Time Management = Cash Management We’ve all heard the saying “Time is Money.” This is especially true when it comes to running your own business. As the main income producer in your business, it is essential that you work efficiently and effectively. Spending too much time on non-income producing tasks can have a negative effect… Read More »
Staying on top of your bookkeeping and knowing where your finances stand is one of the keys to running a successful, thriving business. Did you know there are some bookkeeping tasks that can be set to autopilot so you can spend less time worrying about your books and more time running your business? Here are… Read More »
Summer is not the time when most business owners are thinking about taxes. We tend to be more focused on vacations, barbecues, beach trips, employee outings, and all the amazing things that we love about summer. However, if you are willing to take a little time, there are a few things you can do now… Read More »
Many successful businesses began as a hobby and grew to be a business. But some businesses also become hobbies. Why? Because their owners stop treating them like businesses. Are you enjoying a hobby or running a business? How a Hobby Becomes a Business First, let’s take a look at how a hobby becomes a business.… Read More »
Are you spending so much time and energy trying to be an expert in every aspect of your business that you aren’t enjoying the benefits of running your own company? In this month’s blog, I discuss four professional services your small business should outsource. Fasten your seat belts. This discussion begins with some fast turns… Read More »
The terms bookkeeper, accountant, and CPA are often used interchangeably and frequently cause confusion to those not in the financial industry. Whether you’re hiring an employee or an outside consultant, it’s important to understand the difference between bookkeepers, accountants, and CPAs so you get the appropriate level of knowledge and experience—at the appropriate cost—for your… Read More »
If you’re like most business owners, you’ve started boxing up files, paperwork, and payroll records for 2016 to make room for what will come in 2017. These boxes can take up a lot of space and collect dust—whether you’re paying for off-site storage or keeping them in your office. Is there anything from 2016 that… Read More »
It is that time of year…Small business owners all over the country are spending time gathering information from their vendors and independent contractors, confirming paid amounts, and starting the process of sending 1099-MISC forms. Did you know that you can avoid filing 1099-MISC forms by simply changing how you pay your vendors and independent contractors?… Read More »
Accounting guidelines for holiday parties, gifts, and bonuses ‘Tis the season for giving. During the holidays, many businesses reward their employees’ efforts with holiday parties, gifts, or bonuses. Are you correctly accounting for these expenses? If not, you may be missing out on considerable business deductions. By properly managing your books during this season of… Read More »
In recent years there have been some significant changes to the rules regarding issuing a 1099-MISC Form. It used to be easy. If you paid someone $600.00 or more you needed to send them a 1099-MISC (Ok, so that is a bit of generalized statement) by January 31st, and the IRS copies by February 28th.… Read More »
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