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Scott Herckis is a Stamford, Connecticut, executive who leads SJH Financial, LLC, as CEO and offers client-centered CFO-outsourcing solutions specific to small-to-mid-sized businesses. A certified public accountant (CPA), he coordinates a comprehensive range of services that begin with data-driven financial advice. Whether the issue involves valuing a company or balancing payroll and revenue, Scott Herckis takes time to gain in-depth insight into core client challenges and objectives. Mr. Herckis completed his CPA license while operating within the audit and assurance department at Arthur Andersen, where he met the needs of major corporate clients. Prior to establishing his current firm, he held responsibilities as vice president of finance with the high-end women’s fashion brand Tory Burch, LLC. His position entailed oversight of receivables and payables, budgeting, and financial statement preparation. Mr. Herckis is known for his interpersonal skills and works closely with diverse stakeholders, from executives to venture funds. In all assignments undertaken, he is committed to implementing technology-driven operational improvements. Scott Herckis holds a bachelor’s in business administration from the University of Texas at Austin.

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SJH Tax Preparation Service for Small Businesses

A financial executive with over two decades of experience, Scott Herckis holds a BBA from the University of Texas. Since 2009, he has served as the CEO of SJH Financial, LLC, a leading provider of CFO outsourcing services based in Stamford, Connecticut. Under Scott Herckis' direction, SJH Financial offers comprehensive financial and accounting solutions, including tax services.

SJH offers personalized tax preparation for small and medium sized business owners. The tax preparation services encompass business tax and personal tax.

For business owners, leveraging options for tax efficiency increases after-tax profits while maintaining compliance with relevant tax laws. However, these strategies are often complicated, so SJH steps in to streamline the process. SJH helps businesses identify potential tax savings, track monthly sales and use tax, calculate quarterly estimated tax, file corporate and individual tax returns, and adjust tax payments to clients' needs.

SJH offers diverse financial services for small businesses, from tax preparation to financial restructuring. To determine how the firm may help your business, call [phone].

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Contract CFO Services by SJH Financial

Based in Stamford, Connecticut, Scott Herckis is a certified public accountant and a finance executive, bringing over two decades of professional expertise. He has held significant roles in various companies throughout his career. Holding a BBA from the University of Texas, Scott Herckis is the CEO of SJH Financial, LLC, providing small and medium-sized businesses with client-centered CFO-outsourcing solutions.

SJH Financial and Accounting Services helps startups fulfill their strategic advisory and financial management needs without a full-time payroll commitment to CFO services. Instead, the goal is to help startups access the resources and guidance they need to navigate the intricacies of finance in a temporary contractual arrangement based on need.

Contract CFO services by SJH deliver smart financial advice on call. From efficient budgeting to sales tax to finding venture capital, SJH welcomes all finance-related questions and provides data-driven answers to facilitate smart decisions. To request a consultation, visit SJHFinancial.com/contact/.

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Financial Forecasting for Businesses

Scott Herckis has gained extensive experience as a chief financial officer in the fashion and apparel industry over the course of nearly three decades. As the chief executive officer of the Stamford, Connecticut-based CFO-outsourcing firm SJH Financial and Accounting Services, Scott Herckis manages a range of financial and accounting services for business clients, including financial forecasting services.

The firm’s financial forecasting offerings support small and medium-sized business clients as they develop a more refined understanding of both their financial positioning in the present and potential opportunities in the future. These services can be personalized to meet the individual goals and risk profiles of each business owner.

Financial forecasting can also help business owners understand how profits are being spent and provide insight into methods of streamlining operations and optimizing margins. Similarly, forecasting allows business owners to compare their margins against those of industry competitors. Over time, financial forecasting should yield a more dependable cash flow for business owners, as well as more accurate budgeting for materials and services.

Financial forecasting represents just one of many of the firm’s financial and accounting offerings. To learn more, please visit sjhfinancial.com.

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Connecticut’s SJH Financial Serves Small and Medium Businesses

As the chief executive officer of SJH Financial in Stamford, Connecticut, Scott Herckis offers a wide range of accounting and other business services to small and medium-sized corporate clients. Mr. Herckis provides clear and objective explanations of the complexities of starting a new business. SJH also helps charitable organizations deal with the special financial circumstances of the nonprofit sector.

SJH’s work includdes tax preparation and tax savings. The firm processes monthly sales-and-use taxes and forecasts quarterly levies. The company also files corporate and personal returns for business owners.

