Dana McGuffin CPA Blog
Banking tips to help you cash in One of the side benefits of inflation is that banks are finally beginning to pay interest on your savings. Here are some ideas to help you make the most of your banked cash: Understand your bank accounts. Not all bank accounts are created equal. Interest rates, monthly fees,…
Read MoreChanges in your business equipment, real estate holdings, the amount of inventory, and the number of employees are all good reasons to review your business’s insurance in addition to your annual review. Here are a few tips to keep in mind: Keep in regular contact with your insurance company and your agent. Keep your insurance…
Read MoreThere is an old wisdom: Put a live frog in hot water and he’ll jump out. Put a live frog in cold water, turn the burner on and you’ll have frog legs for dinner. This wisdom is not lost on some businesses as they know it’s easier to sell you a service once and then…
Read MoreFinancial goals make it possible for you and your partner to achieve the things you dream about. Here are several action items you can do to create – and achieve – financial goals as a couple: Start talking sooner rather than later. Finances can be hard to talk about. People sometimes feel guilty about debt or…
Read MoreHere are some suggestions to help you master the art of documenting and organizing your business now and in the future. Document policies and procedures. Write down daily responsibilities, skills needed to complete tasks related to these responsibilities, and the location of all paper and electronic files. Appoint and cross-train backup staff to ensure these daily…
Read MoreYour bookkeeping system is the financial heart and lifeblood of your business. When set up and operating properly, your books help you make smart decisions and seamlessly turn your financial data into useful information. Here are four key characteristics to building and maintaining a healthy bookkeeping system: Select the proper accounting method. There are two different…
Read MoreHere are some tips to get your finances in tip-top shape for 2023. Know your net worth. The first step to improving your finances in 2023 is to create a snapshot of your current financial situation. So note all your assets, then subtract all your liabilities (what you owe others) to calculate your net worth.…
Read MoreHere are several strategies to consider to shrink your tax bill in 2023. Consider life events. Consider whether any of the following key events may take place in 2023, as they may have potential tax implications: Purchasing or selling a home Refinancing or adding a new mortgage Getting married or divorced Incurring large medical…
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Happy, satisfied customers are essential to the health of every business. Increasing competition, online review opportunities, and unlimited access to information up the ante on the importance of quality customer service. Here are some tips to help your business thrive by meeting and exceeding your customers’ expectations: Understand your customers and their needs. As best you…
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