Cash Flow – DougFreemanCPA.com

A cost segregation study may cut taxes and boost cash flow

Cash Flow, Cost Segregation Study, Depreciation, Depreciation Deduction (Section 179), Federal Taxes, Small Business, Small Business Tips, Tax Cuts and Job Acts (TCJA) / Douglas Freeman

Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. Depreciation basics. Business buildings generally have a 39-year depreciation period […]

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Strong billing processes are critical to healthy cash flow

Billing and Collections, Cash Flow, Small Business / Douglas Freeman

Once a business is up and running, one fundamental aspect of operations that’s easy to take for granted is billing. Often, a system of various processes is put in place and leadership might consider occasional billing mistakes to be part of the “cost of doing business.” However, to keep your company financially fit, it’s imperative

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3 ways your business can uncover cost cuts

Business Technology, Cash Flow, Outsourcing, Small Business, Technology / Douglas Freeman

Every business wants to find them, but they sure don’t make it easy. We’re talking about cost cuts: clear and substantial ways to lower expenses, thereby strengthening cash flow and giving you a better shot at strong profitability. Obvious places to slash costs — such as wages, benefits, and overhead — often aren’t a viable

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Like every business, a start-up needs a sensible budget

Budgeting, Business Start Ups, Cash Flow, Small Business / Douglas Freeman

An impressive 432,834 new business applications for tax identification numbers were submitted during October 2022, according to the U.S. Census Bureau. Indeed, despite the relatively higher costs of doing business these days, plenty of start-ups are still launching. One thing that every new company needs, along with a business plan, is a sensible budget. And

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Manageable growth should be a strategic planning focus

Cash Flow, Debt-to-equity Ratio, Small Business, Strategic Business Planning / Douglas Freeman

When a company’s leadership engages in strategic planning, growing the business is typically at the top of the agenda. This is as it should be — ambition is part and parcel of being a successful business owner. What’s more, in many industries, failing to grow could leave the company at the mercy of competitors. However,

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Weathering the storm of rising inflation

Business Mileage, Cash Flow, Inflation, Internal Revenue Service (IRS), Recession, Small Business, Tax, Tax Deduction, Tax Savings / Douglas Freeman

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possible but not an absolute certainty. And the impact of inflation

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Checking in on your accounts payable processes

Accounts Payable, Business Technology, Cash Flow, Inventory Management, Small Business / Douglas Freeman

Accounts payable is a critical area of concern for every business. However, as a back-office function, it doesn’t always get the attention it deserves. Once in place, accounts payable processes tend to get taken for granted. Following are some tips and best practices for improving your company’s approach. Be strategic. Too often, businesses take a

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Tighten up billing and collections to mitigate economic uncertainties

Accounts Receivable, Billing and Collections, Cash Flow, Small Business, Small Business Owners / Douglas Freeman

While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of 2022. Rising inflation is on everyone’s mind. And global supply chain issues persist, spurred on by events such as the COVID-19 lockdowns in China and

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4 ways to refine your cash flow forecasting

Accounting, Budgeting, Cash Flow, Inventory Management, Small Business / Douglas Freeman

Run a business for any length of time and the importance of cash flow becomes abundantly clear. When payroll is due, bills are piling up and funds aren’t available, blood pressure tends to rise. For this reason, being able to accurately forecast cash flow is critical. Here are four ways to refine your approach. 1.

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