Free Resources

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Which international travel expenses are deductible?

Before you head out for an international business trip, talk to your accountant about how to take advantage of as many deductible expenses as possible. Many of the IRS regulations for deducting international travel expenses depend on the percentage of the trip that is business or personal. If you know the rules before you go, [...]

By | May 18th, 2023|General Topic|0 Comments

6 requirements of deductible meal expenses when you are not traveling for work

It is ordinary and necessary for your industry. = common, appropriate and helpful This doesn’t mean that the meal is required or indispensable. It is not lavish or extravagant for the business’s industry. = reasonable based on facts and circumstances This doesn’t mean a specific dollar threshold. The taxpayer is present at the meal. = [...]

By | March 28th, 2023|General Topic|0 Comments

Can I pay an accountant to set up my accounting system and then maintain it myself?

Yes, you can. But, you shouldn’t. Especially, if you want to believe in your numbers. In our experience, this arrangement harms you more than it helps you. Therefore, we don't set up accounting systems that you maintain yourself. Our refusal is for your sake, not ours. When we have tried this in the past, it [...]

By | November 13th, 2019|General Topic|0 Comments

How to Cash Flow Forecast for a Creative Agency?

Everybody is doing it? Nope, I am not talking about kung-fu fighting. I am talking about cash flow forecasting.         ♪  ♫  ♪  ♫  ♪ Oh - wo - wo - wooooo                      Dut - dut - du - dut - dut - dut [...]

By | November 8th, 2019|General Topic|0 Comments

Xero is the Best Accounting Software for Creative Agency Owners

Colvin CPA uses Xero accounting software exclusively. That’s right, exclusively. The only reason we ever open any other accounting software is to convert a client’s accounts to Xero. We are often asked how we decided to be so devoted to Xero and the answer is simple. We chose Xero for your convenience and your enjoyment. [...]

By | November 5th, 2019|General Topic|0 Comments

How do Marketing Steps Mirror Accounting Steps?

As the owner of a creative agency, you are familiar with the path that you walk with your clients. As your client grows, you guide them along and explain each step along the way. Well, I have great news, your familiarity with that path is about to help you understand accounting services. This chart shows [...]

By | October 29th, 2019|General Topic|0 Comments

Can I do my own accounting?

One of the smartest questions that I hear from the owner’s of small creative agencies is “can I do my own accounting”. I love hearing this question because it means that you are running your agency with intention and you are aware that your largest expense is paying people. I understand how the thought of [...]

By | October 10th, 2019|General Topic|0 Comments

How to find a dreamy accountant?

Small business owners have ninja level decision making skills. How many decisions do you think you made last month?  You found a contractor to help you deliver a project. You hired an administrative assistant. You determined year-end bonuses for your team. You found a speaking coach. You planned your cash flow needs for the next [...]

By | October 3rd, 2019|General Topic|0 Comments

How can a small business owner manage an employee benefit plan?

For a small business owner, managing employee benefits can be a daunting task. Is there a simple solution? Yes! At ColvinCPA, we are constantly searching for apps and technology that can make life easier for our clients! If you use Gusto's payroll services, you need to know that they now manage employee benefits at NO [...]

By | July 14th, 2019|General Topic|0 Comments

What is the easiest way to save your receipts electronically?

Is there an EASY way for a small business of 1-3 people to save receipts? Yes! At ColvinCPA, we are constantly searching for apps and technology that can make life easier for our clients! If you use Xero accounting software, the simplest solution is called Xero Expenses. Xero Expenses costs an additional $30/month on top [...]

By | July 14th, 2019|General Topic, Self Help|0 Comments