Insights
Is Your CPA Actually Costing You Money?
I spent 40 minutes on the phone yesterday helping a colleague fix a client's books. This client had been working with a CPA for years, paying them good money to handle his taxes. The business did well last year. Really well. $740,000 in revenue. And because nobody,...
Trust But Verify: Why Business Owners Can’t Afford Blind Faith in Their Finances
"My husband handles all the financial stuff. He's really good with numbers." I've heard some version of this statement at least a dozen times over the years. And almost every time, my stomach drops a little. Not because husbands (or wives, or business partners, or...
How to Start an LLC: A Step-by-Step Guide for Business Owners
"Should I form an LLC?" We get this question constantly from new business owners. And my answer is almost always: "Probably yes, but let's make sure you do it right." Last month, a client came to me frustrated. She'd been operating her consulting business as a sole...
Never Sell Your Business Without This Critical Document
I got a phone call last week that made my stomach drop. A client, let's call her Sarah, was in the final stages of selling her business. She'd found a buyer, negotiated terms, and was days away from closing. Everything seemed to be going smoothly. Then the buyer said...
Why Your Bonus Structure Might Be Failing, And How to Fix It
Let me guess: you hand out annual bonuses at the end of the year. Maybe it's a percentage of salary, maybe it's a flat amount. You announce them, everyone says thank you, and then... nothing really changes. Sound familiar? Here's what I've noticed working with dozens...
How to Securely Send Tax Documents (And Why Email Isn’t Safe)
It's January, which means tax season is officially here. And if you're like most business owners, you're about to start gathering documents and sending them to your accountant. Last week, a client forwarded me an email she'd received from her previous CPA. The subject...
Understanding Your Break-Even Point: The Number Every Business Owner Needs to Know
"How much do I need to sell this month?" I hear this question constantly from business owners. And honestly? Most of them are guessing. They have a vague sense of their expenses. They know roughly what they need to cover payroll. But when I ask them their break-even...
The Undeposited Funds Trap: How Your Sales Might Be Getting Counted Twice
I was reviewing a client's books last month when something caught my eye. Their Profit & Loss showed $340,000 in sales for the quarter. Pretty impressive, right? Except when I looked at their bank statements, only about $180,000 had actually come in. "Must be a...
Is Your Bookkeeper Protecting Your Data?
Bookkeeping Should Be More Than Numbers. It's About Trust Let me tell you about an email that made my jaw drop. A bookkeeper I'd never met forwarded me complete access to their client's QuickBooks account. Customer data. Everything. Their message? "Hey, can you help...