Steven J. Wick & Associates, P.C. https://sjwickcpa.com Your Ideal Business Partners Tue, 30 Jul 2019 19:48:54 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 https://sjwickcpa.com/wp-content/uploads/2018/07/favi-logo-75x75.png Steven J. Wick & Associates, P.C. https://sjwickcpa.com 32 32 Find the Right CPA for Your Construction Business https://sjwickcpa.com/find-the-right-cpa-for-your-construction-business/ https://sjwickcpa.com/find-the-right-cpa-for-your-construction-business/#respond Tue, 30 Jul 2019 19:48:48 +0000 https://sjwickcpa.com/?p=2018 If you want your company to thrive, it’s critical that your financials are in good order. As your business grows, make sure that you have a team of dedicated people, overseeing their shares of the operation. One vital part of this team should be an accountant, who can manage your bookkeeping and assist with taxes. […]

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If you want your company to thrive, it’s critical that your financials are in good order. As your business grows, make sure that you have a team of dedicated people, overseeing their shares of the operation. One vital part of this team should be an accountant, who can manage your bookkeeping and assist with taxes. There are thousands of good CPAs out there, so how do you find the one that is a good fit for your unique business

Each industry has its own special rules and regulations, and different daily operations, so it’s always best to find an accountant that specializes in your field. Knowing that you are looking for a construction CPA can help to narrow down the options, and reaching out to a firm or two can make the decision easy. 

You should feel heard and understood by your CPA, as they will become a valued member of your company team. In the construction industry, not only will your accountant run your books and taxes, but they should also be able to help with industry-specific needs. These may include work-in-progress (WIP) reports, overhead allocation, risk management, job estimates, and special insurance or worker’s compensation. A good CPA may also act as a vital contact between your growing business, and banks or loan lenders. 

In essence, your accountant should be experienced working with construction companies, and should have a good sense of the industry as a whole. A qualified construction CPA will allow you to stay ahead of the game, and ensure that all is running smoothly, so you can continue to focus on making your customers happy.

Reach out to us at Steven J. Wick & Associates today, and ask about our experience with accounting in the construction industry!

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Tips for Managing Seasonal Workers https://sjwickcpa.com/tips-for-managing-seasonal-workers/ https://sjwickcpa.com/tips-for-managing-seasonal-workers/#respond Sat, 13 Jul 2019 19:41:48 +0000 https://sjwickcpa.com/?p=2016 For many businesses in industries like landscaping, construction, or retail, having a fluctuating workforce can be a great asset. When demand for your goods or services increases during certain times of the year, you may need to bring aboard temporary help. These seasonal workers can keep your company afloat, but they can be tricky to […]

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For many businesses in industries like landscaping, construction, or retail, having a fluctuating workforce can be a great asset. When demand for your goods or services increases during certain times of the year, you may need to bring aboard temporary help. These seasonal workers can keep your company afloat, but they can be tricky to manage if you’re not careful.

If your business relies on seasonal employees, here are some tips to make the most out of this temporary help:

1. Treat all workers equally

Even if you do not invest as much time or energy into your seasonal workers, it’s important that they feel included and valued, as a part of the team. Happy employees are productive employees, and you don’t want to risk them bringing down company morale. Make sure these individuals are fairly compensated, given access to good shifts, and aren’t separated from the rest of the group.

2. Get their paperwork done

Whether you need them for a few months in the summer, or just a month or two in the holiday season, you still need to document your employees properly. Keep clear, secure records of their employment information, tax documents, and payroll classifications. And don’t put off doing your share of the paperwork- get it done before the rush begins.

3. Be clear on expectations

Whenever you hire a new person, both you and that individual have certain rights and responsibilities. Ensure that you’re on the same page about the job timeline, pay rate, overtime, etc…and if there is potential for long-term employment or not. Also, don’t skimp on their training- this only leads to stressed workers, and thus, unhappy customers. 

Need more tips on how to handle your seasonal small business? Get in touch with us at Steven J. Wick & Associates today.

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Hire a CPA to Help With the Summer Rush https://sjwickcpa.com/hire-a-cpa-to-help-with-the-summer-rush/ https://sjwickcpa.com/hire-a-cpa-to-help-with-the-summer-rush/#respond Fri, 28 Jun 2019 21:17:19 +0000 https://sjwickcpa.com/?p=2013 Summer is a wonderful time in Northern Colorado, when the weather is great and people are out and about. Many industries see the majority of their business during the summer months, like construction and landscaping, and certain pubs and restaurants. When your business is slammed, it can be exciting, but also incredibly stressful. The income […]

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Summer is a wonderful time in Northern Colorado, when the weather is great and people are out and about. Many industries see the majority of their business during the summer months, like construction and landscaping, and certain pubs and restaurants. When your business is slammed, it can be exciting, but also incredibly stressful. The income is great, but sometimes it’s easy to lose track of things, and get behind on routine maintenance like recordkeeping. Thankfully, there are many wonderful business professionals in the area that can help you stay afloat during the summer season.

