Cassidy Jakovickas, CPA

2021 40u40 @cpapracadvisor • 2019 Intuit’s Accountant Council • Active in @IntuitAccts & @Cal_CPA communities • Leading @mbsaccountancy since 2011

[Cassidy Jakovickas, CPA @jakovickas]

Something I've noticed after years of this work:

The business owners who are most financially successful aren't always the ones with the best ideas or the hardest work ethic.

They're often the ones who make decisions with the clearest information.

They know their margins. They understand their cash cycle. They can tell you within 10% what their tax liability will be before April.

That clarity doesn't happen by accident. It's built with the right CPA, accountant, or fractional CFO in your corner.

#growth #accounting #cfo #cpa #financialreporting #businesstips

[Cassidy Jakovickas, CPA @jakovickas]

"Quick clarification I give a lot:

A bookkeeper records what happened.

An accountant helps you understand what it means.

A CPA structures and plans around it.

A CFO turns all of it into a growth strategy.

All four roles matter. A lot of growing businesses either have too much overlap or a critical gap — usually between the recording and the planning.

If you're not sure which one you're missing, the answer is probably visible in your 2025 tax return."

#growth #accounting #cfo #cpa #financialreporting #businesstips

[Cassidy Jakovickas, CPA @jakovickas]

A lot of business owners don't realize how much low-grade anxiety comes with disorganized finances.

It becomes background noise. You stop noticing it because it's always there.

When the books are clean, the reporting is current, and you actually understand your numbers — that noise goes away.

Good accounting doesn't just fix your finances. It gives you your attention back.

#growth #accounting #cfo #cpa #financialreporting #businesstips

[Cassidy Jakovickas, CPA @jakovickas]

There's a version of your accountant that was perfect for your business at $400K in revenue. That same accountant may be the wrong fit at $2M.

Not because they're not good, but because what you need from a financial partner changes completely as your business grows. The questions get more complex. The stakes get higher. The need for proactive advice, not just accurate filing, becomes real.

If you haven't asked yourself whether you've outgrown your current setup, it's worth asking — and worth a conversation with my team.

[Cassidy Jakovickas, CPA @jakovickas]

I talk to business owners every week who are profitable on paper but confused about where the money went.

Revenue is up. The P&L looks fine. But cash is tight and they're not sure why.

Nine times out of ten, it's not a revenue problem. It's a visibility problem.

When you can see your numbers clearly — not just at year-end, but monthly — the answer usually becomes obvious. And so does the fix.

[Cassidy Jakovickas, CPA @jakovickas]

Every client is different. Some are focused on stability and saving on taxes, while others are all in on growth. That's why the first thing we do is listen.

Once we understand your goals, we build a service plan around them, make sure you have the right technology in place, and show up as the trusted partner you need to move forward. So you can focus on the big picture, knowing your accounting is handled.

[Cassidy Jakovickas, CPA @jakovickas]

Tax season just ended. And for most business owners, that means a mix of relief and a nagging question: why did I owe that much?

The answer is almost never surprising to a CPA who's been watching your books all year.
You deserve to know before it's a surprise.

[Cassidy Jakovickas, CPA @jakovickas]

Every decision you're making today is based on data from last month. Or last quarter. Or last year.

That's how most business owners operate — and it's not entirely their fault. Standard financial reporting is backward-looking by design. The P&L tells you what happened. It doesn't tell you what's coming.

The problem is that by the time a cash flow issue, a margin problem, or a tax liability shows up in your reports, you've already lived through the cause. You're just reading the damage.

The businesses that stay ahead aren't smarter. They've added one layer: forward-looking financials. A 13-week cash flow projection. A budget vs. actual review every month. A quarterly look at where margins are trending, not just where they landed.

That shift — from reporting to forecasting — is the difference between reacting and deciding.

If your monthly financials are only telling you where you've been, you're navigating with the wrong instrument. Visit https://t.co/a4mWY2pNzm to see how we help business owners shift from reporting to forecasting.

#growth #accounting #cfo #cpa #financialreporting #businesstips

[Cassidy Jakovickas, CPA @jakovickas]

I've watched businesses double their revenue and nearly collapse in the same year but it happens more often then you'd think....

When you grow fast, cash goes out before it comes in. You hire ahead of revenue. You buy inventory or equipment. You take on more clients before you've collected from the last ones. The P&L looks great. The bank account doesn't.

This is the working capital trap and it hits hardest between $1M and $5M in revenue, when the business is too big to run lean and too small to have a CFO watching the gap.

The warning signs are easy to miss: AR is climbing, margins feel fine, and revenue is up. But cash is tight and nobody can explain exactly why.

If you're growing right now and cash still feels unpredictable, that's not a revenue problem. It's a cash flow modeling problem.

