Embrace the new year with 5 Financial Resolutions for Small Businesses: Strengthen cash flow, minimize debt, maximize savings, cultivate financial literacy, and set realistic financial goals. With Lighthouse Advisory's guidance, illuminate your path to a year of financial triumph and beyond, transforming your dreams into substantial victories.
Embrace the new year with 5 Financial Resolutions for Small Businesses: Strengthen cash flow, minimize debt, maximize savings, cultivate financial literacy, and set realistic financial goals. With Lighthouse Advisory's guidance, illuminate your path to a year of financial triumph and beyond, transforming your dreams into substantial victories.
Explore strategic territories such as retirement contributions, charitable contributions, and end-of-year expenses/purchases to maximize deductions and reduce taxable income for your business. With meticulous preparation and strategic foresight, make your path towards tax season not just manageable, but rewarding too. Lighthouse Advisory will guide you every step of the way.
Balance year-end financial tasks with holiday cheer. Discover effective strategies for small business owners to prepare for tax season from November onwards, while still enjoying the festive season. Lighthouse Advisory is sharing tips to stay organized, use digital tools, and outsource tax tasks if needed.
Setting an annual budget illuminates your business's financial landscape, paving the way for informed, strategic decisions. Adjusting your budget as you sail through the year prepares you for unforeseen storms and sunlit opportunities alike. Consider your budget the north star for your financial goals—steadfast, guiding you while you measure your progress. Comparing actual performance against your plans is like adjusting your navigation on this journey. At Lighthouse Advisory, we don't just guide you. We're your dedicated crew, helping keep your business on a successful course.
Embrace the new year with 5 Financial Resolutions for Small Businesses: Strengthen cash flow, minimize debt, maximize savings, cultivate financial literacy, and set realistic financial goals. With Lighthouse Advisory's guidance, illuminate your path to a year of financial triumph and beyond, transforming your dreams into substantial victories.
Embrace the new year with 5 Financial Resolutions for Small Businesses: Strengthen cash flow, minimize debt, maximize savings, cultivate financial literacy, and set realistic financial goals. With Lighthouse Advisory's guidance, illuminate your path to a year of financial triumph and beyond, transforming your dreams into substantial victories.
Explore strategic territories such as retirement contributions, charitable contributions, and end-of-year expenses/purchases to maximize deductions and reduce taxable income for your business. With meticulous preparation and strategic foresight, make your path towards tax season not just manageable, but rewarding too. Lighthouse Advisory will guide you every step of the way.
Balance year-end financial tasks with holiday cheer. Discover effective strategies for small business owners to prepare for tax season from November onwards, while still enjoying the festive season. Lighthouse Advisory is sharing tips to stay organized, use digital tools, and outsource tax tasks if needed.
Setting an annual budget illuminates your business's financial landscape, paving the way for informed, strategic decisions. Adjusting your budget as you sail through the year prepares you for unforeseen storms and sunlit opportunities alike. Consider your budget the north star for your financial goals—steadfast, guiding you while you measure your progress. Comparing actual performance against your plans is like adjusting your navigation on this journey. At Lighthouse Advisory, we don't just guide you. We're your dedicated crew, helping keep your business on a successful course.
Mastering Business Finance Through Regular Budget Review
Unlock the power of strategic budgeting in our latest blog post, 'Mastering Business Finance Through Regular Budget Review.' Learn why October is the perfect time for a business budget assessment, the benefits of regular reviews, and how it can serve as a roadmap to success. Key insights from Lighthouse Advisory on utilizing budgeting for effective resource allocation, identifying potential challenges, and seizing opportunities.
A CFO is a trusted navigator, guiding your ship – the business – through calm seas and turbulent waters alike. They are financial management maestros, adept with strategic oversight, capital allocation, and budget management, all of which directly feed into your business's growth trajectory.
Part of their role includes identifying growth opportunities, managing cash flows, and equally balancing risk with opportunity. They ensure compliance to regulatory standards while maintaining financial stability like a tightrope walker, with the precision that safeguards your business from potential compliance landmines.
Running a successful small business is like navigating a vast ocean of possibilities. Sometimes, you need to take that extra plunge to discover hidden treasures and unlock new horizons. That's where "Deep Dives" – our version of special projects – come in. These individual projects are tailor-made solutions designed to address specific challenges and opportunities faced by small business owners like you. In this blog, we'll explore a few of the different types of special projects we offer and how they can propel your business forward.
