Everything we do is focused on the core belief that we succeed in life by helping others succeed. This letter is one complimentary piece of our intense planning and research effort throughout the year to help in your success. Feel free to share it with anyone you know who could benefit. Big Tax Changes for 2018: Changes in the tax law generally last only until the next time there is a change in the party in power. Whether you…
The short answer to this question is – no. However, it has really become increasingly difficult to obtain a small business loan, and to realize your dream of having a small business enterprise grow into a major one, which can be a source of pride and profit for years to come. The reason it has become so difficult to obtain a small business loan is that many of the criteria used by lenders have been tightened considerably in recent years,…
Every small business has to set up an accounting cycle in order to manage its financial transactions. The accounting cycle starts by establishing your accounting system for the period, and at the end of the accounting cycle, you’ll be ready to close the books on that period so you can prepare for the next one. Here’s what’s involved with setting up your small business accounting cycle. Develop a chart of accounts As part of your accounting and bookkeeping system requirements,…
Even though most people realize that it takes considerable work to launch a business, many still underestimate the sheer multitude of tasks they must complete before officially opening their doors. One common mistake is for entrepreneurs to rush to open their new business without first testing the market to determine if there is enough demand for what the company will offer. In fact, this is one of the leading reasons that more than 60 percent of new business owners must…
If you own or work in a small business, you should have heard of a balance sheet by now. Perhaps you pay little attention to the term, thinking that it’s something for only your accountant to handle. However, a balance sheet encompasses more than just a spreadsheet that you look at every few months and then promptly file away. When used correctly, it can help you manage your business better and see greater profitability. What Can You Find on a…
Apart from the fact that it’s just good business practice, there are a number of reasons you should keep your business records organized and safe. Many companies have business records which contain sensitive information about clients, and some information is essential for smooth business operations. If you’re still living in the Dark Ages of record-keeping, with rows of filing cabinets and boxes bursting with documents, you are setting yourself up for confusion and inefficiency. Here are some things you can…
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…
In the most recent survey of small business owners, conducted on the topic of available manpower for current positions, it was discovered that more than 16% of owners considered their number one problem to be finding and retaining qualified employees. The same survey showed that almost 1/3 of all small business owners say that they plan to hire during the next 12-month period, which represents the second highest figure cited during the 14 years the survey has been conducted. This…
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