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TFO Blog

Accounting, Sales, Taxation and Advice

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Could I Get an Interpreter Here?

Do you ever feel like you’ve been to a foreign country when you leave your CPA’s office? I mean, really, they seem to speak in an altogether different language. It’s like you need an English-to-CPA dictionary. Or at least a...

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What’s Mine is Mine and What’s Yours is Mine

OPM. Other people’s money. In the world of investments that’s usually how an enterprise gets funded.  The days of banks being the leading (or only) source for loans and funds for investing have been waning for quite some time. Have...

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Welcome to the Hotel Cali-Texas…

Out of sight, out of mind, right? Used to be, the boss could call an all-hands meeting in the company cafeteria and look everyone in the eye and interact. Well, in the age of COVID, having off-site employees might mean...

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Demystifying that Five-Letter Word: “Audit”

The very utterance of the word makes even seasoned businesspeople cringe and cower in fear. “Audit? Why do we need to do an audit?” OK, before you go into hiding and crawl into the fetal position in a corner, let’s...

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“First you take two from four…”*

We all know two times two is four.  Is there ever a time when it isn’t? Maybe when you’re selling online? If you think business is business is business, look again.  Brick-and-mortar businesses operate differently than online, virtual stores or...

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When You Need The Whole Pie But Can Only Afford A Single Slice

“I can’t afford it,” are some very dreaded words.  But we aren’t talking about a new car or special outfit here, or even a gourmet pie.  This is about your company’s finances. What do you do when you can’t afford...

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Chain, chain, chain…chain of command

Or, why you need to seek approval to get things done inside an organization. Now, don’t get defensive and listen to Aretha and call it a “Chain of Fools!” Really.  It’s not about giving up anything.  Actually, it is about...

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You Used to Write in Them, Now They are Important to Your Business

Margins, that is.  Sure, they are the white space on a printed page around the text. But more importantly, they are the best way to measure profitability in your company. You really need to be aware of your margins.  It...

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“I Gotsta Get Paid”

ZZ Top said it best and it continues to be a major theme in business.  If you provide goods and/or services, you need to be paid for them. These days there are more ways to be paid beyond cash and...

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“I’m not an accountant, but I play one in my company!” Or how to choose the right accounting software for your business.

Someone has to keep track of the “numbers” at your company and it looks like it is you! Where does one start when it comes to choosing and then implementing an accounting and bookkeeping software package? With so many options...

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“We’re bonafide…”

Actually certified.  Quickbooks Certified, to be specific. What does that mean? With Quickbooks becoming pretty much the standard accounting software for small- and medium-sized businesses, it pays to be trained in the methods and techniques of how to run and...

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Reconciliation is the Start of the Healing Process Between You and Your Money

Want to know where your money has been, where it is going and what it’s been up to? It’s time to reconcile with it. Or at least your bank statement. All kidding aside, reconciling your bank statement is critical to...

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