How Variance Reporting Can Keep Your Profits on Track
While there are literally hundreds of accounting reports that can help you run your business better, one of the most popular – and greatly underutilized – reports is the variance report. A variance report helps you compare how you are actually doing with either a past...
Five Ideas to Attract Staff During the Great Resignation
You’re not alone if you’re having trouble attracting and keeping staff. A convergence of issues has created one of the greatest talent shortages in our lifetimes. With boomers retiring in large numbers, pandemic and opioid deaths, people not wanting to work for low...
2022 Tax Deadline Updates
The IRS will begin accepting and processing 2021 tax year returns on Friday, February 12, 2022. Please note FEDERAL INCOME TAX filing deadlines for calendar year taxpayer are as follows for 2021: PARTNERSHIPS AND S CORPS: Returns due on March 15,2022, Extended due...
What’s in Store for 2022?
The last few years have been unlike any other in our lifetimes. As we close out 2021 and enter 2022, it’s the perfect time to reflect on what we’ve learned, what’s happening now, and what we want to accomplish in the next 12 months. Here are some things to consider....
IRS Letter About Advanced Child Tax Credits
The IRS announced that it will be sending out letters to everyone who received advance Child Tax Credit payments. Please be on the lookout for this letter and DO NOT throw it away. IRS Letter 6419 will go out January 19, 2022. It will show the total amount of advance...
Understanding Sales Conversion Metrics
How effective is your sales function in your business? One way to answer that question at a deep level is to calculate conversion metrics for every step of your sales cycle. These numbers are not tied to any numbers on your balance sheet or income statement, but can...
Time Tracking
Keeping track of how you and your workers spend time is one of the most important things you can do in your business. Labor costs can be a large portion of expenses, and understanding how time is spent can help you manage your business better in a multitude of ways....
The Power of Thank-You Notes
As we approach the holiday of giving thanks, it’s the perfect time to think about how we can use thank-you notes in our businesses and lives to express our gratitude to others. When to Say Thank You There are many opportunities in business to say thank you: When a...
Controlling Labor Costs
For service businesses, labor cost is the largest expense that is incurred in business operations. For many other types of businesses, the cost of labor is a large component of overall costs. Controlling labor costs so that they stay in line with what’s best for the...
The Four-D Time Management Trick to Boost Your Efficiency
Time is our most precious personal resource; once we’ve spent it, we’ll never get it back. As busy entrepreneurs, we seem to have less time than anyone else, so it just makes sense to look for ways to use our time wisely. Here is one technique that has worked for...