Sep 03 5 Tax Planning Ideas Business Owners Should Consider Now This document is not intended to be construed as tax or legal advice. You should always contact your tax or legal advisor for specific tax planning recommendations for your situation. It’s September, which in my world means it’s time to be thinking about tax planning for 2018. You know there have been tax law changes, […] Read more
Aug 30 3 Things Every Business Owner Should Track Immediately In working with many, many businesses as a Greenville CPA over the years, there are 3 things that always stand out that aren’t tracked: margins, days AR outstanding and days AP outstanding. The reason they are typically not tracked is because their accounting is bad or nonexistent. So, the first step in being able to […] Read more
Feb 19 Discounts Are Like Cancer As a business owner and entrepreneur, I understand the need for sales. Obviously getting that revenue is vital to the success of your business. And it’s easy to fall into the trap of getting revenue for revenue’s sake. When your ultimate goal is revenue growth, and you focus so intently on new business and new […] Read more
Jan 29 When Revenue Growth Is Bad As an entrepreneur, revenue and growth is king. It’s the holy grail of success. The more you grow your revenue and customer base, the better. But growth can be bad…and it can put you out of business if not managed correctly. Don’t get me wrong, I am a firm believer that you should always grow […] Read more
Jan 17 Relying on Just Your Profit and Loss Statement Will Make You Broke As a CPA, I meet with a lot of business owners, and it never surprises me when I hear them say “we have a profit, but I never have any cash!” It’s definitely a real concern…and there’s a relatively simple solution. First off, make sure your accounting is right. As the old saying goes, garbage […] Read more
Jan 15 Accounting is Sexy I know what you’re saying…”accounting…sexy…yeah right!” It’s the course in college everyone hated. It’s the mundane part of owning a business. It’s the countless hours you spend on evenings and weekends entering data. It’s used when you have the annual dreaded appointment with your CPA. Trust me, the list goes on and on, and I’ve […] Read more