CPA Blog | Liguori Accounting

Identifying Your Financial Health: A Guide for Medical Spa Owners

November 22, 2024

Managing a successful medical spa requires more than just providing excellent services; it also involves keeping a close eye on your financial health. Ensuring your financials are in line with industry standards is key to achieving long-term profitability. In this guide, we’ll break down the essential financial metrics every medical spa owner should monitor. Key […]

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CFO Consulting

Med Spa Owners: Track These 4 Essential KPIs for a Thriving Practice

October 16, 2024

Intro In today’s competitive med spa industry, staying ahead means monitoring Key Performance Indicators (KPIs). These 4 Essential KPIs give you insights into your operations and guide strategic decisions to improve your practice and become a top-performing med spa. For instance, top-performing med spas in 2022 earned 4.5 times more revenue than the industry average,

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CFO Consulting

Key Accounting Insights for Buying Medical Spa Equipment

August 29, 2024

Introduction As a medical spa owner, investing in new equipment is essential for growing your business and offering exceptional services to your clients. However, the financial aspects of purchasing equipment can be overwhelming. This guide provides key accounting insights to help you make informed decisions when buying medical spa equipment. Budgeting and Forecasting for Equipment

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The Difference between Tax Credits and Tax Deductions

July 4, 2023

Introduction: It’s essential to understand the various ways you can reduce your tax liability and maximize your savings. Two commonly used strategies are tax credits and tax deductions. While both can help lower your overall tax bill, they work in different ways and have distinct implications. In this blog post, we will delve into the

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TaxTax Credits, Tax Deductions

Understanding Financial Statements

June 20, 2023

When it comes to managing your business’s financial health, understanding and analyzing financial statements is crucial. Financial statements provide a snapshot of your business’s financial performance, allowing you to make informed decisions and plan for the future. In this blog post, we will explore the three primary financial statements: the balance sheet, income statement, and

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Accounting/BookkeepingFinancial Statements

Uncover Your Business Niche

June 6, 2023

1. Understanding the Power of a Business Niche: Before we dive into the process of finding a niche, let’s understand why it is so important. A niche refers to a specialized segment of a market that caters to a specific group of customers with certain needs, preferences, or pain points. By focusing on a niche,

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Financial Metrics Every Small Business CFO Should Track

May 23, 2023

Gross Profit Margin: The gross profit margin is a fundamental metric that measures the profitability of your products or services. It represents the percentage of revenue that remains after deducting the direct costs associated with delivering your offerings. By monitoring this metric, you can assess your pricing strategy, evaluate the efficiency of your operations, and

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Choosing the Right Business Structure

May 10, 2023

In this blog post, we will discuss the four most common business structures: sole proprietorship, partnership, limited liability company (LLC), and corporation. Sole Proprietorship A sole proprietorship is the simplest business structure, where a single individual owns and operates the business. The owner has full control over the business and assumes all liability for its

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Using Financial Reconciliation to Keep Your Business on Track

April 26, 2023

Among those activities, financial reconciliation plays a vital role in keeping your finances and your business on track. Here’s what you should know about financial reconciliation and how it can help your business. What is financial reconciliation? Financial reconciliation is a process of ensuring your financial records are consistent and accurate. Basically, when you conduct

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Considering Digital Receipts for Your Business

April 12, 2023

Here are more reasons why your business should consider eliminating paper receipts all together. 1. Digital receipts decrease costs Receipts eat into your profits. It costs money to buy the paper and the ink which is more than it costs to simply email receipts to clients. Your business saves money by not printing receipts for

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Accounting/Bookkeepingaccounting education, Liguori Blog, small business