Small business owners like you face many challenges as you start and grow your businesses. You know that a solid business plan, a unique product or service, and effective marketing strategies are important, but there’s another crucial element that you…
When it comes to establishing and running a business, choosing the right business structure can significantly impact your tax liability. The tax implications associated with various business structures can be complex, but with the right knowledge, you can make informed…
As a real estate investor, you know that selecting the right corporate entity is essential to minimize tax liabilities and protect your assets. However, it can be challenging to determine which business structure is best for your investment. Here are…
I get asked a lot about the differences between bookkeeping and accounting. The two are essential financial functions for every business. Many people use them interchangeably and may not know the distinction between them. Understanding the differences between bookkeeping and…
At some point in your business, you probably will have to handle bookkeeping yourself, particularly when you just got started, or hire a bookkeeper to save on costs. You wouldn’t have too many transactions and would want to ensure that…
As a small business owner, it may be admirable to say that you went into business to pursue a dream, make a difference, or even help others. While these are valid and real reasons for running a business, profit is…
As a small business owner, there are different ways that you may measure financial performance. When your expenses are lower at the beginning of your business and clients fewer, it is pretty simple. You look at the amount paid and…
A small business owner should take the initial step with financial management to put a budget in place. A budget outlines the plan for managing expenses in the business. A variance is an indication that there is a difference between…
For many small business owners, the line between business and personal finance is blurry. At the start of the business venture, savings and other forms of personal finance may drive financial operations for the business. At this juncture, it seems…
