In The News

PCO Bookkeepers Launches Paycheck Protection Program Loan Services

NEWTON, N.J. – PCO Bookkeepers launched a new service to help pest management companies prepare an accurate Paycheck Protection Program (PPP) loan application and maximize their loan forgiveness. “The benefit to using this service is having…
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PCO Bookkeepers launches PPP loan service

On June 2, Newton, N.J.-based industry accounting firm PCO Bookkeepers introduced its Paycheck Protection Program (PPP) loan service, to help pest management companies prepare an accurate PPP loan application and maximize their loan forgiveness…
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An Outside(r) Perspective

Do industry outsiders who start pest control companies have a built-in advantage? If so, what gives them an edge? And how can you use these principles in your own business?
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Webinars address how to navigate your business during a pandemic

The webinar series “COVID-19 Proofing Your Business” was designed to help pest management professionals (PMPs) carry on as states issued stay-at-home mandates during the coronavirus pandemic…
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Web Exclusive: Keeping business strong during COVID-19 pandemic

We are observing a can-do attitude from our pest management clients, with respect to operating their businesses in these challenging times. With a combination of government program aid and entrepreneurial tenacity, our industry remains in a…
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Coalmarch and PCO Bookkeepers Launch Webinars to COVID Proof Your Business

Coalmarch and PCO Bookkeepers have announced the launch of a weekly webinar series to support small business owners in the pest industry and to help them navigate the new realities of the rapidly evolving COVID-19 situation. The webinars will be…
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Government response to pandemic can help your business

During the COVID-19 pandemic, relief efforts from government, corporations and others have taken shape The federal government’s response has been massive, from both a consumer and a business prospective. Without consumers, our…
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Why You Need a Helping Hand

The opportunity to sell your pest control company can be exciting, but also confusing and overwhelming. Whether forced to sell quickly or planning for the future, selling a business requires a solid plan and professional guidance. Consultants Dan Gordon…
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Paycheck Protection Program: SBA issues guidance

The Small Business Administration, in consultation with the U.S. Department of the Treasury, released guidance in the form of a Paycheck Protection Program (PPP) Loans Frequently Asked Questions (FAQs) page that the SBA will update regularly…
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Financial Check-Up

Dan Gordon, a CPA with PCO Bookkeepers in Newton, N.J., is a well known provider of business guidance regarding accounting, route efficiency and the utilization of people to help make pest control businesses stronger and more profitable. Gordon…
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New technologies are streamlining accounting for business

Today’s business owners and managers demand an ever-increasing amount of real-time information, provided in easy-to-use dashboards so they can make decisions quickly. At our accounting firm, we’ve noticed that to flourish, we must be able…
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Dos and Don’ts of Subcontracting

Companies big and small outsource services from bird and wildlife control to fumigation, bed bug heat treating and canine inspection. They subcontract out work where they have clients but no branch locations and where they aren’t licensed…
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How to keep your pest control company solvent during the coronavirus pandemic

Tired of those emails telling you how everyone you’ve ever had contact with is dealing with coronavirus (COVID-19)? Here is what you need to know to keep your company solvent. PCO Bookkeepers works with over 300 pest control and lawn care clients…
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Revenue Is One Thing… Profit Is Another

Everybody wants a healthy influx of business. When you’re generating revenues hand over fist, it feels good — like your business is thriving. But of course there’s another dimension to this financial activity: profit. How much of your company’s revenues…
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Understanding the tax audit process

At some point, your pest control company probably will be selected for a sales and use tax audit — and you’ll need to be prepared. For those pest management professionals (PMPs) who are in states where services are not subject to sales tax…
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Common M&A Post-Closing Disputes . . . . . . And how to avoid them.

