Financials as a Tool

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Financials as a Tool
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• Halloween is right around the corner, so well
  tell you a scary story.
• The story begins with your finances. Are you
  nervous yet?
• That word finance makes a lot of people squirm,
  and the story usually goes something like this A
  small business owner avoids digging into his
  financial reports all year. Then, tax season
  rolls around.
• The business owner schedules his annual meeting
  with his CPA and finally gets an accurate report.
  Only, by then, its too late for him to use his
  financials as a tool.

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• If he had reviewed his profit and loss statement
  in the middle of the summer, he might have
  noticed that sales were climbing. One of his
  channel partners had begun aggressively selling
  two specific products.
• By the time his CPA asked the questions that
  turned up these insights, the opportunity to
  capitalize on them (and mitigate any potential
  tax impact) had passed.
• Of course, if you are a business owner, you dont
  have to share a similar fate. You can use your
  financials as a tool. They can help you make more
  informed decisions.

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• Wait What are financials?
• When we talk about financials, were referring to
  the analytics of your business how much money
  youre making, how youre making it, where your
  business is losing money, your operating costs
  and other expenses, and so on.
• Your financials gather up and organize the data
  created by your business.
• Specifics vary from industry to industry, but the
  general methodology stays the same. And the value
  of financials certainly applies across the board.
  If youre not measuring and tracking certain
  numbers, how can you monitor the health of your
  business?

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• What do you do with financials?
• Financial files often just sit on a computer hard
  drive until tax season rolls around or a board or
  company officer asks for an annual report.
• But businesses thrive when the numbers get
  attention.
• Accurate, up-to-date, and relevant information
  helps you avoid pitfalls and seize good
  opportunities.
• When you have the right information at your
  fingertips, you can do the following

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• Properly analyze your business
• Identify your successes and failures
• Identify what needs to be done differently
• Know what youre doing correctly
• Improve your pricing strategies
• You can use data, not hunches, to make decisions
  about your business.

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• Obviously, decisions made with incomplete
  information still look a lot like hunches, so
  your goal is to have all the information and to
  derive the right conclusions from it.
• You may think your business is growing, but the
  numbers can give you definitive proof. Numbers
  speak louder than words.
• Who can help?
• In short, we can. Many of our clients only
  schedule one meeting a year.

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• At that point, the best we can do is clean up
  their books and do a little remedial work to make
  sure its a reasonable reflection of the past.
• Do you know what wed prefer to do instead?
• Meet at regular intervals throughout the year and
  serve as a true partner. Using current
  information allows you to make more timely
  decisions or changes when theres still something
  you can do about it!
• After all, Culpepper CPA does more than prepare
  taxes. We can handle everything from bookkeeping
  and payroll to taxes and business advising.

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• We tackle many forensic or investigative
  accounting cases, and beyond your books, we can
  make recommendations for experts we trust in
  other specializations, such as wealth management,
  law, insurance, and even marketing and business
  development.
• The more holistic our involvement, the more
  impact we have.
• If you keep us abreast of whats going on with
  your business, then we can make recommendations
  that will be game changers for you
• The best time to get a line of credit is when
  you dont need it.

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• Now that youve built up your cash reserves,
  have you considered adding to your sales team?
• Youll want to buy that piece of equipment
  before the end of the fiscal year to get the tax
  deduction.
• Besides, if you allow us to stay engaged, then
  preparing your taxes will be relatively fast and
  painless. And it wont involve any surprises!
  Youll know where you stand taxwise based on our
  work and planning throughout the year.
• Wed love to work alongside you, every step of
  the way, and help you make sense of all the
  numbers.

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• Give us a call at [phone], and lets
  discuss what youd like to see happen.
• Even scary stories involving finance can have a
  happy ending.
• Culpepper CPA in Knoxville TN is a full-service
  tax, accounting business advisory firm. We help
  our clients to make confident, tax-savvy
  decisions. Our CPAs began their careers in the
  fast-paced culture of global and national firms.
  We now believe in personalized advice and custom
  accounting solutions. If you are looking for
  Knoxville CPA or bookkeping services or payroll
  services or accounting firms in Knoxville TN,
  contact us today.