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 …

Being Free - The Role We Play | Focus CPA

Being Free – The Role We Play

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Are we free?  Free to live our life how we choose. Maybe. On July 4th we as citizens of the United States celebrate our independence from England.  As I watched the exploding, dazzling fireworks, I never gave my rights, responsibilities and opportunities as a us citizen a thought.  I take those for granted even as they influence every day of my …

Planning for when you are no longer here

Planning for When You are No Longer Here

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As we zoom through life we live for today, without much thought for tomorrow. We take care of what is in front of us. Yes, we know there is no guarantee that you will be alive tomorrow. Yes, accidents, cancer and heart attacks happen, but to others not us. In reality, we do not know when our time is up. Therefore, instead …

Are You a Hunter or a Farmer?

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Some business owners hunt for their next sale while others grow from within. Deep down I am a farmer. I love to nurture relationships, to grow the business organically. Just look at my garden. I love perennials, plants that come back year after year. I love color; my garden is full of deep reds, purples and yellow. Once the snow …

Get Your Business Off to a Great Start with a Great Accounting System!

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Are you starting a new business? Or struggling financially with an existing one? Small business owners wear many hats. One hat they wear is the Accounting green shade. Here are 10 best accounting practices that will remove the clutter, save time and get financial results. Keep business transactions separate from your personal – set up a separate checking account and …