John F. Dennehy Jr., CPA, PC

Small Business

1099 vs W2 Employees: Simple Guide for Small Business

We get it: trying to decipher the differences between 1099 vs W2 employees for small businesses can be confusing. However, it’s critical you have at least a basic understanding of how to classify different workers.  Even if you use an accountant or a payroll service to manage your payroll, it behooves you to understand the relationship. […]

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Cash Flow

Balancing the Advantages and Disadvantages of Cash Flow Forecasting

In life, everything must be balanced; and the advantages and disadvantages of cash flow forecasting are no different. Cash flow forecasting is the process of estimating the future financial position of your company. As a core component of planning and financial management, cash flow is a powerful business KPI primarily based on your projected receivables […]

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Small Businesses

7 Highly-Effective Year-End Checklist Items for Small Businesses

As a small business owner, the end of the year isn’t just a time where you can croon Auld Lang Syne over Champagne! Instead, there are seemingly countless things you must do, which is why having a year-end checklist for small businesses makes dollars and sense.  At John F. Dennehy CPA, we completely understand there are […]

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Small Business

Top Small Business Budgeting Tips Every Business Owner Should Use

If you’re a business owner, you have a lot on your plate and utilizing the best small business budgeting tips may not be at the top of the pecking order. However, it should be! Your ability to develop a small business budget is critical to virtually everything you do. Let’s take a look at a […]

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Considerations for Creating a Small Business Audit Checklist for the IRS

When most people hear the word “audit,” red flags go up; and their minds automatically jump to the dreaded Internal Revenue (IRS) audit. Yes, the IRS is a type of audit, but it’s not the only audit you should be prepared face.  Many businesses, especially larger ones, regularly conduct internal audits to make sure their books […]

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Why Should Startups Know How to Forecast Revenue for a New Business

Whatever your short-term and/or long-term goals, every startup business needs to know how to forecast revenue for a new business. Financial forecasting will help you have a clearer picture of the steps you should take today to help your business achieve its goals. At the same time, if you ever need more funding, your financial […]

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Small Business

5 Small Business KPIs to Determine the Health of Your Business

As a business owner, you have no shortage of tasks and responsibilities vying for your attention, so it’s critical you know which small business KPIs (key performance indicators) are the most impactful. The right small business KPIs will help you determine if you’re dedicating too much time, effort, and money on something that doesn’t offer […]

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Bookkeeping Mistakes

Beware Don’t Make These Common Bookkeeping Mistakes

Common bookkeeping mistakes can easily drive business owners crazy! Similar to common tax mistakes for small businesses, bookkeeping mistakes can be expensive and have long-running implications. Instead of falling victim and dealing with the ramifications, the experienced accounting experts at John F. Dennehy CPA have you covered! We are a team of professional accounting specialists […]

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Prepare for Next Year’s Taxes

4 Simple Tips to Prepare for Next Year’s Taxes

Savvy business owners understand tax season is a year-round event; and as soon as the tax deadline passes, they’re able to shift their focus more toward preparing for next year’s taxes. Failure to prepare for next year’s taxes early often results in you paying Uncle Sam way more than you should.  However, when you proactively […]

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Common Tax Mistakes

5 Expensive Common Tax Mistakes for Small Businesses

While few businesses enjoy doing taxes, making common tax mistakes can turn an already painstaking process into a nightmare. In either case, your business is your livelihood, and you’ve worked tirelessly to put best practices in place to ensure your success. Because you wear so many hats each and every day, the chances of you […]

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