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 […]
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 […]
12 Biggest Tax Write-Offs for Small Businesses
As a small business owner, staying informed on the latest tax deductions can help you retain more of your hard-earned income. I’ve prepared a guide on the 12 Biggest Tax Write-Offs for Small Businesses to help you leverage these essential deductions. These include key areas such as: Business Interest Expense Startup and Organization Costs Office and Technology Supplies […]
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. […]
10 Ways to Prepare Your Business for a Successful 4th Quarter
Fourth-quarter planning is crucial for business owners as it sets the stage for a successful year-end and prepares their businesses for the challenges and opportunities of the upcoming year. Here are some key areas to focus on during your fourth-quarter planning: Budget Assessment: Evaluate your current year’s budget and compare it to actual results. Identify […]
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 […]
3 Things That Scare Business Owners
What scares small-business owners? According to the survey, they are most worried about: Taxes, Government requirements, and Poor sales. So, what’s a nervous small-business owner to do? Instead of fretting about how government regulations, shutdowns, and debt defaults might affect your bottom line, channel your energy into focusing on what you can control: financial planning, […]
Is Your Income Over $400K? Brace for More Audits as IRS Lowers Audit Target
The IRS is taking a significant step to focus its auditing efforts on higher-income earners. This change aims to improve tax compliance and ensure that the wealthiest individuals pay their fair share. Here’s what you need to know about this shift and how it might impact you. Understanding the Change In May 2024, the IRS […]
