5 Steps to Gain Full Benefit from the New Tax Law - Focus CPA

5 Steps to Gain Full Benefit from the New Tax Law

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Tax filing is just around the corner.  The impact of the biggest overhaul of the U.S. tax code in three decades has arrived and it will spread far and wide.  The Tax Cuts and Jobs Act became law in December 2017.   What’s at stake?  Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2017, which ended Sept. …

Being Thankful

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As Thanksgiving approaches, I focus on the things that I am thankful for – As for my career, I am in the right place for me. I love the challenge! I cherish the clients I serve, for the problems they bring to me to solve. I value the team that works with me to serve our clients I cherish a …

How to Reduce YOUR Fear In Business? - Focus CPA

How to Reduce YOUR Fear In Business?

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Starting a business is like jumping off a cliff. Some enjoy the thrill; others face the fear and just do it. However, if that fear becomes too much it can stop the growth or destroy a business owner. As Henry Ford stated “Whether you think you can, or you think you can’t–you’re right.” If you think you will fail – …

What Scares You? - Focus CPA

What Scares You?

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I am not one who likes scary movies. I think life itself is scary enough. It might be that I find myself in enough uncomfortable situations that I don’t need to go looking for more. The top fears are death and public speaking. Personally, I take the approach of being grateful for each day that I am living. Tomorrow is …

Building a Vision for your Business - Focus CPA

Building a Vision for your Business

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“Have a vision. It is the ability to see the invisible. If you can see the invisible, you can achieve the impossible.” ~ Shiv Kiera Every business owner starts with a vision.  For some it is simple – earn enough to live comfortably and have more control over their time.  Few write it down or spend time refining it.  If you …

My Vision, My Life - Focus CPA

My Vision, My Life

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When I graduated from high school, I had goals.  My goals were – to be a CPA, get married, be a partner in a CPA firm, own a nice house and have a family.  I wanted to earn enough to have a comfortable life.  It took 10 years to check off the goals.  However, I ran into a problem. I …

How the New Tax Law Affects Business Owners

How the New Tax Law Affects Business Owners

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Did you know that only 50% of taxpayers pay income taxes?  That won’t change with the new tax laws.  However, there is good news for those 50% that do pay. As we were preparing 2017 tax returns this year, our tax software provided a comparison of  what our client’s 2017 income will look like under the 2018 tax law.  For …

Creating a Business Budget – Backwards (SdrawkcaB) - Focus CPA

Creating a Business Budget – Backwards (SdrawkcaB)

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The goal of a budget is to create a plan to get the end-result you desire.  So why not start with the end and go backward? Here are five steps to create your backward budget: Step 1.  Define your desired net income.  Add your desired business income to how much you need to reinvest to keep the business financially healthy.  If …

Every Day Counts - Focus CPA

Every Day Counts

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We are in the midst of summer; the days are warm and humid in Wisconsin. We just had a streak of 3 weeks where I stayed in the house and enjoyed the air conditioning. It was too hot for me to enjoy outdoors. I don’t want to waste a day. It is time for me to adapt and make the …

Work Smarter Not Harder - 4 Steps

Work Smarter Not Harder – 4 Steps

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Often I hear the statement work smarter not harder.  An easy statement to make much harder to apply.  The Pareto principle states that 20% of what we do achieves 80% of the results.  Wouldn’t it be wonderful if we knew actually, what the 20% of activity was.  Each of us are only given 24 hours a day.  So why can …