Ever since the SBA started taking loan applications due to the coronavirus pandemic, many small business owners focused solely on submitting their applications, which is entirely understandable. However, now that loan applications are being approved and money distributed to businesses across the country, another important question should be popping into your mind: how can I […]
Taking responsibility for bookkeeping in your small business can be a stressful and quickly overwhelming step. It can easily get out of control if you’re not vigilant, and sometimes it’s even hard to know where to begin. Recording the basic flows of money in and out of your business and reconciling different accounts is essential […]
The bad news about being a solopreneur is you don’t have an accounting or bookkeeping department to track your expenses, income, and other financial details. You have to do it all yourself, even if you hire an accountant to do your tax prep at the end of the year. The good news is solopreneurship puts […]
There’s a lot to keep track of when you’re starting your small business. Sometimes half the battle is keeping track of your expenses so that you can write off business costs on your taxes. But have you ever considered that every mile you put on your car driving to and from client lunches, purchasing supplies, […]
Learning to keep track of your books is important for any business owner. Sound financial information makes it possible for them to accurately maintain their books, file their taxes, and make business decisions. There is a lot of work that goes into maintaining your books and keeping track of your accounts. If you don’t organize […]
As an entrepreneur or small business owner, you’re always striving for growth and success. It’s part of the game for you. When you’re working, you’re always thinking ahead to the next big choice, or amazing strategy that will really set you apart from your competitors. As your business grows and you see an increase in […]
The cannabis industry is growing at an astronomical rate; some experts predict that by 2021, it will be a $20 billion dollar industry. Smart investors and entrepreneurs like you want in on the action. While the high rate of returns certainly encourages one to jump on that ‘ship,’ it’s important that startups understand that the […]
Maintaining business records is a must for any small business. Keeping good records ensures that your business runs smoothly and efficiently, and that you’re prepared when tax time rolls around. Many businesses have experienced crippling issues that compromise business success when they ignore basic recordkeeping practices. Here’s a primer on small business recordkeeping and why […]
Now that you are filing away your business or personal tax records for the year, you may be wondering just how long you need to keep those records. After all, your filing cabinets and storage boxes can only hold so much stuff, right? The IRS offers some specific guidance on this subject. Here’s a look […]
If you own a small business, you know that every dollar counts. When it comes to tax time, you want to make sure you take all the tax deductions you’re entitled to. Lower taxes means more money you can either put in your pocket or invest back into your business. Check out this ultimate list […]
