Michael Doherty, CPA

01/16/2025

Do you use your vehicle for your business? The IRS bumped up the mileage rate for 2025 to 70 cents per mile – up a whopping 3 cents from last year.

If you really want to take advantage of the mileage deduction, good record-keeping is a MUST. Don’t leave money on the table because of messy logs or missed miles.

We can help take the hassle out of tracking – just give us a holler.

01/15/2025

You’ve (hopefully) set goals for your business for 2025. But how do you know if those goals are actually profitable?

Setting the right strategic goals has to start with the books. You need data on hand like:
😄 Feedback from customers (and employees)
💸Financial and sales reports
📈Research on market trends and your top competitors

But here’s the catch: None of this works if you don't have accurate, detailed records to rely on.

Need help getting organized? Just comment “📚” below.

01/14/2025

KPI Setting in 2025 for Boosting Your Jersey City Business

Do you have business goals for 2025? A clear KPI plan can help keep you on track to achieve them.

01/14/2025

Getting dizzy from all the recent BOI reporting changes? Here’s a quick recap (and what you need to focus on NOW):

On December 3rd, the original BOI reporting deadline – January 1, 2025 – was called off (thanks to the U.S. District Court for the Eastern District of Texas). The government appealed this decision, but the court upheld it. Not long after, the court reversed THAT decision – setting a new deadline of January 13th.

THEN, on December 27th, the reporting requirements were called off again. Got BOI whiplash by now?

So, the current status is: You DON’T need to file BOI reports. But DO stay informed, and keep your filing information handy in case of any sudden changes. And if you need any help with that, just give us a call.

01/13/2025

Are you a fan of daylight savings? If you said yes, we have some concerns. (Not really).

Our new president apparently isn’t a fan. And the Trump administration could mean you’ll never have to change your clocks again.

https://apnews.com/article/trump-daylight-saving-time-36ccbf61bea70aaac0f5c43b8029957c

01/11/2025

Our Thanks For YOU: Our Jersey City Clients

Research links practicing gratitude with joy. As we practice gratitude, our thanks go out to YOU. Thanks for choosing us this year.

01/10/2025

April might feel far away, but tax season really IS arriving soon. And one of the perks of setting up a good bookkeeping system? You're not left scrambling when the time comes.

If you want to be prepared when tax season arrives, now would be a great time to give us a call.

01/10/2025

In 2025, you need to focus on cash flow management. Why? One big reason is liquidity – having access to cash when you need it (and 2024 has proven you never know when you’ll need it).

Managing your cash flow well means you have enough liquid assets to cover short-term expenses AND handle the unexpected. You can also gain the freedom to take good unexpected opportunities.

If you’re not sure where to start, reach out. We’re happy to help.

01/08/2025

Making resolutions is easy, but actually STICKING TO them is the hard part. And right about now is when the new year's motivation starts to wear off.

Just a quick check-in: Have you stuck to your financial resolutions so far?

01/07/2025

Are you taking full advantage of customer feedback for your business? Here are a few strategies to optimize your approach:

🗣️Pivot based on REPEATED sentiments.
🗣️Showcase positive feedback loudly.
🗣️See negativity as potential for improvement.

On a scale of 1-10, how well do you think you leverage customer feedback?

01/06/2025

Name some simple financial goals that you'd recommend for anyone trying to improve their situation this year.

We've got thoughts, but we like to hear from you all too.