If you are looking to grow your business, scale operations, or address financial challenges, then CFO Services may be the best fit for you. However, bookkeeping services may be the best choice if you only need help managing day-to-day financial operations.
It's also worth noting that many businesses choose to use both CFO Services and Bookkeeping Services. This allows them to benefit from both the high-level strategic guidance of a CFO, as well as the day-to-day operational support of a bookkeeper.
If you are looking to grow your business, scale operations, or address financial challenges, then CFO Services may be the best fit for you. However, bookkeeping services may be the best choice if you only need help managing day-to-day financial operations.
It's also worth noting that many businesses choose to use both CFO Services and Bookkeeping Services. This allows them to benefit from both the high-level strategic guidance of a CFO, as well as the day-to-day operational support of a bookkeeper.
A Profit and Loss (P&L) report – also known as an income statement – is a summary of your business's revenue and expenses during a specific period (usually a quarter or a year).
While your P&L report provides valuable information about your company's financial picture, there are certain things that it does not provide. In this post, we'll take a closer look at what information is and is not included in a P&L report.
No matter where you are with taxes, when you’re reading this, know what Lighthouse Advisory is cheering you on! If you find yourself curious about getting support to make next year’s taxes run smoother, take action today and schedule your complimentary consultation here. Let us help you reach your business objectives and achieve your full potential (without the tax time hustle).
Hiring your first employee is such an exciting time for a business and can be really overwhelming if you, the business owner, are also stepping into the role of HR, Payroll, and Manager. If you’re feeling a bit stressed, you’re not alone! I hope this checklist helps, and remember, once you find the right person to fill the role, the possibilities are endless!
Hiring your first employee is such an exciting time for a business and can be really overwhelming if you, the business owner, are also stepping into the role of HR, Payroll, and Manager. If you’re feeling a bit stressed, you’re not alone! I hope this checklist helps, and remember, once you find the right person to fill the role, the possibilities are endless!
Reviewing your budget can be empowering. Instead of wondering how things are going in your business, you know the exact numbers. A budget is really just a plan for your money. With a budget, you’re giving every dollar a job to do. At least once a year (preferably quarterly), you need to perform a review to ensure every dollar is doing its job.
As a business owner, October is the perfect time to review your business goals and set new ones for 2023. Here, I’ll share a simple framework that you and any key stakeholders can work through to create achievable goals for 2023 (and beyond). Before we can set new goals, we’ll need to review our current ones and look for any areas we need to focus on.
The 4th quarter of the year is upon us! You can either look at the year's final quarter as crunch time or as an opportunity to make something happen. Whether you’re on track with your goals or need a boost, let’s finish the last quarter of the year strong. I’ve seen from experience that with the right plan in place, business owners can have an incredible Q4. Today, I want to share part of that framework with you so you can finish this year strong!
If your business has money in the bank, that means you’re profitable, right?
Maybe, but maybe not.
To determine your profitability, we need to understand your business’s gross profit and net profit, all while analyzing your processes and overall costs of doing business.
Is all this making your head spin?!
Let me offer a simple guide to help you understand your business’s profitability and a few ideas on what to do if it isn’t. Let’s begin!
Going through the mid-year business review and check-in process can help you finish the second half of the year strong. This also creates an opportunity to make any adjustments to set yourself up for success. First, let’s walk through why you need to perform this critical action and why it’s important to do it now. Then we’ll share the five-step process of completing this review.
Embrace the new year with 5 Financial Resolutions for Small Businesses: Strengthen cash flow, minimize debt, maximize savings, cultivate financial literacy, and set realistic financial goals. With Lighthouse Advisory's guidance, illuminate your path to a year of financial triumph and beyond, transforming your dreams into substantial victories.
Embrace the new year with 5 Financial Resolutions for Small Businesses: Strengthen cash flow, minimize debt, maximize savings, cultivate financial literacy, and set realistic financial goals. With Lighthouse Advisory's guidance, illuminate your path to a year of financial triumph and beyond, transforming your dreams into substantial victories.
Explore strategic territories such as retirement contributions, charitable contributions, and end-of-year expenses/purchases to maximize deductions and reduce taxable income for your business. With meticulous preparation and strategic foresight, make your path towards tax season not just manageable, but rewarding too. Lighthouse Advisory will guide you every step of the way.
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