Thompson Accounting

We certainly love when our clients recommend us to their friends and family. Thank you for your continued support!

We’re half way through the year, it’s imperative that you know how the financial health of your company. Let’s start with your profit vs revenue.

Revenue is the total amount of income from the sale of goods or services, while profit is the amount that remains after expenses, debts, and operating costs. In the grand scheme of things, your profits are generally the more important of the two. Even if your business is doing well in terms of revenue, too small of a profit margin can still spell trouble.

When evaluating where you are in your journey to financial health and freedom, be sure to consider both concepts.

We’re half way through the year, it’s imperative that you know how the financial health of your company. Let’s start with your profit vs revenue. Revenue is the total amount of income from the sale of goods or services, while profit is the amount that remains after expenses, debts, and operating costs. In the grand scheme of things, your profits are generally the more important of the two. Even if your business is doing well in terms of revenue, too small of a profit margin can still spell trouble.

When evaluating where you are in your journey to financial health and freedom, be sure to consider both concepts.

Deadline to file your 2022 tax return is upon us! There's still time to file your return or file an extension!

Contact us today!

📞 504-264-3125
📧 [email protected]
🖥 Link in our bio! www.thompsonaccountingfirm.com

While some instances of undercharging may be quite easy to spot, others are similar to a tiny leak in a boat, slowly sinking your business. Be sure to check in regularly with your chosen finance professional to make sure you aren't undervaluing your business or yourself.

Another important for business owners. There are several methods of calculating depreciation, some of which minimize taxable income. Talk to your financial expert about the best method for your assets.

Hiring a knowledgeable accountant can alleviate the stress and anxiety directly associated with tax season. Let us help you make it through this tax season as stress free as possible.

Visit the link in our bio to schedule your consultation today.

📞 504-264-3125
📧 [email protected]
💻 www.thompsonaccountingfirm.com

Navigating business ownership starts with understanding the important terms and concepts you'll encounter along the way.

Are you ready to file your 2022 tax return?

🎉IRS is now accepting tax returns!🎉

Contact us today!

📞 504-264-3125
💻 www.thompsonaccountingfirm.com
📧 [email protected]

Note: To avoid filing an amended return and/or delay in processing your return, make sure you have received ALL tax documents before filing.

Monday, January 23, 2023, is the beginning of the nation's 2023 tax season when the agency will begin accepting and processing 2022 tax year returns.

Be sure to supply your tax preparers with ALL tax documents to avoid a delay in your return being processed.

Most refunds issued in less than 21 days; EITC refunds for many available starting February 28

Business assets fall into three broad categories: tangible, intangible, and intellectual property. Using your current assets to their full potential, and assessing the right time to acquire new ones, are key to your business's success.

Business assets show the profitability and the financial position of your business. create accurate profit and loss reporting. increase goodwill and positive attitudes towards your business. assure shareholders and attract investors.

Misclassifying your workers can result in penalties such as monetary fines, being barred from state contracts for three years, and even jail time. Knowing the legal differences will save your business a lot of trouble down the line.

What qualified tax business deductions are you not taking advantage of on your return?

Contact us today! (LINK in bio)
📞 504-264-3125
📧 [email protected]
💻www.thompsonaccountingfirm.com

Thompson Accounting is an accounting firm that is committed to providing the highest level of service. We provide outstanding service to our clients because of our dedication to the three underlying principles of professionalism, responsiveness and quality.

NEWS FLASH: Taxes are not based on a secret mythical math equation.

The Internal Revenue Service and many states are pay-as-you go. For business owners, estimated tax payments are based on profits earned each quarter and paid in advance. At the end of the year, your tax return is a way of "balancing out and settling up."If you overpaid, you get a refund. If you underpaid, you will owe a tax liability.

With proper bookkeeping and tax planning, you can know where you stand and avoid any surprise tax bills. If you would like to start 2023 on the right foot, contact us today! Let us eliminate the stress and burden of keeping up with your financials and taxes. It will free up time to allow you to focus on your craft and getting new clients/customers!

Click the link the bio to schedule a free 30 minute consultation.

📧 [email protected]
📞504-264-3125
💻www.thompsonaccountingfirm.com

Don't forget to set aside time (and energy) to reach out and make connections with fellow entrepreneurs. The right network can put you in a position to bolster one another's businesses.

NOW accepting new clients! Contact us TODAY!

Business owners, your FAVORITE season is officially underway! Take note of the important tax deadlines.

If you're busy running your business, outsource your accounting and tax preparation services by contacting us TODAY!

"Your SUCCESS is OUR business!"

CLICK THE LINK IN BIO!
📞504-264-3125

As 2022 come to a close, are you on track to completing your bookkeeping to determine your retirement contribution?

If you're behind in bookkeeping, contact us today! We can assist you in making a concise financial decision by ensuring your financial are accurate and up-to-date!

Click the link in the bio!

📧 [email protected]
📞 504-264-3125
💻 www.thompsonaccountingfirm.com

Don't allow the forgotten filings and fees jeopardize your livelihood.

Outsource your bookkeeping task and contact us TODAY!

Defintion: a preplanned means of extricating oneself from a situation that is likely to become difficult or unpleasant.

Most of us don't dream of working for the rest of our lives, even as entrepreneurs. However, retirement is not the vague and natural stopping point that most assume it to be. Like anything else in business, you need an actionable plan. Start considering what retirement means for you and what it will take to get there.

Hustle culture may be popular, but it is also often counterproductive. Taking time to rest and recharge isn't a luxury, it's a necessity. Your mind and body are two of the first and foremost assets your business holds, yet they often receive the most neglect or abuse.

As we go into the weekend, we challenge you to practice holding your mental and physical health in the same regard as your financial health.

Instagram is one of the top social platforms in terms of user engagement. Leveraging your presence on the app can directly translate to an increase in sales.

Business assets fall into three broad categories:
1.Tangible
2. Intangible
3. Intellectual Property

Using your current assets to their full potential, and assessing the right time to acquire new ones, are key to your business's success.

There's still time to e-file your 2021 tax return!

E-filing deadline: Monday October 17, 2022
Contact us today at 504-264-3125!

The deadline for e-filing is Monday October 17, 2022!

Contact us today to file your 2021 tax return!

☎️: 504-264-3125
📧: [email protected]

Everything seems equally urgent when your business hangs in the balance. However, if you have too many irons in the fire, something (or someone) is bound to get burned. Remember to take the time to evaluate which tasks to handle immediately, which can wait, and which to outsource.

A crucial aspect of your business's financial health is managing cash flow. Even businesses that look successful on paper can fall victim to issues with day-to-day funds. Be sure to keep your eyes peeled for any imbalances between your inflow and outflow.

Tip: If consistent unpaid invoices are causing cash flow shortages, try rethinking your billing strategy. Implement discounts for paying early as well as penalties for late payments to discourage future mishaps.

Revenue is the total amount of income from the sale of goods or services, while profit is the amount that remains after expenses, debts, and operating costs. In the grand scheme of things, your profits are generally the more important of the two. Even if your business is doing well in terms of revenue, too small of a profit margin can still spell trouble.

When evaluating where you are in your journey to financial health and freedom, be sure to consider both concepts.

Contrary to popular belief, "competitive price" doesn't always equate to "cheapest price". In fact, trying to consistently underprice competitors could result in selling at a loss, dealing major damage to your financial health. Depending on your goal, there are several strategies for pricing your products that will give you an edge over your competitors.

Consult your chosen business and financial professional(s) to make sure you've selected the best strategy for your business.