Expansion is another crucial aspect of staying in business. An SJH consultation can help determine the best moment to bring on new employees, upgrade a website, or fund other growth-related actions. Functioning as a business partner, SJH can analyze profit margins and compare them to the competition’s.

The firm can help maximize revenues. In one case, for example, it discovered that an owner had overlooked substantial income by being closed on Sundays.

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Overview of Professional Services from SJH Financial of Connecticut

Serving as the CEO of SJH Financial, Inc., in Stamford, Connecticut, Scott Herckis offers a variety of accounting and business planning services. Priding himself on providing independent and objective advice, Scott Herckis helps clients plan for their next three to five years of operation while maximizing their return on investment. He tailors his consultations for small to medium size companies that may not be able to support a full-time chief financial officer.

SJH Financial deals with the many questions owners face, such as determining the most appropriate profit margin and raising venture capital. The firm can also help clients strike a balance between the amount of business a new employee brings in vs. the cost of hiring them. SJH also assists its customers with corporate and personal taxes, tax savings, bookkeeping, and expansion.

The story of one local marketing agency illustrates how SJH can improve the bottom line. Its owner needed to understand how much each of the firm’s 20 customers contributed to profits. Using software that tracked how many hours each employee charged to each customer, the owner discovered that some employees undercharged and some overcharged. Using the results, the company was able to assign the optimal amount of time to each customer.

For more information on SJH’s benefits, please contact him at [email protected] or call [phone].

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The AICPA’s Ethically Speaking Podcast

The CEO of SJH Financial in Stamford, Connecticut, Scott Herckis holds a bachelor of business administration in accounting from the University of Texas at Austin and holds a certified public accountant (CPA) license. Scott Herckis is also an active member of the American Institute of CPAs.

Together with its partner organization the Chartered Institute of Management Accountants, the American Institute of CPAs (AICPA) represents a membership base of roughly 689,000 professional accountants and accounting students. In addition to advocating for best practices and business sustainability in the accounting sector, the AICPA educates and informs its members and the general public through various initiatives.

The AICPA offered news and commentary through several podcasts including Ethically Speaking. Formerly a popular AICPA newsletter, Ethically Speaking has been delivering content in podcast form since March 2019.

Covering industry ethics with a particular focus on independence guidance, Ethically Speaking provides regulatory updates, information, and insights that involve ethical behavior in the accounting sector. It also allows listeners to share their ideas with a large audience.

Ethically Speaking typically releases between two and five episodes monthly. Episode topics include Jun 3, 2022’s “EDs on the go: Compliance audits and other revisions” and Sep 2, 2022’s “Can software patches for your clients impair independence?”.

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The Finance and Accounting Outsourcing Market Outlook

A certified public accountant with over 25 years of experience as a finance and operations executive, Scott Herckis held key leadership positions in established companies as well as startups. As the CEO of SJH Financial and Accounting Services LLC, Herckis offers outsourced financial and accounting solutions to individuals and small and medium businesses.

Finance and accounting outsourcing will be a critical function in the marketplace as the world economy begins to rise from the effects of the COVID-19 pandemic. According to the “Global Finance and Accounting Outsourcing Industry” report by ReportLinker, the global finance and accounting outsourcing market is expected to grow to $53.4 billion by 2026. Using the 2020 market estimate of $37.9 billion as the baseline, the growth is at a compound annual growth rate of 5.9 percent.

In the US, the finance and accounting outsourcing market was valued at $18.3 billion in 2022, which is equivalent to a 45.7 percent global market share. As tax exemptions are gradually eliminated from offshore facilities, the report said that local, state, and federal governments are expected to drive the demand for nearshore outsourcing services to take advantage of the decreasing effectiveness of offshore centers. There is a high preference for nearshore facilities for critical finance and accounting services such as corporate budgeting and tax preparations, investigation of accounting issues, and financial analysis and planning.

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Perfect Travel Camera

Whether you’re backpacking around South America or sailing the Pacific, a camera is a must if you want to record and share your experiences.

