National Financial Literacy Month is Celebrated in April! National Financial Literacy Month is an opportunity to spread the word about financial education and increase awareness of how finances affect our lives. Lack of knowledge can lead to poor decision-making and behaviors that may limit the possibilities for a household to reach its financial goals. In [...]
You may have heard that cash flow management is one of the most important aspects of building a healthy business. The fact is, 82% of businesses fail because of poor cash flow management. The first step to addressing cash flow issues is to cut expenses. This can be done by prioritizing expenses and finding [...]
If you're wondering what is an S-Corporation, this article will help you answer that question. As the name suggests, it's a pass-through entity that offers pass-through taxation and limited liability protection. However, this entity type can only be created by businesses with fewer than one hundred shareholders. This article will also help you choose the [...]
Who Qualifies? In October 2021, Missouri’s statewide fuel tax increased from 17 cents per gallon to 19.5 cents per gallon. Around that time, the Missouri DOR announced Missourians might be eligible for refunds of the 2.5 cents tax increase per gallon paid on gas purchases after Oct. 1, 2021. According to Missouri Department of Revenue (DOR), [...]
Why Measure Overhead? One of the most important KPIs for small medical practices, home health agencies, and dentists are their overhead costs. This is because overhead can be the silent and slow killer of any business. Whether you're a general practice dentist or specialize in orthodontics, overheads are a big part of the cost of [...]
In the world of healthcare, KPI's are crucial to the long-term success of any medical practice. While revenue is an obvious choice, other important factors, such as patient attrition, are just as important. The best way to choose which metrics are most meaningful to you is to first perform an assessment of your practice's current [...]
Did you know...only around 40% of small businesses have a CFO or controller. However, it is estimated that a CFO can guide and assist a small business owner to 2X to 10X their business revenues and profitability! When you own a small business, you’re often familiar with the idea of hiring an [...]
There are many ways to start the new financial year strong, and many business owners fail to take advantage of this mindset. Many businesses roll into the next financial period without doing much introspection, which leads to a cycle of making the same mistakes again. By carefully planning and managing business processes, these businesses can [...]
Small business accounting can get complicated and overwhelming for a small business owner. Let TSAT take those tasks off your plate so you can focus on what you do best! As the year draws to a close, small business owners should review and revise their end-of-year small business accounting plans. Reviewing the past [...]
Quality is not an act, it’s a habit. Managing the accountancy, bookkeeping, and financial aspects of a small business can be a challenge but it is not impossible if you are well prepared to implement effective quality control small business accounting practices. Your efforts will pay off when your organization runs efficiently and at minimal [...]
