The Blog

You might have heard the term “profit first accounting” buzzing around Chattanooga business circles as of late. The philosophy was made popular by Mike Michalowicz and his book, Profit First. His theories have blossomed into reality for many business owners. Today, I thought I’d cover some of the core principles that might spark new accounting ideas for the future. A … Read More

I get a lot of replies and personal comments about the emails that I send out, both to our business owners (like you), and to our family/individual clients. So I thought I’d offer my quick thoughts to you as to why I do this, and open our kimono a little. I’m certainly not a marketing expert, but I’ve discovered something … Read More

How many times have you started work early — and the next thing you knew it was 4PM … and your instant reaction was: I haven’t made any progress today on my most important stuff ? If you’re like the rest of us: quite a few times — and maybe “most of the time”. That’s because the least-optimized asset on … Read More

When many people start a business, they do so using their own resources and funds. And there can be great wisdom to this … retaining control, a more lucrative exit, etc. But it also puts your own personal resources on the line, and there are greater risks, as well as possibly a slower build to success and financial stability for … Read More

Now that 2018 extended returns for businesses are truly put to bed now, we can turn our gimlet eye on 2019. And one thing that might be worth discussing is your operating entity. A quick rundown on business structures is never bad, ESPECIALLY when tax laws change and affect Chattanooga business owners’ personal tax situations so dramatically. The three most … Read More

We just finished all of the extended returns for our business owner clients, and today I’m feeling particularly grateful. Because over the past few weeks and months, I’ve been reminded of how important our work is. Not because “taxes and accounting” are inherently noble — but rather that we get to play a role in the results for hundreds of … Read More

I don’t know about you, but my Facebook newsfeed is FILLED with so-called experts slinging around big revenue numbers in their business to grab my attention, and get me to sign up for their stuff. But, see … I’m an accountant. And I know the truth: Revenue means nothing unless there is profit attached. And there are two parts to … Read More

I have seen plenty of Chattanooga businesses get into hot water because they were using the wrong method to track their cash. Yep, today, let’s talk accounting. 🙂 Specifically, whether your business should operate as CASH or operate as ACCRUAL. Cash is a great option to start. It’s simple. But you can get into hot water, come tax time, or … Read More

There was some large-ish news last week about some of the top corporate leaders in the world, and a new focus from influential CEOs (including from Walmart, Apple, Pepsi, and others) that “they must also invest in their employees, protect the environment and deal fairly and ethically with their suppliers”. Instead of ONLY focusing on shareholder value, these leaders are … Read More

Things certainly haven’t gotten CALMER over the past week. Whether it’s the rumors of recession (or worse), continued chaos in the political world (and still over a year away from elections — yikes), increasing cultural division, or something more local, it’s a mess out there. I put out some reminders last week, and they still seem important to keep in … Read More