When it comes to either selling or buying a pest control company, any owner who is involved in doing so will invariably tell you that the transaction is complex. Expanding a company through acquisition or selling a company can involve all kinds of difficult…
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Section 199A: Tax reform’s gift to PMPs

Section 199A, passed as part of U.S. tax reform efforts in December 2017, gives many small business owners a 20 percent qualified business income (QBI) deduction. Generally, QBI is income from a trade or business received by an individual from a…
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A Financial Must — An Annual Budget

How do you keep score in your business? How do you know if you are winning or losing? Is it money in the bank? Profits? Growth? The answer: “All of the above.” As such, budgeting is key to your operational and financial plan. But how do we formulate…
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How to create a 1-minute management report

When I look at a set of financial data, my objective is to determine within one minute whether the company is profitable, and whether the revenues and expenses are in line with standards we’ve created for the pest management industry…
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Fiscal fitness check: 2019 Pest Control Operating Cost Study

Information is power. By measuring the key performance indicators of one’s pest control company against successful players in the industry, owners and managers can identify their financial and operational strengths and weaknesses, as well…
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Beware of the customer attrition penalty clause

Although it would be nice for the seller, a merger and acquisition transaction with 100 percent cash up-front at closing for an agreed purchase price is rare. The primary reason is, after consummating the transaction, the risk of customer base loss…
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6 ways to build your company with the end in mind

Attend a pest control industry conference and you know the conversation eventually will turn to merger and acquisition activity. Everyone wants to know: Who sold? Who bought? How much did the buyer pay? And perhaps most important, how much did…
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Prepare for a great financial year

The pest management industry is in great shape and poised for another record year. Optimism abounds, even though the weather didn’t cooperate in many parts of the country. The new tax laws gave an already-strong economy a shot in the arm…
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3 steps to empowering employees with corporate cards

Working in the pest management business, we find ourselves on the road solving a multitude of problems. As such, we often require supplies that can’t be planned for, parts for our equipment, fees for the occasional plumber or electrician who…
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Budget your way to success

Pest management revenues can be categorized into three main areas: route work, renewals and new sales. When setting up your budget, it’s important to enable your organization to monitor these revenue groups individually Most pest control firms sell…
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Is it time to increase your pest control pricing?

Staying successful by employing an effective pricing policy means increasing profit, beating the competition and creating wealth. Price increases or decreases have a magnification effect on profit. The reason is simple: Price increases or decreases have…
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Focus on gross margins for profitability

When you sell products, calculating your gross margin is easy. It’s the difference between how much you purchase a product for and how much you sell the product for, stated as a percentage. For example, if you sell a bait station for $30 and it cost you…
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What you should know about the new tax law

In late December, the most sweeping tax reform act since the 1986 overhaul put forth by President Ronald Reagan has been signed into law. So, what does it mean for you? No matter what side of the political spectrum you come down on, there is a lot…
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Is your pest management business ready for 2018?

Everyone wants a large, profitable company that could fetch the maximum value for its owners should they want to cash in their chips. Growth and profit are components of the box score in business. Company value is the pot of gold at the end of…
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5 steps to organize your business finances

As a pest management company leader, you must juggle operations, management and marketing — as well as customer service and several other functions. Unless you have someone on staff who has all the skills needed to manage accounting duties…
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Better time management increases profits

I was at a seminar the other day, and asked the attendees whether they ever thought about what they sell The answers were exactly what I would expect when asking this question to a room full of pest management professionals (PMPs): “Removal…
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How changing interest rates affect company valuations

As noted in “M&A: How to maximize your pest control firm’s potential,” when using an annual free cash flow model for determining the enterprise value of a pest management business, one of the key factors used is the buyer’s…
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Reduce taxes with proper deductions

As the adage goes, you’ve got to spend money to make money. It follows that knowing how to maximize It follows that knowing how to maximize your deductible business expenses lowers your profit — and therefore, your taxes. The income tax rules…
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M&A: Don’t overlook tax impact on sellers

One commonly overlooked aspect of a mergers and acquisitions (M&A) transaction is determining the tax impact on the seller. Without proper tax planning during the early stages of the transaction, you may end up hitting a home run in terms…
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Pest industry M&A: A historical perspective

Historically, the professional pest management industry can be best described as a family affair. The majority of firms start as family businesses, grow significantly and are passed from one generation to the next. As with most industries, however, there…
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M&A: How to maximize your pest management firm’s potential

Over the past 10 to 15 years, U.S. pest management professionals (PMPs) have seen their industry undergo a dramatic transformation, fueled by rapid growth and recognition by the “smart money” people on Wall Street that a recurring revenue…
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Overtime rule now on hold

On Nov. 22, a federal judge in Texas issued a preliminary injunction against the Department of Labor (DOL) rule on the income level at which employees are entitled to overtime. The rule was set to go into effect Dec. 1, 2016. The judge said the…
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How to optimize your office

