To run a successful business, small business owners are responsible for many things, including the creation of the name of the business, the organizational structure, the marketing plan and strategy, and a solid understanding of how to make the business grow. A big part of this is financial planning (budgeting), which can be very difficult […]
4 Awesome Reasons Why Outsourcing Payroll Can Make You Big Money Read More »
A SWOT analysis is an incredibly powerful tool in developing an effective business strategy. It is useful for all types of business!
Importance of a SWOT Analysis for Small Business Read More »
Cash flow is the HEART of any business. Small businesses, in order to be successful, are largely dependent on their cash flow, making it critical for any business owner to understand the impact, positive or negative, that cash flow has on their business. It’s crucial that you understand cash flow management if you are hoping
4 Big Things You Should Know About Cash Flow Management Read More »
Unlike individual income tax, most small business owners and entrepreneurs must pay business income tax. Some businesses are required to pay self-employment tax. This is generally reserved for those who are self-employed. Also, you may be required to pay estimated quarterly tax payments. These payments are due depending on the type of business you operate
Business Income Tax | What to Know for Small Business Read More »
It’s important to know the best tax deductions for your business. You can deduct the cost of many things as a small business. For example, for your business, you can deduct expenses related to your home office, such as a portion of your rent and utilities, office supplies, automotive expenses, insurance, business-related travel expenses, and
The Best Tax Deductions for Your Business Read More »
If you are starting a new business, you are probably facing a lot of business start-up costs. This can be very confusing when it comes to taxes. What can you deduct in year one, and how do you make deductions in the following years? It’s an overwhelming situation. Luckily, the government allows you to deduct
Business Startup Costs & Taxes: What and How to Make Deductions Read More »
If you are self-employed, you will probably need to file a tax return, pay self-employment and income tax on your annual tax return, and possibly even pay quarterly estimated taxes throughout the year. Paying taxes as a self-employed individual can get complicated, especially if you plan to take many deductions on your tax return. This
How to Be Self-Employed | 2020 Complete Tax Guide Read More »
We all have hobbies; hobbies like photography and knitting are usually just for fun, and we don’t anticipate making any money from doing them. Did you know that you may be able to turn your hobby into a business and get generous tax breaks? Or, if you are doing a hobby that is not a
Is Your Business a Hobby or Is Your Hobby a Business? Read More »
Millions of Americans have lost their job due to the coronavirus pandemic. Many workers have been able to continue working but have resorted to working from home. The concept of doing remote work was once quite coveted. However, the challenges that come with it are now being realized. How to Set Up Your Home Office
2020 Complete Survival Guide for Working from Home Read More »
In-kind, also known as like-kind exchanges, is the process of exchanging property used for business for the sole purpose of another company similar to that (“like-kind”). This has long been allowed to occur under the Internal Revenue Code. The issue at hand is that there are now restrictions on this exchange. Curious about what you
The Ins and Outs of In-Kind Exchanges Read More »
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