In today’s competitive business landscape, financial benchmarking has emerged as a critical tool for organizations seeking to optimize their performance and gain a competitive edge. By comparing financial metrics against industry standards, companies can identify strengths, weaknesses, and opportunities for improvement. This blog post delves into the best practices of financial benchmarking, exploring its steps,
Author Archives: Whittaker
17
Jul
Jul
Understanding Deductible Company Entertainment Expenses Running a business involves various costs, some of which can be deducted from your taxable income. Among these deductible expenses are company entertainment costs, which can provide opportunities to strengthen business relationships and boost employee morale. However, navigating the rules around what constitutes a deductible entertainment expense can be tricky,
10
Jul
Jul
As a business owner, travel can be a significant part of your operations. Whether you’re meeting with clients, attending conferences, or scouting new locations, travel expenses can quickly add up. Fortunately, the IRS allows you to deduct many of these expenses, which can help reduce your taxable income. Understanding these deductions and how to properly
03
Jul
Jul
Small and medium-sized enterprises (SMEs) often encounter significant challenges in managing their financial operations efficiently. This is particularly true for companies in the high-tech, manufacturing, and distribution sectors, where financial complexity can be high, and resources are often limited. One effective solution gaining traction is the outsourcing of Chief Financial Officer (CFO) services. This approach
Advisory|Strategic Guidance|Value Building
Why Do I Hold Real Estate and My Company In Separate Entities
26
Jun
Jun
When managing both a business and real estate investments, structuring your holdings wisely is crucial for protecting your assets. It is also important to consider when optimizing for financial management, and enhancing operational efficiency. One highly recommended strategy is to hold your real estate and your company in separate entities. Let’s explore why this approach
19
Jun
Jun
Cash Flow Analysis and Forecasting It’s no secret that running a business can be challenging at times. This includes trying to understand and better your cash flow especially if your business doesn’t have a controller or CFO. An outsourced Chief Financial Officer (CFO) brings a wealth of experience and a fresh perspective, providing the strategic
12
Jun
Jun
Navigating the complexities of business taxes can be daunting, but ProActive Tax Planning can significantly reduce your tax burden. Every year we have people asking how they can lower their tax bill. The NUMBER ONE THING you can do is plan ahead. This is how you can actually reduce your tax bill because there are
Advisory|Strategic Guidance|Value Building
What are the risks of an entity guaranteeing a loan for another?
05
Jun
Jun
In the world of business, guaranteeing a loan for another entity can be a strategic move. However, it comes with significant risks. Understanding the potential consequences if the other entity becomes insolvent is crucial for making informed decisions. In this blog post, we’ll explore what happens when your business guarantees a loan and the borrower
29
May
May
In today’s competitive business landscape, effective financial management is crucial for success. Using a virtual CFO or controller has emerged as a strategic solution for companies aiming to optimize their financial operations. This ensures that they can focus on their core business activities. This comprehensive approach offers numerous benefits, including access to specialized expertise, cost
22
May
May
If you own commercial or residential rental properties, cost segregation could be your ticket to substantial tax savings. This powerful tax strategy accelerates depreciation deductions, enhancing your cash flow and optimizing your financial returns. Here’s how cost segregation works, the types of properties that qualify, and what kind of tax savings you can expect. How
