Nique The CFO

Nique The CFO Outsourced CFO Elevating Financial Impact, Empowering Positive Change

05/04/2025

Every business should have a reserve fund. This is for like repairs, unexpected expenses, emergencies, huge purchases, salaries, etc. you should have atleast 90 days of operational expenses in there to cover salaries, office expenses etc in case of an economic crisis or anything honestly.

Some may say “well that’s a lot of money, I can’t do that” My thing is how do you know? A lot of you aren’t getting your financials handled properly like you should, no bookkeeping for starters and that should be a nonnegotiable for your business.

Stop looking at bookkeeping or any financial management as an expense and look at it as an investment. You save so much money by knowing what’s going on with just bookkeeping but imagine having a strategic partner such as a CFO by your side who can help you make the rightt financial decisions. Oooooweeee 🔥🔥

01/01/2025

Upcoming Important Deadlines for 2025

January 15, 2025: Q4 2024 estimated tax payments

January 31, 2025: Deadline to distribute W-2s to employees and 1099NEC forms to contractors. Deadline to distribute 1099-DIV & 1099-INT, 1099-MISC, 1099-K, 1099-R.

February 15, 2025: Deadline to distribute 1099-B

February 28, 2025: Deadline to file paper versions of 1099s and W-2s with the IRS.

March 17, 2025: Deadline to file Form 1065 (partnerships) and Form 1120-S (S-corporations) or request an extension.

March 31, 2025: Deadline to file electronic versions of 1099s and W-2s with the IRS.

April 15, 2025: Filing deadline for individual income tax returns (or file for an extension). Q1 2025 estimated tax payment due. Deadline to file Form 1120 or request an extension for calendar-year corporations.

May 15, 2025: Deadline to file Form 990 for calendar-year exempt organizations or request an extension. (If fiscal year ends 12/31)

The sudden closure of Bench, a widely used platform for small businesses, highlights the important need for businesses t...
12/27/2024

The sudden closure of Bench, a widely used platform for small businesses, highlights the important need for businesses to prioritize data backups and strong internal controls.

Relying solely on one platform can leave you vulnerable to service closures or disruptions. Regularly backing up your financial and operational data ensures you’re always in control, even if a service shuts down.

Having internal systems and processes in place allows you to pivot quickly in the face of unexpected changes. This includes having a transition plan for critical tools and services.

While technology is a game-changer, businesses should periodically assess vendor reliability and prepare for alternatives to maintain uninterrupted service.

As a tech-driven financial services provider, we’ve seen how proactive planning ensures peace of mind. If you’re unsure about the strength of your internal controls, let’s have a conversation about safeguarding your business for the long term.

12/10/2024

One of my nonprofit clients received a grant that could transform its impact. The excitement was palpable, but behind the scenes, their financial records were chaotic. Donations were tracked in spreadsheets, expenses were paid without documentation, and nobody monitored how funds were being allocated.

When the grantor requested an audit, panic set in. Missing receipts, misclassified expenses, and unbalanced books left the organization scrambling. They realized that without proper internal controls, they couldn’t account for how they used the grant money or assure funders they could manage future resources responsibly.

The audit revealed the cracks that they had no clear processes for approvals, inconsistent record-keeping, and a lack of oversight on spending. It wasn’t malicious, just a busy team trying to do too much without systems in place.

The wake-up call led them to implement controls by separating duties for checks and balances, formalizing approval processes, and using technology to track every dollar. It was a tough journey, but they emerged more confident and trusted by funders, ensuring their mission could thrive.

The lesson? No matter your size, internal controls are non-negotiable because they’re the foundation of trust and sustainability.

I talk about this all the time and this is what we do for our clients.

11/29/2024

Many of us are diving into deals, grabbing the latest tech, clothes, and gifts for loved ones (and ourselves 😆). Then comes , where online shopping carts will be loaded with amazing discounts.

But in the midst of this spending spree, let’s not forget about , a global day dedicated to generosity and supporting causes that make a difference.

