can drive innovation and boost your bottom line. Find out how by reading our latest blog! https://bit.ly/3YyXRjP #SoftwareDevelopment #RDSolutions #TaxIncentives #rd #TaxCredits
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The Omega Accounting Solutions Local Business of the Month: D’Arcys Tartan Room 🍊 They strive to provide a unique entertaining experience, offering a diverse range of alcoholic beverages, food, and games in a welcoming atmosphere. The mission is to create memorable moments for all patrons. Nominate a small business to be featured ➡ bit.ly/3U2ubb2