Why You Can't Afford to Be Bad at Bookkeeping
Maintaining your books isn't something you should do solely as a tax-savings strategy; it can also prevent you from losing your sanity and getting dragged into a potential lawsuit over commingling your funds. Here are five significant reasons for maintaining a separate checkbook and set of books for each of your businesses:
Accounting Software: Does Your Small Business Need It?
Some startups and small businesses may be able to get by with payroll software and a billing & invoicing system. However, investing in a full accounting suite from the beginning will save you headaches as your business grows and your financial picture becomes more complex. Accounting as a whole can take time and, as we all know, time is money.
How to get a bigger tax refund from the IRS in 2021
It’s about to get a little easier for you to figure out how to break even or get a bigger tax refund from Uncle Sam.
3 Major Benefits of Updated Bookkeeping and Accounting Records
Last week in a discussion with a business coaching client, I asked if she had updated bookkeeping and accounting records that would help her make the best business decision for a big question about her business. “No,” she replied, she didn’t have updated books. Without them, any decision regarding product lines, pricing or customer capacity is just a guess!
What Are the Income Tax Brackets for 2020 vs. 2019?
Tax planning is all about thinking ahead. So, now that the IRS has released the new tax brackets for the 2020 tax year, you can (and should) start thinking about how to handle your 2020 finances in a tax-efficient way—even though you haven't filed your 2019 tax return yet.
5 Tips for Expanding Your Small Business (The Right Way)
Many small-business owners want to grow their companies, and they want to do it fast. But if you rush into expandsion without a plan, you risk losing everything you’ve worked so hard to build. Take Wise Acre Frozen Treats, which hired too many employees and bought too much equipment before they had the revenue or startup capital they needed; the company went bankrupt in just a few years.
A Simple 6-Step Process to Starting a Small Business
A great small business always starts out as an idea, but you have to transform that idea into action. That’s where many individuals can start to feel overwhelmed. It’s understandable to freeze up at the deluge of things that are required to get a business started, but getting going is actually easier than you might think.
Delegation 101: How Entrepreneurs Can Boost Employee Productivity
If you’ve started a business, you know you have to wear multiple hats. In fact, you do a number of jobs you never imagined yourself doing.