Here’s why Giving Tuesday matters and how charitable contributions can benefit not just the world around you, but also your financial health.

Your donations can support nonprofits, community programs, and organizations working to create positive change. Whether it’s feeding families, funding education, or supporting a cause close to your heart, your contribution matters.

Charitable donations made by December 31st may be tax-deductible, reducing your taxable income and potentially lowering your tax liability. (Make sure the organization is a qualified 501(c)(3) to claim the deduction.)

Giving doesn’t just help others, it also boosts your sense of purpose and connection during the holidays.

If you’re planning end-of-year donations, here are a few tips:

• Keep receipts or confirmations from nonprofits to support your tax filing.

•Consider Donating Stock or Assets: Gifting appreciated assets, like stock, can help you avoid capital gains taxes while still supporting your favorite charity.

•You can typically deduct up to 60% of your adjusted gross income (AGI) in cash donations to qualified charities.

This holiday season, let’s aim for balance. Shop smartly on Black Friday and Cyber Monday, but don’t forget to give generously on Giving Tuesday. Your kindness can have a lasting impact and might even bring some financial benefits come tax season.

Happy Holidays! Let’s shop, save, and give back together.

08/06/2024

The best investment you can make is in yourself

08/04/2024

Financials are probably the hardest topic to discuss. Some people are embarrassed by their financial situation. Some people are scared to know the truth about their financial situation. Some people don’t understand the importance of knowing their real financial situation.

I seen a post on instagram about offset owning the IRS more than $1.6 million dollars because he probably doesn’t have an accountant like most self employed people.

We think because we get all our money upfront we’re not responsible for paying taxes still. Some of us believe we only file if we get a refund. This is not true at all. We are supposed to file and it’s best to file quarterly to avoid penalty.

If you own a business or is self employed please get with an accountant like myself to avoid situations like offset.

05/16/2024

When considering hiring, whether it’s a contractor or an employee, it's important to look at the average salaries for that position in your area. Keep in mind that this is just a small step in the hiring process. Many people complain about the prices others charge, but often wouldn't work for those rates themselves. Make sure your offer is fair and competitive.

05/01/2024

Welcome to May, everyone! ✨ A fresh month means fresh opportunities to grow and thrive!

Here are a few tips to make it a month of impactful progress and new beginnings.

1. Take a moment to review your annual objectives and adjust your strategies to stay on track.

2. Use tools like the Eisenhower Box to manage your tasks effectively.

3. Remember, teamwork makes the dream work. Delegate tasks where possible to focus on high-impact activities.

What big goals are you tackling this month?

Today, we remember and celebrate the extraordinary life and enduring legacy of Dr. Martin Luther King Jr. His unwavering...
01/15/2024

Today, we remember and celebrate the extraordinary life and enduring legacy of Dr. Martin Luther King Jr.

His unwavering commitment to justice, equality, and peace continues to inspire us all.

What is your favorite Martin Luther King quote?

01/06/2024

Join us for Dollars & "Sense": Financial Strategies for Churches & Nonprofits

📆 Save the Date: January 18th, 2024
🕒 5:15 PM PDT / 8:15 PM EDT

💰Are you ready to empower your organization's financial future? This insightful webinar will delve into practical and administrative steps to strengthen your church or nonprofit's financial practices in 2024 and beyond!

Co-led by expert CFO Nique The CFO of CFO & Associates, this live-streamed event promises valuable insights, real-world strategies, and a roadmap to financial success.

Don't miss out on this opportunity to enhance your financial stewardship.

👥 Tag and share with your community, fellow leaders, and anyone passionate about strengthening financial foundations for churches and nonprofits.

Address

1445 Woodmont Lane NW
Atlanta, GA
30318

Opening Hours

Monday 11am - 8pm
Tuesday 11am - 8pm
Wednesday 11am - 8pm
Thursday 11am - 8pm
Friday 11am - 8pm
Saturday 11am - 8pm
Sunday 11am - 8pm

Telephone

+14709052441

Website

http://calendly.com/cfoandassociates

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