RCN CPAs & Business Advisors
Learning center

Plain-English money advice for business owners

Guides, tips, and explainers to help you make smarter financial decisions, written by people who do this every day.

Advisory

If Your Financials Were a Scoreboard, Would You Be Winning or Losing in 2026?

RCN CPAs
Advisory

If Your Financials Were a Scoreboard, Would You Be Winning or Losing in 2026?

Maximize the success of your medical practice by focusing on essential KPIs that drive performance and growth.

5 min readRead article
Tax

7 year-end tax moves most small businesses miss

RCN CPAs
Tax

7 year-end tax moves most small businesses miss

The deadline-week scramble costs owners thousands. Here is what to handle before December 31 to keep more of what you earn.

5 min readRead article
Advisory

9 Problems Medical Practices Miss When They Skip Mid-Year Reviews

RCN CPAs
Advisory

9 Problems Medical Practices Miss When They Skip Mid-Year Reviews

You’re halfway through the year now, and for the first time in months, you slow down long enough to really look at the numbers. At first, everything seems fine. Money is still coming in. The schedule is packed. Patients are booking weeks ahead. From the outside, your practice looks busy,…

8 min readRead article
Bookkeeping

Cash vs. accrual: which one should your business use?

RCN CPAs
Bookkeeping

Cash vs. accrual: which one should your business use?

The method you choose changes your taxes, your loans, and how clearly you see your business. A plain-English breakdown.

4 min readRead article
Advisory

The 5 numbers every owner should know every month

RCN CPAs
Advisory

The 5 numbers every owner should know every month

You do not need an accounting degree to run a healthy business. Just these five numbers and a partner who tracks them with you.

4 min readRead article
AI & Technology

Should I use AI for my bookkeeping and accounting?

RCN CPAs
AI & Technology

Should I use AI for my bookkeeping and accounting?

AI can make accounting faster and more accurate, but it should not run your books unsupervised. Here is an honest look at where AI helps, where it falls short, and how to use it safely.

5 min readRead article
Tax

The Financial Mistake High Earners Make Every Year Without Knowing It

RCN CPAs
Tax

The Financial Mistake High Earners Make Every Year Without Knowing It

What would your practice look like today if access to capital weren’t the constraint? Let’s be honest, tax season is exhausting. The back-and-forth with your accountant, the receipt-hunting, the late nights double-checking numbers while your waiting room fills up the next morning. You do all of…

5 min readRead article
Advisory

The Action Stage of Business: How Medical Practice Owners Can Lead, Scale, and Take Back Control

RCN CPAs
Advisory

The Action Stage of Business: How Medical Practice Owners Can Lead, Scale, and Take Back Control

Discover what the action stage of business means for medical practice owners and how shifting your leadership approach can help you increase profitability.

7 min readRead article
Advisory

What It Really Takes to Scale a Medical Practice and Why Most Owners Get It Wrong

RCN CPAs
Advisory

What It Really Takes to Scale a Medical Practice and Why Most Owners Get It Wrong

What if the very thing you believe will grow your medical practice is actually what’s putting pressure on it? And more importantly, what does it actually take to grow your practice without creating more stress and costly mistakes along the way? Most medical practice owners want growth. That’s…

5 min readRead article
Tax

The Hidden Metric That Matters More Than Your Top-Line Revenue

RCN CPAs
Tax

The Hidden Metric That Matters More Than Your Top-Line Revenue

Stop focusing on revenue alone. Learn how tracking your operating margin can boost profitability, improve financial clarity, and strengthen your medical practice.

6 min readRead article
Advisory

5 Costly Mistakes Medical Practice Owners Need to Stop Making

RCN CPAs
Advisory

5 Costly Mistakes Medical Practice Owners Need to Stop Making

Still running your medical practice the old way? These 5 common mistakes could be costing you time, money, and patients. Find out what to do instead.

4 min readRead article
Tax

Tax-Free Employee Holiday Gift Guide

RCN CPAs
Tax

Tax-Free Employee Holiday Gift Guide

Find out how to give meaningful tax-free employee holiday gifts while navigating IRS regulations for your medical practice.

4 min readRead article
Tax

What Your Medical Practice Needs: Top Financial-Planning Tips for the New Year

RCN CPAs
Tax

What Your Medical Practice Needs: Top Financial-Planning Tips for the New Year

Get ready for the new year with practical financial planning tips that can safeguard your practice and boost your financial health.

