Business improvements, expansions, and maintenance all stem from financial success and discipline. It is crucial to ensure that your cash flow remains positive and your budget remains flexible. This will allow you to responsibly and safely grow your business, support your employees, and secure your business's future. Whether you need to become more financially disciplined [...]
As a small business owner, you probably want to minimize costs wherever you can. Other people might have advised you to save your money when it comes to using accounting software and do all of your recordkeeping manually. If you have a background in accounting and lots of spare time on your hands, that's not [...]
Monitoring business performance means taking time to analyze financial components through a series of accounting reports. This analysis supports accurate budget and forecast creation. There are a few fundamental reports that every small business owner should understand and generate regularly. Building accounting reports on a monthly, quarterly and annual basis makes it easier to identify [...]
Tax time is often stressful and you want to take all of the deductions to which you are entitled. Many of these are connected to work. For example, if you use your car for work, gas, oil, and mileage can be deducted. People who work from home and have a room dedicated as an office [...]
If you own a small business, it is a good idea to have a certified public accountant file your taxes rather than attempting to do it yourself. Your financial situation may be complex, and having a professional prepare your taxes helps prevent any mistakes. However, a CPA needs your help to file successfully. Here are [...]
Taxes can be confusing, even for entrepreneurs and seasoned businesspeople. One question that appears often for married couples who share a business is whether they can file as a qualified joint venture. The IRS lists three elements when defining this type of venture. If a married couple satisfies all three elements, then filing as a [...]
Accounting is an integral element of any business whether it is small or large. You need to know what your company’s financial health is at all times to make informed decisions at every level of the organization. This is essential for a multitude of reasons. Here are the main questions to ask yourself to get [...]
Congratulations on forming your new business! You've selected a memorable name, catchy tagline, business cards, and website. You may be operating everything from your personal banking and credit accounts, but that may not be the best idea. Consider why you are often better off separating your business and personal accounts. Tax Concerns and Legal Issues [...]
Businesses need to organize their financial information accurately and efficiently, so their choice of accounting software is important. QuickBooks is one of the most popular programs for companies across all industries to manage their finances because it offers users several key benefits. Here are seven ways that using QuickBooks could help your business. 1. Save [...]
As a Florida business owner, you want to offer the best products and services to your customers and clients. Your primary goal, however, is to make a profit. After all, you can’t remain in business if you don’t have sufficient resources to do so. Financial budgeting and forecasting can help you achieve your goals, but [...]