When you are full up with clients and customers, you should be free to do what you do best- interact with them! You shouldn’t have to spend all your time managing books, sifting through paperwork, or filling out forms; after all, this probably isn’t what made you open your business in the first place. You want to be engaged in projects, investing in new ideas and growth opportunities, and making your customers happy. It can be valuable to bring someone onto your team, to manage the behind-the-scenes things, so you can stay focused on what you truly enjoy.

There are many good reasons to hire a professional accountant, consultant, or CPA for your small business. One benefit they bring is the extra support during your seasonal swings, and the peace of mind they can offer when your phone is ringing off the hook. A qualified accountant can help you stay on top of your finances, payroll, taxes, and much more, so you can continue to grow your business.


Summer is a great time to hire a CPA in Fort Collins, so reach out to us today to learn more!

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4 Ways to Keep Your Records Secure https://sjwickcpa.com/4-ways-to-keep-your-records-secure/ https://sjwickcpa.com/4-ways-to-keep-your-records-secure/#respond Sat, 15 Jun 2019 21:04:55 +0000 https://sjwickcpa.com/?p=2011 In order to keep your business in compliance, and avoid potentially costly mistakes, it’s critical that your records be kept secure. This is especially important when working with clients or patients, like in medical offices, but any type of business, in any industry, can benefit from tighter security. How you handle your client records, financial […]

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In order to keep your business in compliance, and avoid potentially costly mistakes, it’s critical that your records be kept secure. This is especially important when working with clients or patients, like in medical offices, but any type of business, in any industry, can benefit from tighter security. How you handle your client records, financial records, and other vital documents can make or break your long-term success, so don’t brush off the need for file protection!

Here are four ways that you can boost your security and confidentiality of your business records:

1. Go digital

There are many more security options for digital files than there are for analog or paper ones. Consider making the transition to digital records, so you don’t have to worry about your in-person files getting into the wrong hands.

2. Limit access

Generally speaking, not everyone in your company should have access to all the records at all times. Try to limit access to certain files, especially inside financial data, to a small group of qualified people. In larger companies, different departments should only be able to view or edit files within their own team.

3. Keep tabs

Sometimes files are changed, or go missing, and it’s valuable to have a log of who last had access to those files. If you have paper files, keep your cabinets in a secure room with a locked door and a log in/log out sheet. For digital files, there are programs that will track who has logged into certain programs, and when the last edits were made.

4. Hire a third party

If it makes sense for your business, consider hiring an outside company to handle your record keeping security. Some technologies allow for offsite secure storage, private employee networks, and file recovery, which can give you valuable peace of mind.


If you want to learn more about how to keep your records secure, get in touch with us!

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3 Reasons Why You Need Digital Records https://sjwickcpa.com/3-reasons-why-you-need-digital-records/ https://sjwickcpa.com/3-reasons-why-you-need-digital-records/#respond Thu, 30 May 2019 18:39:31 +0000 https://sjwickcpa.com/?p=2008 Even in our current era, with the incredible technology and digital resources at our fingertips, many businesses choose to stay analog. There are certainly advantages to working with paper copies of records and using paper checkbooks, and it’s a matter of comfort to a lot of people, especially older business owners. However, with modern demands, […]

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Even in our current era, with the incredible technology and digital resources at our fingertips, many businesses choose to stay analog. There are certainly advantages to working with paper copies of records and using paper checkbooks, and it’s a matter of comfort to a lot of people, especially older business owners. However, with modern demands, and risks of losses, it might be time to consider going digital with your company’s paperwork. This isn’t to say that you can’t also keep physical copies- it’s simply a matter of backup and peace of mind!

Here are three reasons why you may want to switch to online or digital bookkeeping:

1. Ease of location

With a well-organized digital record system, you can search records with just a few keystrokes. You can pull up paperwork by year, month, client, or any other keyword. This can save massive amounts of time and energy.

2. Loss protection

We can’t always predict what will happen to us or our business, but secure, online records can help us sleep at night. Fire or water damage does happen, as does theft, chemical spills, and other types of loss. Don’t leave your valuable documents vulnerable to these kinds of everyday tragedies- make sure you have online copies and backups.