6 min readRead article
Advisory

The Benefits of Forming an LLC: A Practical Guide for Medical Practice Owners

RCN CPAs
Advisory

The Benefits of Forming an LLC: A Practical Guide for Medical Practice Owners

Maximize the success of your medical practice with an LLC structure. Secure personal finances while streamlining management options.

5 min readRead article
Advisory

5 Key Leadership Lessons for Smarter Growth and Decisions

RCN CPAs
Advisory

5 Key Leadership Lessons for Smarter Growth and Decisions

Reflect on your leadership journey and discover key lessons learned in 2025 for effective medical practice management.

4 min readRead article
Advisory

The Leadership Shifts Every Practice Owner Needs

RCN CPAs
Advisory

The Leadership Shifts Every Practice Owner Needs

Reflect on your leadership journey this year. Discover how leadership influences team dynamics and financial health.

4 min readRead article
Tax

How Medical Practice Owners Can Turn Charitable Giving into a Smart Tax Strategy

RCN CPAs
Tax

How Medical Practice Owners Can Turn Charitable Giving into a Smart Tax Strategy

If you’re a medical practice owner, you’re used to making high-stakes decisions that balance compassion with precision. But one area where many physicians and clinic owners leave value on the table is strategic charitable giving — particularly through Qualified Charitable Distributions (QCDs).…

6 min readRead article
Tax

Key Business Milestones Every Medical Practice Owner Should Plan For

RCN CPAs
Tax

Key Business Milestones Every Medical Practice Owner Should Plan For

Explore the significance of business milestones and their tax implications for sustained growth and financial success.

6 min readRead article
Tax

Tax Planning Strategies to Tackle Before Year-End

RCN CPAs
Tax

Tax Planning Strategies to Tackle Before Year-End

Maximize your financial outcome with smart tax planning strategies before year-end. Keep more of what you earn.

4 min readRead article
Advisory

Profit vs. Cash Flow: The Financial Disconnect Holding Your Practice Back

RCN CPAs
Advisory

Profit vs. Cash Flow: The Financial Disconnect Holding Your Practice Back

Understand the key differences between profit vs. cash flow. Learn how they impact your medical practice's financial health.

4 min readRead article
Bookkeeping

Is Your Accounting System Slowing Down Your Growth?

RCN CPAs
Bookkeeping

Is Your Accounting System Slowing Down Your Growth?

Struggling with financial reports? It may be time to evaluate your accounting systems for better accuracy and efficiency.

4 min readRead article
Tax

The Hidden Costs of Only Talking to Your Accountant at Tax Time

RCN CPAs
Tax

The Hidden Costs of Only Talking to Your Accountant at Tax Time

Discover why having an accountant year-round can save you money and provide peace of mind beyond tax season.

4 min readRead article
Advisory

How Lack of Financial Visibility Puts Your Business at Risk

RCN CPAs
Advisory

How Lack of Financial Visibility Puts Your Business at Risk

Learn how financial visibility can transform your business by eliminating surprise expenses and guiding better decision-making.

4 min readRead article
AI & Technology

Turning Clicks Into Patients: Why Your Website Matters More Than Ever in 2025

RCN CPAs
AI & Technology

Turning Clicks Into Patients: Why Your Website Matters More Than Ever in 2025

Improve your practice's online presence with medical practice website optimization to drive patient inquiries and growth.

4 min readRead article
Tax

What Small Business Owners Need to Know About Cost Segregation and Depreciation

RCN CPAs
Tax

What Small Business Owners Need to Know About Cost Segregation and Depreciation

Discover how cost segregation can save small business owners thousands on taxes by writing off property faster and smarter.

4 min readRead article
Bookkeeping

What Should I Expect from My Accountant?

RCN CPAs
Bookkeeping

What Should I Expect from My Accountant?

Discover what small business owners and practice owners should expect from their accountant—from cash flow guidance to tax compliance and growth advice.

4 min readRead article
Advisory

How to Keep Your Team Focused and Executing Effectively

RCN CPAs
Advisory

How to Keep Your Team Focused and Executing Effectively

Discover practical strategies to keep your projects on track—from clear communication and project management tools to celebrating milestones and commending team effort.

4 min readRead article
Advisory

How Small Businesses Can Beat Supply Chain Disruptions

RCN CPAs
Advisory

How Small Businesses Can Beat Supply Chain Disruptions

Fortify your SMB against supply chain issues. Here are 7 practical strategies to help you prepare, adapt, and stay ahead — even when things go sideways.

