Can you believe it has been a whole week since our last post? While the days seem to go by slowly, it also seems that new developments happen at the speed of...

We live in an unprecedented time where we are charting new and unknown waters. As new legislation is introduced and passed, it’s important (albeit, difficult...

With the Coronavirus at the forefront of news channels and more, we want to talk about preparing financially for emergencies. Please note, we are not disease...

Welcome to the future where money can be completely digital! When Bitcoin was first introduced in 2009, fractions of pennies could buy you tons of Bitcoin. T...

Have you recently hired your first household employee? Not too long ago, it was normal to have someone to help with simple tasks around the house like childc...

Some say 7 is a lucky number. Today, we talk about 7 deductions you may not have been familiar with! Here at Practical Accounting Solutions, our focus is to ...

Happy New Year from Practical Accounting Solutions!

Have you thought about your nest egg? No, we’re not talking about birds! We’re talking about the money you’ve set aside for your retirement fund. In 2019, we...

As a business owner, you’ve probably heard the break-even equation countless times. Revenues = Costs, Profit = 0, you get the picture. Break-even is often us...

Many of our clients remember the days when children were given a nickel to stop by the donut or candy shop on the way home. It was easier then to understand ...

ABS is as easy as 1-2-3! Is Activity-Based Costing right for you?

As a small business owner, how would you like to save on your federal and state taxes as well as help teach your child(ren) about saving for the future (i.e....

Last week, we introduced a few financial ratios that you can use on your balance sheet and income statement. This week, we'll add to that list! Gross Margin ...

As a small business owner, you wear a lot of hats. When you sit down to calculate your finances, a Profit and Loss Statement (or P&L statement) can help you ...

Retirement seems like a long way off, but it may be closer than you realize! Join us at Park Lane Tavern in Fredericksburg on August 27th from 6-8 for a Reti...

We pay taxes every year, but do we really know where our hard-earned income goes? Today, we take a deep dive into the top three areas your tax dollars benefi...

Like many things in life, timing is everything when it comes to choosing the best accounting method for your small business. Read on to learn about the diffe...

We are proud of our children and we want the very best for them! We support their choices as they grow up and face the world. However, if your child is going...

In the past, if you wanted information, you got in your car and visited your local library. Once there, you had the choice of either browsing the shelves or ...

For many small business owners, creating their yearly budget is one of the more painstaking tasks of their company. Today, we talk about 5 easy steps to buil...