June 2018 Blog Posts
June 30, 2018
How To Avoid Business Cash Flow Trouble
Cash flow trouble is more than just an inconvenience. When your business has cash flow trouble, the effect can wreak havoc on more than just your finances. You could miss opportunities, establish poor relationships with both suppliers and customers, and even go out of business.
If you have business cash flow trouble now, you already recognize these signs. The stress is constant and employee morale is probably suffering. Getting your business’ cash flow back where it needs to be isn’t an impossible task. A few tweaks to the way you manage cash flow will go a long way. Getting started is easier than you might’ve thought.
Cash Flow Tips
To get out of cash flow trouble, getting a better handle on managing your cash flow is essential. While it’s easier said than done, following these tips can get you on the road towards towards a brighter financial future.
- Cut out the extras. That new machine model or software version can be tempting. Unless you absolutely need it, just skip it. Stick to the essentials until you get a positive cash flow.
- Check weekly. Looking over your finances at the end of the month isn’t going to cut it. Keep an eye on it weekly and constantly look for ways to improve cash flow.
- Hire better employees. They might cost a little more hourly, but a highly skilled worker can take on the work that two average workers could.
BIG: The Leading North Royalton Accounting Services
Eliminating cash flow trouble is just part of the financial picture that companies have to worry about. BIG is dedicated to helping you tackle the rest. We have the best CPAs in the area and we’re proud of it. We provide a variety of accounting services to help your business not only maintain a positive cash flow, but thrive for the years to come. A few additional services we offer to help your business grow are:
- Business Mentoring
- Business Financing
- Tax Consulting & Tax Return Filings
Cash flow trouble doesn’t have to be the end. Let BIG help get your business back on track.
Contact Us Now for More Information
June 15, 2018
Financial Planning For Living Longer
Nearly half of families have no retirement account savings. That fact, courtesy of the Economic Policy Institute, just tells part of the story. Those families that do have money tucked away is far less than they need to retire. Roughly 35% of adults in the U.S. only have a few hundred dollars in their accounts, while another 34% are living paycheck to paycheck.
Fortunately, it’s never too late to start planning for retirement. The more time you have is better, but professional financial planning may be the key you need to get your retirement savings on track. A qualified CPA can not only help you get started with retirement planning, but can help maximize the money you do put away.
CPA Retirement Planning Benefits
How much money should you be putting away each payday? Which is the best financial instrument to use? Do my contributions need to change over time? These are all great questions that a CPA can answer to help you make the most out of your retirement planning. Using a CPA for your retirement planning has a host of additional benefits including:
- Creating strategies to keep and grow your retirement account balance
- Developing a backup plan to cover unpredictable and unfortunate events
- Identifying expenses that could occur during retirement and create a plan to eliminate any shortage in income
Financial Services So You Don’t Outlive Your Savings
Retirement is the time to relax and enjoy yourself after decades of work. Unfortunately, many Americans aren’t prepared financially for retirement and end up working far longer than they intend. Regardless of your age, seeking financial services now is a great first step to make sure that you don’t outlive your savings. In addition to retirement planning, a CPA can also help with:
- Elder planning to ensure comfort and peace as you age
- Estate planning to ease estate transitions
- Education planning for future generations
It’s never too late to start planning for retirement. Get started by contacting BIG today.
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