In the modern economy, companies of all sizes need to think about modeling financial concerns. This involves analyzing past and current numbers to determine how to respond to present and future issues. People at smaller firms, startups, and even larger ones without a focus on analysis may wonder how they'll tackle the job. Fortunately, you can ask an on-call outsourced CFO to lend a hand. However, you should know what to expect when you hire an on-call CFO to assist you with financial modeling.

As a business owner, you might have recently made the decision to hire a bookkeeping professional to help you with all of the bookkeeping tasks that have to be taken care of. If you want to do the best job of communicating with your bookkeeping professional while they are handling your business, you'll probably find the following tips to be quite helpful. Try to Communicate Digitally When Possible Even though you might meet your bookkeeper in person when they first start handling your company's finances for you, and even though you might talk to them on the phone from time to time, you might want to communicate with them online—such as via email—when possible.

Do you, like many American taxpayers, wait anxiously to see if you will get a tax refund each April? Do you worry about having a tax bill instead? And would you like to be more in control of the size and timing of your refund? If so, here are a few things you can do to right-size your income tax refund. 1. Target a Goal To determine what is the right size refund for your situation, begin by deciding on a goal to pursue.

How tax compliant is your business? If you run a small business without a fully-fledged finance department, there are high chances of running afoul of tax laws. As an average entrepreneur, you may have an idea of the taxes you should pay but may be ignorant of some specific tax codes. It is prudent to use a tax preparation service if you have little knowledge of tax matters. Why is it a good idea to use a professional tax preparation service?

In business accounting, there are two ways to calculate profits and losses. These are cash basis and accrual. Each method has its pros and cons, and it's wise to learn a bit about both before committing to one. Definitions Cash basis accounting is a process where profits and losses aren't booked until money officially exchanges hands. Accrual places profits and losses on the books the minute the transactions are registered.

As a business owner, you have dozens of tasks that require your attention each day. You lack the time in your typical workday to handle practical matters like taking care of your books or filing your taxes. However, you also cannot let these important obligations fall by the wayside or simply not get done. Instead of trying to handle them yourself, you can outsource them to one of the certified public accountants in your area.