Running a restaurant means juggling inventory, expenses, and daily operations—often single-handedly. Even small oversights, like a missed price change or unnoticed waste, can compound into serious financial setbacks that eat away at your profits.
Larger restaurant operations face the same risk. Despite having systems in place, accurate tracking of material costs is critical. With prices fluctuating weekly, failing to adjust in real time can quickly erode your margins and turn expected earnings into unexpected losses.
Understanding plate costing is crucial to a restaurant’s profitability. It includes not just ingredient prices, but also labor, overhead, and your target profit margin. Yet many restaurant owners struggle to calculate it correctly—leading to prices that don’t reflect the true cost of doing business.
Properly setting and regularly reviewing your plate costs ensures long-term sustainability. Overlooking even a small cost can snowball into lost profits. With rising expenses and tight margins, getting your numbers right isn’t optional—it’s essential.
Owning a restaurant—especially as a small or starting business—often leads to miscalculated costs. Many owners rely on ballpark estimates for ingredients and quantities, which can result in inaccurate plate costing and poor inventory tracking.
To make matters more challenging, ingredient prices fluctuate frequently. If you don’t adjust your pricing to reflect these changes, your profit margins can shrink fast—turning what should be earnings into financial losses.
Setting up a Point of Sale (POS) system does more than just track daily transactions—it can also help manage inventory and optimize plate costing. By analyzing best-selling and underperforming dishes, a POS system allows restaurant owners to proportion costs more effectively across the menu, improving both pricing accuracy and profitability.
The challenge? Many restaurants underutilize their POS systems. Without leveraging its full features, owners miss out on valuable data insights that could prevent losses and streamline operations.
For restaurant owners—especially those just starting out—optimizing your finances is critical. High foot traffic doesn’t always translate to high profits. Without proper cost controls, inefficiencies and unnoticed profit leaks can quickly drain your business’s resources.
Material, labor, and overhead costs constantly fluctuate due to inflation and market trends. Failing to track and adjust for these changes can throw off your pricing strategy and shrink your margins over time. Accurate, up-to-date costing is key to long-term sustainability.
Confused about bookkeeping? You’re not alone. In this video, CPA Steve Wick answers common bookkeeping questions and explains why it’s more than just tracking receipts. Learn what makes a great bookkeeper and why hiring the right financial expert can make or break your business.
Is bookkeeping different for small businesses compared to large corporations? In this video, discover why the core principles remain the same—but the complexity scales with size.
Learn why it’s critical for small business owners to understand proper bookkeeping early on, and how getting the right guidance can prevent costly mistakes in the future.
Bookkeeping vs. accounting: are they the same? Steven J. Wick, CPA based in Fort Collins, answers this common finance question and highlights the unique roles of bookkeepers and accountants. Discover why understanding the difference is vital for managing your business finances more effectively.
Can hiring an accountant really change your financial future? In this video, hear how one small business owner partnered with Steven J Wick & Associates PC in Fort Collins and grew their income from $22,000 to $170,000 a year. Learn how expert tax strategies, financial literacy, and smart guidance can turn your business around.
When COVID-19 hit, many small businesses struggled to stay open. In this Client Story, Steven J. Wick explains how they helped one client apply for a Colorado PPP loan by assessing their financial position and preparing the necessary documents. Learn how expert help during a crisis can lead to real relief.
Not all accountants are created equal. In this video, Steven J Wick shares how his firm supports small engineering and R&D companies—not just with bookkeeping, but by unlocking tax credits and improving financial outcomes. When your CPA helps secure overlooked savings, they become a key part of your company’s growth story.
New tax laws and credits are changing the game for small businesses. In this video, learn how the Employee Retention Tax Credit—worth up to 70% of each employee’s pay—could impact your bottom line. Steven J Wick & Associates PC explains why a knowledgeable accountant should save you more than they cost.
Every business faces unique challenges—but they all share one truth: cash flow is king. This video dives into how service-based businesses can monitor key financial numbers, manage inventory, and avoid becoming “the bank” for clients. Steven J Wick explains how the right CPA helps you save money, stay organized, and make smarter decisions that drive growth.
What’s it like running a small business in Fort Collins—and how can a local accountant help? In Part One of this series, Steven J Wick of Steven J Wick & Associates PC shares insights on the Fort Collins business climate, the types of clients he serves, and the personalized accounting services his firm offers. From startups to established local businesses, get a firsthand look at how local expertise makes a difference.
Feeling overwhelmed by disorganized finances? In this video, CPA Steve Wick shares how he helped Sally, a manufacturing business owner, overcome common challenges small businesses face when working with accountants. From unclear communication to lack of actionable advice, Steve breaks down the problems—and his process for fixing them. Learn how his Business Development Meetings create a custom action plan to bring structure, growth, and peace of mind to your operations.
