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# Sabo CPA P.C.

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## Posts

- [Blog](https://franksabo.com/blog/) - Blog - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Building a Resilient Supply Chain in Your Business](https://franksabo.com/building-a-resilient-supply-chain-in-your-business/) - Supply chain breakdowns continue to stymie small businesses, causing them to lose sales and profits. Whether your business has been affected or not by supply chain delays and shortages, it’s a good idea to take steps to make your supply chain as resilient as possible. Your supply chain starts with the acquisition of materials that
- [Five Summertime Strategies for 2023](https://franksabo.com/five-summertime-strategies-for-2023-2/) - We’re six days away from the first day of summer, and a few weeks away from the midpoint of the year. It’s the perfect time for taking a strategy check in your business to see how you’re doing for the first half of 2023 as well as to plan something fun and productive for summertime.
- [Cool Tech Tools: ChatGPT](https://franksabo.com/cool-tech-tools-chatgpt-2/) - The topic of artificial intelligence (AI) has been in the news quite a bit recently, and one of the reasons is the launch of an AI chatbot called ChatGPT. The GPT in ChatGPT stands for generative pre-trained transformer, which is a program that can realistically write like a human and interact in a conversational way.
- [Five Summertime Strategies for 2023](https://franksabo.com/five-summertime-strategies-for-2023/) - We’re six days away from the first day of summer, and a few weeks away from the midpoint of the year. It’s the perfect time for taking a strategy check in your business to see how you’re doing for the first half of 2023 as well as to plan something fun and productive for summertime.
- [Cool Tech Tools: ChatGPT](https://franksabo.com/cool-tech-tools-chatgpt/) - The topic of artificial intelligence (AI) has been in the news quite a bit recently, and one of the reasons is the launch of an AI chatbot called ChatGPT. The GPT in ChatGPT stands for generative pre-trained transformer, which is a program that can realistically write like a human and interact in a conversational way.
- [5 Ways to an Accountant’s Heart](https://franksabo.com/5-ways-to-an-accountants-heart/) - In the last few years, the shortage of accounting professionals has grown tremendously, and many business owners are struggling to find reputable, quality accounting services. Prices for accounting services may have gone up due to this supply/demand imbalance, and they will keep going up for years to come– due to the shortage in accounting graduates
- [Don’t Shortchange Yourself: What an Entrepreneur’s Pay Should Cover](https://franksabo.com/dont-shortchange-yourself-what-an-entrepreneurs-pay-should-cover/) - Being in business means taking a lot of risks, especially financially, and as an entrepreneur, you deserve to be rewarded for those risks. Your pay is just one of the many benefits of your self-employment. But it’s not like the pay you get as an employee; it needs to be more comprehensive than that. Getting
- [1099-K Reporting Changes](https://franksabo.com/1099-k-reporting-changes/) - For taxpayers collecting payments through a third-party payment platform (such as PayPal), the American Rescue Plan Act (the “Act”) established a major change to tax reporting rules to prevent businesses and contractors from hiding income through the receipt of electronic payments. Form 1099-K is the tax form issued by credit card companies and third-party payment
- [Cool Tech Tools: Drones](https://franksabo.com/cool-tech-tools-drones/) - Drones were considered fun when they first came out, but they are far from toys. Drones have surprising benefits with extremely high return on investment to certain business owners. A drone is a robot that can fly and that is controlled by a remote device. The technology includes GPS (global positioning system) and built-in sensors.
