Stephanie Crow, Author at Payne Nickles & Company - Ohio Accounting Firm, Business CPAs & Advisors

Forecasting Techniques to Drive Business Growth: Simple Steps for Success

As a small business owner, looking ahead and planning for the future can feel overwhelming, especially when there are so many day-to-day challenges. But with the right forecasting tools, predicting what’s next for your business doesn’t have to be complicated. Forecasting can help you plan for growth, manage expenses, and make smarter decisions based on …

Planning for retirement is a crucial aspect of managing a small business. Unlike traditional employees who may have access to employer-sponsored benefits, business owners must proactively manage their retirement savings. This involves navigating fluctuating incomes and variable cash flows while balancing the demands of running a business. Tax-deferred retirement plans offer a valuable solution, providing …

Navigating a financial audit can be daunting, but with the right preparation and understanding, it can become a manageable and beneficial process. Financial audits help ensure the accuracy of your financial records and compliance with regulations and can reveal areas for improvement within your business operations. Understanding the Audit Process A financial audit is a …

The construction industry has seen significant technological advancements and substantial financial benefits. Key technologies such as project management software, Building Information Modeling (BIM), and other digital tools enhance efficiency and drive cost savings. Here’s a detailed look at how these innovations transform the financial landscape of construction project management. Project Management Software: Streamlining Operations …

In the construction industry, managing financial risk is crucial for ensuring project success and maintaining profitability. Financial risks can arise from various sources, including contract disputes, unforeseen expenses, and cash flow issues. This article will explore strategies for managing financial risk from a CPA’s perspective, helping construction business owners mitigate potential pitfalls and enhance their …

Sandusky, Ohio – July 8, 2024 – Payne Nickles & Company CPAs and Business Advisors is proud to announce the promotion of Brennan Otto, CPA, to Partner in Training in recognition of his dedication, hard work, and contributions to the firm. Brennan Otto’s journey with Payne Nickles & Company began as an intern during the …

In the construction industry, where innovation and efficiency are key to success, the Research and Development (R&D) tax credit is a powerful yet underutilized tool for small to medium-sized construction companies. Often perceived as the domain of tech giants and manufacturing behemoths, the R&D tax credit holds significant potential for the construction industry, offering financial …

Written by: Abbey Bemis, MBA The most common reason businesses report failing is their cash flow management (SCORE). At Payne Nickles we know cash flow is not just a driver of business failure, but instead a huge part of company success when properly managed, driving a company’s operational efficiency and strategic growth. Effective accounts receivable …

Written by Jeffrey J. Rosengarten, CPA, CFE Navigating the realm of capital gains and optimizing tax outcomes require strategic thinking and informed decision-making. Understanding and employing effective capital gains tax strategies is crucial for businesses contemplating asset sales or long-term investments. However, it’s important to note that every business situation is unique, and leveraging the …

For many business owners, taxes often represent a hurdle to clear rather than a strategic asset to leverage. However, those who look beyond mere compliance can unlock the transformative power of tax planning as a key driver for sustainable business growth. Rather than viewing tax as a static annual obligation, repositioning it as a dynamic …