3 min readRead article
Advisory

How to Motivate Your Team to Hit This Year’s Goals

RCN CPAs
Advisory

How to Motivate Your Team to Hit This Year’s Goals

Is your team losing momentum? Discover actionable strategies to reassess goals, boost motivation, and reignite your team's drive for success.

7 min readRead article
Advisory

Cultivating a Thriving Financial Mindset for Lasting Happiness

RCN CPAs
Advisory

Cultivating a Thriving Financial Mindset for Lasting Happiness

As a business owner, you’ve probably spent countless hours strategizing about growth, reducing expenses, or hitting your next revenue goal. But have you ever paused to think about your financial mindset? Cultivating a healthy financial mindset isn’t just a luxury or what you do with your money,…

3 min readRead article
Advisory

Financial Spring Cleaning: 7 Tips to Improve Cash Flow and Cut Costs

RCN CPAs
Advisory

Financial Spring Cleaning: 7 Tips to Improve Cash Flow and Cut Costs

Think of it like tidying up your workspace: a bit of effort now can lead to significantly more clarity, control, and breathing room later.

6 min readRead article
Tax

Smart Tax Strategies to Improve Cash Flow and Reduce Business Stress

RCN CPAs
Tax

Smart Tax Strategies to Improve Cash Flow and Reduce Business Stress

No matter how good your product or service is, financial missteps—especially around tax season—can undo your hard work.

3 min readRead article
Tax

Redefine Your Tax & Financial Strategy

RCN CPAs
Tax

Redefine Your Tax & Financial Strategy

You live online. You optimize everything. Your financial approach should be no different.

3 min readRead article
Tax

How to Avoid Tax Underpayment Penalties with Smart Estimated Tax Planning

RCN CPAs
Tax

How to Avoid Tax Underpayment Penalties with Smart Estimated Tax Planning

If you have a sinking feeling that your tax prepayments are insufficient, the time to act is now. Delaying until December significantly limits your options for rectifying the situation.

4 min readRead article
Tax

What Small Business Owners Need to Know About Tariffs

RCN CPAs
Tax

What Small Business Owners Need to Know About Tariffs

Tariffs are no longer just a concern for big corporations. They are a key factor in your competitiveness, pricing decisions, and overall strategy.

4 min readRead article
Advisory

7 Ways to Foster Collaborative Leadership in Financial Planning

RCN CPAs
Advisory

7 Ways to Foster Collaborative Leadership in Financial Planning

Strong leadership has to be balanced with open collaboration in financial planning with intentionality.

3 min readRead article
Tax

Essential Tax Strategies Every Business Owner Should Know

RCN CPAs
Tax

Essential Tax Strategies Every Business Owner Should Know

Tax season can either be a seamless process or a stressful rush, depending on how well you plan throughout the year. While managing your own accounts might give you a sense of control, juggling multiple business operations can make it easy to overlook deadlines and tax-saving opportunities. A…

3 min readRead article
Tax

How Does Your Business Give Back?

RCN CPAs
Tax

How Does Your Business Give Back?

When you think about success, what comes to mind first? Is it revenue growth and profit margins, or your impact on the world? Today, success isn’t just about financial performance—it’s about creating meaningful change. More businesses are embracing social responsibility, and customers are paying…

3 min readRead article
Advisory

7 Leadership Qualities That Most Significantly Impact Financial Success

RCN CPAs
Advisory

7 Leadership Qualities That Most Significantly Impact Financial Success

Leadership plays an important role in steering an organization toward financial success.

3 min readRead article
Tax

3 Simple Hacks to Lower Your Tax Bill

RCN CPAs
Tax

3 Simple Hacks to Lower Your Tax Bill

Taxes can be overwhelming, requiring meticulous record-keeping, complex forms, and potentially large payments. However, effective tax strategies can simplify the process and maximize your savings.

2 min readRead article
Tax

The Holiday Season and Your Business: A Tax Perspective

RCN CPAs
Tax

The Holiday Season and Your Business: A Tax Perspective

Understanding the tax implications of holiday activities—like bonuses, parties, and gifts—can help you make the most of the season for your business and your employees.

2 min readRead article
Advisory

5 Steps to Setting Business Goals That Align with Your 2025 Vision

RCN CPAs
Advisory

5 Steps to Setting Business Goals That Align with Your 2025 Vision

Now is the perfect time to prepare for a successful year by setting clear and actionable goals.

