Focus CPA

People who have good health have many dreams; those that are struggling with their health have only one – to be healthy. My life is good so I have many dreams.

Like a bucket of water full of holes – your business has areas that can leak profits. However if you do not have the sales coming in – then you may not be holding the bucket under the faucet or you missed the rainstorm.

Whew! Tax season is finally over. This one came at full force with the new tax law, new staff and bringing on new clients. The IRS shutdown didn’t help. The big wave was the release of the final regulations in February on the major tax law passed in December 2017. Our tax software was updating almost every day. We are finally coming up for air.

Can you imagine waking up knowing that your business will cash flow that day? It is possible. Removing that stress will release your energy to do great things! Does it Sound like a miracle to you? Maybe it doesn’t happen in your industry. Take a close look around. Reoccurring sales abound! Many are Subscriptions and membership programs such as Amazon’s “subscribe and save” feature, Cellphone service, online storage, magazines and even meals.

Every spring I get a beautiful surprise! In early March, I discover fresh sprouts on the garden rhizomes and bulbs sitting in my basement. I dug them out last fall before the frost hit. I am always in a rush so they end up dumped in baskets, boxes and paper bags. I store them in the unfinished part of my basement. They have little exposure to light, no water and little dirt. Despite the odds, I find it amazing that they sprout every spring.

Keep personal separate from business – Create a separate checking account, use a separate credit card, separate PayPal account, etc. By keeping it all in only one account it simplifies the recording and strengthens your position with the IRS. They may keep out of your personal stuff.

Earlier this year I was caught in a car chase. I was minding my own business, going home on a Friday night when I notice flashing lights about a block behind me.

Are you feeling lost! Or struggling with where you are at? We have many choices as to what path we take and in many areas of our life. We take a path when we choose a job or career, a business, a mate, to have children, our friends and hobbies. We can take a short path or the journey of a lifetime.

I have chosen to stop watching the news on TV. I skip thru the mudslinging on Facebook and when reading the newspaper I only read factual headlines. I can’t handle the anger anymore. It doesn’t add value to my life. To counter that I am being more conscious of being one with my heart.

As you are gathering last year’s financial information for taxes – it is a great time to review the results and make resolutions for the upcoming year. It doesn’t matter if you are focused on growth, profitability, or reorganizing the following checklist will provide options to consider.