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Services Offered by Outsourced CFO’s

Scott Herckis serves as CEO of SJH Financial, a custom financial services firm based in Stamford. A BBA holder from the University of Texas at Austin, Scott Herckis specializes in offering CFO outsourcing for small and medium-sized businesses. Hiring an in-house CFO can be extremely expensive for small and medium-sized businesses. Hence, outsourcing CFO services offers business access to a skilled and knowledgeable expert at a considerable fee. Various situations drive a business to engage with a CFO. This may include when planning to expand a business, undertake large capital investments, or struggle with overall financial management. CFOs offer various vital services to businesses: budgeting and planning by developing extensive financial projections. A CFO also helps businesses to manage their cash flow by offering help in optimizing invoicing and accounts receivables to ensure there is cash for day-to-day expenses. Another service is KPI tracking which helps a business track its growth and performance. Other essential services include financial reporting, forecasting, strategic planning, and risk management.Close

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Meaning of Competitive Advantage in Business

The CEO of SJH Financial, LLC, Scott Herckis, received his BBA in accounting from the University of Texas at Austin in 1993. After earning his degree, he served as the financial vice president for various leading fashion companies, including Tory Burch and Elie Tahari. Drawing on several years of experience providing chief financial officer services for multiple businesses, Scott Herckis is knowledgeable about various business concepts. A business with a competitive advantage generates more sales than its rivals (other businesses that offer similar operations). Competitive advantage results from a combination of factors that may include an effective cost structure, a flawless distribution network, and quality product offerings. There are two types of competitive advantage - differential advantage and comparative advantage. A business has a differential advantage when it offers products or services with superior features missing in other similar products or services. Superiority can come in various forms - ranging from advanced technology to a stronger brand identity. On the other hand, comparative advantage is the advantage that results from the use of a more efficient production process. When a firm produces a standard product or service at a much lower cost than its rivals' cost for similar operations, it has a comparative advantage over them. The low cost can allow the business to offer the product or service at a lower price than its peers without hampering profit, resulting in a large customer base.

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Benefits of Sensitivity Analysis

A certified public accountant and CFO who leads SJH Financial as CEO, Scott Herckis holds a BBA in business from the University of Texas at Austin. As a professional in the finance industry, Scott Herckis is knowledgeable about various financial models, including sensitivity analysis. Sometimes called simulation analysis, sensitivity analysis is a type of financial model that businesses use to determine the causations between target variables and changes in certain input variables. In this model, various changes are made to input variables, and the resulting changes on target variables are evaluated. Using this model, analysts can determine how changes in certain variables affect other variables. Because sensitivity analysis takes a rigorous approach, the model is considered an in-depth study of all variables and can provide reliable information. Business executives and financial officers, for example, can use this model to identify where improvements can be made to existing operations.

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Is It Possible to Outsource CFO Services?

For nearly three decades, Scott Herckis has worked in finance and operations at both start-ups and established businesses. As the CEO of SJH Financial, a Stamford, Connecticut based CFO outsourcing firm, Scott leads the company's efforts to provide small and medium-sized businesses with chief financial officer services. In the modern era, where a business is likely to need multiple departments and operation units to meet operational demand, it is common to see various functions outsourced. Many companies outsource their IT, payroll, and marketing, so it's not surprising to find outsourced C-level executives as well. In this area, chief financial officers are not exempt. An outsourced CFO is a third-party executive that works with a company to bring solutions—primarily financial and operational guidance—to the company. Many companies, especially startups, need the services of these finance professionals for different reasons. Most startups set out with a relatively small number of employees due to hiring costs. Since these few staff members (which may only consist of the business founders) must deal with a significant workload by themselves and may not be sufficiently experienced in how to manage finance, help from an outside professional in this field would help. Outsourced CFOs have the experience required to help new businesses with limited resources accomplish more.

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Writing a Solid Competitive Analysis

Finance professional and licensed CPA Scott Herckis holds a bachelor’s in business administration from the University of Texas. In 2009, Scott Herckis founded SJH Financial, LLC, which provides financial strategy and accounting for small to medium-sized firms. In this role, he works with companies to develop effective business plans. A business plan outlines how a company will set and meet its objectives. Lenders and investors analyze a company’s business plan to determine if the business is viable. Most business plans describe the company’s approach, product or service, and marketing strategy. To make a more persuasive argument, many business plans also include a comparison between the company and its closest competitor. This portion of the document is known as the competitive analysis. A good analysis will showcase the company’s advantages and how these will prevent current and potential competitors from taking away market share. The plan may also show cost-effectiveness or appeal to a different consumer segment. In addition, a competitive analysis may give details into how a company will protect its products from infringements or copying.

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What is Estimated Tax?

