Stat of the Month: Can AI Streamline Compliance?
Gusto CEO Josh Reeves estimates that when he and CTO Edward Kim started Gusto in 2012, “40% of companies did payroll by hand and
close to 30% got fined or penalized for making mistakes every year.”
Read the full article in Fast Company.
Tax Tip of the Month
Finance Tip of the Month
Have you created a 2025 business budget yet? Start with projected revenue, then who and what you'll need to attain that goal (people, technology, sales & marketing investments). Finally, project fixed/operating expenses based on last years and assuming 10% increases, and you've got a strategic management tool and benchmark to grow revenue and keep expenses low.
Essential Reads
Spotting Red Flags: 6 Financial and Tax Issues to Explore Before Buying a Business
Richard Pasquantonio and Gretchen Roberts recently joined Mary Ostafi from FractionX for a fireside chat on how to perform financial due diligence when acquiring a business. Watch the replay below and explore our M&A Due Diligence services from financial due diligence and tax structure to cash flow modeling and asset allocation. Watch the replay here >
Hurricane Update
Beyond our tax and bookkeeping services, we specialize in forensic accounting to assess and quantify economic damages for insurance claims. If you were affected by the hurricanes and have a business claim or need clarity on financial losses, we can help. Reach out to discuss how our expertise can support your financial recovery.
Client Story of the Month
For a client opening a new location with a lot of new equipment, we strategically took depreciation on new assets to put the client under the QBI threshold and get a $22K deduction, resulting in over $4K of tax savings.
A Question for You
Are you planning for 2025? How can we help?
Until next month,
Your Red Bike Advisors Team
About Red Bike Advisors
We're on a mission to equip small business owners with finance and tax insights that create exponential value for their companies, customers, employees, and families. From compliance to advisory, we take the confusion and scramble out of business finance and tax strategy and bring in clarity, growth, and peace of mind.
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1650 Military Cutoff Rd. Suite 104, Wilmington, NC 28403
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