Among the many decisions you’ll need to make when starting a business, choosing the right entity that will define the legal structure of your business is an important one. The two most popular options for new entrepreneurs are Limited Liability Companies (LLCs) and S Corporations (S Corps). While both entities offer limited liability protection to […] Read more “LLC vs S Corp: A Guide for Business Owners”
Category: Accounting
Proper business tax planning can be an overwhelming process from start to finish. Most, if not all, business leaders have many decisions to weigh at any given moment and taxes are not always at the forefront of considerations being made. However, without being properly prepared, insufficient tax planning can lead to excess money being lost, […] Read more “Why Business Tax Planning Happens Year-Round”
Many startup businesses look to fractional CFOs for assistance with their finances. Now there are lots of reasons why startup business owners might want the help of a fractional CFO, but one of the main reasons is that startup employees are often busy! They usually “wear many hats” and juggle lots of responsibilities. If you’re […] Read more “Fractional CFO Services: What You Need to Know”
Most marketing agencies set goals that revolve around increasing revenue, but what they really want is more profit. They hope that by increasing revenue, they will also increase profit. There’s definitely a connection between profit and revenue, and they are both equally important. But it’s important to understand that they are two different metrics. Learn […] Read more “2023 Planning: Profit vs Revenue for Marketing Agencies”
Financially disciplined businesses are the ones that succeed. Knowing how to manage your money and maintain a positive cash flow will give you and your employees a sense of security. It will also put you in a position to grow and potentially make even more financial gains. If you want to make improvements to your […] Read more “How to Be Financially Disciplined in Your Business”
When you think of a tax strategy, you probably think of putting a plan together to save money. When you think of saving money, you think of more profit. Now, there’s a logical connection between these two ideas, because creating a tax strategy for your business will help you increase your profits. As you prepare […] Read more “How Tax Strategy Aligns with Profit Goals”
Now that the year is coming to a close, it’s time to look over some of your financial reports. Reviewing your financial reports before the end of the year can make a big difference for your business, because this practice will allow you to reflect and plan for the year to come. You can expect […] Read more “8 Financial Reports You Need to Analyze at Year-End”
Does your company need a virtual CFO? A traditional CFO (chief financial officer) works in-house, reports to the CEO (chief executive officer,) and handles all of the business’s finances. A virtual CFO would also manage your business’s financial operations, but this option gives you access to many more benefits. What is a Virtual CFO? Both […] Read more “What are Virtual CFO Services?”
As you approach the fourth quarter of the year, you might be starting to think about annual planning and your business’s year-end review. This is a great time to reflect and begin planning for 2023. Annual planning is done best when you think about the past year, learn from what you’ve done, and apply it […] Read more “Strategic Approach to Year-End Review and 2023 Annual Planning”
Small- to mid-sized business owners have a lot of responsibilities on their plate. As the leader of a company, you are responsible for its income, balance sheets, and tax payments. If you are currently a one-person show where you handle all accounting duties, you might quickly find you need help. With the help of professional […] Read more “Bookkeeping Services: A Review of Bench.co”
What Do E-Commerce Companies Need to Consider When Tracking Inventory? Out of stock products? Orders you can’t fulfill? Then your e-commerce business probably needs to get a better handle on inventory management and tracking. Mastering the supply chain and improving e-commerce inventory management will be critical to your success when running an e-commerce business. One of the most important […] Read more “E-commerce Inventory Management Tips”
A virtual CFO is a professional who does many of the same tasks as a traditional CFO. The key difference is they provide services as needed rather than providing them as a full-time, hired-in professionals. That means that your company does not pay a salary to the CFO but rather pays for services you need […] Read more “How Does a Virtual CFO Help Your Startup?”