You know you’re an accountant when—during the turkey dinner, holiday shopping, and assorted festivities—your brain turns to budgeting. That’s on my mind a lot right now, as our firm guides clients through exercises and calculations to give them a detailed forecast of revenue and expenses for next year. Does the thought of creating budgets leave …
Read more“It’s not rocket science.” That’s what I frequently hear from business owners after asking, “Why in the world are you preparing your own payroll?” It turns out there’s a disconnect: between how simple a task may be, and how appropriate it is to do it yourself. Is It Time for “The Talk”? I often advise …
Read moreMost small and mid-sized business owners rarely change accountants—even when they should. There was the owner who was completely surprised to learn he owed $42,000 more in taxes than he expected. Another who received a nasty compliance letter out of the blue. And one who paid too much in taxes because her CPA categorized a …
Read moreAn accountant walks into a bar . . . No, it’s not the beginning of a corny joke. It describes a visit I once made to a client. Her books were in shambles. She was bouncing checks right and left. She never had as much money in the bank as she thought she should. And …
Read moreHave you hesitated about rolling up your sleeves and digging into the financial side of your company? Then read on. This information will add years to the life your business—and make sense of your conversations with accountants and other trusted advisors. Let’s Start at the Very Beginning When accountants say “financial statements,” they mean three …
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