Did you know there are different levels of tax planning? That’s why you may have experienced a tax surprise even though you paid your estimated tax payments.

Here are the main 4 levels of tax planning and how they affect cashflow.

1.  Avoid Penalties

The basic level of tax planning is to calc...

Have you ever reviewed your profit report and celebrated an increase in sales and profitability? You gave everyone a high five and announced year-end bonuses.

A few days later the celebration was over after your bookkeeper asked you to transfer money for payroll.

You wonder what happened…how ar...

When it comes to increasing profitability, it is common for business owners to feel like Dorothy when she visited the Wizard of Oz.

Studying numbers can feel intimidating or scary.

0:11        Profitability is a simple math formula.

0:32        Did you know you can control profitability? Inst...

Watch this video to learn how income taxes are different for an employee, business entity and owner.

0:27        As an employee, income taxes are withheld for you. So, it is easy to know how much money you have to spend without worrying about surprises at tax time.

1:48        Most business enti...

Have you ever wondered if your business is as profitable as it could be?

It’s hard to know when you only have your historical financial reports to compare to.

The quickest way to answer the question is to calculate the profitability gap.

What is a Profitability Gap?

A profitability gap is the ...

Owners are quick to tell me they are very profitable.

But, later in the conversation the owners share the rest of the story when they say things like…

• I don’t pay myself a salary…yet.
• I sometimes struggle to pay my bills on time.
• I use my line of credit to make payroll.
• I cannot afford to h
...

When our employees make mistakes, it is easy to brush off the small investment it takes to make the customer happy. But, have you stopped to calculate how much the mistake really cost your business?

Watch this video to see how much you need to sell to breakeven on the mistake. 

Bottom Line

• Co...

Would you rather…

Sell $500,000 after 20% discount

Or

Sell $300,000 after 5% discount?

Check out this video to see the powerful effect discounts have on sales, profit and cash flow. 

Would you rather sell more or save more money? Check out this video to learn how each activity boosts the bottom line in your business.

Spoiler alert - financially stable service companies require managing all three - sales, profit and cash flow. 

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10% Net Profit is the New...

Did you know the customers listed in the 1-30 day column on the Accounts Receivable Aging Summary are actually 1-30 days past due? The common misconception is the report reflects the number of days since you provided the service and issued the invoice. 

It is important to note the phrase “past...