Financial Freedom

“To Be, or Not To Be” – (The Great Entity Question)

Posted by on Jan 12, 2018 in Accounting, Financial Freedom | 0 comments

“To Be, or Not To Be” – (The Great Entity Question)

Which entity should you choose for your business? Corporation                    Yes             No               Maybe Partnership                     Yes             No               Maybe LLC                                   Yes             No               Maybe All of the above              Yes             No               Maybe If you are a business owner looking for the answer to this entity question, read on. This question often comes up while working with business owners who are...

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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 even an hour or two, we would encourage you to talk with us now about arranging your finances so that your taxes are not the great...

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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 breathe a sigh of relief or groan internally at the numbers reflected there. Cash is your indicator that the business is healthy. Or is...

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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 critical areas. This is not something that is left to your bookkeeper, or even to your accountant! It’s your responsibility as...

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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 is unlikely you will start one up … but stranger things have happened. We’d like to encourage you with some pros and cons...

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Take Your Family Business to the Next Level – Financial

Posted by on Dec 18, 2013 in Family Business, Financial Freedom, Freedom | Comments Off on Take Your Family Business to the Next Level – Financial

Take Your Family Business to the Next Level – Financial

As a new year approaches my thoughts often turn to how I can take my family business to the next level. Financial issues come to mind as we work on our business and family budgets for the new year. I’m sure that many of you do the same. I don’t know if it’s the turning of the calendar or the fact that, here in the northern hemisphere, the days will soon be getting longer that inspires us to reconsider our goals for the future and look back on where we’ve been. So what do we need to look at in determining where we’ve been and, more importantly, where we are right now? Your family business is likely your largest asset and your primary source...

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