3. What's your profit margin telling you? Revenue is vanity, profit is sanity! Honestly, it doesn't really matter what you make (revenue) as much as what you keep (profit). Are you actually making money, or just staying really, really busy? 4. Are your expenses under control? Those "small" monthly subscriptions multiply faster than rabbits. 🐰 Seriously, when did we all become subscription collectors? Take a hard look at your expenses... line item by line item. Make sure there's no 'extras' that shouldn't be there. Time to trim the fat! 5. Do you have a clear financial roadmap for the rest of the year? Winging it might work for weekend plans, but your business needs a real roadmap! 'Cause if you don't know where you're going (destination) and don't have a plan in place to get there (a financial GPS), how do you know what where to turn if you need to course correct? 🚩Red Flags🚩
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BOI Reporting UPDATE I'm gonna cut right to the chase ('cause this one's critically important, and I've been remiss on getting my newsletter out --- been out and about visiting some sunny places lately! So PLEASE READ the updates below! NEW BOI DUE DATE: March 21, 2025 TLDR: Guess what? There's a new ruling on the BOI Reporting case. Most businesses are now (once again) 'REQUIRED' to file a BOI Report!!! DUE DATE: MARCH 21, 2025 Here's what the FinCen website has to say , and I quote: "ALERT...
HAPPY NEW YEAR!!! I cannot believe that we are almost halfway through January! One of my boys is already back in Hawaii at college for spring semester. The older one goes back next week for his very last semester in college and will be graduating in May. Am I really old enough to have 2 boys that are almost finished college? I tried to disconnect and spend as much time as I could with them. But, it's never enough <sigh>. How about you? Were you able to 'close shop' and get some quality time...
Can you believe it, Reader? 2024 is coming to a close. It's time to reflect on the last 12 months, cherish your time with friends and family, and get geared up for an amazing 2025! But before that... there's just a few things left to wrap up the year! Extended DEADLINE for BOI Reporting TLDR: The deadline for BOI Reporting per the Corporate Transparency Act (CTA) has been pushed to January 13, 2025. For all the details, check out this article from the Journal Of Accountancy. Remember a few...