Happy Holidays! To help our readers manage their finances most effectively, we’re literally sharing a full year of information! That’s right, our gift to you this holiday season is a condensed, handy list of the most important tips we’ve shared this year.
- Make moves at the start of the year.
At the beginning of the year, I met with the Boris Benic and Associates team of financial experts to determine the best strategies for success and growth in our current environment. Top recommendations included: taking your business online, preparing for the unexpected, embracing eco-friendly business practices, and networking. - Use depreciation to your benefit.
Depreciating assets give you more income on your profit and loss statement and increase your assets on your balance sheet. The trick is determining which method for calculating and recording the depreciation on your taxes is best for you. - Plan your exit strategy.
Planning ahead is an integral part of running a business. Developing an exit strategy may seem like planning too many steps ahead, but it’s a best practice to plan your exit from the start. - Empower your CFO to make informed decisions.
Your CFO needs to have the most accurate and up-to-date financial data in order to keep tabs on the business, make big business decisions, and attract investors. The most effective way to do that is with innovative technology. A CFO armed with the right tools can streamline processes, make informed decisions, and lead your company to greater success. - Balance growth and profitability.
Which is more important? This is a challenging question, especially for new business owners. Both are necessary for the success and longevity of any business. You need profits for short-term survival and growth for long-term success.
We’re always available for you. At Boris Benic and Associates, we like to think your success is our success. That belief has kept us in business for almost 30 years. It’s also the reason we continuously reinvest in our company with quality staff, continuing education, and cutting-edge technology. Let us put our expertise to work for you in 2022.
We wish you all a joyous holiday season!