Good Bookkeeping is Essential to Your Small Business Success

Good Bookkeeping is Essential to Your Small Business Success

By | Accounting Advice, Small Business Advice

Wouldn’t it be nice if you had the secret to bookkeeping for small business success? It turns out that it’s not just one thing but several that you need to do to ensure that your business stays in the black. If you’re not up to the bookkeeping task yourself, make sure that you hire someone to keep up with finances immediately after launching your business. You don’t want to deal with not having your finances in order come tax time…

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How to Plan to Sell Your Business

How to Plan to Sell Your Business

By | Accounting Advice, Small Business Advice

Whether you’re planning to retire or move into another line of work, the time may come when you choose to sell your business. Taking the time to plan your strategy now is essential to ensure that everything goes smoothly when it’s time to transfer ownership to the buyer.   Does Your Estate Plan Include the Use of Trusts? Assuming you have already established an estate plan, it’s a good idea to incorporate one or more trusts into it. Trusts offer…

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Every Business Needs a Budget

Every Business Needs a Budget. Here’s Why and How to Make the Best One.

By | Accounting Advice, Small Business Advice

Many business owners would rather do just about anything else instead of creating a budget. At the same time, they know how essential it is to reign in expenses and ensure that the company remains profitable. Setting priorities for the business is another important aspect of creating a budget. It lets all employees know with one glance which things are the most important things to spend money on as well as the things that can wait until cash flow improves….

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Financial Tips for Small Business Owners

Top Three Financial Tips for Small Business Owners

By | Accounting Advice, Small Business Advice

When you decided to start a business, you did so because you felt passionate about offering a unique product or service. It might have never occurred to you how much accounting and bookkeeping work you would need to do as well. Unfortunately, some new business owners become so overwhelmed by financial tasks that they ignore them or do them incorrectly. Not only can this lead to prompt business failure, it can cause tax problems with long-term implications.   Separate Your…

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Which Business Structure is Right for My Company?

Which Business Structure is Right for My Company?

By | Accounting Advice, Small Business Advice

It’s very important that you choose the right company structure when starting out in the business world. There can be a great many impacts on your company which are all devoutly derived from the structure that you choose to do business under. For instance, your taxes will be strongly affected, your ability to raise money for the company will be affected, and if you happen to be sued, company structure will have strong implications there also. In order to make…

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Costly Payroll Mistakes to Avoid

By | Accounting Advice

People can be forgiving when others make mistakes until it happens with their paycheck. Then there’s little room for error. Not only will you have unhappy employees on your hands, you could find yourself in trouble with the Internal Revenue Service (IRS). It’s better to take the time to learn how to avoid a mistake than to deal with the consequences of it. We discuss some of the most common payroll mistakes below. Misclassification as an Independent Contractor A person…

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