Accounting Archives - Payne Nickles & Company - Ohio Accounting Firm, Business CPAs & Advisors

How the One Big Beautiful Bill Act Reshapes Your Year-End Tax Strategy

Key Takeaways The One Big Beautiful Bill Act (OBBBA) makes most Tax Cuts and Jobs Act (TCJA) provisions permanent, keeping lower brackets, a larger standard deduction, and full business expensing in place. Temporary deductions for overtime pay, tips, and auto loan interest are available through 2028, creating short-term opportunities for additional savings. Business owners should …

Key Takeaways Consistent financial reviews help reveal risks before they disrupt performance. Tracking trends in cash flow, debt, and margins supports long-term stability. Transparent accounting builds trust and stronger financial decision-making. Looking Deeper: What Your Balance Sheet Might Be Revealing A balance sheet is more than a static list of numbers. It tells the …

At Payne Nickles & Company, we believe effective accounting goes far beyond compliance; it should be a strategic advantage for your business. Our approach focuses on more than just preparing tax returns and reviewing statements. We can help our clients make proactive decisions all year long. This four-part series highlights practical—but often overlooked—strategies that can …

Bringing financial clarity and leadership to growing businesses—without the full-time hire. As a business owner, you must juggle operations, manage people, plan for growth, and closely monitor your financials. But in today’s environment, basic bookkeeping isn’t enough. More than ever, businesses need financial leadership—someone who can interpret the numbers, identify risks, and guide decision-making. In …

Construction business owners are no strangers to workforce challenges. Skilled labor is hard to find—and even harder to keep. More contractors are exploring profit-sharing to reward performance, reduce turnover, and tie compensation to results. However, to be practical, a profit-sharing plan must do more than hand out bonuses. It should align with your business goals, …

With inflation constantly driving up costs, businesses must be innovative about pricing to keep their profits intact while staying competitive. Rising expenses—labor, materials, or supply chain disruptions—can quickly eat away at margins. The key is to be proactive and strategic in pricing decisions to protect your bottom line and keep customers on board. This article …

Running a business comes with constant financial decisions, having the right tools to understand where your money is going can make all the difference. Financial dashboards are a game-changer, giving business owners real-time insights into their company’s financial health. With all critical financial data in one easy-to-read format, these dashboards help track performance, increase profitability, …

Every business strives to grow its profits, but achieving this requires a clear understanding of the numbers behind operations. One of the most important figures in this process is the Cost of Goods Sold (COGS). This financial measure captures the expenses directly tied to creating or purchasing a company’s products or services. Understanding how COGS …

As a business owner, you already know the importance of setting a budget to help you manage income, expenses, and investments. But did you know that budgets are living documents that need regular review and revision to stay relevant? Whether unexpected expenses come up, your business takes a different direction, or market conditions change, keeping …

Navigating the complexities of business ownership requires a keen understanding of financial planning. A comprehensive financial plan is more than just a set of documents; it’s a roadmap that guides your business through the ever-changing landscape of commerce, helping to steer day-to-day decisions and long-term strategies. Essential Components of Financial Planning Efficient cash management is …