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How Too Much Profitability Can Hurt Your Business

Oct 30, 2018 11:12:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting, small business operations

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You’ve grown your business, you take pride in a satisfied customer base, and you have increased profitability year after year -- what’s the problem with that? As the poet Biggie Smalls once so eloquently rapped, “Mo' money, mo' problems.” While it’s obviously the goal to succeed as a business, here’s how too much profitability can hurt your business -- and where you can get the help you need.

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How to Calculate Costs for Your Trucking Company

Jan 10, 2017 7:48:00 AM / by Brian Paulson posted in small business bookkeeping, small business accounting, trucking companies

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To remain profitable in the transportation industry is a challenge these days. Without a proper way to track and control operational expenses for your trucking company, you run the risk of going out of business.

One way to gauge profitability is to accurately calculate the cost per mile for each of your trucks. That way, you’ll have a better understanding of your expenses when it comes time to charge your customers.

With strong bookkeeping and accounting practices in place, calculating your cost per mile starts with your company’s expenses. In the transportation industry, expenses typically fall into three categories: fixed costs, variable costs, and payroll.

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5 Bookkeeping Tips For Small Businesses

Aug 25, 2016 8:23:02 AM / by Brian Paulson posted in small business bookkeeping, small business operations

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Accounting can be one of the toughest activities for small business owners, especially for those who don’t have a background in bookkeeping. Following a few simple bookkeeping tips throughout the year, however, can make it much easier to track expenses and file taxes when the time comes.

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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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