- [6 Ideas to Put the Spring into Your Spring Revenue](https://franksabo.com/6-ideas-to-put-the-spring-into-your-spring-revenue/) - While spring brings a change in the weather for most locations, it also brings a number of opportunities to refresh your products and services. Spring is a great time to boost your marketing campaigns so that you can boost your business revenues. Adding the theme of spring to your marketing campaigns allows customers to see
- [Do You Need a Business Savings Account?](https://franksabo.com/do-you-need-a-business-savings-account/) - If you have accumulated more money in your business checking account than you really need for daily operating expenses, that is a nice problem to have! It’s time to consider putting that money to work. A business savings account might be your answer. Every bank is different when it comes to the features and benefits
- [Is Sunk Cost Bias Affecting Your Spending Decisions?](https://franksabo.com/is-sunk-cost-bias-affecting-your-spending-decisions/) - As business owners, we’d like to think that we make rational, logical decisions when it comes to our business finances. However, scientists have discovered that we have built-in biases in our brains and our thinking processes, and one of these biases is the sunk cost bias. A sunk cost is simply money, time, or resources
- [Knowledge Panels](https://franksabo.com/knowledge-panels/) - Are you looking for new ideas to market your business? If so, knowledge panels might be something to consider. Most people haven’t heard of them, but they are widely used in search results every day. Knowledge panels are an invention from Google. They are the information panels that appear on the bottom right corner of
- [Understanding Equity on the Balance Sheet for a Sole Proprietor](https://franksabo.com/understanding-equity-on-the-balance-sheet-for-a-sole-proprietor/) - The equity section of the balance sheet looks different depending on the legal structure of your business. The most common entity types are corporations, partnerships, and sole proprietors. In this article, we’ll take a look at what the equity section of the balance sheet looks like for sole proprietors. The Equity Section As a reminder,
- [10 Ways to Slow Down in Business (and Why You’d Want to)](https://franksabo.com/10-ways-to-slow-down-in-business-and-why-youd-want-to/) - Sometimes we just need to slow down. It could be our body telling us it needs a break. It could be our mind experiencing the first signs of burnout. Even if you own your own business, you are subject to burnout, especially if you are a people pleaser or say “yes” to everyone! But how
- [Prioritizing Capital Expenditures](https://franksabo.com/prioritizing-capital-expenditures/) - Most small businesses own fixed assets, which include items like land, buildings, equipment, and automobiles. The investments of adding, replacing, or improving upon fixed assets is called capital expenditures (capex). It seems like there is never enough money for all the capital expenditures that need to be done in a business. To make the best
- [Beware Aggressive Employee Retention Credit “Mills”](https://franksabo.com/beware-aggressive-employee-retention-credit-mills/) - To help small businesses keep employees on their payroll during the pandemic, Congress introduced the Employee Retention Credit (ERC) in 2020, which is a tax credit that can be claimed on the quarterly payroll tax reports. Since its inception, additional laws have modified the qualifications, and it is now quite a complex area. Because it
- [Are Your Employees “Quiet Quitting?”](https://franksabo.com/are-your-employees-quiet-quitting/) - “Quiet quitting” is a very new term in 2022 that refers to one or more employees who remain working, but only do the minimum job during regular work hours. They are done going the extra mile, they are done working overtime, they are likely done caring all that much, and they may also be quite
- [Five Ways to Welcome in a New Year: 2023](https://franksabo.com/five-ways-to-welcome-in-a-new-year-2023/) - A new year is a perfect time for a fresh start for you and your business. Here are five ways to welcome 2023 and make it your best year ever. Decide on a theme for 2023 Setting a theme for the year can help you remember what you want to focus on. Some examples of
- [What Is an Audit? ](https://franksabo.com/what-is-an-audit/) - The word “audit” can be thrown around a lot in casual conversation. When an accounting professional uses it, it means something very specific. We’ll discuss this and other uses of the term “audit” in this article. Financial Audit A financial audit is an official service designed to inspect the accounting records, technology, and processes of
- [Rumors About the IRS](https://franksabo.com/rumors-about-the-irs/) - The IRS has been in the news recently, and there are several rumors floating around on social media that we’d like to set straight. It’s simply NOT true that 87,000 IRS agents with guns will be coming after you any time soon! Here are the real facts. The Inflation Reduction Act signed by the President
- [The Accounts Payable Process](https://franksabo.com/the-accounts-payable-process/) - All businesses, no matter their size, have bills to pay. The larger the business, the more formal the accounts payable process tends to be. That doesn’t mean small business owners can’t benefit from a formal accounts payable process. Too many “fake” bills are being sent, and all businesses should have safeguards in place. Let’s take
- [Understanding Equity on the Partnership Balance Sheet](https://franksabo.com/understanding-equity-on-the-partnership-balance-sheet/) - The equity section of a business’s balance sheet is the most difficult part to understand. The accounts that make up that section vary depending on the type of entity in which the business is structured. In this article, let’s take a look at what the equity section looks like for companies that are organized as
- [Pricing Methods](https://franksabo.com/pricing-methods/) - How do you arrive at a price for the products and services you sell? While it depends on what industry your business is in, there are only a handful of foundational pricing methods that are useful to know. Here are several of them. Time and Materials Pricing Many service-based businesses price based on the time
- [Time Batching](https://franksabo.com/time-batching/) - For small business owners, it seems like there is never enough time to get everything accomplished. One tool that will help you get the most out of your time is time batching, also called time blocking. If you haven’t heard of this before, it can revolutionize the way you approach work. What Is Time Batching?
