Why “Profitable” Doesn’t Always Mean “Cash-Healthy” — A Common Misunderstanding for Small Businesses
At LSA CPA, one of the most frequent points of confusion we see with business owners is this: “If I’m making a profit, why is my bank account still tight?” The answer lies in the difference between your profit and your cash flow—and it’s more important than most realize. Profit Doesn’t Tell the Whole Story…
Read ArticleTurning stock downturns into tax advantages
Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market volatility.) While such an investment might be something you’d rather forget, there’s a silver lining: you can claim a capital loss deduction on your tax return. Here are the rules when a…
Read ArticleThe One Big Beautiful Bill Explained: What It Means for Your Business and Personal Taxes
On July 4, 2025, the “One Big Beautiful Bill” (OBBBA) was signed into law. This legislation includes significant updates to the tax code for individuals and businesses, making permanent several provisions from the 2017 Tax Cuts and Jobs Act (TCJA) and introducing new deductions and incentives. Below is a summary of the key tax-related changes…
Read ArticleHow Can You Make Numbers Fun? Yes, It’s Possible.
Let’s face it: most people don’t associate numbers with fun. For many business owners, bookkeeping, budgeting, and financial reports can feel like a necessary chore—something you endure rather than enjoy. But at LSA CPA, we believe numbers don’t have to be boring or intimidating. In fact, when framed the right way, numbers can be inspiring,…
Read ArticleWhy It’s Still Important to Have a Human Do Your Bookkeeping in a World of AI
There’s no doubt about it—AI has changed the game in bookkeeping. Automation tools can import transactions, categorize expenses, and generate basic financial reports in seconds. But as powerful as these tools are, they don’t replace the value of human oversight. In fact, relying only on AI can often lead to costly mistakes, missed insights, and…
Read ArticleWhy Understanding Your Balance Sheet Is Imperative to Overall Financial Health
When most business owners think about their finances, they go straight to the profit and loss (P&L) statement. While tracking income and expenses is important, there’s another financial report that often gets overlooked—but is just as critical: the balance sheet. At LSA CPA, we believe understanding your balance sheet is non-negotiable when it comes to…
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