Dana McGuffin CPA Blog

Customer Retention Metrics You Need to Know

By Dana McGuffin | November 17, 2022 | Comments Off on Customer Retention Metrics You Need to Know

  Your business’s ability to retain customers is one of the most important components to sustained growth and profitability. Here are the three retention metrics useful for every business owner. Retention rate. Most customer retention is measured over a set period of time, typically one year. To determine your rate, take a look at the number…

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Planning for Future Care: A Financial Dilemma

By Dana McGuffin | October 26, 2022 | Comments Off on Planning for Future Care: A Financial Dilemma

  Long-term care costs that drain your nest egg is a financial pothole that is hard to avoid. Here are some ideas to help manage this hazard. How much is needed Here’s how much money you’ll need for three different types of senior living arrangements according to Genworth’s 2021 Cost of Care Survey: In-home care…

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Maximize Your College Financial Aid With These FAFSA Tips

By Dana McGuffin | October 12, 2022 | Comments Off on Maximize Your College Financial Aid With These FAFSA Tips

  A brand new Free Application for Federal Student Aid (FAFSA) made its debut on October 1st, featuring 60% fewer questions and a host of other changes that aim to increase the likelihood that you can qualify for financial aid. As you prepare to complete this year’s application, here are some tips to maximize your…

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Tips to Protect Your Social Security Number

By Dana McGuffin | September 28, 2022 | Comments Off on Tips to Protect Your Social Security Number

Very few things in life can create a higher degree of stress than having your Social Security number (SSN) stolen. This is because, unlike other forms of identification, your SSN is virtually permanent. Here are some things that you can do to minimize the risk of having your number fall into the hands of the…

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Handling Negative Online Reviews of Your Business

By Dana McGuffin | September 15, 2022 | Comments Off on Handling Negative Online Reviews of Your Business

Here are some ideas on handling those pesky online business reviews. The best defense is a great offense. You don’t have to address negative reviews if you never have them in the first place. Proactively identify possible negative experiences and encourage customers to respond directly to you to resolve their issues. Know your dissatisfied reviewer. Before responding,…

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Tips to improve your credit score

By Dana McGuffin | August 16, 2022 | Comments Off on Tips to improve your credit score

    Credit scores are used to determine interest rates on mortgages, car loans and even the amount you pay for insurance premiums. Because of this, it is a good idea to review ways to improve yours. Here are some ideas: Look for errors on your credit report. The place to start is a review of…

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Understanding Tax Credits Versus Deductions

By Dana McGuffin | July 21, 2022 | Comments Off on Understanding Tax Credits Versus Deductions

Tax credits are some of the most valuable tools around to help cut your tax bill. But figuring out how to use these credits on your tax return can get complicated very quickly. Here’s what you need to know. Understanding the difference To help illustrate the difference between a credit and a deduction, here is…

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Six Simple Ideas to Help Your Small Business

By Dana McGuffin | June 29, 2022 | Comments Off on Six Simple Ideas to Help Your Small Business

Here are six ideas to help your business grow and thrive this summer. Understand your cash flow. One of the biggest causes of business failure is lack of understanding cash flow. At the end of the day, you need enough cash to pay your vendors and your employees. If you run a seasonal business you understand…

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Hiring Your First Employee? Make It a Success!

By Dana McGuffin | March 30, 2022 | Comments Off on Hiring Your First Employee? Make It a Success!

  Are you ready to hire your first employee? Perhaps you started a new business, and are working solo or with a spouse or business partner. Now the business is growing and there’s just too much to do. You find yourself working long hours and still not keeping up. It may be time to make…

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