10/3/23 — Key Questions to Ask When Outsourcing to a Bookkeeper
As your small business grows, outsourcing your bookkeeping to an experienced provider can be a strategic choice. But finding the right partner requires asking the right questions upfront. Over the years, I’ve made mistakes choosing the wrong outsourced bookkeeper, resulting in headaches down the road. I’m here to help you avoid similar pitfalls! In this […]
9/19/23 — Choose Your Business Structure or “Legal Entity”
Picking the right business structure is a foundational yet complex decision when starting a new company. The business structure you choose will have long-term impacts on everything from day-to-day operations, to taxes, to your personal liability exposure. With options like sole proprietorships, partnerships, LLCs, and corporations, how do you know which one is right for […]
9/5/23 — Summer Financial Health Check: Assessing Your Business’s Financial Well-Being
Do a Summer Financial Checkup for Your Small Business Summer is prime time to assess your business finances and make data-driven decisions to finish the year strong. Follow these 5 steps: 1. Analyze Revenue and Expenses Review income and expenses from the first 6 months. Identify trends in your financial statements. Compare actuals to […]
8/29/23 — The Benefits of Hiring Independent Contractors for Your Business
Should You Hire Independent Contractors for Your Small Business Needs? As an entrepreneur, you regularly evaluate whether to hire employees or utilize independent contractor services. Understanding the benefits of contractors can inform your staffing strategy. Significant Cost Savings Independent contractors offer notable cost reductions compared to employees. You avoid paying for benefits, payroll taxes, insurance, […]
8/22/23 — Bookkeepers vs. Accountants vs. CPAs: Unraveling the Distinctions
For business owners, navigating the world of finance can be quite daunting, especially when it comes to understanding the roles of different financial professionals. Three key players often come into the spotlight: accountants, bookkeepers, and CPAs (Certified Public Accountants). While they all play crucial roles in managing a company’s financial activities, their functions and qualifications […]
8/10/23 — Essential Business Bookkeeping Terms You Should Familiarize Yourself With
Are you new to the world of business bookkeeping? Don’t worry, we’ve got you covered! In this article, we’ll introduce you to 10 essential bookkeeping terms that every business owner should know. Let’s dive right in: Accounts Receivable: This refers to the money owed to your business by customers or clients for goods or services […]
8/15/23 — Is Outsourcing Right For Your Business?
Should You Outsource Tasks to Grow Your Small Business? As a busy entrepreneur, it’s tempting to take on everything yourself. But outsourcing administrative and back-office work to qualified professionals has many advantages. Regain Focus With Increased Productivity Outsource repetitive low-value tasks like bookkeeping, data entry, and calendar management. This frees up your time to focus […]
8/1/23 — Cash or Accural Method
Cash vs Accrual Accounting: Which Method is Best For Your Small Business? Choosing between cash and accrual accounting impacts how you record financial transactions. Understanding the differences can help select the best method for your business. Cash Accounting Basics With cash basis accounting, you log revenue when received and expenses when paid. This approach provides […]
7/15/23 — Tax Tips to Maximize Summer Savings for Your Small Business
Tax Tips to Maximize Summer Savings for Your Small Business Deduct Summer Travel Expenses If you attend out-of-town conferences, client meetings, networking events, or other business-related trips this summer, be diligent about tracking all travel expenses. This includes flights, rental cars, mileage for personal vehicles, lodging, meals, parking, tolls, and any other costs incurred for […]
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