Think beyond the big binder operations manual – creating an interactive knowledge base for employees and clients can be profitable in many ways From the South Carolina Association for CPAs There are several important reasons why every CPA firm should create its own operations manual. Among their essential functions, the first is that it compiles […]
Your Firm Operations Guide: The Next Generation Read More »
By understanding how potential clients define value, you can steadily target your audience growth strategies From South Carolina CPA ReportSC Association for CPAs Because I travel to so many financial conferences and serve on an assortment of professional committees, I’m fortunate to talk to a lot of CPA firm owners. One common challenge I hear
Know, Like and Trust These Digital Marketing Metrics for CPAs Read More »
Many small to mid-size marketing agencies struggle with reasonable compensation — not only for their employees but for themselves as well. If your agency is taxed as an S-Corp, the IRS says you must pay yourself a “reasonable compensation”. The lower your salary is, the less employment taxes you will pay. Therefore, the incentive for
Why marketing agencies should pay attention to reasonable salaries Read More »
Chris Hervochon, CPA, CVA has been selected as one of the 2019 “40 Under 40” in the Accounting Profession by CPA Practice Advisor magazine.
CPA Practice Advisor Magazine Names Chris Hervochon Among “40 under 40” Read More »
Yes, I understand “dumpster fire” is an overused term in pop culture. Honestly, the title allows me to use my favorite gif of all time, so I’m going with it. In this post, I am going to discuss some of the top accounting issues for creative and advertising agencies. This post was preempted by a
Is your agency’s accounting a dumpster fire? Read More »
What are the most common mistakes or “traps” agency owners fall into over time? Bad habits to avoid and positive alternatives? In other words, what are some marketing agency bad accounting and finance habits to avoid? The above is a question I received in a Facebook Group for marketing professionals earlier this week, and it’s
3 Bad Habits For Marketing & Creative Agencies to Avoid Read More »
Data-Driven Leadership Program FROM AICPA Certificates Programs A profession in transition I consider myself to be a data-focused accountant. I’ve taken data science classes throughout my career and I’ve always been interested in automation, data analytics and building dashboards. I certainly see the value in data collection and analysis, and where that can go in
AICPA Certificates Wall of Fame: Chris Hervochon Read More »
Increasing profits should be a primary financial concern for all businesses, including marketing agencies. According to industry benchmarking data, marketing agency averages a net profit margin somewhere between 6.0% and 12.0%, which means there’s plenty of room for growth. For the agencies we work with, generally the bogey is a 15.0% net margin. No agency
A Guide to Agency Margins: What They Are and How to Increase Them Read More »
Accounting often falls on the backburner of the many tasks it takes to operate a marketing agency. Here are 7 accounting mistakes that can affect profitability.
Top 7 Mistakes Marketing Agencies Make With Their Accounting Read More »
Here are five important takeaways from the American Institute of Certified Public Accountants (AICPA) ENGAGE Conference to help your business succeed.
My Top 5 Takeaways from AICPA ENGAGE Read More »