Three Ways A Small Business Can (Legitimately) Avoid Regulations
A common question from business owners is, how can a small business avoid the crush of taxes and regulations while still staying within the confines of the law?
Glossary: Independent Contractor
In tax terminology, an independent contractor is someone who performs services for a business but who is not an employee of the business.
Deducting Business Charitable Contributions
Let’s look at how to account for charitable contributions made through your business.
Can a Seasonal Business Do Budgeting and Break-Even Analysis?
Even if a business is only open for 3 or 4 months out of the year, the business will have income and expenses during that timeframe. A business owner can estimate those numbers (budgeting!) and use those numbers to determine how many jobs need performed (lawns mowed, driveways cleared of snow, etc.) in order to at least break even.
Donating Professional Time to Charity
The bottom line with it is, you can’t deduct the value of your donated time.
What is the Income Threshold for Going from Sole Proprietor to S-Corp?
I say it depends on your cash flow and whether or not you can afford to pay yourself a reasonable salary for the work you’re doing.
Does My Business Need a Separate Bank Account?
The headline to this post asks a common question. And the answer is, yes!
How Does Business Bad Debt Work?
A common question small businesses have is how to record when a client or customer fails to pay an invoice. I’ll try to address some of the most common issues in this post.
Alternatives to Hiring Employees
there are five steps to look at when a business owner is considering hiring employees.
Managing Cash Flow and Working Effectively with Banks, Part 3
Here are six things I’ve learned through the years in seeing clients try — usually unsuccessfully — to get loans from banks.