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

4 Tax Planning Opportunities You Might Be Overlooking – 1031 Exchanges

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 …

Key Points: Operating budgets manage short-term expenses like payroll and rent, guiding day-to-day business decisions and supporting cash flow. Capital budgets focus on long-term investments like equipment or software, which impact the balance sheet and require depreciation over time. Separating capital and operating budgets improves accounting accuracy, supports better tax planning, and aligns with 2025 …

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 …

Growth is exciting as a business owner, but it also brings added complexity to your tax situation. Expansion may mean hiring new staff, entering new markets, or investing in new assets. Without proper planning, these changes can increase your tax burden and limit the capital you have available to reinvest. The good news? With proactive …

At some point, nearly every business owner faces a common question: How do I fund the next growth stage? Whether you’re eyeing new equipment, a larger space, or need extra cash flow, choosing the right kind of financing is a big decision that shapes your business well beyond the initial investment. Business owners typically consider …

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, …

If you’ve been trading or holding digital assets, some significant tax changes are heading your way, and they could shake up how you track and report your transactions. Starting January 1, 2025, the universal accounting method is going away. In its place, the IRS is introducing a wallet-by-wallet approach—and they’re offering a one-time safe harbor …

Running a business is no easy feat. Every day, you’re juggling several different things—keeping customers happy, managing operations, thinking about growth—sometimes, it can feel like things are going great, and other times… not so much. That’s the thing about business: It’s unpredictable. That’s why having cash reserves in place can make all the difference. It’s …

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 …