Marketing Your Microgym

By Blog, Profit FirstNo Comments

No matter what type of business you have, Marketing is Key!    There are so many resources now for marketing; including local TV spots, social media, print materials, word of mouth, and so much more! We highly recommend taking advantage of a variety of different marketing techniques. Don’t put all your eggs in one basket!  However, make sure that you are smart about choosing the best…

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Why Form 1099-NEC Matters to You

By Accounting, BusinessNo Comments

Form 1099-NEC is for business owners who use freelancers and independent contractors. The IRS has unveiled a new form. Yay!   Actually, Form 1099-NEC has already existed but was discontinued in 1982.   The IRS is simply bringing it back.   I know this feels overwhelming, but that’s why you’re reading this.   Form 1099-NEC, Nonemployee Compensation   For business owners who are familiar with…

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How To Set A Budget (And Stick To It!)

By Blog, Profit FirstNo Comments

Whether you are a business owner or running a household, it is important to know how to set a budget! Even more important, and more difficult, is sticking to said budget!  So, how do you set a budget and what would an accountant recommend?  Part of our Profit First System is based on setting up different accounts to better organize what part of your budget…

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How Small Business Can Stay Afloat During COVID-19

By Blog, BusinessNo Comments

How Small Business Can Stay Afloat During COVID-19  While some parts of the country are reopening despite the pandemic, other areas remain in strict lockdowns. If your business isn’t allowed to reopen due to ongoing COVID-19 concerns, you can still keep your business afloat by being resourceful and creative. For business owners who have reopened but are operating with severe limitations, you can find ways…

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Pause And Respond

By Blog, Profit FirstNo Comments

The first time I heard about this concept of Pause and Respond was when reading a book by Viktor Frankl titled Man’s Search for Meaning.   He says that “between stimulus and response, there is a space of time”. When something happens to you, that is what is referred to as the “stimulus” and before you respond, there is an opportunity to stop and process…

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Understanding The Miscellaneous Category

By Blog, Profit FirstNo Comments

Today I wanted to help you understand the miscellaneous category, so that you don’t land yourself in hot water with the bullies at the IRS.   There is a weird category we see a lot from our clients that I wanted to go over with you today.   First, I want you to think about your ledger from the eyes of an IRS auditor… If…

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Do Your Bookkeeping In-house Or Outsource?

By Blog, Profit FirstNo Comments

Bookkeeping, do you keep it in-house or do you outsource? How do you know which method is best for you? Now, I know that as an accountant, you may consider my opinion on bookkeeping biased, and to some degree, I will admit that it may be… We at Incite Tax & Accounting, are AMAZING at what we do, and have a far more advanced knowledge…

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Managing Monthly Charges For Your Members

By Blog, UncategorizedNo Comments

Today, I want to address a really great question about managing monthly charges for your members… You may be wondering, should I be asking all my members to be paying their membership dues on the same day every month? For example, everyone is billed monthly on the 10th of the month… This question was sent to me by a client who was struggling to realize,…

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Are You Tracking Member Attendance?

By Blog, Profit FirstNo Comments

Today’s topic…Tracking Member Attendance.   I touch on the importance of Tracking Member Attendance a bit more in my book Profit First For Microgyms, but today, I wanted to go over it briefly for you.  Tracking Member Attendance is not necessarily about tracking EVERYONE who attends, but tracking when members DON’T attend or maybe only attended once or twice. These numbers can be a KEY PREDICTIVE…

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EIDL- How You NEED To Prove You Used EIDL Funds Appropriately

By Blog
Well, Now comes the "not-so-fun" part...How to prove you used the EIDL funds appropriately   With so many loans being funded and business owners relying on them, we want to make sure you're using them correctly.   We want to help you have a perfect paper trail in place, as you probably will need to PROVE your usage of the loan amount.   This video...
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