John F. Dennehy Jr., CPA, PC

Category Archives for Accounting Tips

7 Essential Items to Include on the Year End Accounting Checklist

Having a year end accounting checklist and closing procedures is critical to the long term success of your business. It’s important to start the new year with a fresh, clean slate that is correct and organized, so you’ll be poised for success. Whether you have an accountant on staff or use the expertise of an […]

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4 Healthy Accounting Tips for Your Medical Practice

Your primary focus as a physician is patient care, but it makes dollars and sense to pay special attention to accounting for medical practices. In addition to being a physician, you’re also an entrepreneur tasked with running a profitable medical practice.This requires keeping accurate financial records and maintaining tax compliance. for a few […]

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5 Basic but Essential Property Management Accounting Best Practices

Property management accounting can be painful — but it doesn’t have to be. Most new landlords are surprised to learn managing rental properties goes far beyond finding new renters and repairing leaky taps.These business owners must employ sound property management accounting practices to ensure the business runs smoothly and profitably. Failure to pay attention to […]

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7 Easy Attainable Financial Resolutions for the New Year

If you failed to previously achieve your financial resolutions for the New Year, you’re not alone. According to the Journal of Clinical Psychology by the University of Scranton, a mere 8% of people actually achieve their resolutions for the New Year.However, this doesn’t mean you can’t refocus, rehone, and reinvigorate your financial resolutions for the […]

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GAAP Compliance

GAAP Compliance Checklist for Dummies

Attaining GAAP compliance is as simple as 1,2,3 with the simple GAAP compliance checklist. Contact John F. Dennehy Jr. CPA, PC today to get started.Traditionally, achieving GAAP compliance has been a daunting and overwhelming process for businesses. GAAP or the generally accepted accounting principles serve as the standardizing accounting rule book for several businesses across […]

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How to Track Business Expenses

The Simple Fool’s Guide for How to Track Business Expenses

Understanding how to track business expenses is one of the most important facets of accounting and bookkeeping.The premise behind tracking your expenses is simple: the higher number of tax deductions your business can take, the lower your overall taxable profit and tax bill will be. However, in order to qualify for these deductions, you must […]

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tax tips and bookkeeping tips for small businesses

Mastering Accounting with Small Business Bookkeeping Tips

Accounting and bookkeeping can be an arduous and tedious task for any business. However, if your small business doesn’t keep a tight ship in regards to bookkeeping, taxes can be a true nightmare.Without an effective system for your small business, several things can and will fall through the cracks and end up costing you money.The […]

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Why Should I Get My Taxes Done Professionally? Here’s 5 Awesome Reasons

With the proliferation of the Internet and popular tax software options, everyone asks “should I get my taxes done professionally or do them myself?” While painting the back deck may be a great weekend do-it-yourself project, your taxes involve complicated financial and tax codes. As a result, it’s always best to have a tax professional […]

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