Days shouldn’t be spent on financial administration. If you’re a small business owner that thinks you can save money by handling finances yourself, think again. That’s because bookkeeping and accounting are no easy feat. Everything from monitoring revenue to tracking expenses, and filing taxes is tedious and difficult work. When not done properly, it can [...]
First-time owners often mismanage money. Entrepreneurs have a lot on their plates. They have to navigate ever-changing markets, product launches, inventory, staff, and so much more. But, managing all of these things is no easy feat. This juggling act is often the reason why so many first-time owners fail. In fact, according to the SBA [...]
If you’re self-employed, don’t forget to grab a copy of your receipt. If you’re self-employed, taxes are likely not the first thing on your mind each day. But, ignoring your tax situation could be costing you. That’s because the purchases you make could be eligible for a tax deduction. Things like company meals, home office [...]
Filing your taxes shouldn’t cause a headache. The last thing you want to feel is stress when tax time rolls around. That’s why, given all the paperwork, documents, and information that needs to be gathered, the preparation should begin far in advance. If you haven’t begun this year’s prep, don’t stress - that’s why we’re [...]
Are your 1099 Forms prepared for the year? Also referred to as “information returns”, the 1099 form is a series of documents issued by the IRS. But what are they used for? And who needs to file? If you don’t know these answers, we got you covered. Continue reading below for a helpful guide on [...]
Business owners need accountants. Accountants are often used to determine the financial state of a company. They are able to identify a business’s cash flow, debt, production costs, and so much more. Without this information, owners won’t be able to plan for the future or make informed business decisions. Plus, missing data can even give [...]
There’s a lot to consider when it comes to managing a business. For most business owners, money is top of mind. Whether it’s payroll, upping the inventory, monthly bills, or new equipment; keeping track of how much they have and where it’s going is constant. Despite its importance, many owners struggle when it comes to [...]
Debt shouldn’t be the only thing on your mind. As an owner, there is a ton of pressure to make sure your books are balanced. But there are times when debt may begin to take over and it’s all that you can think about. Whether it is caused by something like a recession, industry changes, [...]
Maintaining a balanced book is no easy feat for business owners. Even the smallest bills for a business can quickly add up. Oftentimes, leading to increased debt and outstanding accounts. But there are plenty of things businesses can do to prevent this from happening. Things like deductions, planning, implementing lean management practices, and more can [...]
Year-round tax planning can save you time and energy. It should come as no surprise that taxes are due each year. But, every tax season there are tons of people unprepared to file. These last-minute submissions often cause an increase in stress, errors, missed deadlines, added fees, and interest that could have been avoided. [...]
