On this edition of ProfitSense with Bill McDermott, Jonathan Strack and Eric Cooley from Strack, Inc., and Chris Smith, CB Smith & Associates, joined us for a discussion on building their respective businesses and adapting to the digital age. Jonathan and Eric talked about cultivating a company culture, getting outside their comfort zone to recruit talent and…
On this episode of ProfitSense, host Bill McDermott welcomed Vivian Dempsey, Partner at Wilson Lewis, and Scott Williford, CEO of vLink Solutions. Vivian talked about Georgia’s personal income tax rebate, the advantages and disadvantages of an S Corp, the IRS tax inflation adjustments for the tax year 2023, and much more. Scott discussed his experience in…
Every business owner dreams of selling their business one day for a lot of money then retiring with a home on the beach or traveling the world. However, when it comes to actually selling the business, many business owners don’t follow a unified strategy, leaving them confused and frustrated because they realize running a business…
Every business owner has a big dream to sell their business one day and see it continue on successfully. But, when that day comes, we realize that we know how to run a business, but we don’t know how to exit a business. This thought leaves us frustrated, confused, and sometimes overwhelmed. Exiting a business…
Wrapping up our series on your most googled financial questions, we saved a big one for last: taxes. A word that strikes fear in the hearts and minds of many business owners. But, it doesn’t have to. Every business owner has a big dream for their business and wants to make it happen. However, many…
When I started my company in April 2009, I didn’t know much about business formation or the tax implications. Thank goodness I had a good friend and CPA who sat me down and told me everything I needed to know. If you’re starting a business, a CPA you know and trust is one person that should…
I have several clients that either work in or support the construction industry. This is one industry that has taken off post-Covid and there doesn’t seem to be any slowdown in sight. More revenue means more taxes and several of these clients are looking at their taxable income and how they might be able to…
As a business owner, we sometimes don’t know what we should be paying attention to in our financials. It becomes even more frustrating when our accounting is not tracked properly and we’re not sure whether the decisions we’re making are helping or hurting. One of the biggest weaknesses in a growing business is accounting. Accounting is…
Two things have become increasingly apparent to me. If you’re a big company, you have good access to capital and can find the funding needed to finance your business. Small companies don’t have that access to capital and finding funding is difficult. Here’s why:
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