Business Intelligence Resource Center • Chris Hervochon CPA

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Why marketing agencies should pay attention to reasonable salaries

By Chris Hervochon, CPA, CVA | October 7, 2019 | 0 Comments
A hand holds avatars in an illustration to reflect Marketing agencies and reasonable compensation Chris Hervochon CPA

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 …

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CPA Practice Advisor Magazine Names Chris Hervochon Among “40 under 40”

By Chris Hervochon, CPA, CVA | September 27, 2019 | 0 Comments
Chris Hervochon named 40 Under 40 CPA Practice Advisor

Chris Hervochon, CPA, CVA has been selected as one of the 2019 “40 Under 40” in the Accounting Profession by CPA Practice Advisor magazine.

Is your agency’s accounting a dumpster fire?

By Chris Hervochon, CPA, CVA | September 23, 2019 | 1 Comment
Top accounting issues for creative and advertising agencies

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 …

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Takeaways from HubSpot’s INBOUND 2019 conference

By Heather Bragg | September 16, 2019 | Comments Off on Takeaways from HubSpot’s INBOUND 2019 conference
InBound 19 Conference HubSpot

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 …

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3 Bad Habits For Marketing & Creative Agencies to Avoid

By Chris Hervochon, CPA, CVA | September 5, 2019 | Comments Off on 3 Bad Habits For Marketing & Creative Agencies to Avoid
Marketing Agency Bad Financial Habits

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 …

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Marketing Agencies: All About The Margins

By Chris Hervochon, CPA, CVA | August 7, 2019 | Comments Off on Marketing Agencies: All About The Margins
marketing agency profit margin

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 …

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Top 7 Mistakes Marketing Agencies Make With Their Accounting

By Chris Hervochon, CPA, CVA | July 15, 2019 | Comments Off on Top 7 Mistakes Marketing Agencies Make With Their Accounting
Top 7 Accounting Mistakes Marketing Agency Owners Make

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.

My Top 5 Takeaways from AICPA ENGAGE

By Chris Hervochon, CPA, CVA | July 9, 2019 | Comments Off on My Top 5 Takeaways from AICPA ENGAGE
2019 AICPA Engage Conference

Here are five important takeaways from the American Institute of Certified Public Accountants (AICPA) ENGAGE Conference to help your business succeed.

Marketing Agencies and Working Capital: What, Why & How

By Chris Hervochon, CPA, CVA | July 1, 2019 | Comments Off on Marketing Agencies and Working Capital: What, Why & How

Marketing agencies often struggle with better managing working capital. This affects liquidity, operational efficiency and short-term finances.

Can Marketing Agency Owners Take Advantage of the QBI Deduction?

By Chris Hervochon, CPA, CVA | June 24, 2019 | Comments Off on Can Marketing Agency Owners Take Advantage of the QBI Deduction?
How can marketing agencies benefit from QBI

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 …

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