Category: Outsourced Accounting & Bookkeeping

The main objective of bookkeeping is to have an accurate record of all the money going in and out of your business.  Having a rental property requires good bookkeeping skills or having an experienced bookkeeper on staff.  When you know how your business is doing at any poi...

The Tax Cut and Jobs Act imposed a new limitation for business interest expense.  Interest expense for the year is limited to 30% of adjusted taxable income plus any floor plan financing interest paid by vehicle dealers under new code section 163(j)(1).  This limitation ap...

Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs of damaged property, this coverage generally provides the cash flow to cov...

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.  In short, f...

Consider this situation: A business owner thought an IRA was his money and he could use it to fund his start-up business. Instead, he had his entire IRA disqualified and he was forced by the appellate court to pay substantial penalties and a massive tax bill....

The promise of the new year lies ahead. One way to help ensure it’s a profitable one is to re-evaluate your company’s pricing strategies. You need to devise an approach that considers more than just what it cost you to produce a product or deliver a service; it also must...

Most business owners would likely agree that selling to existing customers is much easier than finding new ones. Yet many companies continue to squander potential sales to long-term, satisfied customers simply because they don’t create awareness of all their products and s...

Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term “emerging technologies.” It has become so ubiquitous that you might be tempted to ignore it and move on to something ...

As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual results. Your ...

Protecting your company through the purchase of various forms of insurance is a risk-management necessity. But just because you must buy coverage doesn’t mean you can’t manage the cost of doing so.  Obviously, the safer your workplace, the less likely you’ll incur cos...

You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply executing its own strategic plans.  One way to e...

Affordable accounting. Nonprofit finance committees and leadership teams continue to battle this issue. For small to mid-sized nonprofits, each full-time equivalent job description might as well say: jack-of-all trades, master of all.  The responsibility of the board and fi...