A practical guide to 15 high-value questions every small business owner should ask their accountant — covering tax deductions, business structure, cash flow forecasting, and record-keeping, with guidance on what good answers look like.
Understand the difference between gross and net across income, profit, pay, and revenue. Includes formulas, real-world examples, industry benchmarks, and common mistakes to avoid when analyzing your business finances.
Learn how to find the best CPA for your startup with this practical guide. Covers when you need a CPA vs. bookkeeper, six criteria for choosing the right one, typical 2026 fees, red flags to avoid, and how to maximize the relationship.
Learn how to pay yourself from an LLC, including owner's draws, salary, and guaranteed payments. Compare tax implications across LLC structures, understand IRS reasonable compensation rules, and find the best compensation strategy for your business.
Learn how the LIFO (Last In, First Out) inventory method works, compare LIFO vs FIFO with examples, understand the tax advantages, LIFO reserve, liquidation risks, and when LIFO is the right choice for your business.
A practical guide to startup accounting covering entity setup, cash vs. accrual methods, financial statements, tax essentials, and how to prepare your books for fundraising—so you can avoid costly mistakes and make better decisions from day one.
Learn how to budget on a variable or irregular income with practical strategies for freelancers, gig workers, and small business owners. Covers percentage-based budgeting, income buffers, tax planning, and revenue predictability tips.
Learn how to manage law firm accounting, from setting up IOLTA trust accounts and performing three-way reconciliations to optimizing billing, maximizing tax deductions, and staying compliant with ABA and state bar rules.
Learn how to set up property management accounting for rental properties, maximize landlord tax deductions including depreciation and repairs, handle security deposits correctly, avoid common bookkeeping mistakes, and file taxes using Schedule E.
Learn what cost of goods sold (COGS) is, how to calculate it using the COGS formula, and why it matters for profitability and taxes. Includes inventory valuation methods, common mistakes, and tips to reduce COGS for small businesses.
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