Family businesses face unique challenges, from compliance to employee management. In one case, AGCPAs partnered with a franchise operating 21 locations under three S-Corporations. Each entity managed payroll, taxes, and compliance for over 70 employees.
Blog
How AGCPAs Uses a Profit-First Approach to Help Business Owners Reach Financial Goals
At AGCPAs, we believe profit should come first—not just as a concept but as a disciplined practice. That’s why we guide business owners to set up a separate “profit” account and regularly report on its balance. This isn’t just about numbers; it’s about accountability and making profit a priority in decision-making.
Mastering Cash Flow Management in a Customer-Driven Industry
Cash flow management is the lifeblood of any business, but for those in customer-driven industries like healthcare services, it takes on even greater importance. Balancing the need to meet day-to-day operational costs while delivering exceptional care to clients can be a daunting task. Whether your business is growing rapidly or facing unexpected challenges, mastering cash flow management is essential to ensuring stability and long-term success.
Business Success: Dramatic Lessons from a Tax Resolution
A farming operation once approached AGCPAs in crisis. The IRS was aggressively pursuing the owners with visits and an onslaught of notices. Once we were granted Power of Attorney, our team reviewed 11 years of financial records.
Within weeks, we uncovered an embezzlement scheme involving falsified vendor accounts and misappropriated payroll tax payments. While it was heartbreaking to learn a family member was responsible, our work helped the company recover.
Navigating the Challenges of Being a First-Time CFO in a Rapidly Growing Business
Taking on the role of CFO in a fast-growing business is an exciting, yet daunting, opportunity. It’s particularly challenging when you’re new to the financial leadership role, like many first-time CFOs who may come from backgrounds in investment advising or other non-accounting disciplines. This role requires not just number-crunching but also strategic thinking, compliance expertise, and a steady hand in steering the financial ship. If you’ve ever felt “in over your head,” you’re not alone—and there are ways to tackle these challenges head-on.
Can the IRS Waive an FBAR Penalty?
The IRS has a reputation for strict enforcement, but there are circumstances where it shows leniency. One such instance involves waiving penalties related to the Report of Foreign Bank and Financial Accounts (FBAR). This waiver often comes in the form of an FBAR Warning Letter (Letter 3800), signaling a significant break for taxpayers who failed to report foreign accounts but are found to have acted without willful neglect.
Empowering Veteran-Owned Businesses: Latest Government Financing Opportunities and Resources
Veteran-owned small businesses are vital contributors to the U.S. economy, bringing leadership and dedication honed through military service. Recognizing their unique challenges, the government has introduced several financing programs to support these entrepreneurs. This article explores the latest initiatives and resources available to veteran-owned small businesses.
Enhanced SBA Loan Programs