There are a variety of measurements that will actually allow you to determine the health of your business. While some techniques might be excellent business metrics, others might not be suitable or appropriate. With that in mind, let’s get pretentious about finance and explore the things that will help you determine if your company is […]
Pricing is one of the most important factors that has a direct impact on your profit. Pricing is how much you charge for your service. A pricing strategy is simply that—a strategic plan and it’s a very significant one. If you don’t approach it in this way, you can struggle to decide how much to […]
The word “audit” is one of the things that scares business owners the most. I’ve compiled 10 warning signs for an IRS audit that you should watch out for: Big deductions for meals and travel. If you have minimal business expenses in other areas but are claiming a significant deduction on “meals and travel”, you […]
Small businesses should be looking to improve their cash flow by starting with these simple but effective steps: Get clear on money coming in and out. One way to do this is by connecting all the apps you use for payroll, expenses, and generating revenue to a central system that gives you a snapshot of […]
Business Finances, Personal Finances
With a Possible Recession Looming, You May Want to Review Your Cash Flow Process
28
Jun
Jun
If you’re a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial. If you’re a new entrepreneur who hasn’t been through an economic downturn, you may be less familiar with how quickly your finances can be affected. To protect yourself and keep your business operating, […]
27
Jun
Jun
With gas prices so high, you need to track your travel costs as closely as possible. Consider getting a tax deduction for your business mileage. If you drive even a little for business, it’s easy to let mileage costs slide. After all, it’s a pain to keep track of your tax-deductible mileage in a little […]
20
Jun
Jun
In-house bookkeeping is the traditional form of business bookkeeping, but companies are increasingly turning to outsourced bookkeeping solutions because of the advances in technology and a growing economy. While each of the two options comes with pros and cons, we’ve laid out the differences between the two. Outsourced bookkeeping services often provide higher quality and […]
13
Jun
Jun
Article Highlights Higher Standard Deduction IRA Options Self-Employed Parent Employing Your Child Tax Benefits Summer has arrived, are your children looking for a summer job. The standard deduction for single individuals increased from $12,550 in 2021 to $12,950 in 2022, meaning your child can now make up to $12,950 from working without paying any income […]
You should be running reports in QuickBooks Online on a weekly—if not daily—basis. Here’s what you need to know You can do a lot of your accounting work in QuickBooks Online by generating reports. You can maintain your customer and vendor profiles. Create and send transactions like invoices and sales receipts, and record payments. Enter […]
Article Highlights: Employees Self-Employed Individuals Quarterly Payments Underpayment Penalty Safe Harbor Payments Estimated tax payments are not just for the self-employed. They are for anyone whose withholding and tax credits are significantly less than their projected tax liability, and if used properly, can protect a taxpayer from underpayment penalties. Employees who will have income, Social […]