Neglecting a mid-year review can lead to missed opportunities, unpleasant tax surprises, and preventable cash flow crunches. Taking a proactive look now gives you time to correct course, plan smarter, and make sure your money is working for you—not against you. A thorough mid-year bookkeeping review can help you: Catch mistakes before they snowball […]
Running a small business means wearing many hats — sales, service, operations, and yes, bookkeeping. Unfortunately, bookkeeping often lands at the bottom of the to-do list, leading to costly mistakes that quietly drain profits and create tax-time chaos. Below, we break down the top 10 bookkeeping mistakes small business owners make, why they’re expensive, […]
When was the last time you actually looked at your business budget? Most business owners create a budget at the start of the year, feel a sense of relief that “it’s done,” and then don’t look at it again until tax time. But the truth is — if you’re not reviewing your budget regularly, […]
It’s that time of year again, almost the end of summer, where school is about to start up and suddenly everyone’s schedules have changed and everything seems to be moving a million miles a minute. Now’s the time to get back into the swing of things! Here are several tips (both personal and business) […]
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 […]