2 min readRead article
Tax

Understanding BOI Compliance: 7 Things Business Owners need to Know

RCN CPAs
Tax

Understanding BOI Compliance: 7 Things Business Owners need to Know

Beneficial Ownership Information, refers to the identifying individuals who own or control a business.

4 min readRead article
Advisory

Think Long-Term Success: A Gold-Medalist Mindset for Entrepreneurs

RCN CPAs
Advisory

Think Long-Term Success: A Gold-Medalist Mindset for Entrepreneurs

Entrepreneurs who adopt the gold-medalist mindset of an Olympian, remaining committed to their long-term goals despite setbacks, are more likely to achieve lasting success. With a clear focus on the long-term, the rewards—like the Olympic gold—are well worth the wait.

3 min readRead article
Advisory

Strategies for Scaling Your Business Without Sacrificing Profitability

RCN CPAs
Advisory

Strategies for Scaling Your Business Without Sacrificing Profitability

Scaling a business is a strategic move that requires careful planning, execution, and monitoring. With the right approach, scaling can open up new opportunities.

3 min readRead article
Tax

What are the Tax Implications of Hiring Independent Contractors for My Service Business?

RCN CPAs
Tax

What are the Tax Implications of Hiring Independent Contractors for My Service Business?

Deciding whether to hire independent contractors or employees is a significant decision that affects your service business’s tax obligations and financial health.

3 min readRead article
Bookkeeping

What Types of Records Should You Keep for Your Business?

RCN CPAs
Bookkeeping

What Types of Records Should You Keep for Your Business?

Amidst the hustle of managing the day-to-day operations and ensuring that your customers are satisfied, record-keeping shouldn't be an afterthought.

3 min readRead article
Tax

Benefits of Outsourcing Accounting Services

RCN CPAs
Tax

Benefits of Outsourcing Accounting Services

As your businesses expand, the demands of accounting become increasingly overwhelming.  This is when you need a partner who will help you with your accounting services.

2 min readRead article
Tax

5 Key Metrics for Measuring Financial Health

RCN CPAs
Tax

5 Key Metrics for Measuring Financial Health

Are you truly on track for long-term viability?Financial metrics are the quantifiable indicators that act as a health check for your business.

2 min readRead article
Tax

Key Deductions and Credits for First-Time Tax Filers

RCN CPAs
Tax

Key Deductions and Credits for First-Time Tax Filers

Grasping the array of deductions and credits at your disposal can substantially lessen your tax burden and optimize your potential refund.

2 min readRead article
Tax

Tasks Small Business Owners Should Automate for Efficient Operations

RCN CPAs
Tax

Tasks Small Business Owners Should Automate for Efficient Operations

Automation is not just a time-saving tactic; it's a strategic move that can propel your small business toward success. By automating repetitive tasks across various business functions, you can redirect your time and energy toward innovation, strategy, and customer satisfaction.

3 min readRead article
Tax

Top Reasons to File Your 2023 Tax Returns Early

RCN CPAs
Tax

Top Reasons to File Your 2023 Tax Returns Early

Filing your tax returns early is more than a mere administrative task – it's a strategic move that can positively impact your financial well-being. From faster refunds to avoiding last-minute chaos, the benefits are substantial.

3 min readRead article
Tax

Importance of Yearly Budgeting for Small Businesses

RCN CPAs
Tax

Importance of Yearly Budgeting for Small Businesses

Yearly budgets stand as more than just numbers on a spreadsheet; they are strategic roadmaps that guide small business owners through the intricate terrain of financial management.

2 min readRead article
Tax

How to Protect Your Financial Data: A Guide for Small Business Owners

RCN CPAs
Tax

How to Protect Your Financial Data: A Guide for Small Business Owners

Technology offers many benefits, but it also presents a significant challenge: you should therefore protect your financial data from potential threats.

3 min readRead article
Tax

8 Ways to Reduce Your Business Costs

RCN CPAs
Tax

8 Ways to Reduce Your Business Costs

Running a successful business isn't just about increasing revenue; it's also about managing costs effectively. Reducing business costs is a crucial aspect of improving profitability.

2 min readRead article
Tax

Small Business Tax Audit Triggers: What You Need to Know

RCN CPAs
Tax

Small Business Tax Audit Triggers: What You Need to Know

Key factors that might catch the attention of tax authorities and provide guidance on how to reduce your audit risk.

