New Year’s Resolutions . . . for your Business

For many of us, beginning a year wouldn’t be complete without the tried and true New Year’s resolutions. Scores of us vow to start eating healthier…exercising more often…and seeing your CPA regularly. Wait, what?If you’re a fan of setting individual goals for the year, don’t forget goals for your business—something our proven accounting team can help you with. Now’s a great time to examine your company’s financial health and look for ways to keep it on track. Why not make a resolution to get you and your business in tip-top shape?Considering adhering to a few healthy business practices for your company in 2018:

• Review your books on a weekly basis:
  • Evaluate your cash flow forecast;
  • Make revenue projections based on past income sources;
  • Monitor your revenue earned and expenses incurred;
  • If an unanticipated monetary issue arises, rectify it in a timely manner.
• Remain vigilant regarding tax planning parameters (and of course, we’re here to help!):
  • Make certain your business taxes are filed properly;
  • Review current federal and state tax regulations and changes;
  • Evaluate current IRS regulations regarding appropriate deductions and credits;
  • Stay informed about new tax laws and codes that may impact your bottom line.
• Review growth and revenue objectives:
  • Did your company grow or shrink, and why?
  • Compare your revenue and profit margins from the past year to the year before. How effectively were your goals met?
  • Assess expenditures versus revenue to determine upwards or downwards trends;
  • Prepare for unforeseen expenses now to prevent future financial challenges.
• Remain technologically savvy:
  • Update your website to feature new products and/or services. Content is king in the digital world, so keep it updated and current.
  • Offer a client-friendly App service to stay connected to your customers on the move. We even follow our own advice: watch for the new P&R App coming soon!

The beginning of a new year is an exciting time. You start fresh while planning for the new year’s successes. To make 2018 your best year yet for your business, consider adhering to these tried and true business resolutions.And we’re here to help you stick to your plan: consider us your business growth consultants—so you can focus on your clients. We’ll help you run your company throughout the year. Contact us at Office@CPAsite.com or 904-396-5400.