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    Activity-Based Costing: Is it right for me?
    • Oct 28, 2019
    • 2 min

    Activity-Based Costing: Is it right for me?

    ABS is as easy as 1-2-3! Is Activity-Based Costing right for you?
    3 views0 comments
    Emergency Funds - How to Prepare for the Unexpected
    • Oct 21, 2019
    • 2 min

    Emergency Funds - How to Prepare for the Unexpected

    In the hit NBC show This is Us, a married couple plays a game called "What's the worst that can happen?" In this game, they share their deepest fears of the worst outcomes from their current situation. Afterwards, they feel better knowing the worst possible scenario is often also the least likely. It's hard to prepare for the unexpected. Cars break down, AC units break, and sometimes we just really turn our finances on their head. Enter the Emergency fund, or as BudgetsAreSex
    8 views0 comments
    Financial Ratios for Your Small Business Part II
    • Sep 30, 2019
    • 2 min

    Financial Ratios for Your Small Business Part II

    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 Gross Margin = Gross Profit / Net Sales When You Use It: The Gross Margin Ratio gives you a percentage of sales dollars available after you've deducted the cost of merchandise. If yours looks particularly high or low, remember that this varies by industry and by company! Profit Margin (after Tax) Profit Margin = Net Incom
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    Types of Liabilities You Don't Want to Forget on Your Balance Sheet
    • Aug 12, 2019
    • 2 min

    Types of Liabilities You Don't Want to Forget on Your Balance Sheet

    ​ Two Categories of Liabilities: Current and Long-Term To get a better view of your current and long-term liabilities, you can always create a classified balance sheet that breaks down your different liabilities. Current Liabilities Liabilities due within an operating cycle of the company. For most, one operating cycle is one year. Long-Term Liabilities Liabilities due more than one operating cycle of the company. These are items like mortgages on buildings, vehicle or equipm
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    How Do I Choose between the Cash or Accrual Methods?
    • Jul 29, 2019
    • 3 min

    How Do I Choose between the Cash or Accrual Methods?

    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 differences between cash and accrual accounting methods and decide which is best for your small business! Choosing Your Method You'll choose your accounting method the first time you file a tax return, and then you'll continue using this method for your future returns, too. If you would like help with this big decision, we are
    18 views0 comments
    Meet Grayson Media!
    • Jul 8, 2019
    • 2 min

    Meet Grayson Media!

    Grayson is the CEO of Grayson Media LLC: a Social Media Marketing, Photography, and Videography company. But, this is not the path she had originally planned. Grayson attended Radford University with the dream of becoming an on-air radio personality. With a Media Studies and a concentration in Production Technology degree in hand, she set off to find her future career. She discovered a radio station that she had loved and listened to her whole life. Once she got there, she r
    54 views0 comments
    5 Easy Steps to Managing your Payroll
    • Apr 23, 2019
    • 5 min

    5 Easy Steps to Managing your Payroll

    As your business grows, you may find you need to hire your first employees. While this is an exciting step for any business owner, it is important to ensure you take the right steps when setting up and managing employee payroll. Read on for 5 easy steps for managing employee payroll! Photo by Priscilla Du Preez on Unsplash 1. Consult with payroll professionals and register as an employer As a business owner, you most likely have an accountant or other business mentor who can
    4 views0 comments
    4 Easy Steps to Creating Your Small Business Budget
    • Apr 16, 2019
    • 2 min

    4 Easy Steps to Creating Your Small Business Budget

    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 building a budget for you small business. Interested in learning more? Check out our Finance Fundamentals for Your Small Business May 7, 14, & 21! Get tickets here Photo by Fabian Blank on Unsplash Step 1: Determine Your Revenue Your most basic revenue is simply selling price times number of units sold. This can easily get mo
    7 views0 comments
    8 Bookkeeping Terms Every Business Owner Should Know
    • Apr 9, 2019
    • 2 min

    8 Bookkeeping Terms Every Business Owner Should Know

    Bookkeeping. For some business owners, bookkeeping may feel very tedious or challenging to keep up with. For others, this type of financial organization is right up their alley. No matter which mentality you have, all business owners must keep these records in order to plan ahead financially, ensure your costs and profits are accounted for, and to plan for tax season! Read on below for some key terms to know with Bookkeeping! Photo by Thought Catalog on Unsplash 1. Cash vs Ac
    18 views0 comments
    A Breakdown on Penny Stocks
    • Mar 19, 2019
    • 2 min

    A Breakdown on Penny Stocks

    Penny stocks have been around since the early 1900s, but you might have learned most of what you know from the popular Leonardo DiCaprio film The Wolf on Wall Street. Today we break down what penny stocks are and some things to remember when investing in penny stocks. Photo by Jonathan Brinkhorst on Unsplash a brief History of Penny Stocks Since the early 1900s, companies have broken down their stock and sold it for mere pennies. Today, especially with advancements of techno
    14 views0 comments
    Is Your Small Business Being Audited by the IRS?
    • Mar 12, 2019
    • 3 min

    Is Your Small Business Being Audited by the IRS?

