Author: Rob Hylen

General

A Complete Guide To Management Consulting

What is Management Consulting? Management consultants are individuals who provide services to a business in order to improve its performance, assist in solving existing problems, or help a company better reach its objectives. Consultants have an array of responsibilities which include analyzing the ins and outs of a company, pinpointing

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Services Provided

Financial Forecasting: What You Need To Know

What is Financial Forecasting? Financial forecasting is an approximation of upcoming financial events for a company. Forecasts compile the data on profits, expenses, and losses. This data is used to predict the future of businesses’ expenses and income. Essentially, forecasts are the more data-driven version of the magic 8 ball

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Accounting

Accounting For Your Online Business: What You Need To Know

As online shopping continues to expand and become the main source for many to purchase products and services, online businesses need to track their sales and stay on top of their finances. Whether an online business is new or well-established, it’s important to understand the finances behind the business, the

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accounting
Accounting

What is the Difference Between Financial and Management Accounting?

While there are many similarities between Financial and Management accounting there are a few key differences that set them apart. The differences are predominantly centered around compliance, the audience, and typical accounting standards.    Financial Accounting Financial accounting is used to show the financial strength of an organization to its

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Tax-Tip

IRS BACKLOG OF TAX RETURNS HITS 35 MILLION

The IRS has ended the filing season with a backlog of over 35 million individual and business income tax returns that require manual processing, after facing an “unprecedented” number of returns requiring manual review, according to the National Taxpayer Advocate. The “historically high” number of returns requiring manual review means

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New Business

Setting up an LLC for Real Estate

I am often asked if real estate investors need to create a separate Limited Liability Company (LLC) for each investment property they own, or if one LLC can cover them all. My answer is always: create an LLC for each property. In fact, many investors and builders name each LLC after

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Tax-Tip

2020 Taxes: What You Need To Know Before Filing

Due to Covid-19 and many other things, a lot has changed for the 2020 tax season, and now more than ever it’s important to start thinking about your tax situation while you still have time on your side. As the pandemic still plays a significant role in our economy, the

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