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THE SMART BUSINESS OWNER’S LIST OF TAX DEDUCTIONS

For a business owner, taxes can be overwhelming and cumbersome. Tax deductions allow you to save thousands of dollars each year on your taxes and make tax filing a much more bearable experience. In this post, we'll list some of the tax deductions you can use to...

The Smart Business Owner’s List Of Tax Credits

One of the best ways to cut costs as a business owner is to take advantage of all the tax deductions and tax credits for which you're eligible. As a business owner, you're concerned with the bottom line--increasing your net profits. That probably means you spend most...

PRESS RELEASE: Cassidy Jakovickas, CPA of Fresno, CA Appointed to Intuit’s Accountant Council

Select Panel Advises on Products and Services that Accountants and Their Clients Want Most             FRESNO, CALIFORNIA – June 4, 2019 –Today, Intuit, Inc (Nasdaq: INTU) announced that Cassidy...

Beyond The Numbers: What We’ve Been Reading

Although our team loves using numbers and spreadsheets to help our clients make the best financial decisions, we also enjoy reading great books. Staying well read on both fiction and non-fiction books helps us hone our imagination and introduces us to new, sometimes...

Looking Back At April

It’s hard to believe that we’re at the end of April, but it’s true! This month, we helped our clients wrap up another great (and busy) tax season. There was, as always, a lot of paperwork, emails, and nail-biting involved in the days preceding April 15, but that’s all...

5 Last-Minute Tips For Filing Taxes in 2019

Well, April 15 is almost here, and the tax-related panic is thick. If you haven’t filed your 2018 tax paperwork and are rushing to get your taxes in by the deadline, we’ve decided to give you some last-minute tax advice that will hopefully help ease your stress....

An Introduction To Cybersecurity for Business Owners

Keeping your sensitive business and customer data secure has never been more critical. Whether you are a small business or a national corporation, you can't relax your defenses against those criminals seeking to take advantage of lazy cybersecurity policies. Virtually...

March News Roundup

Wow! It seems like we just started March and we’re already moving into April! As we move into the final stretch of tax season, we’re recapping this month’s news for you, just in case you missed it amid the tax-related hubbub. MBS Accountancy: November Review This...

4 Key Changes To Depreciation Under The TCJA

As the Tax Cuts and Job Act (TCJA) continues to be unraveled by tax professionals, it’s important to review the changes and their implications on business operations and tax strategies. In this article, we’ll highlight TCJA’s changes to first-year bonus depreciation,...

3 Ways A CPA Can Make Your Business Successful

It can often seem unnecessary to hire a certified public accountant (CPA) since bookkeepers and accountants are frequently believed to be the be-all-end-all for a business’ finances. However, there are certain advantages to having a CPA by your side. While we...

MBS Accounting Advantage

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Looking at a page of numbers and not knowing what they mean can be discouraging and ultimately, costly. When you sit down with your accountant, you shouldn’t be just “going through the motions,” of listening, but fully engaged with what your accountant is telling you about the life of your business, and your life, too. It’s time for you to experience the Accounting Advantage program of MBS Accountancy in Fresno, California. Numbers mean something – specifically, the difference between a successful or failed business. Here are some examples where the MBS Accounting Advantage can make a difference in your business:

• Properly managing your receivables means maximizing your cash flow. The aging of your accounts receivables tells you a story, that, with proper analysis, identifies which customers are your best customers – large or small – and which are your problems, perhaps using you and your cash to finance their business by paying you late. Any money in their account instead of yours is not only costing you money, but it’s costing you opportunities, too, because you may not have the cash to take advantage of discounts from your suppliers or have to sweat out upcoming payroll days.

• If you’re not tracking your expenses, then you’re ignoring a huge part of your financial health, especially if your expenses are being paid for with a line of credit. Just like accounts receivable, accounts payable (expenses) tell you a story, too. Proper monitoring of your expenses tells you where and how your resources are being used, and whether or not there is an acceptable return on investment for your money spent. High expense does not always equal high income and high profit.

• Many companies do not know the true meaning of profit, but believe if they have money left over at the end of the year, they’re profitable. They don’t track depreciation, and it doesn’t occur to them if the owner of the company isn’t taking out a fair share of income, they are merely financing the company by their own sweat equity without reward. When a company is being prepared to be sold, how much money the owner takes out along the way makes a big difference; rarely does anyone want to buy a company which doesn’t throw off an annual profit by traditional
definition. The Accounting Advantage from MBS Accountancy is like having a professional accountant always standing beside you, helping guide you to success and profitability.

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