- [Understanding Equity on the Corporate Balance Sheet](https://franksabo.com/understanding-equity-on-the-corporate-balance-sheet/) - Your favorite number on the balance sheet might just be Cash. It’s easy to understand and something every business has. But there is a more meaningful number, at least in the long-term sense, and that’s equity. Let’s dive deeper into that part of the balance sheet. The Equity Section As a reminder, the balance sheet
- [Cool Tech Tools: ClickUp™](https://franksabo.com/cool-tech-tools-clickup/) - ClickUp™ is a versatile new web application that serves multiple functions for a small business. It’s primarily a CRM – customer relationship management – with project management and workflow features built in, and is adaptable across several industries. ClickUp’s goal for its users is to save time and reduce redundancy by tying everything together in
- [When Your Remote Employee Lives and Works in Another State](https://franksabo.com/when-your-remote-employee-lives-and-works-in-another-state/) - Remote working has exploded in the last few years, especially in professional services. Now that companies are seeing the benefits of remote working, they are also seeing the benefits of an expanded pool of potential employees. Some firms are hiring employees that live several states away from where the office is located, which comes with
- [Is Your Best Skill Aligned with Your Business Model?](https://franksabo.com/is-your-best-skill-aligned-with-your-business-model/) - When starting a business, most entrepreneurs excel at the specific technical skill set they need in order to deliver their services and products to clients. For example, if you own a bike shop, you are pretty great at all things related to bikes. If you own a law firm, you are probably good at practicing
- [Five Subtle Ways to Carve Out More Business Profit](https://franksabo.com/five-subtle-ways-to-carve-out-more-business-profit/) - Whether we’re headed for a recession or not, it’s always a good time to squeak out more profits from your business books. We’re not talking about drastically slashing expenses or spending a lot to raise revenue; the tips in this article are long-term ideas to gently lift up your profits. Timing on Capital Purchases The
- [Unravel Your Competitors’ Secrets with Mystery Shopping](https://franksabo.com/unravel-your-competitors-secrets-with-mystery-shopping/) - Every business has competitors of one sort or another, and in many industries, it’s crucial to know what your competition is offering their customers. The good news is you can often find out what your competition is up to, and this is where mystery shoppers come into play. A mystery shopper is a person who
- [How to Make Accountability Work](https://franksabo.com/how-to-make-accountability-work/) - Almost every successful business owner craves accountability. We’re wired to respond to crises and to help others, sometimes before we help ourselves. Entrepreneurs are excellent in running their day-to-day businesses, but some need more accountability to meet internal deadlines and long-term goals. Let’s take a look at how we can increase our accountability. Setting Goals
- [Should You Get Cybercrime Insurance?](https://franksabo.com/should-you-get-cybercrime-insurance/) - The short answer to this question is YES! Incidents of cybercrime have been problematic for a long time, but have soared exponentially since the start of the pandemic. If the reputation of your firm depends in part on your maintaining confidential client records secure and private, then this insurance is a must. It’s not a
- [ESG and Small Businesses](https://franksabo.com/esg-and-small-businesses/) - Pick up just about any public company’s most recent annual report, and you’ll find a section on ESG. ESG stands for Environment, Social, and Governance, and the trend of not only considering, but also measuring a company’s sustainability performance on ESG issues has become key. A new generation of investors is driving this movement as
- [How a Loan Affects Your Financial Statements](https://franksabo.com/how-a-loan-affects-your-financial-statements/) - Getting your business loan can be an exciting step in the growth of your business. Recording your loan properly in your accounting system usually requires special handling by your accountant. Your loan statement will provide the information you need to get it booked properly. You’ll need the following pieces of information about your loan: Total
- [How to Write a Refund Policy](https://franksabo.com/how-to-write-a-refund-policy/) - A refund policy defines the processes and rules for when customers want their money back and want to return the products or services they purchased from you. It’s often required by your credit card or shopping cart company as part of maintaining PCI (Payment Card Industry) compliance. Plus, it’s just a good, fair business practice
- [How to Keep Your Customers Coming Back](https://franksabo.com/how-to-keep-your-customers-coming-back/) - Measuring and encouraging customer retention is important for businesses in many industries. There are a couple of great measures to see how you are doing in this area. We’ll explain those and provide some tactical tips in this article. Measuring Customer Retention The most common metric to measure customer retention is the customer retention ratio.
