Last November Chicago Score hosted a seminar titled “The Top Five Accounting Issues That Cause Small Businesses to Fail”. This seminar was presented by myself as Founder of CFO 4 Small Biz, and E. Pete Lewis, of Lewis & Associates Tax Planning Inc. In this blog I will provide an overview of the content of the seminar. I covered the operational accounting issues while Pete covered the tax related issues. Pete’s firm specializes in tax planning strategies.
We defined the top five issues as follows:
- Business Formation Issues
- Cash Liquidity Issues
- Failure to use Financial & Tax Information to Maximize Profits
- Pricing and Margin Issues
- Tax Issues Often Overlooked
In the first failure Continue reading