As a small business owner, you can choose how to structure your business for tax purposes. The most common options are: LLCS-CorporationLLC filing as an S-Corporation for tax purposes A common misconception I see among business owners is picking a business...
Keeping up with your company’s finances has become overwhelming. Since no one on your small team is tasked officially with it, it falls on your shoulders. (Like so many other things when you’re a small business owner!) That means accounts are reconciled way too late,...
“Going into business without a business plan is like going on a mountain trek without a map or GPS support – you’ll eventually get lost and starve!” – Kevin J. Donaldson Financial planning is crucial for a business owner. You work too hard to be spinning on a...
Losing money can result in a slow, painful death for businesses. However, losses are the default mode of operation unless you’re intentional about your finances. Remember the idea that things left to themselves tend to degenerate? Your business is not immune to this...
While at times it might seem convenient to use your business account to pay for personal expenses and vice versa, it’s not a wise practice. In order to stay above reproach, keep things clean, and avoid legal issues later, it’s best to maintain a separation of church...
If you’re like most business owners, you probably focus on what’s right in front of you. There are times when everything feels urgent, and you find yourself playing the part of a firefighter putting out theoretical fires – a far cry from the focused, level-headed...
