Reading financial reports can feel overwhelming, but it’s a vital skill for any business owner. Knowing how to interpret a balance sheet and profit & loss statement helps you make informed decisions about your business’s future. You’ll gain insights into your...
Let's Figure It Out If you’re making money from something you love, that's fantastic! But have you considered whether your passion is classified as a business or just a hobby by the IRS? Understanding this distinction is crucial for managing your taxes effectively and...
An employee handbook is more than just a collection of company policies; it is a crucial tool for setting the expectations of a positive workplace culture. However, crafting an effective handbook can be challenging and it is easy to make mistakes. Here are four common...
Running a successful business entails navigating various challenges, with financial management standing as a cornerstone of success or failure. Despite offering exceptional products or services, inadequate financial decisions can lead to business downfall. Here, we...
Growth can come in many different forms (even in pruning… more on that another day). If you’re planning to grow your business this year you need to get very clear on the HOW. How are you going to grow? That can be the overwhelming part, but it doesn't have to be. ...
Managing payroll is a fundamental aspect of running a business, and many companies opt to outsource this task to professional payroll service providers. While outsourcing payroll can save time and reduce the risk of errors, one of the critical questions business...
Many businesses have some sort of accounting software such as QuickBooks to help manage finances and then provide financial statements such as a balance sheet and income statement to help you gauge the financial performance of your business. Do you find...
Health Savings Accounts (HSAs) are tax-advantaged savings accounts designed to help individuals and families with high-deductible health insurance plans cover their medical expenses. Here's how HSAs work. Eligibility To open and contribute to an HSA, you must...
Am I Retaining Enough Income In My Business? At the end of the month, quarter, and year, business owners and executives review the profit and loss statement to determine the net income the business earned during the specified timeframe. The net income is the income...
A basic understanding of financial terms empowers business owners to manage their finances effectively, make informed decisions, secure funding, and ultimately run a successful business. It's a fundamental skill that can make a significant difference in the financial...
The Fractional CFO is a role that is well-known in the accounting world, but it is still gaining traction within other industries. Hiring a fractional CFO offers the same level of experience and financial expertise as a traditional CFO but for a fraction of the...
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...