Category: Business

6 Things to Outsource to Save You Money This Year

Most small businesses start out on a budget and the small business owner tries to save money wherever they can, which means doing a lot of tasks themselves.  This can seem like cost savings at the time but in truth it can cost the business a lot of money in the long run.  Here are… Read More »

What you need to know about the new 1099-NEC

If you own a business or are a freelancer/subcontractor to businesses, you are most likely very familiar with the 1099-MISC form.  This form has been used for the past 30+ years to report certain payments including payments to subcontractors, freelancers, service providers, landlords and attorneys. As if there haven’t been enough changes in 2020, there… Read More »

How to Stay Connected When Working from Home

  I have been working from a home office for over a decade.  With the changes put in place right now and so many people being asked to work from home for the first time, cabin fever is going to become a very real thing.  There are a lot of articles about how to be… Read More »

When An Expense Isn’t An Expense

  As business owners and freelancers, we pay a lot of different vendors for a lot of different things.  Most of these payments wind up on our Profit & Loss / Income Statement as expenses.  But there are a few that do not.  And these are usually the ones I get asked about.  “Why isn’t… Read More »

5 Reasons You Should Take Time Off

“I haven’t had a vacation in years.”, is a sentence I’ve heard many clients and potential clients state throughout the years I’ve been in business.  As a small business owner myself, I understand how difficult it can be, especially if you are a one-person operation, to take time off.  You feel guilty that you’re thinking… Read More »

5 Things to Know about the New Tax Laws as a Business Owner

What do you as a small business owner need to know regarding the tax changes that took effect with the passing of the Tax Cuts and Jobs Act? Well, lets break down the top 5 changes that you should be aware of. Corporate tax rate has been lowered. If you have a C Corporation the… Read More »

5 Tips to Keep Your Side Hustle from Turning into a Major Headache!

It seems as if suddenly everyone has a side hustle. Your sister is selling essential oils, your brother-in-law is flipping houses, your cousin has a blog, and your kid’s soccer coach is on YouTube. Side hustles can be an excellent way to supplement income, to build a business without quitting your day job, or just… Read More »

Get To Know Your Financial Reports: The Profit & Loss Statement

The Profit & Loss or Income Statement is everyone’s favorite financial report. But do you really understand what is and isn’t included in it? And how should it be combined with the Balance Sheet for a clearer overall picture of where your business is financially? The first thing to remember about the Profit & Loss… Read More »

Get To Know Your Financial Reports: The Balance Sheet

The balance sheet is a financial report that’s loaded with information, yet often overlooked by business owners who want to know How much money did I make this year? Month? or Quarter? While the income statement often gets the most attention, the balance sheet is where you need to look to truly understand where your… Read More »