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small business accounting

The Profit First system ensures profit is the priority from the start. Similar to the envelope budgeting method, where you allocate money into different envelopes for various expenses.

What is Profit First and Why Do Accountants Hate It?

Mike Michalowicz, the author of the book Profit First and founder of the Profit First Method, developed a comprehensive training and certification...

A focused businesswoman reviewing financial documents for creating a small business budget in a modern office. She is planning budgets, analyzing expenses, and projecting revenue for better financial management and growth. This image represents budgeting, financial planning, and business strategy for small businesses.

7 Steps to Develop a Budget for Your Small Business

Developing a budget is a crucial aspect of running a successful business. A budget provides a roadmap for allocating resources, making informed...

Discover 6 steps for measuring a company's growth and set the stage for continued success and expansion.

6 Steps to Measure a Company’s Growth

In the fast-paced world of business, growth isn’t just a buzzword—it’s a necessity. For small business owners and entrepreneurs, understanding and...

Discover what to look for in a good CPA for a small business.

How to Evaluate Your CPA's Performance

Looking for the perfect CPA for your small business is like finding a key teammate; it's crucial for your success. But wondering if your CPA is...

Learn the crucial difference between profit margin and markup in small business accounting.

The Difference Between Profit Margin and Markup

Running a small business involves juggling various tasks, but understanding your finances is crucial for success. One area that often causes...

Learn how transition your small business for a successful exit.

Small Business Exit Strategy: A Guide to Transitioning Your Company

Are you a small business owner considering transitioning out of your company? This is a significant milestone, and careful planning is key to a...

identify and eliminate unnecessary expenses in your small business.

Trimming the Fat: Identify and Eliminate Unnecessary Expenses

Running a small business is a constant exercise in balancing growth with financial responsibility. Every dollar counts and identifying areas where...

Getting insurance from an accounting firm streamlines your financial management, improves communication, and ensures accurate coverage for your business needs.

Combined Insurance & Accounting: Better Coverage, Less Hassle

One of the first questions that comes to mind when considering insurance from an accounting firm is “why choose this option over a traditional...

Update: BOI reporting requirements for your business

Beneficial Ownership Information (BOI) Reporting Update

As we close Q1 we wanted to provide an update on this new reporting requirement as required by FINRA. Recently, a federal district court in Alabama...

Understand your balance sheet and make informed decisions for your business.

The Importance of Understanding the Financial Statement Balance Sheet

Understanding the ins and outs of the financial statement balance sheet can seem daunting. Whether you're a business owner or simply interested in...

Learn key tips and strategies to maximize your profit when selling a small business.

What to know before selling a small business

Are you thinking about selling your business? If retirement is on your horizon, you're not alone. At one time, many small business owners are...

Maximizing Depreciation for the Best Tax Position

Maximizing Depreciation for the Best Tax Position

When it comes to maximizing depreciation deductions before the end of the year, timing is critical. It's important to start thinking about this well...