- [Why Are You in Business? Crafting Your Mission, Vision, and Values Statements](https://franksabo.com/why-are-you-in-business-crafting-your-mission-vision-and-values-statements/) - Most large businesses have developed mission, vision, and values statements to help guide them and inform stakeholders about the company’s strategic direction. Going through this strategic exercise is a wonderful idea for even the smallest business as well. A company’s mission statement lists its core purpose and desired impact for employees, customers, owners, and other
- [Online Payment Systems: They Are Not All the Same](https://franksabo.com/online-payment-systems-they-are-not-all-the-same/) - Collecting money from customers is a key function in any business, and the more automated this process is, the better. The payment function varies by type of business, but more and more, there are online options available for collecting money over the internet. Here are few tips on what that looks like. Your Website The
- [5 Ways to Rejuvenate, Refresh, and Revive Your Entrepreneurial Passion](https://franksabo.com/5-ways-to-rejuvenate-refresh-and-revive-your-entrepreneurial-passion/) - Most entrepreneurs would agree that owning a business is an incredible privilege, and they would likely never want to go back to working for someone else. However, we all have our days! And sometimes those rough days can turn into weeks. If we’ve temporarily lost a little bit of our entrepreneurial passion, how can we
- [Test Your Financial Resilience](https://franksabo.com/test-your-financial-resilience/) - There’s more to being financially resilient than simply saving enough money for a rainy day. A part of being financially responsible is maintaining good financial records – and making sure people who need access to your records know where to find them if something happens to you. Here are some ideas for your consideration. Communicating
- [Protecting Yourself from Supply Chain Shortages](https://franksabo.com/protecting-yourself-from-supply-chain-shortages/) - The past few years have seen major kinks in the supply chain due to a number of reasons: aberrant buyer behavior, source material scarcity, government shutdowns, and worker shortages, to name a few. What can a business owner do to protect their businesses from shortages and therefore, revenue loss? Let’s take a look at a
- [How Variance Reporting Can Keep Your Profits on Track](https://franksabo.com/how-variance-reporting-can-keep-your-profits-on-track/) - While there are literally hundreds of accounting reports that can help you run your business better, one of the most popular – and greatly underutilized – reports is the variance report. A variance report helps you compare how you are actually doing with either a past or expected performance. It makes it crystal clear how
- [Important Announcement From IRS](https://franksabo.com/important-announcement-from-irs/)
- [Five Ideas to Attract Staff During the Great Resignation](https://franksabo.com/five-ideas-to-attract-staff-during-the-great-resignation/)
- [What’s in Store for 2022?](https://franksabo.com/whats-in-store-for-2022/) - The last few years have been unlike any other in our lifetimes. As we close out 2021 and enter 2022, it’s the perfect time to reflect on what we’ve learned, what’s happening now, and what we want to accomplish in the next 12 months. Here are some things to consider. Celebrate Your Successes Give yourself
- [Understanding Sales Conversion Metrics](https://franksabo.com/understanding-sales-conversion-metrics/) - How effective is your sales function in your business? One way to answer that question at a deep level is to calculate conversion metrics for every step of your sales cycle. These numbers are not tied to any numbers on your balance sheet or income statement, but can help you realize a better return on
- [Time Tracking](https://franksabo.com/time-tracking/)
- [The Power of Thank-You Notes](https://franksabo.com/the-power-of-thank-you-notes/) - As we approach the holiday of giving thanks, it’s the perfect time to think about how we can use thank-you notes in our businesses and lives to express our gratitude to others. When to Say Thank You There are many opportunities in business to say thank you: When a client or associate sends you a
- [Controlling Labor Costs](https://franksabo.com/controlling-labor-costs/) - For service businesses, labor cost is the largest expense that is incurred in business operations. For many other types of businesses, the cost of labor is a large component of overall costs. Controlling labor costs so that they stay in line with what’s best for the organization is an important management function. Here are several
- [The Four-D Time Management Trick to Boost Your Efficiency](https://franksabo.com/the-four-d-time-management-trick-to-boost-your-efficiency/) - Time is our most precious personal resource; once we’ve spent it, we’ll never get it back. As busy entrepreneurs, we seem to have less time than anyone else, so it just makes sense to look for ways to use our time wisely. Here is one technique that has worked for many. The Four D’s When
- [Gearing Up for Holiday Sales: 2021 Trends and Opportunities](https://franksabo.com/gearing-up-for-holiday-sales-2021-trends-and-opportunities/) - The 2021 holiday sales season will give businesses a chance to continue their online migration from 2020 trends, with opportunities for more refinement and improvements. The key is to bring as much as possible online and integrate all of your customer touch points into an omnichannel of positive experiences. Let’s take a look at some
- [Making Customers Pay… You](https://franksabo.com/making-customers-pay-you/) - If you grant credit to customers or take recurring credit card payments, the unexpected can happen: a customer fails to pay on time, the credit card expires, or the check bounces. What can a business owner do to spend as little time as possible on these items but get the cash collected? Plenty. Here are
- [Six Things to Look for Every Month in Your Accounting Reports](https://franksabo.com/six-things-to-look-for-every-month-in-your-accounting-reports/) - While Net Profit and your cash balance are probably the first two numbers you look at on your monthly Profit and Loss Statement, don’t stop there. There are a lot more gems you can glean if you dig a little deeper and look through the following six lenses at your data. Automation Opportunities Look at
- [What Are the Levels of Accounting Skills Available?](https://franksabo.com/what-are-the-levels-of-accounting-skills-available/)
- [Help Wanted: You Have Options!](https://franksabo.com/help-wanted-you-have-options/) - Many people have complained about the worker shortages this year. If you need additional workers in order to grow your business, here are some ideas for your consideration. Where to Look for Workers We may think of workers as only being employees, but there are a lot more options if you’re open-minded. Here’s a list
- [Direct vs. Indirect Costs (and Why You Should Care)](https://franksabo.com/direct-vs-indirect-costs-and-why-you-should-care/) - If you’re a business owner who wants to continually find ways to increase your profitability, then you’ll want to learn about direct and indirect costs. Breaking out your expenses into direct and indirect categories can help you arrive at the most profitable volume of sales for your business. Direct Expenses Expenses that fall into the
- [88 Ways to Safeguard Your Business](https://franksabo.com/88-ways-to-safeguard-your-business/) - Every business organization owns assets that need to be protected from threats. If these assets are not protected, business owners may face losses and an interruption in business operations. One way to be proactive in reducing organizational risk is to implement strong internal controls. The concept of internal control is a foundational principle for accountants.
