Paris Accounting Corp

Our different approach helps select clients make more money, improve their quality of life and increase the market value of their business.

Phone: 718-281-0200
Email: [email protected]
PO Box 604993, Bayside, NY 11360
Profitability Consultant and CPA

August 2, 2017 by Harlan Kahn CPA

New Book: Fix the Tax Code Please!

A view of how to fix the tax laws by Harlan Kahn CPA.

Harlan Kahn CPA and Profitability Consultant“This book is a resource guide everyone should read regarding the posture the country should take regarding taxes”

  • What if Congress was subject to the same healthcare we have?
  • Can taxes help us regulate non-violent undocumented immigrants?
  • Why not just have a flat tax?
  • Why does it appear some corporations get large tax credits?
  • Sweeping tax changes to these sectors can hurt our economy

Buy the book or get a free preview at Amazon Books

—————–

About the Author:

Harlan S. Kahn is a CPA.  His accounting degree is from CUNY Queens College.  He has lectured for the IRS, Queens LIBOR, National Allied Professionals Inc and others.  Harlan became self-employed in November 1989.

In 2012, a consultant pointed out that after 23 years in the accounting field, Harlan had become a problem solver, not just a CPA.

Harlan says, “Today, as a profitability consultant, I have a different approach to client relationships.”  Our different approach helps select clients make more money, improve their quality of life and increase the market value of their business.

“It is very rewarding to plug profit leaks for customers, bring in new lines of revenue and point our clients in a direction to achieve their goals and aspirations.

Oh, and we do taxes!”

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February 15, 2017 by Harlan Kahn CPA

Live tax seminar for real estate pros

You are cordially invited to join me for a tax seminar dedicated to real estate professionals, hosted by LIBOR, on Feb 15, 2017 at Riccardo’s of Astoria. The tax presentation starts at 10:45 and is free.

Key topics include:

  • WHAT THE IRS EXPECTS OF REAL ESTATE PROS
  • 1031 LIKE-KIND EXCHANGES
  • TAX FOR REALTOR/LANDLORDS
  • BRING YOUR BEST TAX QUESTIONS FOR DISCUSSION

If you wish to join us for breakfast and networking, the event starts at 8 AM (breakfast is $15).

Details are in the attachment: Tax Seminar at Riccardo’s.

Look forward to seeing you there.

Harlan

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January 9, 2017 by Harlan Kahn CPA

Why you should treat your personal budget like a diet?

Monthly budget plan
Monthly budget plan

I guess it’s rare that people actually sit down and make a personal budget.

Having done my own budget about two times a year I know that it is very confronting to see the truth head on.  The hardest part of making a budget is getting the client willing to discuss it (often amongst each other).

So many times I used to work up people’s taxes when I ran an H&R Block office and heard the regrettable question, “How much did we make this year?”

Not once do I remember a happy answer to the truth when I responded with their AGI [adjusted gross income].  Either it was, “How could it be that little,” or, “where did it all go?”  It seems to me people here are encouraged to live on 110% of their income.  In Japan, by contrast, people are taught to save 10% of their income.

Click here for a budget template that I usually work with clients in my office on a big tv screen, in Excel.

It’s important to make sure you get all ordinary expenses in a personal budget.  I also take note of all credit card balances and interest rates, as to suggest a payoff method that relieves the largest interest cards first.

The hardest item to pin down is often entertainment.  Can you imagine making a rule of just how much you can spend on Friday & Saturday night every week?  I turn this into a game so that you can budget for big events by not spending too much all the time.

Every notice other people who spend a large percentage of their paycheck on purchasing food/coffee daily from outside vendors?  My dad told me at age 9 when I worked in his dry-cleaning store, “You come to work to make your own money, you are not here to make it for the lunch guy” or the soda seller.

When it comes down to a personal budget, it’s a lot like a diet. On a diet, if you write down everything you eat every day for a few days, your own mind will tell you to eat better.  With a budget, if you write down all you spend every day for a week, you will become less frivolous with your money.

If you need help with this you can always contact us at [email protected].

Here’s to a more profitable year (and healthy too).

Harlan

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Filed Under: tax

December 15, 2016 by Harlan Kahn CPA

Webinar: Business Improvement Series

As a profitability consultant, I am always looking for ways to help business owners make more and keep more income from their business.

