Blog Updates
Excel & Accounting
Excel is a powerhouse tool for accountants and finance professionals alike, offering unmatched flexibility and accessibility. For small businesses or self-employed individuals, it’s often an ideal solution because it’s already included with Microsoft 365 and can be customized to fit specific financial needs. However, Excel’s greatest strength—its flexibility—can also be a drawback. Without built-in accounting…
Improving SMB Accounting
Improving accounting practices is one of the smartest moves a small business can make to boost financial health. Start by separating business and personal finances—this one step can dramatically reduce tax season headaches. Invest in reliable cloud-based accounting software and, when possible, outsource bookkeeping to professionals who can keep things clean and current. Budgeting and…
Why Small Businesses Fail
Why do so many small businesses fail? The reasons are often preventable with the right planning and strategy. One of the biggest culprits is cash flow—82% of small businesses fail due to cash flow problems, often caused by poor budgeting, lack of funding, or inventory mismanagement. Another major reason is lack of market demand—no matter…
Start-Up Misconceptions
Most startups don’t fail because of a bad idea—they fail because of bad financial planning. The biggest miscalculation? Assuming revenue growth will solve everything. Here’s what often gets overlooked: ❌ Underestimating burn rate = cash runs out too soon❌ Ignoring unit economics = scaling an unprofitable model❌ No financial controls = costly mistakes go unnoticed…
CFO Add Value
What is accounting/finance that adds value to your business? It is not merely to pay taxes, or to feel comfortable that your books are correct. Real value derives from the insights you receive from: = 3. Future projections that are invaluable to decision making A good bookkeeper simply achieves comfortability. Leveraging a Fractional Controller or…
Beyond the Numbers: How Accounting Adds Value
Too often, accounting is seen as just bookkeeping, payroll, and compliance. But modern accounting teams have the tools to be strategic partners—driving insights, not just reports. By delivering meaningful financial dashboards, forward-looking forecasts, and real-time transparency, accounting can help leadership make informed decisions that fuel growth. Embracing technology and optimizing financial strategies isn’t just about…
Brewery Cost Accounting
Running a successful brewery goes beyond crafting exceptional beer—it’s about understanding your costs to ensure long-term profitability. Cost accounting, especially tools like job costing, can provide invaluable insights for breweries by breaking down expenses into materials, labor, and overhead for each batch. By knowing these costs, breweries can make data-driven decisions on pricing, recipe adjustments,…
NO Tax on Overtime
Tax-free overtime—an idea that sounds like an easy win for workers, but is it? Keeping every dollar from overtime pay could mean bigger paychecks, increased workforce participation, and stronger consumer spending. However, it may also lead to unintended consequences, such as shifts in hiring practices, reduced salary positions, or potential impacts on government funding. Would…
Taxation & Virtual Currency
Navigating the taxation of virtual currencies can feel like exploring uncharted territory, especially as digital assets continue to evolve and reshape our financial landscape. The IRS treats virtual currency as property, meaning transactions—whether buying, selling, or exchanging—can trigger taxable events. With the current regulatory guidance being somewhat limited, it’s crucial for professionals and investors alike…
NO tax on Tips
The “No Tax on Tips” proposal is gaining traction, with bills introduced in both the House and Senate. If passed, this legislation could provide significant tax relief for hospitality workers by allowing a deduction of up to $25,000 on tip income. While this change could help restaurants and service businesses struggling with hiring, it also…
Key 2025 Tax Deadlines You Need to Know
Staying ahead of tax deadlines is crucial for businesses and individuals alike. Here are some key dates to keep on your radar: ✅ January 31 – Employers: W-2s due | Payors: 1099-NEC✅ March 17 – Partnerships & S-Corps: 1065 & 1120-S✅ April 15 – Corporations: 1120 (expect for fiscal tax year) | Individuals: 1040 |…
Proactive Accounting: Shaping the Future of Finance
As a CPA and CFO, I’ve seen firsthand how proactive accounting transforms the financial landscape. By integrating automation and advanced analytics into daily operations, we shift from reactive to strategic decision-making. This approach not only enhances accuracy and efficiency but also empowers our teams to focus on higher-value tasks. The result? Stronger financial health and…