Litrivis CPA PLLC

09/08/2026

The office supply run on your personal debit card seems harmless. Forty of those later, it is a bookkeeping problem.

Mixing business and personal money is the single most common thing we clean up for new clients. And it is not a matter of preference. The IRS tells business owners plainly: one of the first things to do when you start a business is open a business checking account and keep it separate from your personal one, because that checkbook is the basic source for your books.

Here is why it matters at tax time. To deduct an expense, it has to be ordinary and necessary for your business, and you have to be able to back it up. If your records are one blended account, proving which charges were business becomes your job, months or years after the fact, often from memory. Deductions get missed. Others get claimed that should not be, which is its own problem.

There is a housekeeping angle too. Keep records generally for 3 years after filing, and employment tax records for at least 4 years. That is much easier when the business has its own account, its own card, and its own paper trail. If you run an LLC or a corporation, commingling can also weaken the liability separation you set the entity up for in the first place. That one is worth a conversation with your attorney.

The fix is not complicated: a dedicated business checking account, a dedicated card, a set owner draw or paycheck instead of dipping in as needed, and a bookkeeping system that reconciles monthly. If your books are tangled and you would rather not sort it out alone, reach out to Litrivis CPA PLLC. Untangling this is one of our favorite things to fix.

09/01/2026

3 KPIs to Check Every Month
📊 You don't need 20 dashboards. You need to check these three numbers every month.

Gross margin: revenue minus cost of goods sold, divided by revenue. This tells you what's actually left after you deliver your product or service, before overhead. Watch the trend more than the number. A slipping margin usually means pricing, costs, or both need a second look.

Cash runway: how many months your current cash balance would last if money stopped coming in tomorrow, based on your average monthly burn. Most advisors want to see 6 to 12+ months of runway. Less than that, and you're making decisions from a place of stress instead of strategy.

AR aging (how fast you're actually getting paid): if your terms are net 30, collecting in under 35 days is solid, 35 to 40 is acceptable, and past 45 is worth digging into. Review this weekly if you can. It's usually the first place cash flow problems show up.

None of these require fancy software. They require someone actually looking at them every month, which is where a lot of business owners fall behind.

Want a second set of eyes on your numbers? Let's talk.

08/25/2026

💼 "Fractional CFO" gets thrown around a lot. Here's what it actually means.

A fractional CFO does the same work as a full-time CFO, financial strategy, forecasting, cash flow management, fundraising support, margin analysis, just on a part-time or project basis. Where a bookkeeper or accountant keeps your past and current finances organized, a CFO's job is to help you figure out where the business is headed next.

Signs it might be time to bring one in: → Cash flow keeps surprising you instead of being something you can predict. → You're preparing to raise capital and need real financials and forecasts, not guesses. → Margins are shifting and you can't pinpoint why. → You're the one chasing invoices and covering payroll instead of setting strategy.

On cost: a full-time CFO typically runs $350K to $800K a year in salary. A fractional CFO usually runs $2,500 to $12,000 a month, most engagements land between $4,000 and $8,000, or $200 to $500 an hour if you structure it that way. Same strategic expertise, a fraction of the commitment.

If any of this sounds familiar, let's talk about what CFO-level support could look like for your business.

08/18/2026

Growing companies often assume the next step is hiring a Controller or CFO.
In reality, what many need is access to an experienced finance team that scales with the business.

08/11/2026

📅 Mark your calendar: Q3 estimated tax payments (federal AND New York State) are due September 15, 2026.

This payment covers income earned June through August. If you're self-employed, a freelancer, gig worker, or small business owner without paycheck withholding, this one's on you to track.

Who needs to pay: → Federal: if you expect to owe $1,000 or more in tax for 2026 after withholding and credits. → NY State: if you expect to owe more than $300 in state tax after withholding and credits.