3. Customer satisfaction

These days, most clients and customers are used to businesses with online records, and they tend to be more comfortable with this system. Most people don’t want their personal or financial information sitting out in an office somewhere, but would rather have it securely stored online. Noting that you use industry-compliant, digital record keeping may be a selling point for your company.


Contact us today if you have questions about bookkeeping for small business!

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Tax Tips for Summer Jobs https://sjwickcpa.com/tax-tips-for-summer-jobs/ https://sjwickcpa.com/tax-tips-for-summer-jobs/#respond Wed, 15 May 2019 18:38:33 +0000 https://sjwickcpa.com/?p=2006 The warm weather has finally arrived, and school is letting out. Businesses across the region are hiring seasonal workers, and many people are picking up extra gigs to get them through the summer. A large percentage of the workforce is seasonal or temporary, and many companies rely on revenue from only one part of the […]

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The warm weather has finally arrived, and school is letting out. Businesses across the region are hiring seasonal workers, and many people are picking up extra gigs to get them through the summer. A large percentage of the workforce is seasonal or temporary, and many companies rely on revenue from only one part of the calendar year. So, what happens when you need to pick up extra work, including freelancing, during the summer months? It can be tricky to know what to do, when it comes to taxes and financial withholdings.

No matter how you slice it, you must report any and all income that you have, no matter the source. Even in the case of bartering, you should still report the fair market value of the goods or services bartered. For example, if you bartered your freelance photography services for free meals at a friend’s restaurant, you will need to report the value of those meals as income on your taxes. If this sounds confusing, don’t worry- a qualified tax professional will be able to help you!

Summer gigs span a huge range of things, from mowing lawns and babysitting, to landscaping and construction projects. It’s important that you keep record of every job that you do, that you earn income for. Even if you aren’t categorized as an employee, or you don’t receive tax paperwork, it’s up to you to stay on top of your records. Don’t assume you’ll remember what you earned over the summer, come tax time next year, or that your clients/bosses/managers will remember either.


Write down your earned income (bartering income included) for your summer gigs, and remember to set aside some of that income to pay taxes. If you’re struggling to calculate your summer odd jobs, reach out to a seasoned accountant for help today.

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Bookkeeping: The Red Flags Your Business Should Watch For https://sjwickcpa.com/bookkeeping-the-red-flags-your-business-should-watch-for/ https://sjwickcpa.com/bookkeeping-the-red-flags-your-business-should-watch-for/#respond Tue, 30 Apr 2019 16:12:04 +0000 https://sjwickcpa.com/?p=2002 When it comes to running any business, ‘doing the books’ or keeping your accounting records up-to-date is an essential part in making the best decisions for your company. So how does one tell if it might be time to evaluate your books? Steven J. Wick, a Fort Collins CPA, financial advisor, and accountant breaks down […]

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When it comes to running any business, ‘doing the books’ or keeping your accounting records up-to-date is an essential part in making the best decisions for your company. So how does one tell if it might be time to evaluate your books? Steven J. Wick, a Fort Collins CPA, financial advisor, and accountant breaks down the red flags you should be watching when managing your bookkeeping.

Deadlines are Being Missed

It’s no secret that deadlines sometimes sneak up on us. If your business is missing various deadlines for important forms and documents, it might be a telltale sign that you need to get your books in order. It becomes difficult to generate reports on a timely basis or locate data when the books are disorganized.

The Business has Overdue Fees

When missing deadlines, fees become inevitable as they are tacked onto your original statement. What is worse is fees can continually be stacked onto existing late payments, making it even more difficult for a business to recover. Having overdue payments and fees devalues the credibility of a business and should be taken as a red flag of poor bookkeeping.

There is No Bookkeeping System in Place

Sometimes the best red flag of poor bookkeeping is not having a system in place at all. For some, a casual system is all that is needed to track cash and bill flow. However, if you are having accounting errors, consider exploring the processes you have in place and know that solutions are available for better management. The staff at Steven J. Wick & Associates services the Fort Collins area and can make sure that your business is not at risk.   

If you are interested in getting help with your bookkeeping, consider the support of Steven J. Wick & Associates. Your certified CPA, financial advisor, and accountant in the Fort Collins area.

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Until Next Year, Tax Season https://sjwickcpa.com/until-next-year-tax-season/ https://sjwickcpa.com/until-next-year-tax-season/#respond Tue, 16 Apr 2019 16:05:57 +0000 https://sjwickcpa.com/?p=2000 They say April showers bring May flowers- and in this case April showers sprung us right out of tax season. For many, the thought of not having to file taxes for another 12 months is reason enough to push the thought out of mind. However, Steven J. Wick, a Fort Collins CPA, financial advisor, and […]

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They say April showers bring May flowers- and in this case April showers sprung us right out of tax season. For many, the thought of not having to file taxes for another 12 months is reason enough to push the thought out of mind. However, Steven J. Wick, a Fort Collins CPA, financial advisor, and accountant is here to help you take a proactive approach so that next year’s looming deadlines, seem much more like achievable tasks.

