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Mar. 2016

It All Add$ Up Bookkeeping and Tax Tips
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What's something every business owner wants to do?  If increase profit margins was on your list, then keep reading.  In our two articles below, we discuss how making a budget can help you make better decisions.  Read the full article for tips on how to get started with your budget. 

Next, we dig into the importance of quarterly reviews.  With April 1st around the corner, this timely article can help you understand the questions you should be asking yourself as you review your results for the past quarter.  Take the time to do this, and you just might be surprised that a shift in your operations might be in order to increase your profit margin.  

And last, our team has worked hard all through tax season. Please be advised that our office will be closed on April 19th. 

If you have any questions or would like to learn more or schedule a consultation, call us at 724-359-5022 or send us a note via our contact form. 
WHY CREATE A BUDGET FOR YOUR BUSINESS?
Profit Margin
Taking the time to create a budget can help increase your profit margin.

Does the thought of creating a budget for your small business make you cringe?
Many business owners feel that it is a difficult process to create a budget, but it is necessary to be able to make informed decisions and to steer your company onto a strong financial path.

Many companies use a product called Xero or QuickBooks to keep track of their financials. If this is a product that you use, making a budget may be a lot easier than you imagined! Check out these steps. 
QUARTERLY REVIEWS! 
Quarterly Review
Quarterly reviews can help you manage your business smarter.

As the first quarter wraps up for the 2016, it is time to go back and evaluate your results. Regular reviews allow you to adjust your growth strategy and shift resources where necessary. Questions like, "Do you like what you see?", or "Where did we fall short?" are questions to ask senior staff or business advisors as you begin your review process.

Many small businesses think of a quarterly review as a skim through of just looking at the overall numbers to see if they are making a profit. While that is important, it is just as important to dig deeper into those financials so that you don't miss out on opportunities to make the most out of the 2nd quarter. Perhaps margins on a given product line are higher than another. By regularly looking at the numbers, you might shift more marketing dollars and personnel resources to market the more profitable product.
TAX SEASON BREAK

The staff at Paxton Bookkeeping and Tax Services has been working hard throughout the tax season in providing both personal and business tax returns.  Please be advised that our office will be closed on April 19, 2016 following the April 18th deadline for this year's tax filing.
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