Neil Cassmeyer, CPA

A business’s cash flow indicates liquidity—how much money there is to immediately pay expenses, and having consistent cash flow is a key sign of a successful business. Small business owners can create a cash flow statement to gauge the timing of money coming in vs. going out. Some ways to improve cash flow include: building in margin of error in cash flow projections, creating cash reserves for when flow fluctuates, and adjusting customer or supplier payment terms. Looking for assistance with your business accounting? Give us a call today at (314) 753-8101

Planning and implementing a proper emergency fund should be at the top of your priority list. It’s the key to healthy finances and helps you to stay out of debt in the state of an emergency. Saving may be overwhelming, but just adding a little bit of money to your fund every month can go a long way. Guidance to navigate through life's challenges towards financial success is just a call away! Contact us at (314) 753-8101.

2024 is the year of taking your business to the next level. We are here as your consultant to guide you along this path. Running a business is hard, but data shouldn’t be. Contact us at (314) 753-8101.

As a business owner, navigating tax debt and knowing your options for resolving it effectively is essential. By being proactive, the strategies you can take towards tax relief and relieving the burden of financial stress can be easy! Don’t let tax challenges overwhelm you and your business.

Options for Businesses Facing Tax Debt | www.financialhotspot.com Navigating tax debt can be a daunting challenge for any business owner. Whether you're struggling to meet your tax obligations due to unexpected financial setbacks or facing penalties for past non-compliance, it's essential to explore your options for resolving tax debt effectively. From negotiating...

There are multiple factors that can contribute to your credit card limit. Income, debt-to-income, credit history, type of credit card and even your limit on other cards all play a role in the determination of your credit card limit. We keep your finances in order so you can continue focusing on what you love! Call us at (314) 753-8101 to schedule a consultation.

Accounting consulting includes maintaining accurate and efficient bookkeeping procedures, analyzing the profitability of your company, and providing comprehension of your figures and how your finances impact your company. Let’s talk details. Give us a call today at (314) 753-8101.

Putting money in alternative investment funds provides a variety of compelling reasons. These funds frequently show the possibility for higher returns compared to traditional investments, owing to their display of unique and less correlated markets. We'll save you hours of confusion and stress - you can count on that! Contact us today at (314) 753-8101 for more information about our services.

If your records are disorganized, you have inaccurate financial reports, cash flow problems, and issues with tax compliance, your bookkeeping system is likely failing you. Healthy bookkeeping is essential for your business success. Take the proactive steps to organize your records effectively to avoid devastating professional mistakes to ensure the long-term financial health of your company.

5 Signs Your Bookkeeping Is Failing | www.financialhotspot.com Bookkeeping is the backbone of any successful business. It's the process of recording, organizing, and managing financial transactions. When done right, it provides valuable insights into your company's financial health and helps you make informed decisions. However, if your bookkeeping is failing,....

When starting your business, you'll have to choose one of two different accounting methods: cash or accrual. Cash-based accounting is typically used for small, first-time businesses where sales and expenses are recorded only at the time of payment. Accrual accounting is more complicated to cash-based accounting. Sales or expenses are recorded when they're incurred, even though the payments will begin at a later date. The accrual method encompasses a longer-term view of the business across multiple periods, and it’s the standard among larger companies and financial institutions. Take a moment to determine what you think will be fit your business, and if you need additional help with your businesses accounting - don't hesitate to call us today at (314) 753-8101!

Estate tax is a tax collected by the federal government upon the estate of a deceased person. The federal government allows for certain exclusions and deductions, then taxes a set level. In addition to the federal estate tax, several states have a state estate or inheritance tax. We keep your finances in order so you can continue focusing on what you love! Call us at (314) 753-8101 to schedule a consultation.

As a small business owner, it's important to periodically estimate your income taxes throughout the year based on your business' growth and projected pretax income. If you're a small business owner, including online business owners, may find yourself having to make quarterly estimated federal tax payments if you expect to owe more than $1,000 for the year. Need help with your business' taxes? Schedule an appointment with us today at (314) 753-8101!

Because the world of tax laws, regulations, and financial responsibilities are difficult to navigate, the assistance of a tax attorney is an invaluable tool. Protecting your finances and ensuring that you are compliant with tax laws is essential if you have complex tax situations or if you are going through an IRS audit.

7 Reasons to Consult a Tax Attorney | www.financialhotspot.com When it comes to navigating the complex landscape of tax laws, regulations, and financial responsibilities, consulting a tax attorney can be a strategic move that pays dividends in the long run. As a taxpayer, you may find yourself facing various situations where the expertise of a tax attorney beco...

Setting short-term financial goals as well as mid-term and long-term ones are important steps toward becoming financially secure. If you aren’t working toward anything specific, you’re likely to spend more than you should. Key short-term goals include setting a budget, reducing debt, and starting an emergency fund. Medium-term goals should include key insurance policies while long-term goals need to be focused on retirement. We keep your finances in order so you can continue focusing on what you love! Call us at (314) 753-8101 to schedule a consultation.

Keeping accurate and up-to-date records increases a small business’ chances of success and are especially important to have for tax time. Try creating a folder of all paper receipts based on expense type, vendor, or supplier. For more small business accounting tips, contact us today at (314) 753-8101!

