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.
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 …
This time last year, I decided to shake up my marketing agency. I had just returned from HubSpot’s INBOUND 18 marketing conference. I spent four days attending tactical break-out sessions on how to better run my agency and listening to inspirational celebrity speakers. The four-day think tank occurs in September every year in Boston, where …
Takeaways from HubSpot’s INBOUND 2019 conference 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 »
Increasing profits should be a primary financial concern for all businesses, including marketing agencies. A marketing agency averages a net profit margin somewhere between 6.0% and 12.0%, which means there’s plenty of room for growth. No agency is powerless to overcome poor margins. That’s an area where a CPA like me can help. Consider several …
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.
Here are five important takeaways from the American Institute of Certified Public Accountants (AICPA) ENGAGE Conference to help your business succeed.
Marketing agencies often struggle with better managing working capital. This affects liquidity, operational efficiency and short-term finances.
Small business owners are always looking to save money on their tax bill, and marketing agency owners are no exception. One of the most common questions marketing agency clients ask, and that are often posed online is: “Can marketers take advantage of the QBI deduction?” The specifics of the QBI portion of the new tax …
Can Marketing Agency Owners Take Advantage of the QBI Deduction? Read More »
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