- [Tax Deadline Extended for SOME but NOT ALL Tax Returns and Payments](https://franksabo.com/tax-deadline-extended-for-some-but-not-all-tax-returns-and-payments/) - The IRS announced a change in the deadline for certain federal tax return and payment due dates. Here is what is extended as of this posting (March 19, 2021): 2020 Individual 1040 returns are now due May 17, 2021 2020 Individual 1040 tax payments are now due May 17, 2021 You can read the announcement
- [Shuttered Venue Operators Grant Program](https://franksabo.com/shuttered-venue-operators-grant-program/) - Finally, the Small Business Administration (SBA) is about to open the application portal for the long-awaited Shuttered Venue Operators Grant (SVOG) Program, which is designed to help entertainment venues and cultural institutions weather the pandemic shut-downs. Background On December 27, 2020, the President signed into law the Consolidated Appropriations Act (CAA), which was the second
- [Why Filing an Extension for Your Taxes Is a Good Thing](https://franksabo.com/why-filing-an-extension-for-your-taxes-is-a-good-thing/) - This year, a record number of tax returns will be put on extension, and yours might be one of them. Having your return go on extension makes some taxpayers fearful and even angry. There are a lot of things to worry about in life, but filing a tax extension is not one of them. Here
- [How Does the Presidential Election Affect Your Taxes?](https://franksabo.com/how-does-the-presidential-election-affect-your-taxes/) - Many clients are asking us about whether their taxes will go up now that there will be a change in Presidents in January. The short answer is no. A US President does NOT have the power to raise or lower taxes. Period. That power is reserved for the legislative branch of the government. Only Congress
- [Tax Changes Affecting Businesses from the American Rescue Plan Act](https://franksabo.com/tax-changes-affecting-businesses-from-the-american-rescue-plan-act/) - The American Rescue Plan Act of 2021 (ARPA) signed into law on March 11, 2021 by President Biden contains numerous tax provisions which may affect the tax situation for your business in 2020 and 2021. We’ll provide a general recap of some of the major changes impacting businesses in this article. Employee Retention Credit The
- [Tax Changes Affecting Individuals from the American Rescue Plan Act of 2021](https://franksabo.com/tax-changes-affecting-individuals-from-the-american-rescue-plan-act-of-2021/) - The American Rescue Plan Act of 2021 (ARPA) signed into law on March 11, 2021 by President Biden contains numerous tax provisions which may affect your taxes in 2020 and 2021. We’ll provide a general recap of some of the major changes in this article. Recovery Rebate The biggest news for taxpayers is a stimulus
- [Does Your Business Qualify for the Employee Retention Credit?](https://franksabo.com/does-your-business-qualify-for-the-employee-retention-credit/) - The Employee Retention Credit is one of the many IRS tax breaks for businesses that was included in the 2020 CARES Act as well as the recent Consolidated Appropriations Act, 2021. The goal of the credit is to provide financial relief to businesses that suffered from the effects of coronavirus but retained their employees. The
- [PPP January 2021 Update](https://franksabo.com/ppp-january-2021-update/) - Qualifying small businesses can now apply for Paycheck Protection Program (PPP) loans through certain lenders. The Small Business Administration (SBA) reopened its PPP portal on January 11, 2021 after Congress passed and the President signed legislation in December 2020, authorizing the continuation of the program and an additional $284 billion in funds. The program allows
- [The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act](https://franksabo.com/the-economic-aid-to-hard-hit-small-businesses-nonprofits-and-venues-act/) - The Consolidated Appropriations Act, 2021 (CAA 2021) became law on December 27, 2020, and among many other things, provided for a second round of potentially forgivable Paycheck Protection Program loans to small businesses that were financially impacted by the effects of the pandemic. The Act not only provides funds and guidelines for a round two
- [A New Round of Stimulus Checks](https://franksabo.com/a-new-round-of-stimulus-checks/) - On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 which included measures for both COVID-19 relief and sweeping funding provisions for the government through September 2021. While there are many sections of this law to explore, this article will focus on the stimulus checks. Qualifying individuals will receive these economic
- [Deductibility of PPP-Related Expenses](https://franksabo.com/deductibility-of-ppp-related-expenses/) - One of the biggest tax issues of 2020 has been clarified with the signing of the Consolidated Appropriations Act, 2021, (CAA 2021), and that was whether expenses that are normally deductible and that were paid with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven are truly deductible. The CARES Act, which
- [Cool Tech Tools: Easy Ways to Create Video Graphics](https://franksabo.com/cool-tech-tools-easy-ways-to-create-video-graphics/) - Video creation has gotten so easy that just about anyone can do it. You no longer need professionals. You don’t even need video editing software with the long learning curve and high price tag. All you need is an app and your imagination. There are many reasons to create a video: Web pages that include
