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Financial Resolutions Massachusetts

A list of New Year's resolutions that will help you improve your bottom line. Read this article and learn more.

Local Companies

Tonneson & Company
(781) 245-9999
401 Edgewater Place, Suite 300
Wakefield, MA

Wolf & Company, P.C.
617-439-9700
99 High Street
Boston, MA

Carlin, Charron & Rosen LLP
(617) 226-7000
1400 Computer Drive
Westborough, MA

KPMG LLP
(617) 988-1000
99 High Street, 23rd Floor
Boston, MA

Pannell Kerr Forster, P.C.
(617) 753-9985
265 Franklin Street, 17th Floor
Boston, MA

Pricewaterhouse Coopers LLP
(617) 530-5000
125 High Street Tower, 9th Floor
Boston, MA

Century Bank
(617) 423-1490
24 Federal Street
Boston, MA

Eastern Bank
(617) 897-1010
265 Franklin Street
Boston, MA

Salem Five Bank
(978) 745-5555
210 Essex Street
Salem, MA

Wainwright Bank and Trust Company
(617) 526-0170
63 Franklin Street
Boston, MA

Here's a list of New Year's resolutions that will help you improve your bottom line.

Develop an operating budget. You need to understand how much it costs you to run your company. The best way to do that is to develop a financial reporting system that lets you compare a budget to actual operating expenses on a monthly basis.

Learn to read financial reports. By analyzing a monthly balance sheet, income statement, cash flow statement, and other financial reports, you can find out a lot about your company's performance. Ask your accountant for help, or consult a reference such as Remodeler's Guide to Making amp; Managing Money by Linda Case (published by Remodeling Consulting Services, www.remodelersadvantage.com).

Use job cost reports as a management tool. For every job, review the variances between budgeted and actual costs every week. Then curb potential cost overruns before it is too late.

Cut operating costs. Question all expenses. Once you start looking, you'll find many expenses you can shave. Cell phone use and excessive travel from jobsites to pick up supplies are two places to start.

Strive to improve gross profit by at least 2% and reduce operating expenses by another 1%. On annual volume of $1 million, a 3% increase in net profit would add $30,000 to your bottom line. That's not bad for simply following through on your New Year's resolutions. --Steve Maltzman, CPA, is president of Builder Accounting Services in Redlands, Calif. smcpa@aol.c

Click here to read full article from Remodeling

Featured Local Company

Tonneson & Company

(781) 245-9999
401 Edgewater Place, Suite 300
Wakefield, MA
http://www.tonneson.com/

Tonneson & Company CPAs PC is committed to service excellence and with our team of professionals, we will take a proactive approach in understanding our client's personal goals and objectives.

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- How to Hire a Financial Planner Massachusetts

Above all, make sure you're comfortable with your planner. Personality does count. That doesn't mean that when your planner sternly tells you that you need to stop spending more than you make you should ditch them immediately. It does mean that your planner should take the time to teach you why you should consider a certain product. Don't let a planner push you into something you're uncomfortable with.

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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
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Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History