When in doubt, always have the following up to date - it will make your life a whole lot easier: an income statement, profit and loss statement, balance sheet, bank reconciliation, and a cash flow statement. This will get you started in the right direction and help you keep track of your accounting. Are you searching for a skilled and professional accountant? Look no further! Contact us at (314) 753-8101 to schedule your consultation. We look forward to working together!

Honoring all the mothers today💐

For self-employed business owners, claiming a home office tax deduction is an advantageous strategy; however, the IRS sets very specific requirements in order to be eligible to qualify for the deduction. Having a detailed record-keeping process is essential in ensuring a smooth home office deduction claim.

Who Can Claim a Home Office Tax Deduction? | www.financialhotspot.com As a self-employed business owner, the prospect of claiming a home office tax deduction can significantly impact your bottom line. Understanding the criteria for eligibility is crucial for optimizing this deduction and reducing your taxable income. In this blog post, we'll explore who can claim a ho...

Making mistakes on your tax return is a big deal, leading you to possibly miss out on a larger refund or, at worst, could result in an audit from the Internal Revenue Service (IRS). The best way to fix these mistakes is to avoid making them in the first place. If you need help with filing your taxes, we're here for you. Call us today at (314) 753-8101 to set up your appointment!

You might have heard the terms estate tax and inheritance tax used interchangeably. They are, in fact, two different types of taxes! Estate taxes are paid by — you guessed it — an estate! Inheritance taxes are paid by heirs (i.e., the people getting the inheritance).

Only six states have an inheritance tax: Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania. Call us at (314) 753-8101 for any questions regarding these taxes.

Setting personal financial goals shouldn’t seem like a daunting task. In fact, it should be motivating! Securing your financial future to purchase a home, start a business, or retire in a heathy spot helps you take control of your future and success. Set clear and achievable goals that align with your aspirations and priorities.

Tips for Setting Your Personal Financial Goals | www.financialhotspot.com Setting financial goals is a crucial step toward securing your financial future and achieving long-term success. Whether you're aiming to buy a house, start a business, or retire comfortably, having clear and achievable financial goals can provide you with direction and motivation. In this blog post...

We study the tax changes so you're not surprised. It's always a great idea to get ahead of the tax game and prepare early. To make a tax appointment, give us a call today at (314) 753-8101.

Take charge of your spending by cooking your meals at home. Create a plan and switch it up to stay exciting and tasteful! Food truly consumes finances more than anything else. Watch your money grow as you begin to implement this tip. Get started with our bookkeeping service today by contacting us at (314) 753-8101.

A key component of bookkeeping is accounts payable (AP). It aids small business owners in knowing who payments need to go to. AP contains unpaid invoices that have yet to be settled and are an essential part of your company's debts. Books behind? Get caught up by contacting us at (314) 753-8101 to discuss how we can help you!

Being able to budget is a powerful financial tool that helps you gain control over your spending and achieve money-wise goals. This fundamental is easy to achieve with the right strategy that promotes the ongoing process of financial success and security.

Enhancing Your Basic Budget-Building Skills | www.financialhotspot.com Improving your basic budget-building skills is a powerful step toward financial empowerment. Mastering the fundamentals can help you gain control over your spending, save for a specific goal, or simply build a safety net. In this guide, we'll explore practical strategies to enhance your budgeting pr...

Look at your purchases from the prior month and find out where you are splurging. Are you spending money on subscription boxes, movies, hair appointments, nail salons, restaurants, coffee shops, buying clothes, concerts, or even on Amazon? All these expenses add up and temporarily cutting them out can help you tremendously. Books behind? Get caught up by contacting us at (314) 753-8101 to discuss how we can help you!

So you've been told that as a business owner, you should look into hiring a business consultant, but what exactly do they do? It's fairly straightforward, a business consultant primarily assists with identifying and overcoming the obstacles that arise along a company’s path to meet its goals. Want to learn more about business consulting and how it can help you? Follow our page today and call us at (314) 753-8101 for more information about our services!

If you inherit or bequeath something, watch out for capital gains tax. Capital gains taxes are paid when you sell an asset, such as stocks or bonds, for profit. Investments such as stocks, bonds, cryptocurrency, real estate, cars, boats and other tangible items are subject to capital gains taxes when they are sold. Call us at (314) 753-8101 for any questions regarding these taxes.

Business financial audits don’t have to be scary! With careful planning and organizational preparation, the process will be smooth and successful. Remember – being proactive is your greatest asset!

5 Important Steps to Prepare for a Business Audit | www.financialhotspot.com Facing a business audit can be daunting, but the key to a successful outcome is meticulous preparation. Whether you're a seasoned entrepreneur or a small business owner, understanding the steps to prepare for an audit is essential. In this comprehensive guide, we'll walk you through five crucial ste...

Having accurate books can go a long way in your professional and personal life. It is essential for tax reporting, legal compliance, budgeting, higher profitability, financial management, and reduced stress. We’ll save you hours of confusion and worry – you can count on that! Contact us today at (314) 753-8101 for more information about our services.

Something as small as being mindful to turn off the running water while brushing your teeth or shorter showers can go a long way for saving on daily essentials. Using gas apps can help you find the cheapest fuel near you. Buying groceries with coupons is also a win. These small changes can create big savings, especially if you keep track of it! We keep your finances in order so you can continue focusing on what you love! Call us at (314) 753-8101 to schedule a consultation.