Starting a new business is both exciting and challenging. Especially when you're creating a product and service that is foreign to your experience. But Amy Kauffman, the founder and CEO of …Continue
Added by Justin Gentry on June 3, 2016 at 10:25am — No Comments
The miles you put on your odometer or the cost of using your car for the following types of drives can be deducted from your business taxes:
Drives between offices – If your business has more than one office, you can deduct the cost of driving between the different places you…Continue
When starting a new business, choosing your legal structure is one of the most important decisions you’ll have to make. The structure you choose will influence many areas of your business including your tax filing, your personal liability and your ability to receive funding. As a business owner, you can structure your business as a sole proprietorship, a partnership, an LLC, a S-Corporation, or a…Continue
The gym where my wife and I work out is adjacent to a school zone for a very large high school. This morning, like almost every other weekday morning, I watched as the crossing guard parked, put on his florescent vest, strapped on his whistle, and made his way to the intersection. He was ready for action. However, there was a problem. You see, yesterday was the last day of school for our county. There were no students.…Continue
Within ten years of starting, nearly 75% of small business will fail, so it’s easy to understand why small businesses cannot make expensive mistakes. Generally speaking, a lot of owners will have to shut the doors due to a lack of cash. A quarter of them will shut the door before the end of year one and close to 50% will leave the market before the end of…Continue
Added by Donna Reade on April 30, 2016 at 8:00am — No Comments
Raise your hand if you live a stress-free life. Mine didn't go up either. But we CAN reduce our stress levels drastically by applying a piece of advice we've all heard.
As entrepreneurs and business owners, we know what it's like to experience tension unlike "normal"…Continue
Added by Justin Gentry on April 23, 2016 at 8:52am — No Comments
Imagine two lightbulbs sitting in a light fixture and one says to the other, “Someday, I want to be a lightbulb.” (yes, they can talk. We’re imagining, remember?)
And imagine the other one saying, “You ARE a lightbulb. Just flip the switch.” So he flips the switch and light bursts forth.
Now, before we start running down the philosophical rabbit trail about when he became a lightbulb—was it when he was created or when he was illuminated—all I’m suggesting is that on the…Continue
One of my friends decided a few years back she was tired of not seeing the beautiful blooms in her yard that all the neighbors had. Armed with bulbs and seeds ordered from a gardening catelog and every tool imaginable from the local landscaping center, she set out to get her garden going.
Midway through the summer, even after much love, attention and fertilizing she really was not much closer to the garden of her dreams. ” I just don’t get it, she told a group of us one night, I did…Continue
Here are some things you should know so that you can get off to a good start with QuickBooks…Continue
Added by Donna Reade on March 9, 2016 at 4:44pm — No Comments
Managing a small business is no easy task and managing the finances can be a small headache. Bookkeeping is definitely not the favorite task of most small business owners, though it is an important factor in the success or failure of the business. Knowing where you stand at any instant gives you the information you need to make decisions that can help your business grow or prevent you from making a bad one that ends in…Continue
You know you're an entrepreneur if you've ever said any of these to your spouse:
Do any of these resonate? Are there times you feel like you're fighting an uphill battle, and it's beginning to feel completely like a…Continue
It does not matter whether you in the retail, service or consulting business, your company needs to find a way to manage its books. For some businesses, this means an in-house accountant or accounting department, depending on the company size. For others, it means finding a qualified bookkeeper to outsource the financial record management.
Does your business outsource its bookkeeping needs? Have you thought about it?…Continue
Added by Donna Reade on February 21, 2016 at 2:02pm — No Comments
It boggles my mind when I read about an entrepreneur who is working on their 7th or 8th business. HOW do they just start a new business? They make it sound so easy, like it’s just another box to be checked on the task list for the day:
Then it occurred to me: Entrepreneurship is a type of culture! Much like being in a foreign country, there is a set of customs and…Continue
I think if you're an entrepreneur, you've got to dream big and then dream bigger. - Howard Schultz
I recently had several conversations with entrepreneurs and coaches who are just getting started in their businesses. The conversations were all unique but had…
Is this happening with you? This year I had three companies who did not send me 1099’s. This week I contacted all three. They all got back to me very quickly. Two of them are sending me the 1099’s so I can include the forms when I file. However, the third company while acknowledging that they paid me, is refusing to issue me a 1099. Fortunately I got that in an email so I can include that correspondence when I file. Even after…Continue
Finding, getting, and then keeping customers may be the three hardest jobs for any small, medium or large business.
If everyone agrees, I bet we can then say number four is managing cash. “What cash?” is not an appropriate come back. At least I hope it’s not.
Since managing cash is high on the list, I have worked many years on making this daunting task be as simple as possible through just a few simple hacks. These hacks are from real life examples with my own client base. And…Continue
For most business owners, getting paid quickly is critical. It can also be extremely difficult. We have all experienced the frustration of investing time, energy and funds into a client job only to be left spending more time which is your margin following up on collections!
Here are the things I…Continue
Are you one of the many small business owners who have not done his or her bookkeeping all year? If so, this tax season will unfortunately be a stressful time as you frantically scramble to pull together all your receipts, business expenses and trying to account for every single thing you did in 2015.
To help you through this period, here are three things you should do before you turn your books over to your…Continue
Entrepreneurs, by definition, are risk takers. They are not happy with sitting back and working the status quo. They, are, then, always looking for that next big thing. Challenges and risk are a big part of their everyday existence, and they are not truly happy unless they are taking on at…Continue
In a few weeks, we will be winding down another year and starting to think about how we want to begin the next one. Many people go into a new year with high expectations and goals; nothing wrong with that, but a study from Scranton University discovered that only about 8% of the population who make resolutions actually achieve the end product they wanted; JUST 8%!
There are many thoughts about why people are unsuccessful in keeping resolutions but regardless of the reason, the…Continue