Fall Changes You Need To Make In Your Practice

fall leaves

Cool evenings. Colorful leaves. Pumpkin-flavored everything. These are just a few of the reasons I love fall and I bet you do, too. This time of year I often hear that CPA’s like yourself are starting to ask themselves some tough questions. As we enter into the final stretch of 2017: You may be looking at your profitability and wondering what you can do to kick it up a notch before December 31st. And what you can do after we celebrate the new year to continue adding to your income in … [Read more...]

Hunting For The Perfect CPA Partner

hunting success

It’s hunting season, and as every good hunter will tell you, you have to plan ahead. When you’re out in the woods for days at a time, bad planning could literally mean the difference between life and death. Now, we’re not talking about anything quire that serious, but the truth is that if you are trying to grow your business, especially by taking advantage of partnerships with CPAs, you are on the hunt, even if you didn’t know it until this second. There is a lot that goes into finding the … [Read more...]

Becoming Your CPAs Best Quarterback

John Elway. Brett Favre. Peyton Manning. Tom Brady. Even if you've never watched a game of football in your life, you've probably heard at least one of those names (after all, who hasn’t seen one of Peyton’s commercials?) These are 4 of the best quarterbacks to play the game, ever. But what makes them great quarterbacks? And what the heck does this have to do with you, a financial advisor? I’m so glad you asked. Today we’re going to take a few pointers from the pros and help you become … [Read more...]

How To Turn Extra Office Space Into Extra Income

income

This month's series is all about relieving the financial stress of the off-season by creating year-round income. If you own an office space, or even possibly if you rent one, you could be leaving a lot of money on the table if you’re not subletting or renting it out when you’re not using it. How many hours each week is your office completely empty? If you reduce your hours during the off-season, and especially if you work from home more often, you should consider these … [Read more...]

What To Do While You Wait on CPAs

CPAs Financial Advisor

You’ve been waiting and waiting for the perfect time to reach out to your list of CPAs so you can establish mutually-beneficial relationships with them. The wait is over. You’ve read our past blogs and have done everything you can to make their lives easier during this crazy time of year. And now, the time has finally come! Tax season is over! That means you’ve got every green light telling you this is the most appropriate time to reach out to them, right? Wrong. Keep in mind that while … [Read more...]

8 Ways to Legitimize Wacky Tax Deductions

legitimize wacky tax deductions

We’re sure you’re aware that there is a right way and a wrong way to do your taxes. But sometimes, tax deductions aren’t as “cut and dry” as they seem. Take, for instance, the junkyard owner who had a rodent problem. Instead of hiring an exterminator, he bought cat food and put it out to attract feral cats. The cats took care of his problem and he claimed the cost of cat food as a business expense. Or how about the taxpayer who tried to claim the cost of a daily sitter for his dog? It … [Read more...]

How to Get Back to Work After Vacation

vacation

With summer quickly approaching, you may be planning for a much-needed vacation. Europe. Hawaii. Mexico. Anywhere other than your office sounds good, right? We’re big fans of taking vacation time around here because we’ve learned the hard way that all work and no play leads to burnout, fast. Well-rested CPA’s are the best CPA’s because their stress level is lower and their energy is higher. This leads to enhanced productivity, better decisions and a keen eye for detail—all important things if … [Read more...]

5 Things To Consider Before You Offer Financial Services

Financial

As a tax professional, you may have thought about how you can expand your business to include additional revenue streams such as payroll and bookkeeping. And if you’re like a lot of my clients, the opportunity to provide financial services has seemed like an idea worth considering as well. The good news?  You have lots of potential revenue-generating opportunities on the table. The not so good news? Some of them can do more harm than good to the practice you’ve worked so hard to build. … [Read more...]

How To Answer The Not-So-Quick Estimated Tax Payments Question

estimated tax

This month we’re focusing on answering some of the most common “quick questions” that clients asked. If you missed our previous posts in this series, you can find them here, here, and here. All caught up? Great! Let’s jump into our final quick question: “How much should I pay in estimated tax payments?” It may seem easy enough to take whatever your client paid last year, divide by 4, and turn that figure into your “estimated quarterly taxes" number. But before you do that, let’s back up just … [Read more...]