While weโve worked more hours than ever before and ripped our hair out as laws keep changing, weโve also provided invaluable service to clients who would otherwise have drowned in the chaos surrounding the pandemic, PPP, ERC, and more. It was crazy, and it wasnโt always fun, but our clients survived and weโre all better for it.
Your Profit & Loss shows your taxable income and deductible expenses, but you also paid down principal on your debt and distributed earnings to yourself as owner, neither of which are expenses. You need to look at your Cash Flow Statement to understand the breakdown between your operating, investing, and financing activities.
โ Gary Haworth
4041 28th Street NW, Suite 200
Rochester, MN 55901
Phone: (507) 288 0090 or
(888) 288 0090
Fax: (507) 288 2467
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We love all of the details and strategies in the world of tax and accounting, but weโre guessing you donโt. Between the tens of thousands of pages of tax law, differing laws by state, and sweeping legislation that rewrites it all, there is a lot small business owners need to keep up to date on. Offload that stress to the experts and go back to running the business youโre passionate about.
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