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5 Ways to Get the Most Out of Your Accountant

Apr 26, 2016 8:44:00 AM / by Brian Paulson posted in small business accounting

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Having a great accountant by your side is an invaluable resource. However, business owners don't always realize that accountants can be used for more than annual tax preparation or periodic financial snapshots. To get the most out of your accountant, use them as a trusted resource to grow your network, gain new insights, and learn best business practices beyond the numbers. 

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Did Your Small Business File for an Extension This Year?

Apr 19, 2016 8:44:00 AM / by Burt Monroe posted in small business taxes, small business payroll, small business bookkeeping, small business accounting

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Depending on the health of your business, the decision to file for a tax extension this year may have been for good reason. You may have experienced unexpected growth that led to more complex tax obligations, or you realized you’re just too busy working on your business at this point in the season to accurately process the required forms. These are valid reasons to file for an extension and a good indication you’re ready for professional accounting services moving forward.

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Tax Time is a Teachable Moment

Apr 14, 2016 8:34:00 AM / by Brian Paulson posted in small business taxes, small business accounting

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Small business owners are under a lot of pressure during the annual tax season. But once you've prepared and filed your forms, take a bit of time to learn from the process to prepare for next year. It's helpful to evaluate your process and your accountant's performance (if you used one) to determine if a higher level of service is right for your business.

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3 Reasons to Pull Bookkeeping, Payroll, & Accounting Under One Roof

Mar 24, 2016 8:34:00 AM / by Bob Warner posted in restaurants, small business accounting

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You may be keeping the books for your restaurant in-house, which takes a certain number of hours each day, week, and month. You may also have someone on staff or in your immediate family handling the accounting needs. At some point, maybe you decided to outsource your payroll or you installed a new point-of-sale system to track hours. Shortly thereafter, as your business began to grow, you found another service to handle tax preparation and filing.

This type of piecemeal approach for handling your financials can sneak up on you in a hurry. And while you may be making the right decisions in the moment, such an approach is not ideal for long-term profitability and growth.

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Welcome to Our New Website

Feb 25, 2016 8:17:00 AM / by Brian Paulson posted in small business accounting

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We’re pleased to announce the launch of our new website for CSI Accounting & Payroll.

Our goals for the new website:

  • provide users with a simple yet engaging layout;
  • more effective navigation and pleasing user experience;
  • improved access to the site across mobile devices;
  • more information for clients and prospective clients to learn about our services and team;
  • and to address common questions visitors may have about accounting and payroll for their small businesses.
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What to Look For in an Accounting Service

Jan 28, 2016 1:00:21 PM / by Brian Paulson posted in small business accounting

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A good accounting service is priceless. It gives you financial peace of mind, insight into your business operations, and help and support when you need it most. But not all accountants offer you the same degree of value, so how do you pick the right one for your business?

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Are You Ready to Outsource Your Accounting and Bookkeeping Needs?

Jan 21, 2016 8:49:00 AM / by Brian Paulson posted in small business accounting

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Despite the separate functions of bookkeeping and accounting, both play a critical role in the financial lifecycle of your expanding business.

Do-it-yourself business types often find a tipping point -- where the tasks of recording daily transactions, completing payroll, analyzing financial reports, and preparing tax documents consumes the majority of their time, potentially hurting business objectives and fostering burnout.

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What Monthly Accounting Services Include

Jan 12, 2016 8:39:26 AM / by Brian Paulson posted in small business accounting

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Annual accounting firms tend to offer limited services. They only deal with your finances when the year is over; they aren’t in touch with your business operations in real time.

 

In comparison, monthly accountants provide ongoing support, advice, and insight to your finances. If you work with a monthly accountant, here are some of the services you’ll get each month.

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How to Calculate Restaurant Prime Cost

Dec 22, 2015 9:20:00 AM / by Brian Paulson posted in restaurants, small business accounting

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Managing food and labor costs is a crucial aspect of running a profitable restaurant or food service business. Combined, these controllable costs are known in the industry as your prime cost, which is reported as a percentage of your sales.

To remain profitable in the restaurant business, your maximum prime cost should generally be lower than 65%. As food and labor costs vary among different types of operations, prime cost ranges may dip as low as 55%. Finding your sweet spot within this range will help you achieve profitability without negatively affecting service and quality of your offerings.

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Year-end Tax Tips for Small Businesses in 2015

Dec 3, 2015 9:30:00 AM / by Brian Paulson posted in small business accounting

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Odds are you’re a bit busy this holiday season, especially if your small business caters to seasonal products and services. Now, however, is the time to start thinking, and preparing, to save on taxes for 2015 and the coming year. By implementing a few practical strategies for cash-basis entities in December, you can potentially reduce your current tax payment and set the stage for savings in 2016.

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