- [How to Better Track Your Carbon Footprint](https://franksabo.com/how-to-better-track-your-carbon-footprint/) - You may already be doing your part to help save the planet. From recycling to driving electric cars, to avoiding the use of plastic bottles and carrying reusable bags to the grocery store, there are myriad ways for all of us to make a difference—both big and small. However, it may be important to stop
- [Five Accounting Reports You Don’t Want to Be Without](https://franksabo.com/five-accounting-reports-you-dont-want-to-be-without/) - While we all have to keep our monthly books up to date for tax and other compliance reporting purposes, we should never stop there. Your books hold a wealth of information that you can use to run your business better. Here are five reports you should never be without. Budget-to-Actual Profit and Loss Statement Hopefully,
- [Re-Imagining Your Chart of Accounts](https://franksabo.com/re-imagining-your-chart-of-accounts/) - The Chart of Accounts is the backbone of your accounting records. It is a list of all of the accounts – bank, loan, asset, revenue, and expense – in your General Ledger, which holds all of your accounting transactions. Think of your Chart of Accounts as a collection of buckets that hold dollars of items
- [Clubhouse: The New Kid in Town](https://franksabo.com/clubhouse-the-new-kid-in-town/) - Are you familiar with Clubhouse? This social media platform is still pretty new, but currently picking up steam. Perhaps one of the easiest ways to describe Clubhouse is like this: When you were a kid, did you ever hold a glass to a wall with your ear glued to it in order to hear the
- [Cool Tech Tools: Airtable](https://franksabo.com/cool-tech-tools-airtable/) - When it comes to running a successful business, how important is it to be organized? In a word: very. Now, how would you rank your organization skills? Honestly, the answer really doesn’t matter. We can always get help from technology, and this is where Airtable comes in. Airtable goes beyond spreadsheet solutions when it comes
- [Financing Options for Small Businesses](https://franksabo.com/financing-options-for-small-businesses/) - All small businesses need cash to operate, and there are many ways to generate the required cash. The most common way that many businesses get started is when the owner makes an investment from their savings or other personal cash. But what if it’s not enough? In this article, we’ll take a look at some
- [What Is Internal Control?](https://franksabo.com/what-is-internal-control/) - In accounting, a key term to know is “internal control.” Internal control is the series of processes and procedures that are performed within the organization to ensure the integrity and accuracy of the financial information and reporting of that organization. Internal control is very important to consider in order to protect the business owners, employees,
- [Getting to the Next Level of Your Business](https://franksabo.com/getting-to-the-next-level-of-your-business/) - Sometimes it’s hard for business owners to know how to take their businesses to the next level of growth and profitability. If you’ve been stuck at the same revenue or profit level for a while, it could be because knowing how to scale your business is not a skill in your skillset --- yet. Enter
- [5 Tips to Spice Up Working from Home](https://franksabo.com/5-tips-to-spice-up-working-from-home/) - We’ve been in a pandemic for what seems like five years now, right? All joking aside, if you’ve been lucky enough to work from home this past year, then it’s possible that you are in the process of going stir-crazy. Or maybe you’re simply ready to shake things up a bit. Working from home has
- [Mix Up Your Revenues for More Profits](https://franksabo.com/mix-up-your-revenues-for-more-profits/) - Many small business owners focus on generating more revenue every year, and that’s a wonderful goal. But not all revenue is created equally since some items are more profitable than others. If you sell more than one product or service in your business, then you may benefit from looking at your revenue mix. While it’s
- [Managing Customer Service with Technology](https://franksabo.com/managing-customer-service-with-technology/) - Do you have a lot of customer service inquiries in your business? If so, it can be a challenge to manage them all. Being responsive with customer service can make all the difference in your company’s success, so it makes sense to take a look at some tools that can streamline the process. The most
- [Fighting Cybersecurity Threats in Your Business](https://franksabo.com/fighting-cybersecurity-threats-in-your-business/) - If you keep any kind of digital information in your business, you have a chance of becoming a victim of a cybercrime. The odds have increased exponentially during the pandemic, with more cyberthreats and scams floating around than ever before. Here are some ways to reduce your chances of getting attacked. Social Engineering Social engineering
- [The Concept of Independence in Accounting](https://franksabo.com/the-concept-of-independence-in-accounting/) - Independence is a key concept in accounting, especially in the assurance or auditing area of accounting. Assurance services are services where a licensed CPA reviews an organization’s financial statements and accounting records and provides an opinion about them. This opinion takes the form of a report that can be shared with third parties such as