After working with several hundred pest management professionals (PMPs) nationwide, I’ve observed very successful companies as well as companies in need of improvement. It’s abundantly clear that profitability starts with effectively handling the…
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7 business builders

What defines success? How does one achieve it as an owner or manager of a pest management company? In my book, From Technician to CEO – The Evolution of a High Growth Pest Control and Lawn Care Company — published by Pest Management…
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How to develop a checklist

Checklists can be used for managing any project or ongoing procedures. The best way to develop a checklist is to: Determine a timeframe in which all tasks must be finished (daily procedures, weekly procedures, monthly procedures, etc.)…
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What the new OT rule means to PMPs

The U.S. Department of Labor’s (DOL’s) new overtime (OT) rule, scheduled to go into effect Dec. 1, 2016, might sting a little, but I don’t think it will change the way pest management professionals (PMPs) do business in a profound manner. That is, unless…
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New tax law means less waiting for newly converted S Corps

Big news for C Corps that converted to S Corps and are awaiting the end of the 10-year built-in gain period to elapse: A new tax law permanently reduces the period to five years. A C Corporation (C Corp) that converted to an S Corporation (S Corp) has a net…
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Financial Strategies: Why are S Corporations So Popular?

Knowing the difference between a C corporation and an S corporation is essential for effective tax planning. It’s important for pest management company owners to understand the differences between a C corporation (C Corp) and an S corporation…
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Financial Strategies: Employees vs. Independent Contractors

Misclassifying an employee as an independent contractor will cost you, so classify your workers correctly. The Internal Revenue Service (IRS) and the U.S. Department of Labor are cracking down on employers who pay workers without withholding…
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It’s All About Accountability

It’s lonely at the top. Every day I have to make decisions that affect my company, customers and employees. I have no one to tell me whether these decisions are right or wrong. My gut is my guide. This is the plight of most business owners…
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Let Your Peers Help You Boost Your Business

What a terrific time we had last month in sunny Florida — several pest management professionals (PMPs) gathered for a couple of days of intense learning, camaraderie and nighttime entertainment in a noncompetitive environment. Throughout the …
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United in Hope: When the Student becomes the Teacher

On March 7, 2013, our son Matt — then a freshman in college with aspirations of following in my footsteps and becoming an accountant — was diagnosed with stage 4 Hodgkin’s Lymphoma. As parents, we try to teach our children to do the right thing…
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Transition Strategies: Details of the Business Deal

Mergers and acquisitions (M&A) brokers should be effective in educating their seller clients about the deal process and what to think about before shopping a company to potential buyers. There can be no greater mistake than not investing…
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M&A: Buying and Selling Dos and Dont’s

An accountant seeking to assist his seller client to finalize a successful transaction needs to be mindful about the impact of purchase price allocations agreed on between seller and buyer. Specifically, a buyer usually wants to attach a higher…
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M&A: Legal Dos and Don’ts

When a transaction opportunity presents itself, many small-business owners turn to their attorneys. But while their experts might be knowledgeable about general corporate matters, they might have little expertise in the various business, accounting, tax…
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PMP Business Acumen By the Numbers

Information is power, and the bookkeeper or accountant in your company wields a tremendous amount of it. He provides the information that shows how the company is financially, which helps management and ownership make decisions about…
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M&A Dos & Don’ts from a Broker’s Perspective

Once a seller has decided to sell (or is thinking about selling) a business, the first questions revolve around the worth of the business being sold, who are the best buyers and how can those prospective buyers be contacted? A CPA or…
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Six steps to the next level

As an owner who wants to expand your company, the idea of purchasing a competitor might seem might seem appealing. Selling your company also might be appealing. But how? Many people have opinions but if they don’t come from qualified professionals…
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Time to Sell? 7 Questions to Ask Yourself

Every pest management company owner should answer these questions to determine whether it’s time to sell their business. When trying to decide if it’s time to sell your pest management business, soul searching blended with logic and awareness of…
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Time to Sell? 7 Questions to Ask Yourself

Let’s use the example of a pest management business (S-Corp for tax purposes) generating $1.5 million in annual revenues with about 10 percent of such amount ($150,000) allocated to the business owner in salary and perks each year. A one-time annual…
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Exit Strategies – Minimize the Dreaded ‘Double Tax’

