by Layne Bodily | Sep 1, 2022 | Business Planning, Business Resources, Financial Planning
This is part 3 of a short series discussing the basics of the income statement. See part 1 for a general overview, and part 2 for more info regarding revenue. In this post, we’ll be talking about costs of goods sold. In general, costs of goods sold are going to be...
by Team FBPCPA | Aug 5, 2022 | Business Planning, Financial Planning, Taxes
What is a 1099-K The 1099-K is an IRS information return used to report certain payment transactions to help the government track income. The form is generally filed by payment settlement entities (PSE) also referred to as third-party settlement organizations, i.e....
by Team FBPCPA | Jul 5, 2022 | Business Insights
Inflation is defined as a sustained increase in the general price level of goods and services in an economy. There are a number of ways to measure inflation, but the most common is the Consumer Price Index (CPI). The CPI is a measure of the average change in prices...
by Layne Bodily | Jun 28, 2022 | Business Planning, Business Resources, Financial Planning
This is part of a series by Layne Bodily, Partner at Fates, Bodily & Parker meant to help business owners understand their financial statements and how they can be used to make decisions and help grow your business. This is part 2 of a short series of posts...
by Layne Bodily | Jun 21, 2022 | Business Planning, Business Resources, Financial Planning
This is part of a series by Layne Bodily, Partner at Fates, Bodily & Parker meant to help business owners understand their financial statements and how they can be used to make decisions and help grow your business. We talk a lot about running a business by the...
by Layne Bodily | May 18, 2022 | Financial Planning
This is the first in a series of articles to help businesses better understand their financial statements and how they can be used to help you run your business, make better business decisions, and plan for growth. We talk a lot about running a business by the...
by Team FBPCPA | Feb 25, 2022 | Financial Planning, Personal Financial Insights, Taxes
What You Need to Know to File Your 2021 Taxes Correctly Child Tax Credits The IRS began distributing advances on taxpayers’ Child Tax Credits on July 15, 2021. If you chose to receive the advances it is important that you report these correctly on your 2021...
by Team FBPCPA | Jan 6, 2022 | Financial Planning, Personal Financial Insights, Taxes
As we begin another year of uncertainty, it is more important than ever to devise a budget, understand cash flow and build a tax plan. Everyone is familiar with tax preparation, the act of preparing your tax returns and filing them with local, state, and federal...
by Tyler Fates | Nov 12, 2021 | Financial Planning, Personal Financial Insights, Taxes
IRAs are Individual Retirement Arrangements. There are several types of IRAs with differing contribution limits and earnings thresholds. Funds for an IRA must come from employment earnings. More information about all IRAs and their regulations can be found on the IRS...
by Team FBPCPA | Oct 22, 2021 | Business Insights, Business Planning, Business Resources
Fractional CFO, Part-Time CFO, Virtual CFO: What They Are and When You Need One There are many terms bandied about when it comes to the position and outsourcing of a Chief Financial Officer (CFO). It is easiest to start understanding these terms by getting a firm...
