One of the most asked questions I get is “should i set up my business as a Limited Liability Company (LLC) or an S-Corporation (S-Corp for short). And the short answer is – it depends. Depending on who you ask, an attorney or an accountant, you will get different opinions. So let me equip you…
I recently did a workshop on budget and finance. The first part of the day we talked about the importance of a budget and how to make a budget. And we actually built a budget for each person. The second half of the day we focused on finance and understanding your financial statements. When we…
Our firm does not do taxes, even though I did them for 12 years. When I began my practice that was a service I simply did not want to offer. However, we do partner with CPAs and other tax professionals to be certain that the guidance we provide our clients is in line with…
The first month of the year is over and now it’s time to compare how you did last month. But you can’t because you don’t have anything to compare to since you haven’t yet completed your budget for the year. It is important that you prepare a budget, no matter how small or large your business…
Starting a business is tough and maintaining it can be even tougher. And one tool that will help you measure your success is a business plan. I know I know – you don’t want to do a business plan. Well here’s the thing – without a well thought out plan you have no way of…
Last month we had the honor of being featured on the website of our favorite app – Hubdoc! They asked us accounting folks some questions around a bookkeeping software and how to chose the best one. Along with a few of other colleagues in the industry we shared our thoughts. Check it out… As see…
I can’t believe it’s almost 2016. I mean it seems like just yesterday we were enjoying summer and the day before that we were ringing in 2015. Time flies and waits for no one. And as a business owner it seems like it flies by even faster. But what we can’t do is let it…
As a small business owner, you must stay on top of your expenses. Keeping track of your receipts is what will help you stay on top of your costs, stay out of trouble with Uncle Sam and help you manage your cash flow. Staying on top of your costs. Keep track of your receipts helps…
Running a business mean you are constantly running around doing everything in your business. That’s what CEO stands for – Chief Everything Officer. In order to manage it all you need to have a workflow within every department; not just your operations. That is where many business owners fail. They create processes around their main…
One of the main challenges service based business owners have is determining their profitability on a client by client basis. Especially when some of their costs needs to be spread over all of their clients. It’s a calculation the average bear won’t know or understand how to calculate. But it is a necessity, if…
