Running your own business presents unique opportunities for you to be your own boss, bring your entrepreneurial vision to life, and direct your financial future. But to avoid being among the 20% of small businesses that fail […]
Understanding your company’s financial position is integral to its success. One tool that can help you is financial reporting, which is an objective way to assess your company’s financial health. Financial reporting results in a financial […]
Industry newcomers tend to use the terms “bookkeeper” and “accountant” interchangeably, but there are a few important distinctions between the two. Bookkeeping focuses on managing financial books by documenting transactions, managing accounts, and recording financial data. […]
It’s nearly that time of year again: tax time. Preparing your taxes may seem like an annoying task that distracts you from running your business, but filing an accurate return can reduce the risk of […]
To build a great team, it’s important to retain your best employees. One of the most influential factors in keeping employees happy on the job is offering benefits. Managing benefits can be tricky and costly for a […]
It seems that tax season has a way of sneaking up on us every year. Avoid scrounging for old receipts and scrambling to reconcile your books while trying to run a business by familiarizing yourself with important […]
Gross margin is the amount of money a small business holds after subtracting the direct cost of producing its goods and services from the revenue they earn. When it comes to increasing profitability, managers […]
As your small business grows, so will your to-do list, including opening a small business bank account. Managing cash can be a challenge, so you may want a bank that offers more than just free […]
Where did your cash go? You started the year with a sufficient cash balance, and you’ve been profitable each month. For some reason, the year-end cash balance is lower than where you started. […]
The number one thing you should get help with when starting a business is setting up financial systems, according to a recent QuickBooks survey of 965 seasoned small business owners. They recommend bringing in an expert […]
As a small business owner, we know you’ve got a lot on your plate. Between managing supplies and satisfying customers, the last thing you need to worry about is an accounting error (or any […]
It’s nearly that time of year again: tax time. Preparing your taxes may seem like an annoying task that distracts you from running your business, but filing an accurate return can reduce the risk of […]
To build a great team, it’s important to retain your best employees. One of the most influential factors in keeping employees happy on the job is offering benefits. Managing benefits can be tricky and costly for […]
Financial losses from a product defect, data breach, serious illness or work-related automobile accident can force business owners to close their doors if they’re not prepared. The cost of an unexpected event can be substantial. Hiscox quotes a […]
It’s that time of year again: tax time. Preparing your taxes may seem like an annoying task that distracts you from running your business, but filing an accurate return can reduce the risk of paying […]
Running your own business presents unique opportunities for you to be your own boss, bring your entrepreneurial vision to life, and direct your financial future. But to avoid being among the 20% of small businesses that fail […]
A company’s balance sheet is one of several important financial statements that report on its performance. But to understand the importance of a balance sheet, you need to understand the balance sheet equation and the […]
California can be a great place to start a business, and the state supports small business owners. According to Business News Daily, “California is home to more than 4 million small businesses, which employ 7.1 million people across […]
Filing your taxes as a W-2 employee can be overwhelming. But, when you’re self-employed, the labyrinth of paperwork and potential tax deductions creates a tax situation that’s enough to give even the most laid-back freelancer heartburn. Whether you’re […]
Managing a small business involves risk. A fender bender in the company car, or a customer slip on a wet office floor, can create business liability. Whatever’s gone wrong, there is a right way to handle […]
Financial losses from a product defect, data breach, serious illness or work-related automobile accident can force business owners to close their doors if they’re not prepared. The cost of an unexpected event can be substantial. Hiscox quotes a […]
It can happen to any small business owner — arriving to work only to find property damage, stolen equipment and months of work undone. Nobody can predict when the unexpected will occur, but you can plan for […]
What tools do you need to operate your business? How much funding will you need? Should you carry inventory? The answer depends on the size of your business and your industry. You need to invest […]
Certified payroll is a weekly payroll report. If your business works on federally funded projects as a contractor or a subcontractor, you are required to submit weekly reports to the U.S. Department of Labor. The […]
Collect more cash in less time. How much would your business improve if you could get cash faster, without a huge investment of time? To reach this goal, many companies use technology to automate the invoicing […]
Managing your work as a self-employed person can be hectic. You have to market yourself, deliver a product or service and handle dozens of other tasks. Because they’re so busy, many freelancers don’t invest the […]
What is the true cost of the products and services that you sell? Now, that may sound like an odd question. After all, you generate and review your income statement each month, which reports the total costs […]
Something isn’t working. You did all the right things when you started your small business. You found a customer problem that needed to be solved, and you wrote a detailed business plan for your new […]
Does your tax return include all of your business expenses? If you’re self-employed and work out of your home, you may not be taking full advantage of the home office deduction. Figuring out the tax deduction […]
Many people don’t work well under pressure, and you may face a time crunch to complete your personal tax return. It’s never too early to start preparing for your tax returns. So, before you let […]