- [Ten Places to Look to Find More Profits](https://franksabo.com/ten-places-to-look-to-find-more-profits/) - A great way to start 2021 is to take a fresh look at your business finances. Many things changed in 2020, and if you are in the habit of spending on the same items year after year, it’s the perfect time to decide what is essential and what can go. There are only a few
- [Should Your Business Become Cash-Free?](https://franksabo.com/should-your-business-become-cash-free/) - A cashless business is one that processes all cash transactions electronically. There is no paper or coin money taken or handled. While no one society has become 100 percent cashless yet, most organizations are moving in that direction. A business can become cash-free by providing multiple electronic alternatives to payment. Credit cards are the most
- [Wrapping Up 2020](https://franksabo.com/wrapping-up-2020-2/) - Year-end is the perfect time to reflect on accomplishments achieved since January. It’s also an important time to put things into perspective as we turn the page and start a new year. What We Learned With so much change in 2020, the opportunities to learn have been abundant. Take a moment and contemplate the following:
- [The Power of Listening](https://franksabo.com/the-power-of-listening/) - Now, more than ever before, the act of listening is important. Not only is it important to listen to someone, but to effectively listen to them. Sure, we all know that in order to understand individuals, to connect with them and understand their wants and needs, we need to be alert, focused, and mindful. After
- [The Personal Financial Satisfaction Index (PFSi)](https://franksabo.com/the-personal-financial-satisfaction-index-pfsi-2/) - How happy are you with your financial situation right now? In other words, do you feel personal financial pleasure or pain when it comes to your financial standing? That is what the Personal Financial Satisfaction Index strives to measure for the typical American. The PFSi is a quarterly economic indicator created by the American Institute
- [Being Grateful in a Less-Than-Awesome Year](https://franksabo.com/being-grateful-in-a-less-than-awesome-year-2/) - It goes without saying that 2020 has been quite the year—and it’s not even over yet! Of course, any one of us could easily come up with a long list of things to be ungrateful for, a negative list of every bad occurrence that has taken place since March due to the Coronavirus pandemic. In
- [The Importance of Customer Communication](https://franksabo.com/the-importance-of-customer-communication-2/) - Regardless of the type of relationship—personal, professional, or even acquaintance—communication is key. Specifically, if you want to have a healthy relationship with any individual, then it’s important to communicate clearly and fully. Communication is particularly necessary when it comes to customers and building a successful business. It’s even more important this year since many businesses
- [The 13-Week Cash Flow Forecast](https://franksabo.com/the-13-week-cash-flow-forecast/) - One of the best tools to forecast cash requirements is the 13-week cash flow forecast. It can help a business owner predict what their cash balance will be 13 weeks in the future. It helps to answer whether there will be enough cash to cover payroll and bills for a particular week. If you’re having
- [Building a Continuity Plan for Your Business](https://franksabo.com/building-a-continuity-plan-for-your-business/) - At the beginning of 2020, you might have thought that developing a business continuity plan was not a top priority. Or maybe you thought it was only for large businesses. Fast forward to today, and a business continuity plan has become an essential staple in business planning. There are more business risks than ever before
- [What to Do When an Employee Is Terminated](https://franksabo.com/what-to-do-when-an-employee-is-terminated/) - Every company should have a strict process to follow when an employee leaves the company, no matter what type of termination it is – voluntary or involuntary. Here’s a checklist you can use to compare to your own process so that you can either confirm you’re on the right track or add some ideas to
- [Six Fun Ideas to Bring into Your Marketing](https://franksabo.com/six-fun-ideas-to-bring-into-your-marketing/) - The purpose of marketing is, in part, about creating relationships with customers and prospects. While traditional advertising is a standard way of letting prospects know more about you, it’s not always the most creative way to connect. To spice up your marketing, let’s explore six unusual ways to connect with customers. 1. Celebrate an obscure
- [Watch Out for These Five Common Accounts Payable Errors](https://franksabo.com/watch-out-for-these-five-common-accounts-payable-errors/) - Paying bills is never fun, but paying bills you shouldn’t pay in the first place is even worse. There are many risks that can part a small business owner with their hard-earned cash, and here are five to watch out for when it comes to your bill-paying process. 1. Fraudulent invoices Some companies will send
- [Five Expenses to Cut During Tough Times](https://franksabo.com/five-expenses-to-cut-during-tough-times/) - If revenue hasn’t come back as fast as you expected it to, it may be time to review your budget and determine if some planned expenses can be cut. Here are five places to look to do just that. 1. Travel Since most events have been moved online or cancelled altogether, you can likely redirect
