It continues to amaze me how many businesses don’t want to create a budget. They would rather operate their business blindly than to create a profitable plan so they can prosper in the upcoming year. Not having a budget can cost you a lot of time and money. Unnecessary time and money. So I am…
This is a question that gets asked often. And it surprises me how many business owners consider themselves solo-preneurs, even with revenues well over $0.5m and even as high as $1m. So first let’s define each one. A solo-prenuer is someone who work for themselves and pretty much by themselves. They are the Chief Everything…
We are all in business to make money right? But we are not in the business of paying Uncle Sam. We want to keep as much of our money as we possibly can, especially from him. So as a small business owner, what do you do? You learn the difference between cash basis and accrual…
Every year a gazillion tax preparers and tax accountants lock themselves in a room from mid-January until April 15th and push out as many tax returns as they possibly can. Tax returns that show you how much money you owe Uncle Sam or how much he owes you if you’re lucky. Included with your return,…
Every person in the world feels that they do not have to do right by the tax man. So why would you think someone running a business would be any different? Every day business decisions are made that revolve around cash flow and who always gets the short end of the stick? The owner’s salary…
Everyday we wake up and go to the office to earn a paycheck. Whether it’s a paycheck as an employee or a paycheck as the owner of our own company. Our goal is to make income/money so that we can support our families. And maybe even a little entertainment as well. All work and no…
In order for your business to grow you need to be monitoring your metrics. You cannot expect your business to magically take flight if you have no idea what is going on in it. And by going on I don’t mean just in operations because that is just one side of the house. You need…
During the past year some of my clients along with myself have experienced some legal woes that have had major effects on our bottom-line. These lessons range from small to large. The bottom line is as a business owner you have to be sure that you protect yourself. You have to be sure that you put…
Accounting is one of the most important aspects of any growing business. Keeping abreast of all the financial developments in your company is difficult but necessary for a lot of reasons. Organization, of course, is key to the success of any accounting department. Even if your company doesn’t have an established accounting department, it’s important…
Well it’s that time of year again – Tax Time! And the very first filings that have to be done are the quarterly returns for the last quarter of last year. You also need to prepare and distribute W-2s and 1099s. Before you start preparing these forms you need to get a few ducks in…
