Did you know that 82% of businesses will fail due to cash flow problems? It can be tough to manage your company’s finances and keep track of your business’ performance on your own. Juggling a busy schedule and trying to stay on top of your company’s financials can be overwhelming and time-consuming. That’s why so many companies hire a bookkeeper. […]
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5 Signs Your Company Needs a Fractional CFO
A recent study reveals that 82% of businesses will fail because of problems related to cash flow. Further, 48.9% of small businesses will survive beyond five years. It pays to know how your company is fairing financially, but not every business has enough money to pay a full-time Chief Financial Officer. That is why many small businesses often opt to […]
Explaining What CFO Services Are
The average chief financial officer (CFO) in the US makes around $400,000 a year. However, having a c-suite level financial officer is invaluable for any business. But, of course, hiring a full-time CFO is not financially feasible for small and medium-sized businesses. Fortunately, you can hire Propel CFO to provide fractional CFO services to maximize your business growth potential while saving money. This […]
C-Corp and S-Corp: The Essential Comparison
Has your business been growing recently? Are you no longer eligible as a sole proprietor or single-member LLC? Have you been looking to form a corporation? If so, you’ve come to the C Corporation vs S Corporation crossroads. You need to figure out whether you’re going to be an S corp or a C corp. In order to do that, […]
Exploring the Advantages of Outsourced Accounting
Outsourcing is one of the most common strategies used by companies to save money. In fact, a study found that 39% of companies outsource their finance functions. Do you want to learn more about why you should consider outsourced accounting services for your business? Keep reading these advantages of outsourced accounting management to see if it would be a good fit […]
A Small Business Accounting How-To Guide for New Entrepreneurs
Did you know there are 31.7 billion small businesses in the US? Unfortunately, as many as 20% fail within the first year. So how do you ensure you have time to concentrate on the things that matter, bringing in revenue? One way is to streamline your accounting process and know what you are doing. Read on as we discuss the […]
Small Business Tax Deductions Can Be Life-Savers
The outbreak of the coronavirus pandemic and its repercussions took a serious toll on small businesses across the United States. Not only did some businesses have to shut their doors for a period of time, but the ongoing labor crisis is making it difficult to do business even as lockdowns have reduced. As of February 2021, 53% of small business […]
Explaining the Importance of Bookkeeping
Are you a business owner? No matter if you run a large business or a startup, there’s one thing you need to have. A business needs a bookkeeping system. Many people find it boring. This is often the last thing on a business owner’s mind. The reality is that bookkeeping is an important part of running a business. Not having […]
Consider a heavy SUV for your business
The nice weather and the general downturn in COVID-19 cases has spurred some business owners to think about buying a car this spring. Here’s an option that may save on taxes.
Update on the employee retention credit
Keeping employees on the payroll has been difficult for many businesses over the past year. The latest COVID-relief law, the American Rescue Plan Act, extends the employee retention tax credit.