Tony Novak

As we move into the second half of the year, here are some key steps to help you prepare: 1. Review your mid-year financials. Assess your income statement, balance sheet, and cash flow to understand your current financial health. 2. Adjust your budget based on the first half of the year’s performance and set realistic targets for the rest of the year. 3. Project your cash flow to ensure you have enough liquidity to cover expenses and invest in growth opportunities. 4. Review your tax obligations and plan for any upcoming payments or filings to avoid surprises. 5. Define clear financial goals for the next six months and develop a strategy to achieve them. If you have any questions about how we can help you free up more of your time while we take care of the numbers, let's set up a call! https://lnkd.in/evmUqGy5 #BusinessStrategy #BookkeepingHelp #bookkeeper #quickbooks #SmallBusiness #SmallBusinesses #SmallBusinessOwner #SmallBusinessSupport #RealEstateInvesting #RealEstateInvestor #RealEstateInvests #RealEstateInvestment #remotebookkeeper #bradfordbookkeeping

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Tired of earning useless CE that doesn’t move the needle? 🙄 Take your practice from standard to stand out with Mark J. Kohler’s 5 LIVE Tax Pro Talks sessions and earn 5 CE credits that will actually make you money. 💯 ✅ 5 weeks of live, actionable training ✅ Proven strategies that you can immediately implement for clients ✅ CE credits to boost your earnings, expertise, and client experience Bundle all 5 courses before 10/22 and save $100!👍 ENROLL NOW - https://bit.ly/4gX0RwZ #cpa #taxes #CE #taxprotalks #sessions #courses #credit #business #strategies

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In this podcast, we go deep into Accounting Conferences. Which ones we are attending and why…

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Can we discuss this issue real quick? I see it far too often where the real professional are fighting against half truths or complete false information just bc the person posting has alot of followers Can we make this a thing of the past? #taxes #cpa #bookkeeping #accounting

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😰 Your company receives a letter that it has been selected for a sales and use tax audit. What do you do? If you receive an audit letter (and there’s a reasonable chance that you will if you haven’t been collecting and remitting sales tax)... 🛑 Stop. 🌬 Breathe. 😶 And don’t talk to the auditor without representation from an expert in sales and use tax! I fully respect the job that auditors do, we always aim to engage with them respectfully and fairly. Unfortunately though, the nature of an audit is that it’s easy to see it as adversarial and auditors’ general premise is that they have the law on their side, so the taxpayer must comply with their requests. Those requests are going to be demanding and, in some cases, unreasonable. As a taxpayer, it’s OK to push back on some of these requests! In my experience, there are very few “random” audits. The state only has so many resources, so it is likely that the company was selected for audit for a reason. Somewhere, there was a flag and it’s important to be prepared for what those reasons might be. #salestax #salestaxaudit #salestaxcompliance

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Sometimes you need to hire someone to enter data because it is not in your budget to hire a bookkeeper. If this is the case, I highly recommend that you take your books and have a bookkeeper review it before you send it to your accountant. There is a difference between using a Certified Professional Bookkeeper and hiring someone to assist with data entry for your business. When it comes to your books, you want a professional who understands the different types of entries and how to handle them. Or at least have them review the books for you. The reason why this is so important is because if your books are not done correctly, they can cost a lot of time and money to fix them. How much better is it to have them done correctly the first time?

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LAST MINUTE TAX DEDUCTIONS! Time is ticking for that deadline ⏰ Join us for a complimentary webinar on some last minute tax write-offs to keep more of your profits. Webinar and Q & A session. Copy and paste the link and get registered today. 🎉 https://lnkd.in/eAiYNWcG

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With #farmers under more pressure than ever before, it’s crucial to have a clear view of farm performance to reduce costs & maximize profits. Join this free webinar to see what great farm financial management looks like in 2025. Figured Register 👉 https://ow.ly/kMER50Ufh20

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Understanding the impact of decisions is crucial. Recently, I engaged with a business owner who shared a concerning financial practice: managing 4-6 bank accounts and credit cards without distinguishing between personal and business use. This lack of clear bookkeeping practices underscores a broader issue among many business owners who may not fully grasp the importance of financial organization. During our discussion, it became evident that despite employing a CPA to rectify three years of tax returns, the fundamental issue persisted. It appeared the previous CPA lacked the necessary expertise to navigate the complexities caused by this disorganized financial setup. I took the opportunity to explain critical concepts such as piercing the corporate veil, missed business deductions, and the distinction between bookkeeping and financial forecasting. Despite my efforts to educate, the business owner expressed familiarity with these concepts, which seemed contradictory given his financial mismanagement. He said, "I didn't really feel I gained much out of this call. I knew all this before, but thanks." This interaction highlighted a concerning pattern of willful neglect or perhaps a misunderstanding of the risks involved. Effective financial management isn't just about compliance; it safeguards the long-term viability of a business.

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Your finances, our focus. When it comes to your business, you need to work with someone you can trust. Alloy Silverstein’s accountants and CPAs are reliable and understand that your business is your priority. Learn more about working with our team and the accounting solutions that we can offer your business on our website or contact an Alloy Silverstein advisor today. #AlloySilverstein #accounting #accountant #CPA #accountingsolutions #businesssolutions

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Dear fellow CPAs that work with individuals and business owners... Maybe this isn't the time to mention this. You're probably busy. You've got a lot going on. But did you know that we have #PFP standards? And even if you don't hold a PFS credential, we're all subject to them? Just like we're subject to audit standards, even if we're tax-flavored CPAs. Oh, sorry, what is a PFP standard? Or what even is PFP? It means "personal financial planning". So, any services we provide around personal financial planning. And before you say, "I don't give advice about investments, I know better than that!", personal financial planning covers A LOT of topics. I grabbed this from the standards compliance manual: • Cash flow planning • Risk management and insurance planning • Retirement planning • Investment planning • Estate, gift and wealth transfer planning • Elder planning • Charitable planning • Education planning • Tax planning If you're an AICPA member, you can peek it here at who it applies to. https://lnkd.in/gmW-ZMeh Now, this isn't a bad thing. Actually, it's a GOOD thing. These are all high-value services for our clients. We just have to be cognizant that we ARE providing a service that falls under the PFP Standards and follow the guidance. Which usually just means that we do the work with the client's best interest in mind. BUT the other awesome thing about this is that we're sometimes horrible at calling out when we're providing these high-value services. Folks often assume that it just comes part-and-parcel with hiring a CPA. By highlighting these services as additional benefits that we can provide, we're clarifying our relationship with our clients (this is included, this is not included) and highlight the additional value that we can bring. So, as you're working through to 10/15 and thinking about all of the planning opportunities, keep an eye on the standards but also think about how to showcase these services as something special.

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⏳ Today is the 𝗟𝗔𝗦𝗧 𝗱𝗮𝘆 𝘁𝗼 𝗳𝗶𝗹𝗲 𝘆𝗼𝘂𝗿 𝟵𝟵𝟶 𝗲𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻! Don't miss this deadline – make sure your nonprofit stays compliant and avoids penalties. Need help navigating the extension process? Reach out to us at bit.ly/sasTaxPrepDeposit and we'll guide you through it! 💼📝 #990ExtensionDeadline #StayCompliant #NonprofitSupport

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Our latest blog breaks down the top 4 questions about S-Corp payroll, including: ✅ How to pay yourself as an owner ✅ Setting reasonable salaries ✅ Managing distributions ✅ Essential tax considerations Read more on our recent blog post, S-Corp Payroll: The Top 4 Questions Answered! #PayrollTips #SCorp #SmallBusiness #BusinessOwners #PayrollManagement

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