6 Ways Small Businesses Can Speed Cash Flow

SJ Gorowitz Atlanta Quickbooks

Your cash flow is the lifeblood of your business. Managing payment terms well can strengthen client relationships. Here are six ways to turn your accounts receivables into reliable cash flow and show your customers you’re a solid business resource. … [Read more...]

4 Steps to Save Money with Year-End Tax Planning

SJG Tax Consulting

Think back over the past year. Were you surprised by a large 2014 tax bill or items you didn’t expect to see? Chances are, if you’re the owner of a small or medium sized business, you were. According to former IRS revenue officer Michael Raanan, “Numerous businesses overpay their taxes every year by overlooking various tax deductions.” The good news is, with proper early planning, you can take steps to keep more of the money that you’ve earned by reducing your tax burden – whether that’s through deductions or other proven tax strategies.  … [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...]

What financial records should I keep?

SJG Tax Alpharetta

Good financial records lay the foundation for mapping business progress, preparing statements, identifying key income sources, tracking deductible expenses, keeping track of property, preparing your tax returns, and supporting the items you report on tax returns. One of the questions we get most often is how long to keep financial documents. Generally, the length of time you should keep a document depends on the action, expense or event the document records.  … [Read more...]