Donna Edge CPA

07/04/2026

Happy 250th Birthday America!

🇺🇸 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸

05/25/2026

❤️🤍💙

01/01/2026

11/11/2025

As the wife an co-business owner of a Veteran, I understand the sacrifices you and your family have made. We greatly appreciate you! 🇺🇸🇺🇸

09/09/2025

‼️ Heads up regarding new IRS Scam!

Beware of the trending IRS flash drive scam. Find out how to verify IRS notices and keep your information safe.

07/04/2025

🇺🇸🇺🇸🇺🇸

06/27/2025

Understanding your financial statements, Part 3

The Cash Flow Statement shows where your cash is coming from and going to—broken down by operations, investing, and financing.

Operations: These are the day-to-day business activities that generate revenue and expenses.

Examples:
• Cash from customer payments
• Cash paid to suppliers or employees
• Interest payments or receipts
• Taxes paid

Think of this as cash related to running your business.

Investing: These involve buying or selling long-term assets used to grow the business.

Examples:
• Buying or selling equipment, property, or vehicles
• Making investments in other businesses
• Lending money or collecting on loans

This shows how your business is investing in its future.

Financing: These activities relate to how your business raises or repays money from investors or lenders.

Examples:
• Getting a loan or repaying a loan
• Owner contributions or withdrawals

This tells you how the business is funded and how profits are distributed.

Even profitable businesses can struggle if they don’t manage their cash.

This report tells you if your business can actually pay its bills!

FYI, Profit does NOT = Cash balance. Just because you have a profit, doesn't mean you have positive cash flow, so this statement helps you see what may be causing you to have a profit, but no cash. For example, if you have a loan, when you make a payment, it reduces your cash, but it does NOT reduce your profit (only the interest portion of the loan payment reduces your profit).

I admit, this is a hard one to get your head around-I really struggled with it in college and when I was studying for the exam.

06/27/2025

For real! 🎯💯💯

Entrepreneurship isn’t the easy path. It’s the free one.

You give up stability for possibility.

You trade the illusion of security for the chance to build something that’s truly yours.

No clocking in. No asking for permission.

But also? No guarantees.

You eat what you hunt.

You solve problems or you don’t eat.

That pressure? It’s not for everyone.

But for those who can handle it, the reward is unmatched—freedom, purpose, and ownership of your time.

You don’t wait for opportunity. You create it.

You bet on yourself when no one else will.

And one day, that risk turns into a life you don’t need a vacation from.

That’s the entrepreneur’s edge.💪🔥

@ Entrepreneurship Facts

06/26/2025

Understanding your financial statements Part 2

The P&L Statement (also called the Income Statement) shows how your business performed over time.

It tracks income, expenses, and whether you made a profit or loss. The profit/loss is represented at the bottom of the statement.

🌟Great for seeing if your business is growing—or where it's leaking money.

📆The date on this statement covers a specific period of time and shows you the total amount earned (income) or spent (expenses) during that period of time.

06/25/2025

Understanding your Financial Statements Part 1:

The Balance Sheet

Think of the Balance Sheet as your business's snapshot.

It shows what you own (assets), what you owe (liabilities), and what’s left for you (equity)—all at one specific moment in time.

💡 It helps you understand your business’s financial health at a glance.

📆The date on the Balance Sheet is what your current balance is as of that date (assuming your bookkeeping is up to date). For example, if the Balance Sheet is dated 1/31/2025, and you have a loan on your Balance Sheet as of 1/31/25, the amount you see should equal the true balance for that loan as of 1/31/25.