Profit Potential Consulting

Profit Potential Consulting Turn numbers into growth! Profit Potential Consulting helps businesses thrive with bookkeeping & CFO services. Message or email to schedule your free consult.

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Wishing all the students a fantastic start to the new school year!
09/02/2026

Wishing all the students a fantastic start to the new school year!

We’re almost through Q3 and heading into the final months of 2026, so now is the time to focus on your year end goals an...
09/01/2026

We’re almost through Q3 and heading into the final months of 2026, so now is the time to focus on your year end goals and prepare for upcoming deadlines.

This month, take time to:

- Review your August numbers
- Get your books up to date
- Review your year end revenue and profit goals
- Check your cash flow
- Start looking for a bookkeeper and tax accountant now
- Plan for year-end deadlines

What’s one business goal you’re working toward this September?

Here's a quick comparison:Standard mileage:- Deduct a set IRS rate for each business mile driven.- Simpler recordkeeping...
08/31/2026

Here's a quick comparison:

Standard mileage:

- Deduct a set IRS rate for each business mile driven.
- Simpler recordkeeping.
- Best if you don't have many vehicle expenses.

Actual expenses:

- Deduct the business portion of actual vehicle costs like gas, insurance, repairs, maintenance, registration, and depreciation.
- Requires detailed records and receipts.
- May result in a larger deduction for some businesses.

Have questions about which method may be right for your business? Drop them in the comments below.

Save this post for later and follow for more practical tax, and business finance tips.

Before you expand, ask yourself:- Can I afford the additional monthly expenses?- Do I have enough cash flow to support g...
08/30/2026

Before you expand, ask yourself:

- Can I afford the additional monthly expenses?

- Do I have enough cash flow to support growth?

- Is customer demand consistent?

- Have I reviewed my pricing and profit margins?

- Have I created a budget for the expansion?

- Do I have enough cash reserves?

- Do I have accurate financial reports to make this decision?

Expanding at the right time can fuel growth.

Expanding too soon can put unnecessary pressure on your business.

Save this post for when you're planning your next stage of growth, and follow for more practical CFO, bookkeeping, and business finance tips.

Which one gives you the most trouble?Share your answer in the comments!
08/29/2026

Which one gives you the most trouble?

Share your answer in the comments!

Tag a fellow business owner who should be following us too!
08/28/2026

Tag a fellow business owner who should be following us too!

What's your best financial tip for other business owners? Share it in the comments below!
08/27/2026

What's your best financial tip for other business owners?

Share it in the comments below!

Happy International Dog Day! Today we're celebrating our loyal companions and best friends.Drop a photo of your dog or s...
08/26/2026

Happy International Dog Day!

Today we're celebrating our loyal companions and best friends.

Drop a photo of your dog or share their name in the comments below!

We'll go first.....there were more hours in the day. Your turn! Finish the sentence in the comments below.
08/25/2026

We'll go first...
..there were more hours in the day.

Your turn! Finish the sentence in the comments below.

If you use your cell phone and internet for business, you may be able to deduct the business-use portion of those expens...
08/24/2026

If you use your cell phone and internet for business, you may be able to deduct the business-use portion of those expenses.

Here's what to keep in mind:

- Only the business-use percentage is generally deductible.

- Keep copies of your monthly phone and internet bills.

- Use a reasonable method to calculate your business use.

- Keep records showing how your phone and internet are used for business.

- Review your deduction each year if your business use changes.

Need help staying tax ready all year? Book a consultation or comment "tax" below to learn more about our services.

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