Kyle Geers, CPA’s Post

Happy Monday! Let me start off this great week with saying... Your company is too valuable to put its future anywhere but in the hands of professionals. BUT consider the costs associated with full-time experts: ~Full-time bookkeepers range from $40,000-65,000/yr ~Staff Accountants range from $48,000-77,000/yr ~Controllers range from $110,000-180,000/yr ~CFO's range from $122,000-350,000/yr Add 6.2% for employer-paid Social Security and 1.45% for Medicare, then add state and federal unemployment taxes. Add 15-20% for employee benefits, along with Holidays, PTO, Vacation and/or sick time. Those costs DO NOT include the costs of training! Nor do they account for the fact that the average productive time for a full-time employee is roughly 80%, which means you’re paying for 20% down-time.   We can customize a bookkeeping system that gives you real-time financial insights into your business's performance. As part of your business team, we want to work together to make sure your dreams work and make financial sense for you. Your success is our success! Give us a call today and let us know what your dreams are and, together, we can help make them a reality!

Why as an employee did I enjoy working over Christmas and why as a business owner the end of the year is now a time of dread. I used to love working over Christmas. Before I ran an accountancy practice and a business brokerage, I would almost always work during Christmas and New Year. This was for several reasons; 1. I could save my annual leave for when it was sunnier or for extra time for studying 2. It was really quiet and I could get lots done. 3. I just really enjoyed working. 4. I thought the period between Christmas and New Year was just too long, and I knew if it was just full of mince pies, chocolate and films that would be an automatic half stone added to the scales. After a few years of being a business owner Christmas looked different. I had a son so wanted to be able to enjoy the Christmas break more, however, as so many deadlines were around Christmas I still didn’t take a lot of time off. Plus some of my senior team always took the whole of Christmas off so I ended up always having to cover and work. The reason as an employer the season becomes so stressful are as follows: 1. Work still has to be done even if many want to be off 2. Two weeks of no billing can be a death sentence for many businesses 3. There can be resentment from the staff that end up having to cover everything. Our practice has closed the last two years for Christmas, however there were still around 4 employees that ended up having to do work to help clients, whilst others were able to fully switch off. 4. There is often a lot of illness in winter, so often people are covering for others. 17 years and I still haven’t found the right balance and I am currently battling to find a solution for this year. If you have had enough of having to deal with these sorts of resourcing issues, there are a few solutions. 1. Offshore your team, which many service firms have already done and many more are doing. 2. Replace as many people as possible with automation/AI. 3. Ensure your team have hit all their targets early and work is all done so that you can close for the full Christmas period. 4. Decide this is your last Christmas of stressfulness and ask Succession Planning Limited to find you a new owner for your business. I am personally still working on option 3 for Goringe Accountants, however, also looking to utilise AI/automation where appropriate so that the team can concentrate on advisory and value added services. I can then just concentrate on finalising Succession Planning Limited deals over the Christmas period and talking to business owners that would like to discuss the possibility of selling their business. If you would like to book a time to talk, just DM me. I am happy to talk at times when your team aren’t around, including early mornings, evenings or Saturdays. I try not to work on Sundays. How are your company Christmas coverage preparations going?

🌟 Happy Monday! 🌟 As we start a new week, let’s focus on setting goals, staying organized, and pushing forward toward success. At PrimeTime Bookkeeping, we believe that every productive week brings us one step closer to achieving our dreams. If organizing your finances is on your to-do list, remember we’re here to support you! Let’s make this week a great one—full of growth, achievement, and progress. Here’s to a productive week ahead! 📈 #MotivationMonday #PrimeTimeBookkeeping #FinancialSuccess #SmallBusiness #NewWeekNewGoals

Ever feel like your workload is taking over your weekends? I’ve been there too. Just last year, my wife gave me an ultimatum: take her on a nice dinner date or be prepared to sleep on the sofa. Thankfully, I have a second home—my mom's house, where I ended up spending the night. 😂 All jokes aside, if you're facing similar challenges, it's time to hire the right talent to keep things running smoothly while you enjoy quality time with your loved ones. It’s never too late to make things work. ❤️ The best way to tackle this ongoing issue is outsourcing. More than 50% of firms still handle this traditionally, which isn’t bad, but for the long haul, keep your best talent in-house and outsource the rest. This approach gives both you and your top employees the opportunity to grow over time. 📈 Want to know more about our accounting and tax preparation back-office services? Contact me and sign up for a free 16-hour trial period. 🕒 Phone: +1 978-321-3216 Email: [email protected] I'll be responding to all messages, emails, and calls on Monday as I'm finally going on a dinner date with my wife! 🍽️💕 #CPA #bookkeeper #Outsourcing #familytime #weekendvibes #AP #AR #taxprepration #accounting #bookkeepeing #workload #Accountingoutsourcing #taxpreparation

We are already 4 days into March! Phew! You must be thinking, you have not even paused for the year as much as you would want to. And you are already thinking that you this month is also going to pass you by in a blink of an eye. What's worse is that the mountain of work you have now seems to be more insurmountable than what you started your year with. Now that the 1st quarter is about to be over, maybe it's time to think about delegating some of the tasks to someone else as a part of your strategy for the 2nd quarter. So when is it time to delegate your bookkeeping? One simple gauge is called the 70% rule. If another person can complate the task at least 70% as well as you can, you should delegate this to them. I know, it will be tough to let go of the 30% but then this will free you up to focus on other income generating activities and, hopefully, achieving better work-life balance. Remember,success will not come from perfecting the performance by a single individual but more from investing the best time and resource possible into the business as a whole. Need someone to delegate your bookkeeping and other repetitive and time intensive tasks? Book a call with us at: https://lnkd.in/gHDdrc4K #delegation #virtualassistant #bookkeeping #stewardly

