@PeteCarlsonRock Profile picture

Pete Carlson

@PeteCarlsonRock

Small Business & Finances…P&L and Balance Sheets are cool #SKIUMAH

Joined September 2022
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Owning your own business and having good systems/numbers means freedom. More time to spend with family, friends, & sometimes golf 😉. Accounting doesn't need to be hard, need to have the right partner. Know your numbers! #Accounting #remotework

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Great year for the Gophers, so close to having a really special year, handful of plays that didn't go the right direction. Let's end on a high note! #betterdeadthanred #skiumah

Happy Monday to everybody except Wisconsin.



Interesting chart...includes all taxes.

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Agree, this is not necessary. Hopefully they fix it soon. Let’s make things simpler and fairer, it’s hard enough being a #SmallBiz owner.

If neither Congress nor the Trump admin acts quickly, in a matter of weeks, millions of small businesses may be subject to jail time and massive fines because of CTA BOI rule non-compliance. If you aren't familiar with this unconstitutional rule, it treats #small biz like…



What a mess......

Price Increases over last 4 years... CPI Medical Care: +9.0% CPI Apparel: +12.3% CPI Used Cars: +14.0% CPI New Cars: +19.7% CPI Food at home: +22.3% CPI Shelter: +23.9% CPI Food away from home: +25.0% CPI Electricity: +30.4% CPI Gas Utilities: +32.2% CPI Transportation: +42.6%…



CFO election hot take………………. Numbers are fun and important.


Accountants wear a lot of hats - part therapist, part detective, part teacher. Crucial relationship to every business owner.


Revenue is vanity, profit is sanity, cash is king! #CFO #IntuitConnect


The government's response to COVID screwed the middle class over the past 3-4 years. Proof 👇👇 Nothing you can do about it now besides put your head down and work through it, printing $ has consequences.

The share of middle-income households with 40% or higher debt-to-income ratios on new mortgages is rising nationwide, per Bloomberg:

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Whether you are saving personally or for a business, spending less than you make is the biggest generator of wealth over time. #selfcontrol #discipline

Median growth of $100k invested in the S&P 500 over... 1 Month: $101k 1 Year: $113k 3 Years: $138k 5 Years: $173k 10 Years: $270k 20 Years: $820k 30 Years: $2.27 million Video: youtube.com/watch?v=kci9xi…

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Pete Carlson Reposted

Business growth lives or dies by working capital. Two business A & B: Both have the same P&L unit economics Base Sales = $500k per month Operating Profit Margin = 10% Both start with $1m cash in bank. Both hit a growth vein. Sales start growing at 15% per month. Assuming no…

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Accountants can either suck value or add value. If you think they can only suck value, you may be part of the problem. CFO oversight is crucial to make sure the accounting team is prioritizing in the right spot at the right time. All data usually flows from the right…


Engaged/curious accountants perform more value for clients than check the box accountants. Engagement is crucial when selecting an accounting partner! Real $ at stake when a business picks an accounting partner.


This is a great summary of what it takes to exceed at the highest level in the accounting business. You need to be hungry, work hard, and focus on bringing value to your clients every day. Smaller firms have a competitive advantage over bigger firms if you have good technical…

Here are my thoughts on what it takes to make partner: To make partner, you have to understand value and leverage. Most large firms run at a 26% net margin. If you want to make $500k, you likely need to drive $3-4M of value. Why? Assume you manage $3M. 26% net margin =…



Proof that midwestern people are nicer #VPDebate2024


Proof there is consequences to printing excess money

UNITED STATES: Zillow reports that the income needed by home buyers to comfortably afford a home is 'up 80% since 2020', from $59,000 annually in 2020 up to $106,000 currently.



🤣🤣🤣

TikTok tax gurus vs legit tax pros



Pete Carlson Reposted

Caitlin Clark getting more viewers on ION than a WNBA finals rematch on CBS is actually crazy

TikTok tax gurus vs legit tax pros



Pretty amazing stat, #SmallBusiness grind is real. It gets easier as you grow if you have the right systems, people, and financial reporting/metrics.

Around 4% of US businesses ever exceed $1M in annual revenue. You can either take your shot hoping yours will make the 4% or... You can buy a "top 4% company" and profit from day 1. I know my choice.



Yet we have the same or worse problems…. 🤔

US Federal Government Spending as % of GDP... 1950s: 17% 1960s: 18% 1970s: 21% 1980s: 22% 1990s: 21% 2000s: 20% 2010s: 23% 2020s: 27% Video: youtube.com/watch?v=R-DOZv…

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I love this photo. Wow.

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