3 min readRead article
Tax

Why Networking Is Important for Small Business Owners

RCN CPAs
Tax

Why Networking Is Important for Small Business Owners

Networking is essential for small businesses in today's connected world. Building and maintaining a strong network can open doors to new opportunities.

3 min readRead article
Tax

Do Small Businesses Need Insurance?

RCN CPAs
Tax

Do Small Businesses Need Insurance?

Insurance offers a reassuring layer of financial security, acting like a shield. It empowers you to rebound from unexpected occurrences and concentrate on your core activities without the persistent concern of potential setbacks.

4 min readRead article
Advisory

5 Personal Finance Best Practices for Growth-focused Business Owners

RCN CPAs
Advisory

5 Personal Finance Best Practices for Growth-focused Business Owners

A financially stable business owner is better equipped to navigate the challenges and opportunities that come with entrepreneurial success.

3 min readRead article
Tax

6 Benefits of Using a Virtual Bookkeeping Service for Your Business

RCN CPAs
Tax

6 Benefits of Using a Virtual Bookkeeping Service for Your Business

Virtual bookkeeping services are a new way to do accounting that offers many benefits to businesses.

2 min readRead article
Tax

7 Reasons Why You Need a Tax Strategy

RCN CPAs
Tax

7 Reasons Why You Need a Tax Strategy

It is essential for both individuals and businesses to possess a carefully crafted tax strategy, this can have a substantial impact on your financial situation.

3 min readRead article
Tax

10 Benefits of Conducting a Financial Analysis for Your Small Business

RCN CPAs
Tax

10 Benefits of Conducting a Financial Analysis for Your Small Business

Financial analysis provides insights into the financial aspects of your business, helping you make informed decisions and steer your business toward success.

3 min readRead article
Tax

Understanding the Differences Between State and Federal Tax Requirements for Small Businesses

RCN CPAs
Tax

Understanding the Differences Between State and Federal Tax Requirements for Small Businesses

Operating a small business can be both rewarding and challenging, especially when it comes to navigating the complex world of taxes. Tax requirements are a crucial aspect of business operations, and understanding the differences between state and federal tax obligations is essential for small…

3 min readRead article
Tax

Understanding the tax implications of different business structures

RCN CPAs
Tax

Understanding the tax implications of different business structures

When it comes to establishing and running a business, choosing the right business structure can significantly impact your tax liability. The tax implications associated with various business structures can be complex, but with the right knowledge, you can make informed decisions that optimize…

3 min readRead article
Advisory

Top 10 Tips for Managing Cash Flow for Small Businesses

RCN CPAs
Advisory

Top 10 Tips for Managing Cash Flow for Small Businesses

Cash flow management involves monitoring cash inflow and outflow to ensure enough liquidity to cover expenses and meet financial obligations. Without enough cash flow, a business can’t pay its bills, make payroll, or invest in growth. In order for a business to survive and gain financial…

2 min readRead article
Tax

How to Keep Track of Your Business Expenses

RCN CPAs
Tax

How to Keep Track of Your Business Expenses

The success of your business goes beyond offering a great product or service; it requires you to be on top of every aspect of your business, especially your finances. As a business owner, you might be responsible for managing your bookkeeping. Maintaining accurate records can assist you in…

2 min readRead article
Tax

7 Common Accounting Mistakes that Small Businesses Make

RCN CPAs
Tax

7 Common Accounting Mistakes that Small Businesses Make

As an accounting firm, we see a lot of common accounting mistakes that small business owners make, especially when they are starting their operations. We do understand that accounting can be challenging and as a business owner you might lack the right knowledge or take care of multiple…

3 min readRead article
Tax

The Impact of Bad Debt on Your Finances

RCN CPAs
Tax

The Impact of Bad Debt on Your Finances

Small business owners face several challenges while handling the operations of their businesses. These include inconsistent cash flow, poor budgeting, not being tax compliant, and not paying bills on time. Bad debt can therefore significantly affect the business’s financial stability.  We will…

3 min readRead article
Tax

Which corporate entity is best suited for my real estate investments to save on taxes

RCN CPAs
Tax

Which corporate entity is best suited for my real estate investments to save on taxes

As a real estate investor, you know that selecting the right corporate entity is essential to minimize tax liabilities and protect your assets. However, it can be challenging to determine which business structure is best for your investment.

2 min readRead article
Tax

5 Major Differences Between Bookkeeping and Accounting

RCN CPAs
Tax

5 Major Differences Between Bookkeeping and Accounting

Understanding the differences between bookkeeping and accounting is important for anyone looking to improve their business's financial health.

