How you pay yourself is crucial and depends on your business structure. If you run an S or C Corporation, you’re likely required to take a salary and for sole proprietors, you'll take an owner distribution. Regardless, it’s important to establish your compensation...
As a small business owner, choosing the right accounting services is crucial for managing your finances effectively. When doing so, you might consider whether monthly or annual accounting is the better fit for your business. Each approach has its own set of benefits,...
As a small business owner juggling daily tasks and dreaming of the day you can have someone else handle your accounting, you might be wondering how much you should budget for an accountant. So, let’s talk about the factors that influence accounting costs. We'll...
Let's be real, firing your accountant is never an easy decision. But sometimes, it's the only choice left when they drop the ball one too many times. Whether it's radio silence for months on end, a complete lack of tax-saving strategies, or last-minute scrambles to...
If you’re a business owner you probably started your business because you had an idea or a marketable skill set, not necessarily because you understood business. And as your business has grown, your skills have improved. We see this a lot in our clients, but what we...
Running a business demands precision and discipline, especially when it comes to financial matters. One common pitfall that entrepreneurs should steer clear of is the commingling of business and personal funds. This practice occurs when business finances and personal...
A MODERN CPA WILL HELP YOU LOOK FORWARD. As a business owner you are constantly worrying about how you can increase your income, make payroll, hire new employees, and a million other things. I get it. I’m a business owner too. But what I have found to be the most...
When hiring, you may find yourself considering whether to hire a new employee as just that, an employee, or hire them as a 1099 independent contractor. Before you make a decision, know that there are specific guidelines surrounding each type and what your...
Staying Compliant With Your Trust Accounting In working with law firms we see lots of trust accounts, along with processes that firms are using to ensure they are staying compliant with trust accounting rules. We want to make sure you are staying compliant too! Here...
What’s The One Thing That Could Improve Your Profitability? There is one thing that separates your firm from a well-oiled machine. No, it’s not marketing, or branding, or even customer service. It’s one simple thing. Processes. More importantly, written processes. If...
Refresh Your Law Firm's Goals Summer is upon us. You know what that means (other than 100 degree weather)? Our year is halfway over. Now is the perfect time to review your law firm's financials, celebrate your wins, and readjust if needed. Remember six months ago...
Your Law Firm Financials Contain Valuable Information That Can Help You Be More Profitable Your law firm’s financials offer more than just data for your tax return—they provide critical insights that can drive your profitability and business decisions. With accurate...