It seems business leaders aren’t worried about recession anymore. At least that’s what the annual World Economic Forum decided last week.  Economic experts and business leaders are saying that we’re not likely to see a U.S. recession in 2024. The Federal Reserve might lower interest rates soon, and people are feeling more confident about spending money, which is making everyone more hopeful about the economy. I am hearing from plenty of Northern Florida business owners, though, that they ARE worried about something else. There are a lot of acronyms flying around business owner land ..read more

“Save more” is a new year goal a lot of people put on their list, but it’s proven to be a difficult one to reach the last few years. In your Northern Florida business, it’s likely some of your employees fall in this category — especially for those in lower income brackets.  Thanks to the Secure Act 2.0, there are ways you can help support your employees in building an emergency savings of their own. The IRS recently gave the green light for PLESAs (pension-linked emergency savings accounts). Basically, these are individual accounts in defined contribution plans and are designed to e ..read more

Now that we’re a week into the new year, all of last year’s broken things in your Northern Florida biz have likely smacked you in the face a few times. Sadly, they didn’t magically get fixed while you were cleaning up wrapping paper and sneaking another sugar cookie. But it’s a new year, so why not make plans now to fix a few of those pain points? I’ve seen some pretty good — and really bad — new year’s resolutions from business owners over the years. A few of the more useful ones that are worth sharing: Start (and end) meetings on time. Encourage your team to use their vacation time (and do ..read more

  Making New Year’s resolutions seems like a waste of time. Sure, we might start with the best of intentions, but by February most of us have quit the gym, returned to normal eating habits, and left books unread on our bedside tables.  But something I do believe in making at the start of the year are goals — both personally and professionally, short- and long-term. I keep in mind my limits and then set the goal to push past those limits.  So, what are some of your goals for 2024? I’d love to hear more about them… especially any that pertain to your Northern Florida busines ..read more

By the time you actually get to reading this, there is a very good chance that you’re reading a voice from the past. I make it a practice to prepare my Northern Florida clients and friends a few days in advance, and RIGHT NOW, it is still 2023. But 2024 is beckoning and is probably already here for YOU. The thing to celebrate is that your Alachua County business made it through another year. Pop the champagne for THAT. It’s no small thing to run a business that doesn’t die in this economy. And it takes fierce intention and good leadership — even if only over your own worst impulses. That’s wh ..read more

In many ways, year-end couldn’t come at a worse time. As if December holiday crazymaking wasn’t enough, as a business owner you’re also responsible for compiling an entire year’s worth of reporting data into comprehensible form for your accountant, with enough time to spare to make proactive decisions that will improve long-term profitability. No pressure. A proactive bookkeeping system can help lessen the load this time of year because you’re working on a monthly basis to compile financials into action items BEFORE the year-end crunch. If you need some help preventing this maddening scenario ..read more

Crazy to think there are only two more weeks until Christmas and only three more weeks left of 2023. There’s a lot of joy still to be had and opportunities for your Northern Florida business to increase revenue On the other side of that coin, though, rising costs and the Fed’s interest rate hikes have made it extremely difficult for some businesses to stay afloat.  Inflation alone has negatively affected the cash flow of 48 percent of small businesses in the last six months nationwide. And businesses in some sectors are struggling to hold up to the challenge — tech startups are ..read more

The end of the year, that is. That means that for your Northern Florida business’s financial reporting, this is go time. Now that we’re into December, time is short to take care of your year-end accounting. This is something we specialize in so be sure to get on our calendar to set up your EOY bookkeeping clean-up: calendly.com/tom_the_cpa Making time to look at your books before January 1 allows us to help you make last-minute adjustments that will help you be prepared in the new year. Things like reviewing financial statements, delayed or accelerated purchasing, and updating your business i ..read more

The plot to one of the most iconic Christmas movies of all time, Christmas Vacation, centers on one holiday hope: the year-end bonus. Clark Griswold, as “the last true family man”, decides he will use his promised year-end bonus to install a pool in his family’s backyard. When the dream fails to materialize, Clark gets upset at his boss and explains how he was planning on the bonus for his big family gift. The point is clear: Don’t plan on a holiday bonus — that you don’t know is coming — for the bulk of your giving. But the plot presents an interesting question for Northern Florida business ..read more

Does your Northern Florida family sit around the table at Thanksgiving dinner and share something they’re thankful for? I’ve been at those holiday meals many a time. I appreciate the intent, and will admit it’s usually effective in getting me to feel more grateful, but I do wish those hosts would generally restrict the “I’m thankful for” conversations for the end of the meal. “Some like it hot,” as they say on Broadway. It definitely tastes a lot better that way. I’m joking (kind of), but gratitude IS the sort of spirit I try to share this time of year. Taking time to notice the good thi ..read more