Pilot Management Group

05/19/2025

PROFIT ≠ CASH

I’ve had a lot of conversations like this lately: “If I made a profit… why does my bank account say otherwise?”

The short answer?
Profit and cash are not the same thing.

You might be showing a profit on your P&L, but that number doesn’t reflect:
• Unpaid invoices
• Equipment or software you bought outright
• Loan payments
• Money you’ve pulled out of the business to pay yourself

If this has ever happened to you, you’re not alone, and you’re not doing anything wrong. But you deserve a clear picture of what’s actually happening in your business.

I wrote about this here: www.pilotmg.com/blog/profit-vs-cash-flow

Let me know if it resonates. I’d love to hear your thoughts.

05/04/2025

Your tax return holds more insight than most people realize.

Now that tax season is winding down, I’ve been thinking about how many business owners never really get a chance to read their returns, beyond asking whether they owe or are getting a refund.

But a return is more than just a form; it’s a financial story. And sometimes that story isn’t complete.

I’ve seen so many situations this year where expenses didn’t make it into the books—because someone used a personal card, didn’t get a receipt, or thought the purchase was too small to bother with.

But those small things add up. Every penny tells part of the story.

If your numbers didn’t feel quite right this year or you want to better understand how your tax return relates to your actual business performance, I’d love to help.

11/08/2024

🌟 Exciting News for Small Business Owners! 🌟

We’re thrilled to announce a new partnership that allows us to provide free accounting and financial services to qualifying business owners in Detroit, Highland Park, Hamtramck, and Inkster!

Through this collaboration, Pilot Management Group (PMG) is here to help you:
• Streamline your finances with QuickBooks subscriptions, setup, and training
• Growth strategy consulting
• Tax preparation and planning
• Fractional CFO/COO services

To qualify for these free services, businesses must meet certain eligibility requirements. If you think you might qualify or know someone who could benefit, reach out to us for more information!

Contact us today to see if your business qualifies.

Contact us. How can we help?Contact us to schedule a consultation. Our dedicated team is ready to provide the guidance and expertise you need. Name * First Name Last Name Email * Phone ( # # #) # # # # # # # Services Needed * Message * Thank you! Email:[email protected]:313-782-3676Address:1420 Washin...

11/04/2023

We spent a lot of time over the last two years determining whether businesses qualified for the Employee Retention Credit. There was a lot of false information constantly thrown at business owners by scammers. For those who applied for the credit, please double-check that your business qualified. The IRS is allowing businesses to withdraw inaccurate claims for the credit.

IR-2023-193, Oct. 19, 2023 — As part of a larger effort to protect small businesses and organizations from scams, the IRS today announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy.

08/25/2021

Have you filed your 2020 taxes yet? The extension/e-filing deadline is swiftly approaching…..😬

03/26/2019

A great visual representation of how tax brackets work.

There is a common misunderstanding about how tax brackets work in the US, and it’s causing us to have uninformed debates about taxes. Become a member of the ...

06/29/2018

https://www.cbsnews.com/news/postcard-size-the-irs-new-1040-tax-return-form-is-smaller-but-no-less-complicated/

A draft of the new Form 1040 eliminates 78 lines by moving popular deductions off the form -- and onto worksheets

02/11/2018

Yesterday the Honoring Hometown Heroes Act was signed into law. The bill revived tax deductions that had previously expired, including the mortgage insurance and tuition expense deduction.

Congress has reinstated individual tax breaks that didn’t make it into the December tax overhaul, meaning tax savings for your 2017 tax return.

02/04/2016

IRS temporarily shuts down e-filing system

http://www.usatoday.com/story/money/business/2016/02/03/irs-computer-problems/79792890/

Some systems will be out of service at least until Thursday, the agency said.

11/07/2015

Have you received a call recently from someone claiming to be from the IRS, demanding a payment or threatening to sue you? Please be advised this is a scam used to commit identity fraud. The IRS will only contact you in writing via US mail. They DO NOT call people, in fact, they really don't want you calling them.

http://www.consumer.ftc.gov/blog/irs-calling

Here at the FTC, we think about scams all day long. What are the scammers’ new angles? How can we keep ahead of them? We hear from people about the scams they see, and we turn that into tips people use to spot and avoid scams.

04/29/2015

Since tax season is officially over, I'm working on putting together an accounting package specifically for childcare centers that requires minimal work by the staff, includes everything from automated billing to payroll (tax filings included) and is affordable. I'd love to meet with some owners to inquire about what their needs are to see if I'm on the right track with what I've come up with so far. Does anyone know any childcare owners that would be willing to speak with me for 15-20 mins to answer some questions?