Ask any small business owner what their biggest sources of frustration is and you’re likely to hear the words “cash flow.” If you don’t have the working capital you need, unplanned expenses and simply purchasing inventory can leave you constantly playing catch-up. Improve Your Business Cash Flow with A Revolving Credit Line A revolving line of credit is one possible solution to this common dilemma. Revolving credit differs from a lump sum loan in that you access the line of…
If there’s one thing you can count on as a small business owner, it’s that tax and business laws change every year. Although 2018 is just weeks old, it has proven to be no exception so far. The first is the Tax Cuts and Jobs Act that affects both business owners and individuals. Because this law went into effect on January 1, 2018, it does not affect your tax returns for 2017. Here are the main provisions you need to…
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…
Every company desires to have a positive company culture for employees, but many don’t know how to make that happen. A lack of clear direction and transparency can breed many workplace issues. The most common ones include: Management that makes decisions in secret and then demands employees abide by them with little to no input from them. Management shares little information with employees that would help them understand the company’s vision and current performance. Rewarding poor or unethical behavior while…
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