How to avoid an underpayment penalty: pay at least 90% of what you'll owe for 2026, or 100% of your total 2025 tax bill (110% if your 2025 AGI was over $150,000). Hitting either of those "safe harbor" numbers protects you even if your final bill ends up higher.

One more NY-specific thing to check: if you're self-employed and work in the Metropolitan Commuter Transportation District (NYC + surrounding counties), you may also owe the MCTMT, 0.34% of net earnings once they cross $50,000.

Miss the deadline, and penalties can apply even if you're due a refund when you file.

Questions about what you owe or whether you're on track? Drop a comment, send us a DM or visit our website https://www.litriviscpa.com/acounting

08/05/2026

🥯 Did you know: in New York, a whole bagel is tax-free - but slice it, toast it, or add a schmear, and it's suddenly taxable?

Under NY's sales tax code, a bagel sold whole is a grocery item - no tax. But the moment it's sliced, toasted, or prepared to order, it's reclassified as "prepared food" and gets hit with an 8.875% sales tax. The rule dates back to the Great Depression and is still enforced today. Some bagel shops have even found workarounds, like stuffing cream cheese into an unsliced bagel to keep it tax-free.

It sounds like a punchline, but it's a real lesson in how sales tax actually works: it's rarely about what you sell - it's about how it's sold. The same logic trips up restaurants, cafes, and retailers of all kinds. Bundle two items together, heat something up, or add a service to a product, and you can shift it into a different (and higher) tax category without realizing it.

The takeaway for business owners: don't assume your product's tax treatment is fixed. Small changes in packaging, prep, or bundling can change what you owe - and it's worth checking before the state finds it for you.

Curious how NY classifies what you sell? That's exactly the kind of question we help clients get ahead of.

06/06/2026

The FIFA World Cup is coming to New York in a few weeks, bringing millions of visitors, increased spending, and opportunities for businesses across a wide range of industries.

After attending the NYC Small Business Month Expo, we came away with a lot of practical insights around funding, partnerships, operations, marketing, and planning for the economic impact of the event.

To share what we learned, we're hosting a free webinar:

📅 June 23, 2026
🕛 12:00 PM ET
💻 Online
🎟️ Free to attend

We'll discuss where the opportunities are, common mistakes businesses make when preparing for large scale events, and the financial decisions that can help position your business for growth.

If you're a business owner, consultant, agency, startup founder, or operator looking to make the most of FIFA 2026, we'd love to have you join us.

Register here:
https://litrivis-workshop.netlify.app/

02/28/2024

In 2024, CMOs face budget challenges but can overcome them by speaking the language of finance, emphasizing direct impact on revenue and market share, adopting growth-oriented budget methodologies, and abandoning outdated frameworks like the marketing funnel. By initiating early conversations and using persuasive language, CMOs can secure support for their marketing initiatives.

In the world of marketing, January can be a tough month for Chief Marketing Officers (CMOs). They often find themselves handed a budget that doesn't quite meet their needs, leading to a year filled with compromises and disappointment. Many CMOs make resolutions to avoid this situation in the future,...

01/02/2024

The accounting profession faces a crisis with a shortage of accountants, driven by declining student interest and a drop in CPA exam candidates. Proposed solutions include reconsidering the 150-hour requirement and introducing flexible alternatives tied to the upcoming CPA exam in 2024 to attract more students and ensure the profession's sustainability.

The accounting profession is in the midst of a significant crisis, grappling with a severe shortage of accountants. This crisis is underscored by a concerning decline in the number of students pursuing accounting majors, resulting in a 33% drop in first-time CPA exam candidates from 2016 to 2021. Th...

12/28/2023

2022 Global Risk Report: Majority Acknowledge Rising Risks, Yet Only a Third Implement Complete ERM Processes.

With only 1/3 of companies implementing ERM processes, Litrivis CPA can help you open the lines of communication in order to mitigate the risks in your company. Form a comprehensive risk management strategy The 2022 Global State of Enterprise Risk Oversight report found that although a majority of r...