Know Your Numbers Before Tax Season!

Hello, future business stars!

I’m Albert Corey. Since 1985, we have assisted our clients with their income statements. 

I’ve helped over 35,000 businesses understand the importance of knowing their numbers.

Using things like INCOME STATE  and BALANCE SHEET would be best. 

Many business owners need to learn what their numbers mean every day.

By the end of this blog post, you will learn how to understand your business numbers.

Trust me, knowing your financial details before tax season is super important!

What is an Income Statement?

An income or profit and loss statement is your business road map.

It shows whether your Business is making money. 

This form is a health checkup for your Business.

Do you want to know if your Business is doing great or struggling? This critical paper will tell you!

Breaking Down Income Statement

The top of the Income statement is revenues.

It includes every penny you have collected from your Business.

You will discover all the different ways your clients pay you, from the cash they give you to credit card and Zelle payments. 

Most businesses have expenses, all the costs of running the Business.

What you pay out to run your Business is listed under expenses.

Some examples include paying employees, rent, and other bills.

 Now, we are at the part when every business owner must look at your bottom line.

That is subtracting your revenues from expenses.  

If the bottom line is negative, your Business is losing money, and you had better make some adjustments.  

You are also looking for a positive number to grow your Business and take the profits out.

After spending all year putting together your income statement, you can file your tax return. 

Do you want to do your bookkeeping? 

 Looking to have someone review it before tax time. 

Corey & Associates Accountant Advisors could be your place to get your answers.

They have assisted over 35,000 happy business owners in completing their tax returns with less stress.

They are not a virtual firm. 

They have an office at 1800 W 68 St, suite 118, Hialeah, FL 33014. 

Please stop by if you are in the area; they love walking. 

You can call their office at 305-823-9228 for a complimentary consultation.    

Follow them at http://Youtube.Com/Albertcorey for daily Business and tax strategy.