Why a Mid-Year Budget Review Matters
As the second quarter progresses, business owners must ensure they’re on track with their financial goals. A mid-year budget review helps you identify areas where you may be over or under-spending, allowing for necessary course corrections before year-end. Without this evaluation, you may face cash flow problems, unexpected expenses, or lost revenue opportunities. A thorough […]
Why Q2 is the Perfect Time for Business Expansion
As the second quarter unfolds, you may prepare for expansion in the latter half of the year. Whether hiring additional staff, launching a new product, or expanding into a new market, growth requires careful financial planning to ensure long-term success. Expanding without a solid financial strategy can lead to: Cash flow issues: Increased expenses without […]
2025 Tariff Shake-Up: How They Could Affect Your Financial Forecast
The recent tariffs announced by President Trump are poised to have significant implications for American business owners across various sectors. They are expected to increase operational costs, disrupt supply chains, and contribute to economic uncertainty, posing challenges for American business owners. Biggest Impact Increased Import Costs: The tariffs impose a baseline 10% duty on nearly […]
Treasury Department Halts Enforcement of Corporate Transparency Act and BOI Reporting
On March 2, the U.S. Treasury Department announced it would no longer enforce the Corporate Transparency Act (CTA) or the associated Beneficial Ownership Information (BOI) reporting requirements. The decision marks a significant shift in the regulatory landscape for U.S. businesses, tiny enterprises preparing for compliance deadlines. No Penalties for Non-Compliance In addition to suspending enforcement, the […]
CTA-BOI Reporting Deadline Reinstated – What You Need to Know
The nationwide injunction blocking the Corporate Transparency Act (CTA) Beneficial Ownership Information (BOI) reporting requirement has been lifted. As of February 18, 2025, most reporting companies must comply with FinCEN’s BOI reporting rules. This decision comes after the U.S. District Court for the Eastern District of Texas lifted the Smith, et al. v. U.S. Department […]
Get More Out of Your Financial Statements
Your financial statements are more than just numbers—they’re a powerful tool to gain insights into your business’s health and performance. Understanding and improving your financial statements can help you make informed decisions that drive growth, manage cash flow, and maximize profitability. Here are some tips to help you get more out of your financial statements: […]
Debunking 5 Common Bookkeeping Myths Hurting Your Business
Let’s clear up some confusion about bookkeeping myths that could be slowing down your business growth. From thinking bookkeeping only matters at tax time to assuming software can do it all, these misconceptions might be holding you back. The Myths Here are some common BIG misconceptions: Myth #1: Bookkeeping is only important at tax time. […]
How Accurate Numbers Can Increase Your Business’ Value
Accurate accounting is not just a matter of compliance; it can significantly impact your business’s overall value. 6 Ways to Increase Business Value Here are several ways in which accurate books can increase your business’s value: 1. Improved Financial Decision-Making Accurate financial records provide you with a clear understanding of your business’s economic health. This […]
How Accurate Accounting Boosts Your Company’s Value
Keeping track of your business’s money (accounting) is really important. It’s not just about following rules; it can also help your business become more valuable. Here’s how. 6 Ways to Increase Business Value Here are several ways in which accurate books can increase your business’s value: 1. Make Better Money Choices When you know exactly […]
6 Month-End Bookkeeping Tips: Start The Year Off Right
Each January you might be writing your goals for the year. How about putting month-end bookkeeping on your list? It’s important to make sure your company’s money records are well-organized. 6 Month-End Bookkeeping Tips So, here are some simple tips to help you. Match Your Bank Records: First, make sure that what your bank says […]
