We’ve all had the experience in school of walking out of an exam feeling woefully under-prepared and thinking… “Well, that’s definitely not what I expected.” But when you are running a small business and you walk out of your accountant’s office saying the same thing about your taxes, there’s a problem. Your taxes should not…
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We are hitting pause on our regularly scheduled programming to do a post-tax-season pulse check. Do any (or all) of these statements describe how you are feeling now that tax season has ended? “How in the world am I going to make payroll this month, write the huge check I owe for taxes, AND pay…
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Some accounting jargon can be confusing. I am an accountant and most of the time I understand what someone is asking, but for a normal business owner it might as well be Latin or jibberish. Our job is to convert accounting-ease to plain English. You know so you can actually understand what we are trying…
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I learned a painful lesson the first three years after starting Patrick Accounting. My revenue was going up significantly; however, I made the same amount of money in my third year as I did in my first year. If you are like most business owners, part of the appeal of starting and running your own…
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Do you love profit? We do. And not in a shallow, superficial kind of way. We love profit because of what it means and what it can accomplish for business owners. 1. Profit is a reliable indicator of your business’ health. We all have different reasons for starting businesses. I started Patrick Accounting because I…
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Occasionally you find something that feels revolutionary. Something that changes your perspective and opens your eyes to new possibilities. Profit First proved to be one of those experiences for me. Accounting has been done a certain way for a very long time, the basis of such is a simple formula: sales – expenses = profit.…
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2018 has been an exciting year of learning, growth, and opportunities for Patrick Accounting and our clients. We have a lot to be grateful for and look forward to in 2019. Here are the posts that YOU told us were your favorites from 2018. We hope they help you review 2018 and prep for 2019.…
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What’s Christmas without your favorite holiday movies, moments, tasty treats, and of course…your favorite song? Our Patrick Accounting team recounts their favorites from the season. Click below to watch the fun! Merry Christmas and Happy New Year everyone!
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The most important consideration once you have decided to raise prices is ensuring you communicate with your customers so they are not surprised. Customers would more likely be upset by a lack of communication than by the price increase itself. Here are best practices for rolling out increased pricing: Let your customers know when you’re…
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Raising your prices can feel a lot like walking into a dark room as a child. Your mind conjures all sorts of scary things that could happen, but as soon as you turn on the light, you realize there’s nothing to fear. Most of the business owners we know dread the thought of raising prices,…
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