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MyCFO Link Blog

Thanks for stopping by our blog. If you visit often, you'll learn about our Issaquah cost accounting, business services, and other tax help solutions. We hope you find the content valuable and relevant.  Should you have a question you would like to see answered, please drop us an email and let us know what you would like to see answered!


 

Cash Flow Statements- What They Are and Why They Are Important

by Brett Backues on December 12, 2016
Every quarter, publicly traded companies need to file a cash flow statement to the public and the US Securities and Exchange Commission (SEC). The cash flow statement contains information about investments, spending on business activities, and flows of cash from any of the businesses investments or regular operations. To fully understand the...
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How To Determine Your Pay In An S Corporation

by Brett Backues on October 30, 2016
Profits of an S Corporation is not considered self-employed, meaning that the profits are not treated as self-employment income. Owners of S Corporations are required to pay themselves a...
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Incremental Costs and When They Apply

by anonymous on October 17, 2016
In order to assess the profitability of any company it is important to know how various costs affect the overall operation. This also means it is necessary to evaluate the entire cost factors...
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What Is Comprehensive Income and Who Does It Apply Too?

by Brett Backues on September 27, 2016
What Is Comprehensive Income and Who Does It Apply Too? Keeping careful watch of company income from year to year is important in gauging the success and growth of a company of interest. There are...
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Are Payments Always Expenses in My Business and It Not, What is the Difference?

by Brett Backues on September 13, 2016
What Are Direct and Indirect Expenses? Tracking costs are an essential part of your business reporting process. Having a business is a big responsibility, and you want to make sure you get every...
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How is Working Capital Defined and Why Is It Important?

by Brett Backues on August 30, 2016
When it comes to using accounting information, there are several different ways that decision makers can work with numbers to determine what actions they should take in business. The ratios and...
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Are Estimates Ever Allowed In Bookkeeping and If So, When?

by Brett Backues on August 11, 2016
Accounting always seems to be an exact science. There is a certain way to record transactions and there is no other way to do it, right? Not necessarily. While we often do know exact numbers from...
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What Exactly is a Ghost Asset?

by Brett Backues on August 1, 2016
What Exactly is a Ghost Asset? Your business may appear better off than it actually is, thanks to these things called “ghost assets”, but what are they, exactly? If you’re thinking that it...
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Starting a business? Don’t forget these critical accounting elements!

by Brett Backues on July 27, 2016
Starting a business? Don’t forget these critical accounting elements! Making the leap into becoming a small business owner is an exciting one, but it often comes with unexpected complications...
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I am Behind on Paying My Payroll Taxes, What Now?

by Brett Backues on July 17, 2016
Neglecting payroll taxes might seem like a minor offense. After all, the building’s electricity isn’t getting shut off, employees are getting their paychecks, and business is happening as usual....
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What are Some of the Major Tax Benefits for Members of the Military?

by Brett Backues on July 14, 2016
You’ve given so much to your country by serving in the military. It’s only fair that you earn a few breaks on your taxes. Members of the U.S. military can receive a number of tax advantages as...
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Know Your Daily Numbers To Avoid Problems

by Brett Backues on November 2, 2015
Know Your Daily Numbers - To Avoid Problems Every business owner knows that the daily numbers for sales determines the company's financial status. Up and down numbers play havoc with a stable...
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Getting The Most Out of Your Team

by Brett Backues on October 19, 2015
In today's business culture, most companies utilize teams to accomplish projects and goals. Teams come together and work in a variety of ways. Some meet on a regular basis, such as weekly or...
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Comprehensive Income-What You Need To Know

by Brett Backues on October 13, 2015
The use of comprehensive income (CI) as a measure of a company's finances is an example of a fair value measurement. Using a comprehensive measure of income has resulted in increased amounts of...
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How Cash Flow Can Keep You Out of Trouble

by Brett Backues on September 14, 2015
Would it surprise you to know that a number of small and medium-sized enterprises (SMEs) are forced to close their doors every year simply due to poor cash flow? In fact, it doesn’t matter how...
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