Blog

Creating a financial forecast for your small business is an essential step in ensuring long-term success and sustainability. A well-crafted financial forecast allows you to predict future revenue, manage cash flow, and make informed decisions. Yes, this important task is often ignored by business owners because they aren’t sure how to do it. Your CPA can help you to create a financial forecast.

When you think of a CPA, you might be like many people and view them through the lens of tax return preparation and tax compliance management. But the role and capabilities of Certified Public Accountants extends much further. These licensed financial professionals can be an indispensable business ally, fueling your company’s growth while you focus on overseeing its operations.

A business plan may facilitate your opening up a business banking account, get business credit and help you acquire investor financing. Your business plan provides lenders and other interested parties with a succinct overview of your company's operations. It also provides the owner with benefits. Business owners can look back to their business plan to verify that they’re staying true to the company's principles.

Being self-employed these days is more common than ever before. More people are deciding that it’s better to be their own boss rather than punch a time clock. In addition, the gig economy, as it’s called, means that more people are opting to “piecemeal” their income, getting work here and there instead of working for an employer. However, being self-employed brings its own unique set of challenges and freedoms.

Imagine having a savings account that not only helps you cover medical expenses but also offers tax benefits along the way. That’s precisely what an HSA is—a special savings account designed for individuals with high-deductible health plans (HDHPs). With an HSA, you can set aside money tax-free to pay for various medical expenses, from doctor visits and prescriptions to dental and vision care.

Good credit is one of the keys to financial success. Many people suffer from some financial stress over the course of their lives. They may go through periods where debt gets the better of them, unable to pay bills on time or without sufficient income to meet minimum payments. One of the solutions available is a credit repair company, advertised heavily.

Improving your home can be rewarding both emotionally and in terms of increasing your living comfort and boosting your property value. However, many home improvements can also be quite expensive. Fortunately, there are ways to ease the financial burden, one of which is leveraging tax credits. 

Understanding Tax Credits

With financial scams on the rise, it’s imperative to be on guard against all forms of potential financial threats. Unfortunately, some of the most vulnerable people may be your loved ones, especially elderly parents. This segment of the population is less likely to be savvy about scams involving money and about ways to prevent being a victim.

In today’s digital age, online banking offers unparalleled convenience, allowing users to manage their finances from anywhere at any time. However, with this convenience comes the increased risk of cyber threats and fraud. Whether you are an individual, a small business owner, or a client of CPA services, it’s crucial to take proactive steps to secure your digital banking activities.