How to minimize the dreaded ‘double tax’ when you sell your pest control C corp. You’ve worked hard over the years building your business, and now it’s time to harvest the fruits of your labors. When you started, your attorney likely advised you that…
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Determine ROI for significant business expenditures

As an accountant, I’m often asked about significant expenditures, such as a new piece of equipment or marketing campaign. The answer to this type of question depends on whether the benefits of the investment outweigh the cost of the financial…
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Targeting T&E

The travel and entertainment category is one of the largest tax audit exposures for many small businesses. While recently attending a fancy dinner after a day of golf with other pest management professionals (PMPs) during an industry…
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PCO Bookkeepers: Coalmarch-partnered Webinars

PCO Bookkeepers and Coalmarch have partnered for a weekly webinar series to support small to support small business owners in the pest control industry, to help them navigate the new realities of the rapidly evolving COVID-19 pandemic. Taking place…
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Pest management experts share advice on dealing with the coronavirus pandemic

We asked Pest Management Professional’s columnists and editorial board members to share advice for owners and technicians who are working during the coronavirus (COVID-19) pandemic. Here are some of their responses— including a few extra…
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American Pest expands in Virginia

Richmond, Va.-based PestMasters Inc. has been acquired by American Pest, an Anticimex company company based in Fulton, Md. The family-owned firm was begun in 1953, and its owner and CEO, Dave Boose is a past president of the Virginia Pest…
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When you know it is time to sell

Many years ago, a good friend and successful colleague told me to “build my business to sell.” That was great advice, and over the past 35 years, that’s pretty much what my wife Tammy and I focused on. We wanted to make Johnson Pest Control a business…
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Dan Gordon and John Corrigan Provide Advice for PCOs Transitioning out of Their Business

Dan Gordon, president of PCO Bookkeepers – and John Corrigan, attorney with the law firm Corrigan and Baker, provide advice on how PCOs can successfully transition out of their business. The duo will be presenting as part of PCT’s Aug. 27 Mergers…
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[Business Strategies] Investing in Social Media

The use of social media is probably the most important business breakthrough since the Industrial Revolution. It has changed the way we buy, try and think about the way we do business. Social media can improve many areas of your business and is not…
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[Business Strategy] Making Retirement Plans Work

Come tax time, I’m often asked for advice on how to minimize taxes. One of the best ways to minimize taxes is to purchase assets that are needed in your company, such as vehicles or equipment prior to year-end. If you are a cash basis taxpayer, another…
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[Mergers & Acquisitions Supplement] Valuing your business

Why are we in business? To maximize the value our business — period! In so doing we create a great place to work, provide job security, create an environment where we provide great service for our customers and do business in a socially responsible…
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[Down to Business] Thinking Taxes

As the saying goes, the only two certainties in life are death and taxes. Both are unpleasant topics. However, there are certain strategies to employ that can minimize the effects of the latter. (You are on your own for the former.) This article will explore…
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[Business Issues] Surviving an IRS Tax Audit

I recently saw a survey that asked ordinary Americans the two situations that would instill the most fear and panic within them. The results from this survey were interesting. The most feared situation was an insect swarm and the second most feared…
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[Management Update] Open for Business

There are a variety of ways to legally organize a pest management firm. Choice of business organization should be one of the PCO’s earliest business decisions. However, once an owner or ownership group starts operating his or her business, many…
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[Social Media] Social Media Not Just for Marketing

When you hear the term “social media,” what does it mean to you? If you are like most PCOs, “social media” means the new frontier in marketing. With the rise and fall of the Yellow Pages as the most important advertising outlet in our industry, PCOs…
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[Business Finances] Tax Relief?

On December 17, 2010, President Obama signed a multi-billion dollar tax cut package, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. Political views aside, what does this piece of legislation mean for pest control…
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[Year-End Financials] The Tax Man Cometh

The more savvy you are when it comes to taxes, the more money you will have in your pocket at the end of the year. The tax code allows you to deduct costs of doing business from your gross income. What you are left with is your net business profit…
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[Cover Story] Professionals Sell Time

Woody Allen once said 90 percent of life is showing up. I would add that for the successful PMP, not only is it showing up but also charging the customer for the time you are there. What is so attractive about the pest management industry is its simplicity…
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[Cover Story] Motivating Your Workforce

Technician compensation programs profoundly impact a pest management firm’s organizational success. The way technicians perform their work is greatly shaped by how their total compensation system is designed, communicated and managed…
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