October 2015 Newsletter

The Key Financial Pieces of Successful Expansion Recently, we’ve been exploring the financial benefits, tasks and consequences of expansion. We’ve looked at everything from which questions to ask on the front end of planning, to the many variances in tax compliance, to recommended accounting systems. In this newsletter, the SJG team offers best practices we’ve assembled over decades of supporting emerging and expanding businesses. Read on, share, and plan your next steps with confidence. Planning an Expansion? These are Your Most Important Considerations. By nature, most entrepreneurs and business owners are goal setters, innovators and challenge seekers. For many, once their business is on solid footing, there’s already consideration of what the next one might be. If that next step is expansion, it’s critical to start with smart planning. We look at what expansion really entails and impacts, and then walk you through the most important expansion options, considering the pros and … [Read more...]

Customizing Your Accounting System for Business Expansion

SJG Accounting and Tax Services Alpharetta

Most of the time, when you hear the words “required” and “recommended,” one seems more imperative than the other. Rest assured, this is not the case with your accounting system. Although producing the right reports to comply with tax filing requirements is required, fully utilizing appropriate accounting systems, oftentimes overlooked or underutilized, is just as important to establish a strong financial and business footing. When you’re expanding a business, whether by location, business activity or product lines, your accounting system should be set up to produce three pieces of key information: Financial reports that highlight performance profitability by state, county, profit center, product line or business activity Comparative financial reporting (i.e., current period to year-to-date, current year to prior year and actual activity to budgeted activity) that can help to show trends Timely reports that help management and financial professionals with tax planning and tax … [Read more...]

Step-by-Step Accounting for Successful Business Expansion

Tax Accounting Business Expansion SJ Gorowitz

If you’re planning for business expansion into another state or country, the nature of your business will dictate reporting requirements, regulations, and best practices. Customizing your accounting processes is a vital part of the planning process. … [Read more...]

The Seven Most Important Considerations For Expansion

SJ Gorowitz Alpharetta Accounting Expansion Advisory

By nature, most entrepreneurs and business owners are goal setters, innovators and challenge seekers. You started with a vision and built a reality. You’ve weathered challenges, opportunities, ebbs and flows. For many, once that first step of business creation is firmly placed, there’s already consideration of what the next one might be.   For many business owners, that next step is an expansion. Whether it’s imminent or a strategic long-term goal, expansion planning is a smart exercise in market knowledge, operational readiness and structural reliability. … [Read more...]