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 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…
Read ArticleWhy Your Beauty Business Needs an Accountant: More Than Just Bookkeeping
At Lightheart, Sanders, and Associates, we understand that running a beauty salon, spa, or cosmetology school is about more than just creativity and artistry—it’s about financial success, stability, and growth. While you’re busy transforming clients with stunning hairstyles, glowing skin, and flawless makeup, managing your finances can quickly become overwhelming. That’s where we come in—not…
Read ArticleThe Importance of Budgeting for Small Business Owners
Budgeting is the backbone of financial management, especially for small business owners looking to maximize profits and sustain growth. A well-structured budget offers a clear financial roadmap, helping business owners manage cash flow, make strategic decisions, and avoid surprises. In this post, we explore the importance of budgeting and shares practical tips to help small…
Read ArticleWhy Keeping Personal and Business Expenses Separate Is Crucial for Your Success
Why Keeping Personal and Business Expenses Separate Is Crucial for Your Success As an entrepreneur or small business owner, managing your finances can be overwhelming, but one principle can make a world of difference: separating your personal and business expenses. While it may seem like a minor detail, keeping these accounts distinct is vital…
Read ArticleNavigating the Holiday Hustle: Financial Strategies for Small Businesses
Navigating the Holiday Hustle: Financial Strategies for Small Businesses The holiday season is a whirlwind of activity for many businesses. While it’s a time of increased sales and heightened customer expectations, it also brings unique financial challenges. Many small businesses can get overwhelmed with the rush and lose sight of the bigger financial picture. Key…
Read ArticleUsing Data To Make Decisions
I recently listened to a podcast from a sports/business performance psychologist. It was intriguing to listen to him talk about the need to start with finding the truth before finding solutions. This concept has been working in my mind for several days as it applies to so much of what we do as leaders of…
Read ArticlePlanning your estate? Don’t overlook income taxes
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, a much smaller exemption resulted in many people with more modest estates attempting to avoid it. But since many estates won’t currently be subject to estate tax, it’s a good time to devote more planning to income tax saving for your heirs.
Read ArticleWhat types of expenses can’t be written off by your business?
In the world of tax deductions, it’s crucial to know what you can’t claim. Explore this blog to unveil the expenses your business can’t write off and safeguard your financial compliance.
Read ArticleEvaluate Whether a Health Savings Account is Beneficial to You
With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs.
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