For more than a decade, certified public accountant Scott Herckis has assisted his clients in navigating important financial and investing decisions. Scott Herckis also provides tax preparation services for businesses and individuals. Some tax filers are required to pay taxes four times a year. This type of tax is known as an estimated quarterly tax. Most people who fall into this category are either self-employed or receive income that is not taxed at the source. The IRS requires individuals whose tax liability will exceed $1,000 to pay at least the equivalent of the previous year’s taxes in upfront payments. Filers who fail to do this may incur an underpayment penalty when they file their annual return. While it is acceptable to pay the estimate at the end of every quarter, some tax experts advise applying any refunded taxes to the next year’s estimated tax. This practice can reduce cash flow issues throughout the year while ensuring a portion of the tax is paid ahead.

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Income Taxes for Single-Member LLC

Since 2009, Scott Herckis has served as the CEO of SJH Financial, LLC, a Connecticut-based CFO-outsourcing firm for small and medium-sized businesses. Under Scott Herckis’s guidance, Scott Herckis provides individuals and businesses with comprehensive and accounting solutions which include financial reporting and tax services. A limited liability corporation (LLC) is a corporate structure that shields business owners from personal accountability for the firm's debts or liabilities, and profit-mediated taxes. Owners of LLCs are called members. The fact that members are not taxed based on profit does not mean that they are completely tax-exempt. The owners of an LLC may be liable for a variety of company taxes. The most significant financial burden for most business owners is federal, state, and local income taxes. Whether an LLC has one owner (a single-member LLC) or multiple owners (multi-member LLC) affects how it files and pays income taxes. For federal income tax purposes, a single-member LLC is treated as a disregarded entity by default. The LLC is considered a disregarded entity if it is not obliged to submit a separate income tax return to disclose its earnings and expenses. The member's income and spending will be reported on their tax return. An LLC's sole member reports business income and costs on Form 1040, Schedule C. If the LLC makes a profit for the year after deducting business expenditures, taxes will be due to the IRS by the member at the rate of their individual income tax. If the LLC loses money for the year, the losses of the firm can be deducted from the member's personal income.

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Payment of Retirement Benefits

Certified Public Accountant Scott Herckis is a Connecticut-based financial executive who holds a BBA in business from the University of Texas at Austin and currently serves as CEO of SJH Financial, LLC. Prior to joining SJH Financial, LLC, Scott Herckis served as Chief Financial Officer at Charles Nolan Apparel, LLC, where he was in charge of the company’s corporate business insurance, as well as health and retirement benefits. Many plans incorporate specific provisions or adopt particular administrative processes to address this risk, such as specifying that an employee will not be rehired until he or she is no longer employed with the business for a specified period of time. Some plans additionally include administrative processes that stipulate that an employer would only rehire someone utilizing the services of a third-party staffing firm and only if the necessity for rehiring was not anticipated at the time of retirement. Employers that suddenly find themselves in the position of having to rehire retirees owing to unanticipated circumstances presented by the COVID-19-related labor shortages can do so without fear of plan disqualification, based on what's contained in the new IRS guidelines. Employers have the option of rehiring retirees and, if the plan allows, continue to pay them retirement benefits while the employee works after being rehired, as long as the initial retirement was genuine and the rehire was not pre-arranged at the time of retirement.

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JD Edwards Software - Robust and Reliable ERP Tool

A resident of Stamford, Connecticut, Scott Herckis is a seasoned financial executive and CPA who guides SJH Financial, LLC, and provides small and medium-sized businesses with client-centered CFO outsourcing solutions. Additionally, Scott is proficient in various software programs, including Microsoft Excel, Word, Outlook, and JD Edwards Software. The web-based enterprise resource planning (ERP) solution Enterprise One (E1) is used by the majority of firms that use JD Edwards (JDE) ERP. In 2018, the less popular version, JD Edwards World, accounted for only 9 percent of product usage. Over the course of more than three decades of supplying JD Edwards software, the product has earned a reputation for its dependability and stability. The software JD Edwards ERP is powerful in terms of its breadth and depth of features. JDE contains about 80 application modules in total. Financial management, project management, asset lifecycle management, customer relationship management, and human capital management are all included in JD Edwards' functionalities. The product team at JDE continues to invest in software development and advancements. Cloud capabilities, one-view reporting, and mobile apps (for individuals who prefer mobile over desktop platforms) are some other noteworthy JDE features.