I recently held a micro-webinar (15 minutes) discussing the importance of managing Cash Flow in your business. Watch it here:

https://parisac.com/wp-content/uploads/2017/01/ParisAC-webinar.mp4

Access the webinar handout here: 2016-Cash Flow Webinar Handout

Your feedback is welcomed. If you have suggestions for future educational events, please let us know here: https://www.surveymonkey.com/r/FYM8GF6 

 


Problems with cash flow in your business? Apply for a business consultation to discuss your specific issues and get back on the road to profitability. Call our office or schedule a no-hassle appointment online in the right sidebar.

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October 3, 2016 by Harlan Kahn CPA

What indicators most wholesale and retail business owners need for more profits

Most business owners are looking to maximize profits and minimize costs.  The basic concept of buy low and sell high seems to permeate all wholesalers and retailers. The question then is, “What are the Key Performance Indicators? What information do I need to look at to enhance my profits and decrease my expenses?”

There are many performance indicators. The importance is in picking the right indicators that keep you in touch with growing your business.

For example: Gross profit percentage (your profit divided over your gross sales) and Inventory Days (the number of days your inventory sits) are two of my favorite indicators. These indicators tell me if your profit structure is good and if you are moving your goods at a rate similar or better to those in your industry.

Another tool I use, is to look at expenses spread over the year and comparing to prior year’s expenses. Monthly expenses displayed over a year sheds light on specific costs and how to anticipate them.  Knowing this gives the owner knowledge to decide about equipment investment/replacement or to continue with upcoming expenses.

profit loss tips for wholesale or retail

Of course all key performance indicators are best when used as the backdrop of a master plan.  Indicators are the GPS of your course telling you if your business is growing and just how much. Relative to your budget and projections, GPS produces measurable results in real time. If you don’t have a plan (or you have a plan like “we’ll just need more sales”) then what you need is to develop and plan.  Next is to work your developed plan and measure its results regularly. Plans should be both global and tactical to achieve results timely. Developing a good plan often requires someone with experience at designing plans and measuring results, like a CPA who is also a profitability consultant.

Perhaps the most overlooked performance indicators are with employees. Employees should be your best asset. They are the ones that move the merchandise from your possession to the customer’s time and time again. The cost of training staff, losing staff or having staff that turn off customers are businesses biggest profit leaks.

A colleague of mine from Texas developed indicators such as LABOR COST PER EMPLOYEE, REVENUE PER EMPLOYEE and RETURN ON TOTAL LABOR COST. These are good indicators of how you are doing with regard to your employees. Employees are the back bone of most operations.

Ask yourself these questions about your employees:

  • What would it cost you to lose your best employees?
  • What systems do you have for retaining the good employees?
  • Do you have a reward system in place for contributing?
  • Are there consequences for unwanted behaviors?

To take the next step, I invite you to take our Entrepreneur’s Business Survey to identify other areas that are causing profit leaks. If working less and making more is something that interests you, I suggest you test your entrepreneurial excellence with our brief 10 question Entrepreneurs’ Business Survey here:https://www.surveymonkey.com/r/P83V75C

Thank you for your participation! Best wishes for a great year ahead.

Harlan Kahn CPA, and profitability consultant

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If you are a business owner in the greater NYC/LI area and want to get more out of your business – I recommend you invest in a free 20 minute no-hassle business strategy session. I can quickly identify profit leaks and how I can help you improve your business. Call our office at 718-281-0200 or click here to schedule a free business strategy consult.

Don’t leave without downloading my free ebook “Do you own your business – or does it own YOU!”  Great insights to revive the dream.

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New Must-read Book by Harlan Kahn CPA

Fix the Tax Code Please!: One Certified Public Accountant's view on helpful tax changesOn sale now and get a free preview at Amazon Books.

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Paris Accounting Corporation

PO Box 604993
Bayside, NY 11360

Phone: (718) 281-0200
Hours: 9-5 M-F
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Please feel free to contact us with any questions or comments you may have – we would love to hear from you. We pride ourselves on being proactive and responsive to our clients’ emails and phone calls.

Recent Blog Posts

  • New Book: Fix the Tax Code Please!
  • Live tax seminar for real estate pros
  • Why you should treat your personal budget like a diet?
  • Webinar: Business Improvement Series
  • What indicators most wholesale and retail business owners need for more profits

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