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An Accountant Studies The Business of Wine

Posted by on Mar 10, 2015 in Personal Freedom, Wine Business | 0 comments

An Accountant Studies The Business of Wine

An accountant who is fascinated by the business of wine. Isn’t that fascinating? Recently, I discovered the opportunity to gain a greater understanding of vineyards, wineries, and the wine business in general by studying for my Wine Business Management Certificate through Sonoma State University in California. This certificate was inspired by the Sonoma State University Wine Business MBA, and my reason for taking this course is an utter fascination with this entire market. I’m keen to learn more about it, and hopefully to work with those...

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Arranging Your Finances to Reduce Your Taxes

Posted by on Feb 16, 2015 in Accounting, Financial Freedom, Tax, Tax Planning | 0 comments

Arranging Your Finances to Reduce Your Taxes

Planning your tax year and arranging your finances may not sound like the most interesting thing you’ll do this year, but we are certain it will be much more interesting if by doing so you discover that you have less tax to pay. In an ideal world, every year you will have managed your financial affairs so that your taxes are minimized as much as possible. We realize that this can be incredibly difficult to do. It’s already February, so before you know it April will be upon us and there will be no more tax planning to do. If you can spare...

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Is your cash flowing IN more than it flows OUT?

Posted by on Jan 12, 2015 in Accounting, Bookkeeping, Financial Freedom | 0 comments

Is your cash flowing IN more than it flows OUT?

The cash within your business is often referred to as the lifeblood – that which enables your business to not only survive, but also prosper. Just as your body will survive for a time without food or water, but without blood it will die, the same applies to your business. It can survive for a short time without sales or profits, but if it doesn’t have cash it will die. As a business owner you have a rough idea in your head at all times about how much cash you have. You can check your bank balance – even on your phone – and either...

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Effective Financial Management for your Family-Owned Business

Posted by on Dec 19, 2014 in Family Business, Financial Freedom, Transition Planning | 0 comments

Effective Financial Management for your Family-Owned Business

Financial management is one of those phrases that can feel irrelevant to your small or family-owned business. What does it actually mean? Does it involve hiring a Chief Financial Officer or holding long board meetings? When we talk about financial management at Henry H Jones, CPA, what we’re helping you understand is far more than knowing what accounting records you should keep, or even the current status of your finances. Good financial management means that you have a clear and up-to-date view on how your business is performing in all the...

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You Don’t Know What You Don’t Know About Payroll

Posted by on Dec 3, 2014 in Payroll | 0 comments

There’s a phrase that pops up once in a while in the business world: “Pigs don’t know pigs stink.” While simultaneously funny and a little disgusting, the sentiment behind the phrase is incredibly serious and very real. We don’t know what we don’t know. Each of us has limited knowledge about different subjects, and beyond that, we’re completely unaware of what knowledge is beyond our own. We can’t even ask the right questions, because we don’t know what questions to ask! For most of life, that’s okay. You don’t need to...

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How to Hire Outside the Family for Your Family Business

Posted by on Nov 25, 2014 in Family Business | Comments Off on How to Hire Outside the Family for Your Family Business

It can be difficult to comprehend your beloved small business in the hands of someone outside the family. But consider some reasons it might be necessary to take that step: Death or illness Age gap between current leadership and willing-but-not-yet-ready second generation Fast growth in company, resulting in great need for additional staff Lack of expertise in a critical area The hiring process for any company – especially if it’s hiring a leader or upper management – can be complex and challenging. The same could be said for a...

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Tips for buying a business

Posted by on Sep 24, 2014 in Change, Tax Planning, Transition Planning | 0 comments

Buying a business can be a very exciting experience, full of hopes and ideas and goals and dreams.  It can also be a little overwhelming – scary even! There are so many aspects to consider, fears that crop up along the way, and thousands of decisions to make. Here are some of the things you should consider and do if you are going to buy a business: Have A Transition Leader (This is someone like us here at Henry Jones, CPA.) Your team leader will engage experts as needed such as attorneys, insurance agents, appraisers and bankers. These...

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Pros and cons of running a family business in a struggling economy

Posted by on Sep 4, 2014 in Family Business, Financial Freedom | 0 comments

“Coming together is a beginning; keeping together is progress; working together is success.”  Henry Ford In the midst of the doom and gloom of the current economy, family businesses have taken off, whether fueled by desperation or a dream.  And the struggle against the economy, to make a living for a family with a family, can be a difficult one. Perhaps it seems foolish to expound on pros and cons of running a family business in a struggling economy, since if you’re in one it is likely you will stay with it; and if you are not, it...

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Are You a Pack Rat or a Laissez-Faire Filer, and What Can You Do About It?

Posted by on Jun 26, 2014 in Bookkeeping | 0 comments

How many times have you gone to pay a bill, only to discover that you missed an early payment discount option?  Or needed paperwork to give to your accountant or banker, and even though you know for a fact it passed your hands recently, you can’t find it to save your life? The sad truth is that many of us don’t have our paperwork in order.  Some of us don’t keep a single receipt, while others of us keep every single scrap of paper we come across. If you’ve ever been looking through your files only to realize that your financial...

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How to Start Your Family Business Council

Posted by on Jun 19, 2014 in Family Business | 0 comments

Last week we talked about some reasons that your family business might need a Family Business Council.  This week we’ve put together some information about how to get your Family Business Council up and running!  Using these tools, combined with a little expertise from our firm, you will be in tip top shape in no time. First, let’s just summarize a few facts about Family Business Councils: A council is advisory.  It isn’t in place to drive business or create policy.  It exists to give family members the opportunity they need...

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