Understanding Sunk Costs in Business Decisions

Posted by Jack Craven CPA on Tue , Oct 29 , 2019

One of the most difficult business decisions is to walk away from the money that you have already spent. These losses are called "sunk" costs. This can be extremely frustrating, but the only efficient way to move forward is by focusing on future costs rather than dwelling on past losses.

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Topics: Profitability, Sunken Costs

Six Tips to Increase your Business's Cash Flow and Profitability

Posted by Jack Craven CPA on Wed , Oct 16 , 2019

Managing and running a business, whether it is small or large, is tough. Although each business is unique in its own way, here are six ideas to help your business increase its profitability and cash flow.

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Topics: Media Industry, Profitability, Cash Flow

Did Meredith Make a Huge Mistake Acquiring Time Inc.?

Posted by Jack Craven CPA and Abby Leadbetter on Wed , Sep 25 , 2019

 

Last year, Meredith Corporation acquired Time Inc., the publisher of People, Time, Fortune, and many other magazines. The purchase price was $2.8 billion. The expectation was that this acquisition would bring substantial profits to Meredith. This has not been the case.

 

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7 Easy Steps to Help Prevent Google Calendar Spam.

Posted by Abby Leadbetter on Wed , Aug 28 , 2019

Have you recently received an email invitation from Google Calendar saying that "You won a free iPhone"? This is a new form of spam e-mail that Google Account users have been recently receiving in the form of a Google Calendar invite. Naturally, most people panic and report the email as spam. Most people will do this to make sure they do not accidentally click on a link and put all of their personal information at risk. This works at first because it removes all of the unwanted events that had previously appeared in their calendars. What a lot of people don’t know is that this is only a temporary solution so if you are just frustrated in the moment with these spam invites, this is the quick fix.

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Cashing in on Cryptocurrency? The IRS wants in.

Posted by Jack Craven CPA and Abby Leadbetter on Thu , Aug 22 , 2019

Cryptocurrency investing is both “cool’ and "hot.". It is a type of digital asset that is traded online. There have been wide fluctuations in value, and this means it is an attractive investment for traders and other investors. But did you know that a transaction with cryptocurrency (Bitcoin for example) may result in a taxable income? Let’s say you purchased 10,000 units of Bitcoin for $20,000. If the Bitcoin appreciates and you purchase a $40,000 yacht with 5,000 units of Bitcoin you would have a taxable income of $30,000.

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QBI The New Business Deduction

Posted by Jack Craven CPA on Thu , Nov 29 , 2018

We get more calls regarding the new Qualified Business Income (“QBI”) deduction than any other aspects of the new tax law. Simply put, the QBI deduction is 20% of your “qualified business income.” The rules, however, are not simple, they are quite complicated. If you qualify the benefit is substantial.

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The IRS Loves Your Business ... and That is NOT Good

Posted by Jack Craven on Wed , Oct 31 , 2018

The IRS continues to focus their audit activities in key small business areas. The wise business owner is well advised to be able to defend the following five areas to keep the IRS at a comfortable distance:

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Checklist for a Healthy Cash Flow

Posted by Jack Craven CPA on Tue , Nov 29 , 2016

Any business owner who has fended off calls from unpaid creditors or who has wondered how to meet the next payroll knows the importance of cash flow. Ironically, business success and cash shortages often go together. If growing sales are on credit, they create a larger accounts receivable which your company is funding. Your income statement may show a hefty profit, but profit doesn't pay the bills - cash does! That's why understanding and controlling the cash flow in your business is so important.

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Jack Craven Speaks at GNYCC Business EXPO

Posted by Jack Craven CPA on Tue , Sep 20 , 2016

 John F. Craven CPA will be moderating a panel on Small Business Success Strategies at the Greater NY Chamber of Commerce Business EXPO that begins at 10:30am on September 23rd. Panelists include:

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AdMedia Survey Forecasts Positive M&A Outlook

Posted by Jack Craven CPA on Thu , Aug 04 , 2016

AdMedia Partners, a leading media M&A advisor, performs an annual survey of senior executives. This year’s survey shows an expected deal increase for mergers and acquisitions in the media and technology industry. The following key points highlight AdMedia’s findings.

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