    An audit can be stressful for any business owner, and even more so for those that bend the rules or do not keep organized business books. Today, we address 5 common factors the IRS considers when auditing small businesses. We also always recommend working with an accountant to help you navigate your audit! photo from wix.com 1. Does your business handle primarily cash? If so, ensure you have a consistent and organized way to record transactions if they occur. Ensure you do no
    10 views0 comments
    How to Jump-Start Your Child's Credit Score
    • Mar 5, 2019
    • 2 min

    How to Jump-Start Your Child's Credit Score

    We've discussed in previous posts how to start teaching your child financial responsibility through a bank account, but what about their credit score? Credit scores have such a huge impact on a child's financial future, and you can help them establish and build their credit from early on in preparation for future student loans, car loans, or other future financial endeavors! photo from wix.com Add your child as an authorized user on your credit card While taking out a credit
    14 views0 comments
    Qualified Business Income (QBI) Deduction for Small Business Owners
    • Feb 26, 2019
    • 2 min

    Qualified Business Income (QBI) Deduction for Small Business Owners

    We understand, taxes are hard. That's why we're here to help. Today, we break down one big change in the tax code that may affect your business: the Qualified Business Income Deduction. This change is in a series of others within the new tax code that helps you simplify your taxes as well as provide a significant reduction in how much you pay in Federal taxes. photo from wix.com Here's the Low-down With the recent government shutdown, many of these clarifications were long-aw
    16 views0 comments
    Thinking of Opening a Bank Account for your Kids?
    • Feb 19, 2019
    • 2 min

    Thinking of Opening a Bank Account for your Kids?

    Whether you're expecting, a new parent, or have been a parent for years, opening a bank account is a great tool to help your child's financial future. This week, we tackle benefits of opening a bank account for your child and how it can benefit your family in the long run. photo from wix.com Opening an account for the future You can open a savings account for your child that you can later turn into a checking account once their older. Talk to your local bank (we recommend fi
    5 views0 comments
    5 Ways to Manage your Credit Card Debt
    • Feb 12, 2019
    • 3 min

    5 Ways to Manage your Credit Card Debt

    Credit cards are useful for multitudes of financial needs in today's world. Young adults learn about managing money and building their credit through credit cards. As we get older and bills get higher, we use credit cards to pay bills, manage large expenses, and more. However, what do you do when you rely too much on credit cards, and now you find yourself stuck in overwhelming debt? Read on to find 5 practical ways to manage your credit card debt and pay it off. photo from w
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    3 Smart Ways to Invest Your Money
    • Jan 29, 2019
    • 2 min

    3 Smart Ways to Invest Your Money

    Investing is a long-term strategy of making more money and expanding your financial portfolio. It's also a personal choice on how you choose to invest: the stock market, bonds, mutual funds, new ventures, and many more! However you choose to invest, here are 3 reasons why investing is a great opportunity in expanding your financial gains! photo from wix.com 1. Be a Part of Something new There are approximately 543,000 new businesses that start each month according to Forbes.
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    Why You Should Hire an Accountant for Your Personal Finances
    • Jan 15, 2019
    • 2 min

    Why You Should Hire an Accountant for Your Personal Finances

    Hiring an accountant for your personal finances may seem like an unnecessary expense, but often times your accountant will save you more money than the cost of hiring them. By hiring a professional to manage your finances, you'll be able to rest easy during tax season and beyond. Photo from wix.com tax season While it can be simple to use tax preparation software to prepare your own taxes, about 21% of paper tax returns have errors according to the IRS. This isn't necessarily
    1,551 views0 comments
    Why Your Small Business Needs an Accountant
    • Jan 8, 2019
    • 2 min

    Why Your Small Business Needs an Accountant

    Accountants do more than just the basics of accounting. At the end of the day, they are financial experts that can save you and your small business money and time so your can focus on growing your company! photo from wix.com Many Accountants are Tax experts Many accountants are up-to-date and trained to learn the nuances of changing tax laws. These laws are confusing at best, so hiring a tax professional can help you understand changes and utilize them to your best interest.
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    Our primary mission is to maximize benefits to our clients by providing quality, personalized and attentive accounting services. As your trusted advisor, we’re dedicated to doing everything we can to improve your business practices and operations so you can relax and focus on what you do best: growing your business.

    Office: 10705 Courthouse Rd, Suite 116, Fredericksburg, VA 22407

    Phone: (703) 309-5754

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