Organization Makes All the Difference

It’s always much easier said than done. Much of the stress from tax season comes from gathering up necessary documents. Keeping everything in once place can save you some time in the long run. Consider creating a folder for all your important tax documents and receipts. On top of that, labeling your receipts will limit playing the guessing game with your expenses later.

Stay Current with Tax Law Changes

Taxes are always changing on the local, state, and federal level. Do your best to keep up-to-date as tax law changes can directly affect your return, estimates, and even future finances. When in doubt, communication is key. Consult a CPA, financial advisor, and accountant like Steven J. Wick for all your tax inquiries in Fort Collins.

Look Internally at Your Own Practices

Have you ever taken the time to evaluate your own work and practice? There is always room in your day-to-day to improve upon your system and have better efficiencies. Dive into your financial decisions and prioritize what matters most.

By being organized early on, keeping up-to-date with tax law changes, and monitoring your own financial decisions, you are sure to be prepared for the next tax season. Contact Steven J. Wick, a Fort Collins CPA, financial advisor, and accountant for all your accounting needs.

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Beginners Guide to Tax Deductions for Small Businesses https://sjwickcpa.com/beginners-guide-to-tax-deductions-for-small-businesses/ https://sjwickcpa.com/beginners-guide-to-tax-deductions-for-small-businesses/#respond Thu, 28 Mar 2019 18:55:23 +0000 https://sjwickcpa.com/?p=1994 While tax season is rarely anyone’s favorite time of the year, there are some things you can look forward to as a small business owner. When you own a business, you get to take quite a few tax deductions. The list is long, but Steven J. Wick, a Fort Collins CPA, financial advisor, and accountant, […]

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While tax season is rarely anyone’s favorite time of the year, there are some things you can look forward to as a small business owner. When you own a business, you get to take quite a few tax deductions. The list is long, but Steven J. Wick, a Fort Collins CPA, financial advisor, and accountant, can help you navigate the options and find what applies to your business. As with all taxes, it’s very important to document the expense and the reason for it, even if you just write it down on the back of your receipt.

Several of the tax deductions available for small businesses include:

  • Banking fees
  • Car expenses
  • Computers/ tech supplies
  • Eating out while traveling for business
  • Internet hosting/ services
  • Materials
  • Postage
  • And many others!

It is always in your best interest to consult a CPA, financial advisor, or accountant in Fort Collins to make sure you understand all the specifications that come with each small business tax deduction. Not every single deduction will apply to you and your business, and you don’t want to end up getting back less than you were expecting or having to owe money.

When you are interested in seeing just how you can benefit from small business tax deductions, contact Steven J. Wick – a Fort Collins CPA, financial advisor, and accountant.

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Tips to Handle Fluctuations in Your Business https://sjwickcpa.com/tips-to-handle-fluctuations-in-your-business/ https://sjwickcpa.com/tips-to-handle-fluctuations-in-your-business/#respond Sat, 16 Mar 2019 19:12:49 +0000 https://sjwickcpa.com/?p=1997 It is very common to experience seasonality as a business owner when you are outside of your budget. While it is never fun to deal with these types of changes, there are things you can do, with help from a CPA, financial advisor, and accountant in Fort Collins, to plan for slumps and grow when […]

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It is very common to experience seasonality as a business owner when you are outside of your budget. While it is never fun to deal with these types of changes, there are things you can do, with help from a CPA, financial advisor, and accountant in Fort Collins, to plan for slumps and grow when business is thriving.

  1. Stick to your budget: When you are making more than you anticipated, it can be easy to stray from your plan. Keep your spending in sync with your budget to ensure extra cushion when its slow.
  2. Track everything: When you are aware of your spending, it is easier to create a realistic budget. Using tools like QuickBooks or Excel can make it easy to keep track of spending, and hiring a Fort Collins CPA, financial advisor, or accountant can make the process even simpler.
  3. Manage your cash: By establishing a line of credit with your bank, you can pay bills when you’re dealing with a slow season.
  4. Flexibility: With a flexible budget, you can easily prepare for seasonality when it occurs. Planning ahead never hurt anyone, and you’d rather be safe than sorry.

When it comes to your business, having a realistic budget is important. Having a Fort Collins CPA, financial advisor, and accountant perform a financial evaluation of your business would be a wise investment. Set realistic expectations and build a plan to survive seasonality. Contact our team today to learn more.

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