4 min readRead article
Tax

Doing Your Own Taxes? Here are 5 Tips to consider.

RCN CPAs
Tax

Doing Your Own Taxes? Here are 5 Tips to consider.

Tips you should consider if you're doing your return yourself. 1. Use a Tax Software 2. Use a Tax Organizer 3. Be up-to date with recent laws

5 min readRead article
Tax

Discover the 4 Reasons Your Bank Account is Empty Even with an IRS Tax Bill

RCN CPAs
Tax

Discover the 4 Reasons Your Bank Account is Empty Even with an IRS Tax Bill

Reasons why your bank account is empty even with an irs tax bill may include: 1. Paying down debt 2. Taking draws from the business ...

4 min readRead article
Tax

3 Ways to know you have outgrown doing your bookkeeping yourself or engaging only a bookkeeper

RCN CPAs
Tax

3 Ways to know you have outgrown doing your bookkeeping yourself or engaging only a bookkeeper

three ways you would know if you've outgrown doing your bookkeeping yourself or engaging only a bookkeeper

2 min readRead article
Bookkeeping

The Simple and Effective Way to Organize Your Business Finances: The 90-Day Financial Plan

RCN CPAs
Bookkeeping

The Simple and Effective Way to Organize Your Business Finances: The 90-Day Financial Plan

A 90-day plan increases the value that you can bring to your business and explores practical strategies to guide success. It breaks your year down into quarters so you can develop a foundation that helps you meet your objectives.

2 min readRead article
Tax

Difference Between Deliberate and Impulsive Spending

RCN CPAs
Tax

Difference Between Deliberate and Impulsive Spending

Your printer has run out of paper. Do you immediately order another ream because you can afford one? Or do you review your operations expenses and plan to purchase? Urgent needs that appear affordable to the company often lead to impulse spending. This is spending without a clear advance plan…

2 min readRead article
Bookkeeping

How to Identify Fraud in Your Company Finances

RCN CPAs
Bookkeeping

How to Identify Fraud in Your Company Finances

Financial fraud is the act of misrepresentation that could lead to a business loss. There are five main types of financial fraud: corruption, asset misuse, online fraud, financial statement fraud, and external fraud.

2 min readRead article
Bookkeeping

Why you should care about cash-based accounting and accrual-based accounting

RCN CPAs
Bookkeeping

Why you should care about cash-based accounting and accrual-based accounting

The bigger your business becomes, the more complex your accounting system will be as well.

2 min readRead article
Tax

What is Zero-Based Budgeting and How Can I Use It?

RCN CPAs
Tax

What is Zero-Based Budgeting and How Can I Use It?

Zero-based budgeting considers market uncertainty, fluctuating costs, inflation, and global instability. Read this insightful blog and discover more about zero-based budgeting and how you can use it.

2 min readRead article
Tax

Four Benefits of Hiring a Business Consultant

RCN CPAs
Tax

Four Benefits of Hiring a Business Consultant

Business owners often feel the weight of responsibility and take up most business roles as they seek to achieve growth.

2 min readRead article
Tax

Three Financial Modeling Mistakes You Should Avoid

RCN CPAs
Tax

Three Financial Modeling Mistakes You Should Avoid

Are you using MS Excel to track and manage your finances? You probably begun the management of your business finances using MS Excel spreadsheets to determine income, expenses, and profits. As your business grows, it becomes necessary to probe the numbers deeper, using financial information to…

2 min readRead article
Advisory

How to Prepare a Financial Budget

RCN CPAs
Advisory

How to Prepare a Financial Budget

The smallest expenses are often the one’s that have the biggest impact on your business success. There is no amount spend, or made within your business that is too small for you to account for. That is why you should prepare a financial budget.

2 min readRead article
Tax

3  Must-Read Books for Entrepreneurs and Business Owners

RCN CPAs
Tax

3  Must-Read Books for Entrepreneurs and Business Owners

The first quarter of the year is over, and I hope you are well settled into 2022. Now is the time to refocus on your big goals. The books I am recommending for you this quarter are bound to inspire you and keep you on track. I have chosen a mix of titles, one well-known […]

2 min readRead article
Tax

Why it matters for small businesses to pay taxes.

RCN CPAs
Tax

Why it matters for small businesses to pay taxes.

