For the love of your business
For the love of your business
In the first part of this series, we discussed what effective bookkeeping looks like, and here we’ll provide a handful of bookkeeping best practices you can implement with your bookkeeper. It can be easy to overlook the vital role your bookkeeper plays in your business. In the not-so distant past, bookkeepers were often viewed as […]
Read MoreMoney is the lifeblood of your business, and arguably no member of your team does more to support you with the management of your cash flow than your bookkeeper. In fact, the very first team member you hire should be a bookkeeper—and that person should not be you. If you’re serious about your business, you […]
Read MoreQ: What tax breaks does Trump’s new tax law offer small businesses in 2019? -Penny Pincher A: Dear Pincher: The biggest break offered by the Tax Cuts and Jobs Act (TCJA) was lowering the tax rate for C corporations from 35% down to 21%. But very few small businesses are structured as C corporations, so […]
Read MoreStandard operating procedures (SOPs) are detailed instructions describing the procedures for carrying out recurring business tasks. At first, creating SOPs for your company’s processes might not seem very important. After all, if it’s just you and a couple other people doing all the work, creating step-by-step instructions for each key task might seem like a […]
Read MoreRunning a company is a massive responsibility, so putting a lot of thought and effort into your contracts might be pretty low on your list of priorities. But giving short shrift to your legal agreements can cost you big time—and in more ways than one. In order to save time and money, you may be […]
Read MoreIn the first part of this series, we discussed the initial steps for saving big on your 2019 taxes. Here, we describe the next steps in the process. Taxes are a thorn in just about every entrepreneur’s side. Indeed, taxes are your single biggest business expense. That said, it’s fairly easy to reduce the amount […]
Read MoreWhen you first realize that your biggest personal and business expense—bar none—is taxes, it can come as quite a shock. Seeing so much of your hard-earned money wind up in the government’s hands can feel like a shakedown. Yet focusing a relatively small amount of time and effort into strategically reducing your taxes can pay […]
Read MoreScaling your business is about effectively planning and preparing for growth, so as your operation gets bigger, your costs and workload don’t increase to unsustainable levels. To properly scale your business, you should be increasing revenue at a rapid rate, while increasing costs at a much slower rate. Growth is only sustainable if you have […]
Read MoreQ: Is my business website considered my intellectual property? -Concerned Coder A: Dear Concerned: Your website is most certainly intellectual property (IP). But whether or not it’s your IP depends on whether or not you were the one who originally created the website. When it comes to IP, patents protect inventions, trademarks protect brand names, […]
Read MoreThere are numerous advantages to running a business with a remote workforce. Without a physical office, startup costs and overhead are significantly lowered. You aren’t limited to hiring locally, so you have a much better chance at attracting top talent. And increased employee autonomy typically increases job satisfaction, which can boost productivity and morale, while […]
Read MoreState legislators in California recently passed a controversial new bill that requires many companies like Uber and Lyft, which rely primarily on independent contractors, to reclassify their contractors as employees. The bill, known as Assembly Bill 5 (AB 5), stands to upend the business model of the affected companies in California and potentially impact the […]
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