Being in business means taking a lot of risks, especially financially, and as an entrepreneur, you deserve to be rewarded for those risks. Your pay is just one of the many benefits of your self-employment. But it’s not like the pay you get as an employee; it needs to be more comprehensive than that. Getting…
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1. A Successful Partnership Intuit conducted a survey in October 2022 which found tremendous benefits to the accountant-business owner relationship: ● Nine out of ten small businesses with an accountant or bookkeeper say they contribute to the business’s success. ● More than eight out of ten business owners say accounting professionals helped them reduce…
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Cool Tech Tools: Drones Drones were considered fun when they first came out, but they are far from toys. Drones have surprising benefits with extremely high return on investment to certain business owners. A drone is a robot that can fly and that is controlled by a remote device. The technology includes GPS (global positioning…
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While spring brings a change in the weather for most locations, it also brings a number of opportunities to refresh your products and services. Spring is a great time to boost your marketing campaigns so that you can boost your business revenues. For Example, “Let us give your Books a thorough SPRING-CLEANING!” Adding the theme…
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A sunk cost is simply money, time, or resources that you have already spent and can’t get back. Another word for them is retrospective costs. The bias comes into the picture when we consider those costs in future decisions. One example is when you have already invested a lot of time and money in a…
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If you have accumulated more money in your business checking account than you really need for daily operating expenses, that is a nice problem to have! It’s time to consider putting that money to work. A business savings account might be your answer. Every bank is different when it comes to the features and benefits…
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The equity section of the balance sheet looks different depending on the legal structure of your business. The most common entity types are corporations, partnerships, and sole proprietors. In this article, we’ll take a look at what the equity section of the balance sheet looks like for sole proprietors. The Equity Section As a reminder,…
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Are you looking for new ideas to market your business? If so, knowledge panels might be something to consider. Most people haven’t heard of them, but they are widely used in search results every day. Knowledge panels are the information panels that appear on the bottom right corner of your GOOGLE search results when you…
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The word “audit” can be thrown around a lot in casual conversation. When an accounting professional uses it, it means something very specific. Today we’ll talk about a variety of meanings, focusing on the most important ones for our clients: Financial Audits and IRS Audits! Financial Audit A financial audit is an official service designed…
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Understanding Equity on the Partnership Balance Sheet The equity section of a business’s balance sheet is the most difficult part to understand. We help our clients understand that the accounts that make up this section vary depending on the type of entity in which their business is structured.We’re going to dive into what the equity…
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