Advantages and Disadvantages of Self-Employment
Does your morning commute and cubicle have you contemplating self-employment? We list out some pros and cons of being your own boss in this week’s Business Tip.
Increased Business-Vehicle Deductions Due to Tax Reform
Tax reform has brought about significant changes in the way that vehicle use is deducted for business purposes. Read more in this week’s Business Tip.
Business Owners & Landlords: Are You Collecting the Needed W-9s?
If you use independent contractors for your business or rental, for each individual whom you pay $600 or more for the year, you are required to issue a Form 1099-MISC to avoid losing the deduction for their labor and expenses. We explain in this week’s Business Tip.
Your Small Business Survival Guide for If (and When) the Economy Slows Down
You thought you were getting a refund and SURPRISE…You Owe! If you owe the IRS, but can’t pay the bill, we explain your options in this Question of the Week.
Key Financial Ratios for Small-Business Owners
Financial ratios are used to measure a business’s condition and performance. They can help you evaluate your organization’s financial status and rate of success. They are also used by those evaluating your business for potential investment or lending opportunities. Generally speaking, there are four categories of financial ratios: liquidity, profitability, activity, and leverage. Your balance…
Planning to Exit Your Business… It Starts Now
You’ve worked your whole life building a business and the time has finally come: the time where you feel ready to enjoy the fruits of your labor and retire. But what happens to your business now? Do you want to pass it down to your children? Maybe you don’t have children. How can you exit…
Nine Things a Business Owner Should Know After Tax Reform
Many of the changes can affect the bottom line for the business as well as you as the business owner — some in a good way and some in a bad way. 1. The taxable income of a C corporation is now taxed at a flat 21% rate. Previously, the tax rates generally ranged from 15%…
How Does QuickBooks Online Handle Mobile Expenses?
QuickBooks Online’s mobile app, available at the Apple App Store and Google Play, can do many of the same tasks that it performs on your office desktop. You can, for example: Check account balances. Add and edit estimates, invoices, and sales receipts. Add and edit customers, vendors, products, and services. Record invoice payments. One of…
Planning to Exit Your Business? It Starts Now
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that for business owners, exiting a small business is a complicated process and one that should be planned for years in advance, not just in the short time leading up to retirement. Read the Article This article is for demonstrative and academic purposes and is meant to…
Reasons Why Your Small Business Needs an Employee Identification Number
Entrepreneurs often shrug off the idea of obtaining an employer identification number, or EIN, believing that their small business really doesn’t need one. Though there are some cases where a solo business can get away with merely utilizing the business owner’s Social Security Number, doing so is not necessarily the best idea, even if you…