Positivity and taxes are two words you do not expect to find in the same sentence. Well, taxes can be positive for your small business. Your small business is more than an avenue for you to grow professionally and increase your net worth. It also enables economic growth and provided resources…

2 min readRead article
Tax

How much should I pay myself as a business owner?

RCN CPAs
Tax

How much should I pay myself as a business owner?

Are you reinvesting all your profits into your business as it grows? Have you made a decent earning from your business? Do you prefer a salary or an owner’s draw?

2 min readRead article
Tax

How to Create Financial Projections for your Business

RCN CPAs
Tax

How to Create Financial Projections for your Business

Any small business owner understands the importance of financial projections to guide their business strategy.

2 min readRead article
Tax

Importance of Revenue Diversification

RCN CPAs
Tax

Importance of Revenue Diversification

Increasing your revenue streams mitigates risk and will help you survive and thrive in the long run.

2 min readRead article
Tax

3 Tax Reduction Strategies for Small Businesses

RCN CPAs
Tax

3 Tax Reduction Strategies for Small Businesses

3 Tax reduction strategies to explore.

2 min readRead article
Advisory

5 Benefits of Working with a Business Advisor

RCN CPAs
Advisory

5 Benefits of Working with a Business Advisor

A business advisor is a strategic thinker, with experience and understanding of different facets of a business.

2 min readRead article
Tax

Tax Deductions Every Small Business Owners should be aware of.

RCN CPAs
Tax

Tax Deductions Every Small Business Owners should be aware of.

To bring down your taxable income, here are three approaches you can use.

2 min readRead article
Tax

3 Ways to Prevent Past-Due Invoices

RCN CPAs
Tax

3 Ways to Prevent Past-Due Invoices

Past-due invoices can wreak havoc on your cash flow. Find out how to prevent them with the right credit terms to ensure you receive your payments on time.

2 min readRead article
Tax

3 Best Books every Small Business Owner should read this Quarter

RCN CPAs
Tax

3 Best Books every Small Business Owner should read this Quarter

Wondering which books to read this quarter? Well, here is a recommendation of the 3 best books to start on.

2 min readRead article
Advisory

How to Prepare a Budget for your Business

RCN CPAs
Advisory

How to Prepare a Budget for your Business

Here are five steps you can follow for your 2022 budget preparation.

2 min readRead article
Tax

2022 Q1 Tax deadlines: Mark your calendars

RCN CPAs
Tax

2022 Q1 Tax deadlines: Mark your calendars

Mark your calendar with these 2021 Q1 Tax Deadlines.

2 min readRead article
Tax

4 Finance Planning Tips for Small Businesses in 2022

RCN CPAs
Tax

4 Finance Planning Tips for Small Businesses in 2022

These financial planning tips can help you set your business for greater financial success.

2 min readRead article
Tax

Take a break at the end of the year to reflect on your business

RCN CPAs
Tax

Take a break at the end of the year to reflect on your business

There is so much to be grateful for in 2021, take a look back and reflect over your accomplishments

2 min readRead article
Tax

4 Ways to maximize retirement savings plans before the end of the year

RCN CPAs
Tax

4 Ways to maximize retirement savings plans before the end of the year

Find out how you can make the most of your retirement savings plan before the end of the year.

2 min readRead article
Tax

Quick Facts About Health Saving Accounts

RCN CPAs
Tax

Quick Facts About Health Saving Accounts

Discover the 4 benefits of the Health Savings Account and access quality healthcare of your choosing in the future.

2 min readRead article
Tax

How Employee Retention Credit Works

RCN CPAs
Tax

How Employee Retention Credit Works

Small businesses that have struggled to keep going through the pandemic may be eligible for employee retention credit (ERC) as a form of tax relief. Find out about Employee Retention Credit and how to make a claim as a small business owner, before 31st December 2021

2 min readRead article
Tax

Two Reasons Small Business Owners should be Thankful in 2021

RCN CPAs
Tax

Two Reasons Small Business Owners should be Thankful in 2021

The COVID-19 pandemic has exposed the financial fragility of many small businesses. In the early months of the pandemic, survival was vital – especially with the uncertainty surrounding the end of the pandemic. Lockdowns, travel restrictions, social distancing, and curfews were measures put in…

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Tax

Year-End Tax Planning Checklist for Small Business Owners

RCN CPAs
Tax

Year-End Tax Planning Checklist for Small Business Owners

Year-end Tax Planning Checklist for Small Business Owners: Seven actions to take Now: 1. Review your current tax projections 2. Claim employee retention credit 3. Contribute to a health savings account ...