Talk to my team and I at https://t.co/a4mWY2pNzm and we'll help you fix this before it becomes a crisis.
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#BusinessTips #CFO

[Cassidy Jakovickas, CPA @jakovickas]

When did you last raise your prices? If it was years ago, your margins have already shrunk, you just haven't seen it yet. Between 2021 and 2024, the cost of labor, materials, software, insurance, and overhead climbed significantly for most small businesses. But pricing? Most owners either didn't raise rates or raised them once and stopped.

There are two reasons for this...
1) Revenue growth hides this:
You're doing more work, winning more clients, hitting new revenue records and taking home less per dollar than you were three years ago.

2) Margin erosion doesn't announce itself. It shows up as cash feeling tighter despite growth, owner pay staying flat, and no clear explanation for why the numbers don't add up.

The fix starts with knowing your actual gross margin by service line, not just overall, and comparing it to 24 months ago.

If you haven't done that analysis, I'd start there. We do this regularly for our clients...

Visit https://t.co/a4mWY2qloU to learn how we can help you understand (and fix) margins.

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#accounting #bookkeeping #cfo #BusinessTips

[Grumpy CPA @taxlady04]

lol #taxtwitter

[Cassidy Jakovickas, CPA @jakovickas]

https://t.co/ORaztgSWdC

[Cassidy Jakovickas, CPA @jakovickas]

Are your BOI reports ready to be filed by the January 1 deadline? Effective January 1, 2024, businesses that existed before January 2024 have until January 1, 2025, to submit their BOI report.

FinCEN estimates it will take roughly 3 hours to prepare and submit each entity's beneficial ownership information (BOI) report. This does not include time spent on updates for information changes.

In case you don't know, the Financial Crimes Enforcement Network (FinCEN) is introducing new reporting requirements as part of the 2019 Corporate Transparency Act to combat money laundering.

Penalties for non-compliance are up to $500 each day the violation continues.

You're required to submit the following for each beneficial owner in your entity:
• Owner’s legal name
• Residential address
• Date of birth
• Unique identifier number from a non-expired passport, driver’s license, state identification card

You must also submit amendments to FinCEN within 30 days from the date this information changes.

We're helping clients with their BOI reporting compliance so they're ready by the deadline.

If you need help with BOI reporting, contact us at @MBSAccountancy (https://t.co/K9mFR17sVH).

But please note that the earlier you contact us (or any CPA) for BOI services, the better.

There is a lot of administrative work that is involved and this is NOT something you want to wait until the last minute for...that ~$500 fine/day will add up quickly.

Contact us to become and stay compliant with BOI!

[Cassidy Jakovickas, CPA @jakovickas]

One major tip for those offering work from home to employees: Trust but verify. Here's what I mean:

The trust-but-verify approach involves two aspects:

1) Trusting your people to do their best, and giving them the support to do so.

2) Verifying their productivity by analyzing output and capacity. Also, feedback in 1-1 meetings.

This beats any amount of employee surveillance tools.

I firmly believe people can rise to the occasion if you equip them and encourage them.

What have you learned about managing a hybrid / #WorkFromHome team?

[MBS Accountancy @MBSAccountancy]

Many nonprofits go into audits with blind faith in their financials. It costs them.

See...if you give an auditor too much info, they'll end up charging for the time they have to spend filtering through it.

[MBS Accountancy @MBSAccountancy]

If your accountant is missing tax deadlines and not informing you about tax payments owed, you’re likely dealing with enormous penalties and interest charges related to underpayment or delayed filings.
Upgrade your #tax strategy with our services: https://t.co/k9IAlCvazP

[MBS Accountancy @MBSAccountancy]

Some of our team took time today for pedicures 💅
#pedicure #nailart #nailsalon

[MBS Accountancy @MBSAccountancy]

We're getting solar installed ⚡ Talk about a power move 😎 #SolarEnergy #GoingGreen

[Cassidy Jakovickas, CPA @jakovickas]

I love the comment feature of @loom. It's very efficient to be able to comment on specific sections of videos for asynchronous communication.  Plus you can use emojis! Also - you can't beat how quick it is to launch Loom from the chrome extension for quick videos.

[Cassidy Jakovickas, CPA @jakovickas]

I learned many lessons about delegation while managing a 130-year-old brick building remodel...

First, about the remodel.

In this case, the result I wanted was a remodeled building ready for occupancy. But while I know the basics, I can't frame up walls, hang drywall, install windows, etc. So I hired tradespeople for each task and built out a timeline for the remodel. I didn't know how to do each task, but I knew what I wanted.

I discussed and clarified the steps involved:
• foundation and rough framing
• major systems and coverings
• finishings

This remodel project also happened to be in my hometown in Canada so I had the added challenge of managing the project from another country. To hold everyone accountable, I hired a project manager (my Dad!) to ensure each step was done right and on time.

So the lessons I learned?

1 - Delegation requires you to know the steps involved, have a timeline for steps, and clearly understand your desired result.

2 - Accountability is key since things come up and things rarely go as planned.

3 - Once you have the right people in the right place, give them room to do their jobs without hovering over their shoulders. Trust your PM to alert you to errors.

What delegation tips would you add?