Budgeting for Business?
Budgeting for Business? You bet! Money is finite, even in business, and so we have to plan for how it is spent. That’s really all a budget is–a plan for how best to utilize your money. From there, a budget can…
Charitable Contributions
Charitable Contributions Are charitable contributions beneficial for a business and if so, what kind of documentation is required? Charitable contributions can qualify as a tax deduction. There are rules, however, so it’s wise to read them over AND to get…
Where’s The Money?
Where’s The Money? Would You Rather: Tell your money what to go or Wonder where it went ??? If you’d rather be in charge of your money than have your money be in charge of you, then you need a…
Compensation for s-Corp
Did You Know? Compensation for s-Corp If you are an s-Corp you are required to take part of your compensation as regular and reasonable salary in addition to distributions. Payroll services can make this easy. — Is Your Business Healthy?…
3 Most Excellent Reasons to Track Your Business Expenses
3 Most Excellent Reasons to Track Your Business Expenses Reason #1 Let’s say your business makes $100. The tax man comes round and hands you a bill for taxes on $100 worth of income. And you say, “But wait, I…
Being In Charge
Being In Charge Many small business owners like to be in charge. It’s what makes them owners rather than the employees. However, being in charge does NOT equate with doing everything yourself. On the contrary! Being in charge is largely composed of…
Assemble Your Business Team
Assemble Your Business Team Before you get anxious about the cost of all these professionals, consider this: Your business team might be people or it might be resources. It depends on whether you intend to outsource or wear the hat…
Cash vs Accrual
Cash and Accrual are terms that apply to how a business notes their revenue and expenses. It is both a simple concept and quite involved. I will keep the answer simple here and encourage you to join Small Business Bookkeeping…
Paperwork Management
Paperwork Management Paper clutter is ALWAYS a challenge, and never more so than when it comes to important papers like business receipts! How can we reduce this clutter and keep those receipts organized and ready for tax time? FILE First…