If you’re the owner of an LLC, there’s a chance you’ve elected to have your business taxed as an S Corporation. As your S Corp turns a profit, there are two ways to have those profits paid back to you: 1) reasonable compensation and 2) owner’s distributions (sometimes referred to as draws). While we won’t […]
Everything You Need to Know About S Corporation Distributions Read More »
*Note: this article includes affiliate links. We do, however, use all of the apps in this article for our own firm and/or recommend and use them in conjunction with our customers. Importance of accurate financial data We often speak of the importance of not only having good, clean books (like we did here and here
Unleash the Ultimate Financial Apps to Transform Your Small Business [2024] Read More »
The Weighted Average Cost of Capital (WACC) is an important financial concept that can and will impact several key areas of your business. The WACC has many applications. Your business’ WACC will impact decisions you make on investments, markup rates and the value of the business. Let’s dig into what WACC is, how it’s calculated
Weighted Average Cost of Capital (WACC): A Vital KPI For Business Success Read More »
When it comes to managing your finances, whether it’s for personal or business purposes, having a Certified Public Accountant (CPA), Bookkeeper, or any other financial professional can be a game-changer. These professionals bring valuable expertise, insights, and knowledge to help you make informed decisions and navigate complex financial matters. In this blog post, we’ll explore
Seven Ways to Get the Most Bang for Your Buck from Your Bookkeeper Read More »
So what is a KPI? KPI stands for Key Performance Indicator. There are many different types of KPIs – financial, operational, marketing, etc. Sure, financial statements are great, but they’re difficult to digest. KPIs are byte-sized metrics that you can use which indicate what’s going well (or not) in your business. Recently, we moved our
Top 15 Financial KPIs for Tracking Your Marketing Agency Read More »
Running a business is hard. The decisions you make as an owner will impact the lives of your employees, your customers and your family. To give yourself the highest probability of success, you need to have high-quality information at your fingertips in order to make well-informed decisions. Good decisions based on good data have a
Simplifying Accounting: What it Means to Cleanup the Books Read More »
CAAS™ is a cloud-based accounting and advisory service that helps businesses manage their finances and operations. Learn more about CAAS™.
When it comes to improving your business, monetary infusions aren’t always feasible, especially during economic downturns like the COVID-19 shutdown. Don’t let that stop you from finding ways to improve your marketing agency. There are a variety of ways to improve your marketing or creative business without additional capital or expense. Our CPA firm uses
How to grow a marketing agency without additional capital Read More »
I’m dating myself, but when I was in college, online poker was becoming a “thing” and the World Series of Poker was gaining in popularity. Hence, I played a lot of poker in college. Poker financed most of my entertainment money in college, as well as most of my (now) wife’s engagement ring shortly thereafter.
What do pandemics and poker have in common? Read More »
The Agency Profit Podcast In this episode, Chris Hervochon from Better Way CPA shares his expertise and passion for running a service-based business and how to make it successful with having clean and accurate accounting records. This episode also tackles why agencies need to hire accounting experts and use accounting software to keep track of
Agency Accounting 101 with Chris Hervochon – Episode 27 Read More »