What does a CPA really do—and how can they support your small business? In this video, Steven J Wick & Associates PC breaks down the difference between a CPA and a general accountant, and explains the key services a Certified Public Accountant can offer. From tax help and goal setting to audits, management consulting, and investigative accounting, find out how working with a CPA can help your business grow with confidence.
Payroll can be overwhelming for small business owners—but it doesn’t have to be. In this video, Steven J Wick & Associates PC walks you through the payroll process: from tax forms and employee classifications to common payroll mistakes that can lead to costly consequences. Learn why understanding local labor laws and knowing the difference between employees and contractors is crucial.
Doing all the bookkeeping yourself? It doesn’t have to be that way. This video explains the essential services bookkeepers provide—like filing receipts, tracking bank records, and managing expenses—and why outsourcing can free up your time and reduce costly errors. Let Steven J Wick & Associates PC handle the numbers so you can focus on growing your business.
What is bookkeeping—and why does it matter for your Fort Collins business? In this video, CPA Steve Wick of Steven J Wick & Associates, P.C. explains how bookkeeping goes beyond recording sales. It includes billing, accounts payable, payroll, payroll taxes, and more. While business owners can do it themselves, it’s time-consuming and easy to fall behind.
Self-employment can mean many things—but to the IRS and your accountant, there are clear guidelines. In this video, Steve Wick breaks down how to tell if you’re running a business or a hobby, what it means to be an independent contractor or freelancer, and whether you need an EIN. If you’re navigating self-employment and need help with taxes or accounting, Steven J Wick & Associates, PC is here to guide you.
Thinking of starting a business? It’s more than just selling a product or service. In this video, Colorado CPA Steve Wick explains the accounting perspective behind launching a real business—not just a hobby. Learn the importance of separating personal and business finances, choosing the right legal structure (sole prop, partnership, LLC), and what it really takes to sustain profit. Steven J. Wick & Associates, PC can help guide you every step of the way.
Just because you’re self-employed doesn’t mean you have to be a sole proprietor. In this video, CPA Steve Wick breaks down your business structure options in Colorado—including LLCs, partnerships, and corporations. Learn how the right entity can reduce your tax burden and protect your business. If you’re rethinking your setup, choose a CPA who knows how to help self-employed businesses grow.
Confused about how your business structure affects your taxes? This video explains how being a Sole Proprietor or forming an S-Corp changes your tax responsibilities—and opportunities. Fort Collins CPA Steve Wick discusses common deductions, filing forms (like 1120S and K-1), and how to avoid costly mistakes in self-employment tax. If you’re not sure you’re in the right structure, reach out to Steven J Wick & Associates, PC for expert help with taxes and business planning.
Feeling overwhelmed by business taxes? You’re not alone. This video shares practical tips on how to find a reliable CPA tax accountant in Fort Collins—someone who does more than file your taxes, but becomes a long-term partner in your business growth. At Steven J. Wick & Associates, PC, we combine experience, trust, and strategic financial planning to help you take control.
Looking for financial relief through SBA’s EIDL program? In this video, Steven J Wick & Associates PC breaks down everything small business owners in Colorado need to know about the 2021 second round of Economic Injury Disaster Loans (EIDL).
Learn the pros and cons, requirements, and how to prepare documentation like corporate minutes. As a trusted CPA firm in Fort Collins, we can guide you through your EIDL application and explore other SBA loan options that fit your business needs.
Learn how your Fort Collins business could benefit from the 2021 Employee Retention Tax Credit (ERTC). This video covers the newest updates, eligibility requirements, and common questions surrounding the ERTC program. Let Steven J Wick & Associates PC help you navigate the process and get the financial support your business needs.
Is your small business eligible for the second round of the Payroll Protection Program (PPP) Loan? In this video, Fort Collins CPA Steve Wick explains the updated PPP Round 2 requirements, qualifications, and key details—whether or not you received funding in the first round. If you’re unsure about how to apply or what documents you need, Steven J Wick & Associates PC can help guide you through the process.
The Employee Retention Tax Credit (ERC/ERTC) was created to help small businesses recover from the impact of COVID-19. In this video, Fort Collins CPA Steve Wick explains how the credit works in 2022, who qualifies, and how you may still benefit—even if you received a PPP loan.
For construction subcontractors, accounting isn’t just paperwork—it’s the foundation of profitability. In this video, Fort Collins CPA Steve Wick shares insights into how forecasting, tracking expenses, and setting accurate rates help you run a smarter business.