**Tax Tip** Boosting Team Morale with Trivial Benefits (Even if its just you)! Ever wondered about those little tokens of appreciation that find their way into the office? The chocolates on your desk, the occasional team lunch, or even a bottle of wine from the boss? These are more than just small gestures—they're what we call 'trivial benefits,' and they can play a big role in boosting team morale. Trivial benefits are those delightful perks at work that come with a few simple rules: they must cost £50 or less, aren't cash or vouchers, aren't rewards for performance, and aren't part of your employment contract. Think of them as those sweet everyday surprises that make your workday a little brighter. But why 'trivial'? Well, they're called that because they're meant to have little monetary value. That's why they're tax-free! Yup, you heard that right. These small tokens of appreciation don't need to be declared to HMRC, meaning you're exempt from paying tax and National Insurance on them. However, for the company, they are tax deductible! Before you start thinking about how to shower your team or yourself with gifts, there are a few guidelines to keep in mind. If you're a director in a 'close' company, you can't receive trivial benefits totaling more than £300 in a tax year. But don't worry, this limit doesn't include the annual events like Christmas parties, those have their own £150 per employee exemption! So, whether it's a birthday celebration or just a random pick-me-up, trivial benefits are a fantastic way to show appreciation without breaking the bank. After all, it's the little things that make the biggest difference in keeping our teams happy and motivated! #EmployeeAppreciation #TeamMorale #TrivialBenefits #TaxTip

WEEKEND RUSH On the 21st Sep last weekend, well it was very rush for me going from one place to another. I was practically out the entire day. ENTIRE means NOT IN THE HOUSE until NIGHTTIME..............I was bushed by the time, night came. Well, I was quite caught up with personal things as well as in work. Especially work, when my boss wanted me to return to office on that in the afternoon before she leaves for China on Sunday. It was non-stop from morning. Now not forgetting the closing which I would need to do before the company accountant starts chasing us for documents to be done by her. I have tons of workload which I need to do before my weekend ends. Anyway, it was a short weekend for me. In fact, I did not get to rest much. Hopefully, this coming weekend I would be able to get my hibernation mode on. At the moment, it is not possible as there are many pending work. Apart from that, it is not possible for me to clear my annual leaves now until end of the year..............With the negative demon here, all the work would be done by me and also she only just shakes her legs only. That is the main difference between her job and my job. Sigh, cannot wait until this weekend comes and I get to laze around a bit. At times, the negative demon brings more problems than solutions. The main reason why I do not enjoy conversing with her, as she is mere empty vessels who talks a lot and do nothing but to take care of her own interests and her own gains only. Not forgetting, not a team player at all............... The main thing now is to get my work done after this!

WTF is Feb 29th: Accountants can Leapfrog the competition by Standing out 🐸 😲 The best opportunities in the accounting profession are also the most competitive. 👉 You know the ones I’m talking about 👈 ◽ The most flexible WFH policies ◽ Highest paid ◽ Most interesting work ◽ Best perks  ◽ Most prestigious 💡 If you want to make the most of the accounting profession, you have to bring something different. —------------------ A leap year is weird, it’s different. It makes daylight savings time look vanilla. There are lots of days on the calendar, but February 29th is a day that always gets attention. —------------------ ❔ If you’re an unhappy accountant here are 2 questions: 1️⃣ What are you doing that makes you different? Your answer or lack of an answer, will help guide your focus in a productive way. 2️⃣ What happens if you’re born on Feb 29th? 🤷♂️ Seriously, do you age more slowly?! Gotta get me some of that! —--------------------------------------------------------------------------------------------------- 🚀Make the most of your accounting career with the No Flux Given playbook and the Sketchy Business Practices course at MikeFromAccounting🚀

The most important holiday of the year is right around the corner. In this blog, Planet Professional's Charlotte Appel outlines why the accounting space is a great field for moms looking to greater balance professional and family lives. #MothersDay #AccountingJobs #ContractJobs

NO ONE can run your business like you do 💪 🤝 Customer service? No one overdelivers like you do ☎️ Sales calls? No one closes 'em like you can ➕ New leads? No one adds them faster than you You are THE BEST at everything … … but then that means you literally do EVERYTHING. From the social media posts to the Excel spreadsheets to the payroll reports and even taking out the garbage – you do it all. Because, after all, no one can do it as good as you can, right?😕 But on the flip side of that coin … what's left for you?💔 ⚽Instead of spending Saturday morning at your daughter's soccer game, you're at the office catching up on payroll and client invoices 🍷Instead of staying out late with friends having a good dinner, you work late to catch up on all of your vendor payments and bank statements 🏖️And can you remember the last time you took a vacation? (And I don't mean a vacation, where you spent half of every day on your laptop putting out fires) And it is true – no one can run your business like you do💪 BUT - that doesn't mean you have to do every single thing all by yourself (especially those boring things you do NOT like to do, like quarterly tax filings and endless receipt management🧾) After all, you didn't leave the 9-5 world … just so you'd have to work 24/7 for the rest of your life, right?⏰ That's why I LOVE what I do – because, even as a bookkeeper, I get to help you get back to your LIFE🌼 ⚽You can sleep in on Saturday – because payroll is already done and your clients have already received (and paid) their invoices 🍷You can leave the office while it's still light outside – because all your vendors are happy and paid early 🏖️You can even **gasp** plan a vacation that's actually a vacation! You CAN have both a business AND a life❤️ I know – because that's the work-life balance I LOVE to give to the rest of my clients. Want to get your evenings, weekends, vacations and LIFE back, too? Schedule a free call today to get started❤️ https://lnkd.in/gTd695PK