- [How to Reduce Stress Around Money](https://franksabo.com/how-to-reduce-stress-around-money/) - Many families and small business owners have seen decreases in income over the last several months. Money struggles can cause us to experience stress and worry, and none of us need that right now. Instead we need to boost our immune systems and decrease stress. Here are some tips on how we can take back
- [3 Essential Metrics for a Smarter Marketing Spend](https://franksabo.com/3-essential-metrics-for-a-smarter-marketing-spend/) - The only way to get smarter about how to invest your marketing dollars is to document and measure what’s happening now in your business. What you’ve measured, you can then improve. Marketing Spend The first step to measuring what you spend on marketing is to aggregate all of the costs. They may be in one

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- [Home](https://franksabo.com/) - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Rates 2023](https://franksabo.com/tax-rates-2023/) - Tax Rates 2023 - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
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- [How to Fix Your IRS Problem](https://franksabo.com/how-to-fix-your-irs-problem/) - How to Fix Your IRS Problem - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Rates 2022](https://franksabo.com/tax-rates-2022/) - Tax Rates 2022 - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
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- [Welcome](https://franksabo.com/welcome/) - Welcome - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Wholesalers and Distributors](https://franksabo.com/industries/wholesalers-distributors/) - Wholesalers and Distributors - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and Wholesalers and Distributors businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
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- [Construction](https://franksabo.com/industries/construction/) - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and Construction businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
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- [Cash Flow Forecast Services](https://franksabo.com/cash-flow-forecast/) - Sabo CPA, P.C. provides Cash Flow Forecast Services, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Bookkeeping](https://franksabo.com/services-page/bookkeeping/) - Sabo CPA, P.C. provides Bookkeeping, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [PPP Loan Forgiveness Assistance](https://franksabo.com/ppp-loan-forgiveness-assistance/) - Sabo CPA, P.C. provides PPP Loan Forgiveness Assistance, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Accounting Services](https://franksabo.com/services-page/accounting-services/) - Sabo CPA, P.C. provides Accounting Services, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Preparation and Planning](https://franksabo.com/services-page/taxes/) - Sabo CPA, P.C. providesTax Preparation and Planning before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [When Your Spouse Owes the IRS](https://franksabo.com/when-your-spouse-owes-the-irs/) - When Your Spouse Owes the IRS - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Behind on Payroll Taxes](https://franksabo.com/behind-on-payroll-taxes/) - Sabo CPA, P.C. provides Behind on Payroll Taxes help, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Owing the IRS Money](https://franksabo.com/owing-the-irs-money/) - Sabo CPA, P.C. provides Owing the IRS Money, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Filing Prior Years Returns](https://franksabo.com/filing-prior-years-returns/) - Sabo CPA, P.C. provides Filing Prior Years Returns help, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Help with Your IRS Audit](https://franksabo.com/help-with-your-irs-audit/) - Sabo CPA, P.C. provides Help with Your IRS Audit, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Resolution](https://franksabo.com/services-page/tax-resolution/) - Sabo CPA, P.C. provides Tax Resolution, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
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- [About the Firm](https://franksabo.com/about-the-firm/) - About the Firm - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [IRS Tax Problems](https://franksabo.com/irs-tax-problems/) - Sabo CPA, P.C. provides IRS Tax Problems, tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Industries](https://franksabo.com/industries/) - Industries - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to Industries in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Rates 2021](https://franksabo.com/tax-rates-2021/) - Tax Rates 2021 - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [2019 Tax Rates](https://franksabo.com/2019-tax-rates/) - 2019 Tax Rates - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Rates 2019](https://franksabo.com/tax-rates-2019/) - Tax Rates 2019 - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Tax Rates 2020](https://franksabo.com/tax-rates-2020/) - Tax Rates 2020 - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Thank you](https://franksabo.com/thank-you/) - Thank you - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.
- [Glossary of Accounting Terms](https://franksabo.com/glossary-of-accounting-terms/) - Glossary of Accounting Terms - Sabo CPA, P.C. provides tax representation before the IRS and state agencies, tax preparation, tax-focused advisory, divorce-related financial advisory, and accounting services to individuals and businesses in Hingham, MA, eastern Massachusetts, and the greater New England region.