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Bookkeeping

5 Reasons why your business should outsource payroll Services

RCN CPAs
Bookkeeping

5 Reasons why your business should outsource payroll Services

Payroll is a time-consuming task that many small business owners struggle with. It can be an additional burden when new laws are constantly being created and updated. Wouldn’t you rather spend your working hours testing different marketing strategies to help you grow your company further? How…

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Tax

5 Tips for Financial Wellness with EIDL: Get Low-Interest Rates

RCN CPAs
Tax

5 Tips for Financial Wellness with EIDL: Get Low-Interest Rates

Whether you're looking at a new loan or seeking to refinance, here's what you need to know about the benefits of the Economic Injury Disaster Loan (EIDL) for your medical practice.

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Tax

How to Capitalize on Small Business Profits

RCN CPAs
Tax

How to Capitalize on Small Business Profits

As a small business owner, it may be admirable to say that you went into business to pursue a dream, make a difference, or even help others

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Tax

5 Practical Questions You Need to Ask for Virtual Accounting Services

RCN CPAs
Tax

5 Practical Questions You Need to Ask for Virtual Accounting Services

Small business owners find it impractical to hire an entire team of staff. Hiring a virtual firm is the perfect solution for specialized tasks like accounting and bookkeeping.

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Tax

What is the difference between tax deductions and tax credits?

RCN CPAs
Tax

What is the difference between tax deductions and tax credits?

Tax deductions and tax credits have one thing in common. They offer you a benefit. It is essential to differentiate between the two so that you ensure you do not overpay your taxes.

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Advisory

How the Right Accounting Practices Can Drive Business Growth

RCN CPAs
Advisory

How the Right Accounting Practices Can Drive Business Growth

Each year, progressive business owners take steps to elevate their businesses. This requires strategy, as well as sound decision-making using comprehensive information. The most essential information needed is financial information, which reveals profits, losses, expenses, investments, and more.…

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Tax

3 Steps to Help Your Switch to Virtual Accounting and Bookkeeping

RCN CPAs
Tax

3 Steps to Help Your Switch to Virtual Accounting and Bookkeeping

Virtual accounting and bookkeeping are the future for many small businesses.

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Advisory

Four Financial KPIs that Drive Business Growth

RCN CPAs
Advisory

Four Financial KPIs that Drive Business Growth

siness owner, there are different ways that you may measure financial performance. When your expenses are lower at the beginning of your business and clients fewer,

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Advisory

How much attention should you pay to a budget variance?

RCN CPAs
Advisory

How much attention should you pay to a budget variance?

A small business owner should take the initial step with financial management to put a budget in place. A budget outlines the plan for managing expenses in the business.

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Tax

Seven Accounting Terms that Every Small Business Owner Should Know

RCN CPAs
Tax

Seven Accounting Terms that Every Small Business Owner Should Know

As a small business owner, you probably feel like a jack of all trades when you start your venture. You are in every department – whether it is marketing, finance, human resources, or IT. This means that you know a little bit about everything, but not enough to be proficient in every area.

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Tax

What Type of Bank Account Should You Have as a Small Business?

RCN CPAs
Tax

What Type of Bank Account Should You Have as a Small Business?

For many small business owners, the line between business and personal finance is blurry. At the start of the business venture, savings and other forms of personal finance may drive financial operations for the business.

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Tax

Why Small Business Owners Are Choosing to Outsource Accounting Services

RCN CPAs
Tax

Why Small Business Owners Are Choosing to Outsource Accounting Services

July marks the beginning of the third quarter of the year. It is also when small business owners sense check operations to determine if they are on track to meet annual goals.

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Tax

Three Reasons Why Your Small Business Needs a New Accountant

RCN CPAs
Tax

Three Reasons Why Your Small Business Needs a New Accountant

Small business owners are astute when hiring staff. Ideally, staff who generate revenue are worth hiring as they bring in money for their wages. Non- revenue-generating staff like finance professionals may not rank high on the list of priorities for a small business owner.

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Tax

3 Reasons Why Tax Planning will help you meet your Business Goals

RCN CPAs
Tax

3 Reasons Why Tax Planning will help you meet your Business Goals

Finally! You have completed the mammoth task of putting your taxes in order and filing for the year before the deadline. Or perhaps you are finally ready to meet that much needed extension. This allows a massive sigh of relief and a sense of freedom. Most likely, all you want to do is move on […]

2 min readRead article

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