From supply pricing swings to post-COVID budgeting strategies, learn how proper accounting makes the difference.
Even with big projects, your construction business can fall apart without proper financial control. In this video, Fort Collins CPA Steve Wick reveals how smart accounting helped a subcontractor client stabilize their cash flow, improve project execution, and stop relying on loans.
From down payment strategies to fixing internal systems, you’ll see how the right CPA can transform your small construction business.
Cash flow issues can silently destroy your construction business—whether you’re a small subcontractor or managing million-dollar projects. In this video, Fort Collins CPA Steve Wick explains how to stabilize your finances using contracts, retention terms, change orders, and upfront payments.
Learn how proper forecasting and timing can prevent financial shortfalls and protect your business from risk.
Is QuickBooks a good fit for your construction or subcontractor business? It can be—if it’s set up the right way. In this video, CPA Steve Wick explains how QuickBooks can streamline accounting for subcontractors in the construction industry, and why improper setup often leads to costly errors. Don’t let confusion delay your success—let professionals tailor QuickBooks to your needs.
The line between an employee and an independent contractor can be blurry—but getting it wrong in Colorado could lead to audits and fines. In this video, Fort Collins CPA Steve Wick breaks down the key differences, legal considerations, and why it matters for your small business.
QuickBooks can be a powerful tool for construction businesses—if used correctly. This video covers the key features construction companies need, including job costing, payroll, and reporting. Fort Collins CPA Steve Wick shares why having the right accounting system (and a reliable advisor) is critical to avoid costly estimating errors and keep your business on track.
Even skilled subcontractors can hit financial roadblocks. Despite years in the electrical contracting business, he was losing money due to markup miscalculations and poor cash flow planning. In this video, CPA Steve Wick shares how they uncovered hidden issues in Joe’s pricing strategy, QuickBooks setup, and internal processes. Learn what questions a construction-focused CPA will ask to help avoid financial mistakes and spot risks before they become problems.
Is QuickBooks the perfect accounting tool for your subcontractor construction business? Not quite—but it can be a powerful and cost-effective solution when set up correctly. In this video, Fort Collins CPA Steve Wick explains the strengths and limitations of QuickBooks for construction and why even the best software needs adjustments to truly fit your business. With expert guidance, you can avoid costly mistakes and take control of your finances.
Launching a dental practice takes more than clinical skills—it takes sound financial planning. In this video, Fort Collins CPA Steve Wick outlines essential accounting and business strategies for dentists. Learn about cost breakdowns, insurance partnerships, and how to assess the profitability of various treatments. If you’re unsure where to begin, we can help you set a strong foundation.
Financial planning is critical for the long-term success of your dental practice. This video explores how to improve profitability through better business decisions—covering W-2 vs. contractor staffing, insurance and Medicare management, practice management systems, and cost optimization. Fort Collins CPA Steve Wick shares how proper planning can help streamline payroll, improve margins, and unlock growth.
Did you know your dental practice holds “hidden profit gems” just waiting to be uncovered? In this video, CPA Steve Wick of Steven J Wick & Associates PC reveals how a well‑structured chart of accounts and cost‑center segmentation can transform your financial insight. Learn to track revenue by hygienist, associate, and procedure type; distinguish profit centers from overhead; and benchmark your performance against industry standards. With these tools, you’ll pinpoint your most profitable services, set smarter goals, and make real‑time adjustments to boost your bottom line.
Is your optometry business growing—or just getting busier? In this video, Fort Collins CPA Steve Wick breaks down how proper financial planning can steer your practice in the right direction. From employment strategy and client frequency analysis to marketing, insurance handling, and cash flow management—this is a must-watch for optometrists serious about sustainable growth.
Is your optometry practice missing out on valuable tax deductions? In this video, Fort Collins CPA Steve Wick breaks down essential tax planning strategies tailored for optometrists—including how to leverage ADA (Americans with Disabilities Act) compliance for significant tax credits. Whether you’re just starting or looking to improve margins in an established practice, don’t let unclear tax laws limit your growth.
You’ve built your optometry practice, accepted insurance, and started growing—but why does it still feel like you’re stuck? In this video, CPA Steve Wick explains how proper financial strategy can unlock growth. Learn how to analyze earnings per employee, evaluate marketing spend, and choose a patient billing model that works for your goals.
Struggling to grow your optometry business while managing day-to-day operations? You’re not alone. In this video, Fort Collins CPA Steve Wick explains how optometrists can make confident decisions around hiring, payroll, insurance vs. private pay, and tax strategies. Learn how to align your finances with your growth goals—and gain clarity on when (and how) to scale your team.
