here’s what you’re looking for: edward mendlowitz

advisory & consulting

what’s more profitable, raising or lowering prices?

woman working on calculator in front of two computer monitorsspecific examples aiming at 30%, 40% profit.

by ed mendlowitz
77 ways to wow!

there is always a conflict in trying to determine whether prices should be increased to make more money or decreased to create a greater demand so the business could make more money.

more: three ways to run a break-even analysis | the top 11 financial statement ratios | eight ways to value a family-owned business | are you ready for a co-owner to drop dead? | simple controls can prevent fraud | charity directors must take theft seriously
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this can be calculated using simple arithmetic based on the break-even analysis model and applying it to a guess of how your customers would react versus the potential to gain added business.
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advisory & consulting

three ways to run a break-even analysis

woman working on calculator in front of two computer monitorshow to tell what the profit should be.

by ed mendlowitz
77 ways to wow!

break-even analysis is a budgetary process designed to tell you how much sales are needed to break even, and how much you will make or lose if you exceed or fall short of this “break-even” sales amount. properly used, it can become a very potent tool.

more: the top 11 financial statement ratios | insurance you might not know you need | solos need plans for death, disability | you don’t need this, but your survivors do | five ways to ward off fraud in not-for-profits | client hires new manager: you need a plan | anatomy of a fraud
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in a break-even analysis, all costs and expenses must be separated into “fixed” and “variable” categories. designations such as “costs of goods sold,” “selling” or “general and administrative” are irrelevant.
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special

seven benefits of tax comparison schedules

so many people can learn from them.

by ed mendlowitz
how to review tax returns: the field-tested update

tax comparison schedules or worksheets are a very effective tool to use to review returns. they provide an easy-to-view comparison with the prior year and most show the year-to-year differences. they are part of every tax preparation software program.

more: nine methods to reduce tax review time | the last thing a tax reviewer does | what makes an excellent tax return reviewer | 10 errors that ‘smart’ scanners make | the best way to review a tax return | why you can’t skip checklists | how to turn tax returns into new business

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most comparison schedules show the major categories of income, deductions, tax breakdowns and balances due or to be refunded. i suggest that reviewing the schedules or worksheets should be a first step to get a handle on the return, the large items, significant differences and the net bottom line effect.
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advisory & consulting

the top 11 financial statement ratios

businesswoman using calculator while reviewing something on laptop screenand why the quick ratio isn’t valid.

by ed mendlowitz
77 ways to wow!

ratios are tools used to evaluate a company’s financial statements.

more: insurance you might not know you need | price not always the top consideration in a sale | when an owner dies without a buy-sell agreement | due diligence is in the details | manage better with the right financial tools | do you need a forensic professional?
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here are some of the more commonly used ratios.

1. working capital ratio

current assets ÷ current liabilities
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special

nine methods to reduce tax review time

scale with coins on one side, alarm clock on the otherit’s not too late to start.

by ed mendlowitz
how to review tax returns: the field-tested update

to have a successful tax season, care and effort must be spent to reduce the review time while maintaining quality.

more: the last thing a tax reviewer does | judge reviewers by how tax preparers improve | ‘quick and dirty’ tax review | three ways to improve tax returns | don’t use eyes, use brain | three types of tax return reviews | tax review procedures are your quality control
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the reviewer’s time is the main element that needs to be managed and reduced.
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advisory & consulting

insurance you might not know you need

young man under rain-covered umbrellathese are often overlooked.

by ed mendlowitz
77 ways to wow!

the following are brief descriptions of insurance coverage not usually obtained or obtained in inadequate amounts. insufficient insurance can expose you to serious losses and could also jeopardize your future financial comfort and security.

more: price not always the top consideration in a sale | eight ways to value a family-owned business | are you ready for a co-owner to drop dead? | simple controls can prevent fraud | charity directors must take theft seriously | forensic techniques can be fraud deterrence | the hazards of poor internal controls | rule #1: start with cash
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

note that i am not covering all types of insurance and this guide’s purpose is to alert you to the importance of the right insurance protection. some of this coverage can be as riders to existing policies.
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special

the last thing a tax reviewer does

whose error is it this late in the game?

by ed mendlowitz
how to review tax returns: the field-tested update

the reviewer needs to conduct their own top-side review before the return gets passed on to be printed (either paper, digital or pdf) and assembled to be sent to the partner to sign and be released to the client.

more: tax reviewers can advance, with a push | what makes an excellent tax return reviewer | 10 errors that ‘smart’ scanners make | tax: the procedural checklists your firm needs | the best way to review a tax return | why you can’t skip checklists | how to turn tax returns into new business
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the partner will do their own top-side review before signing it – so why shouldn’t the reviewer do it first to catch any error that might have slipped through?
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special

price not always the top consideration in a sale

what does the owner really want?

by ed mendlowitz
77 ways to wow!

a friend just sold his business and retired. the price he received was not a life-changing sum, but the future time he gained was priceless.

more: eight ways to value a family-owned business | solos need plans for death, disability | five ways to ward off fraud in not-for-profits | client hires new manager: you need a plan | anatomy of a fraud | how to explain internal controls to clients | the priorities were backward | how to read a financial statement | 77 thoughts about client needs
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

people who own a business make their livings from it while also accumulating savings for their sunset days. many work until they drop. some have foresight to leave earlier. some don’t contemplate ever retiring, but a health scare delivers a reminder of their mortality and then they decide that life is more than just working. after all, the purpose of working is to make a living. when wealth is secure, why continue working?
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