Skyplex Management Blog: Financial Tips, Tax News & Small Business Advice
Explore expert insights on bookkeeping, taxes, and business finances. Get the latest updates—including Ohio tax-free weekends, growth strategies, and accounting tips for entrepreneurs.
📊 Preparing Your Business for Q4: A Mid-Year Financial Checkup
Mid-Year Financial Checkup for Small Businesses | Skyplex Management
Get your business ready for Q4 with a mid-year financial checkup. Learn key steps to improve cash flow, reduce taxes, and plan ahead for year-end.
Why August Is the Perfect Time to Look Ahead
Mid-August is a critical pivot point for small businesses. Summer’s slowing down, Q4 is coming fast, and the financial decisions you make now can make the difference between scrambling at year-end and finishing the year strong.
A mid-year financial checkup helps you:
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Spot cash flow gaps
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Identify tax-saving opportunities
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Set realistic targets for Q4 growth
✅ 1. Review Your Year-to-Date Financial Statements
Pull your Profit & Loss, Balance Sheet, and Cash Flow statements through July or early August.
Ask yourself:
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Is revenue on track to meet your annual goals?
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Are expenses creeping up in certain categories?
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Is your net profit margin where it should be?
➡ Pro Tip: Compare this year’s numbers to the same period last year to identify trends.
moreAugust Bookkeeping Checklist for Small Business | Skyplex Management
Stay ahead this August with a bookkeeping checklist tailored for small business owners. Track income, expenses, and plan ahead for Q4 with Skyplex Management.
🗓️ Why August Matters for Bookkeeping
August may feel like the "dog days of summer," but it's a critical checkpoint in the financial year. With two-thirds of the year behind you, now is the time to make sure your books are clean, your reports are accurate, and you're financially prepared for Q4 — and tax season beyond that.
Here’s your August bookkeeping checklist to stay ahead.
✅ 1. Reconcile July’s Bank & Credit Card Accounts
Start by reconciling all accounts through July 31.
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Match your bank and credit card statements to your books
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Review any uncategorized or uncleared transactions
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Make sure beginning balances match the prior month
➡️ Why it matters: Clean reconciliations prevent errors from snowballing. If you’re behind more than 30 days, your reports may be misleading.
✅ 2. Review Year-to-Date Profit & Loss
Generate a year-to-date P&L report through July.
moreOhio Tax-Free Weekend 2025 | What Qualifies, Dates, and Savings
Ohio’s 2025 sales tax holiday runs from August 1–14. Discover what qualifies, how much you can save, and smart ways to maximize the tax-free weekend.
What Is Ohio’s Sales Tax Holiday?
Ohio’s annual tax-free weekend is getting a major upgrade in 2025. What used to be a three-day sales tax break focused on school supplies has expanded into a full two-week statewide sales tax holiday, thanks to new legislation passed in 2024.
The 2025 Ohio tax-free holiday will run from:
🗓 Friday, August 1 at 12:00 a.m. through Thursday, August 14 at 11:59 p.m.
This expanded window gives Ohio shoppers more time—and more options—to save on qualifying purchases statewide.
What’s Included in Ohio’s 2025 Tax-Free Holiday?
Unlike previous years, the 2025 sales tax holiday covers nearly all tangible personal property priced at $500 or less per item.
✅ Qualifying Items Include:
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Clothing and shoes
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School supplies and backpacks
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Computers, tablets, and accessories
more