Can you believe the first four months of the year are already behind us? We are not officially experiencing a recession, but there are many financial pressures on businesses this year. Employee salary and benefits cost increases, supply chain issues and inflation are all impacting the cost of doing business, and you may be worried […]
Read MoreLess than 4 out of every 1000 tax returns submitted to the IRS in 2022 was audited. That’s not even one-half of one percent. But the thought of being audited still strikes fear in many people. If you did nothing wrong, you should not worry about an audit. An audit doesn’t necessarily mean you did […]
Read MoreTax filing season has just ended and we are already hearing from business owners who were stunned by a larger than expected tax bill. We are also hearing from business leaders who are receiving a larger than expected refund. While being in the second group would seem to be a good thing, it’s actually not. […]
Read MoreIf you are a real estate investor, you will periodically sell a property before you have a new property to purchase in sight. It’s a good idea to understand at least the basics of the IRS rules on what is referred to as a 1031 Exchange. This is a tax exemption granted under certain circumstances […]
Read MoreQuickBooks is a great tool for business owners. It can help you see your financial picture from a variety of perspectives, and even help you determine how profitable your business is. But there are things QuickBooks doesn’t automatically show you, and some reports you can generate can be misleading. For example, if your company is […]
Read MoreProfitability is a topic we address with our clients all the time. That’s just one area of our business advisory services, but it’s going to be a particularly important one this year. Most companies look at cutting costs to maintain or improve their profitability. That’s a good strategy, but there are two types of costs […]
Read MoreLast year was very difficult for many smaller businesses, especially at the end of the year. And the economy did not improve just because the calendar changed. While the economy is not the only factor in the success of your business, it is a factor. There are predictions about an impending recession. It’s important to […]
Read MoreAre you running a family business or thinking about transferring the ownership of your company to a family member when you retire? If that describes you, these tips will help. Family businesses have unique business planning needs. I’m speaking from experience. I have helped many people who own generational businesses, and I have direct experience […]
Read MoreEvery business owner needs to be vigilant about costs under normal circumstances. This is even more true this year given inflation. How do you cut costs in your business without reducing your productivity or hurting your business? Here are a few ideas. Reduce your office supply expenses Shopping around for better prices on office supplies […]
Read MoreProject Management is probably not a topic you might expect to be speaking with an accountant about, but maybe you should be. While many accountants don’t get involved in managing individual projects, the way you handle this task can have a significant impact om your business and profitability. That’s why we, as business advisors, discuss […]
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