Bookkeeping is not as simple as balancing a checkbook – nor should it be. Try this simple exercise: grab your personal checkbook, if you still use one. Now open it up and tell me how much you made in March… I’ll wait. Still, adding and searching? Are you adding your net income? What was your …
Many have asked about what “equity” is; if you are one of the many who have wondered, you are not alone. Simply put, the equity is the net worth of your business. In other words, if you sold everything in your business (all business assets) and used only those funds to pay off all the …
Remember the old days when you could roll up to the local gas station and the attendant would not only pump your gas but also ask you to pop the hood, check your oil, and then wash your windshield? Ok, the Millennials out there are going, “Uh, no!”, but that’s what would happen at many …
Book: Profit First by Mike Michalowicz Profit First is a cash management system, explained in a clear, somewhat humorous, book by Mike Michalowicz. First, props to Mr. Michalowicz for pulling humor into such a dry subject. As a Numbers Nerd, this stuff gets my fan girl cheering, but most business owners don’t get that excited …
There is a lot of buzz around the question of how to classify certain employees. Some employees expect to be paid as independent contractors, others wish to be classified as W2 employees. Likewise, employers have different tolerances and preferences for this as well. The unfortunate reality is that there are guidelines that govern this distinction. …
Most micro businesses have never talked to a bookkeeper. Startups, even fewer. The fact is, starting your business on the correct financial footing will save you time and money, possibly more than you know. Are you still working off spreadsheets? For those of you working off a spreadsheet, there’s an easier way. Accounting systems are …
With the holiday season upon us, I would like to take a moment to express my gratitude to everyone who has contributed to the success of this company. Our clients are the center of everything we do and I am so grateful to each of them for the opportunity to serve, learn and grow every …
Trick or Treat is a child’s first sales pitch. Parents, make no mistake that Halloween is a business with transactions, and as with all transactions there are taxes. When you are sorting your child’s candy, it is a good time to teach them about taxation, so don’t forget to take a certain amount of candy …
The IRS set a goal last fall to increase the number of audits on small businesses this year. For all small businesses, having pristine books is more important than ever! Many business owners who are still doing their own books may not be cognizant of all the intricacies involved in maintaining financial accounting accurately. All …
Good Morning Employers, This is a friendly reminder to make sure that you have gathered the W-9 forms from your employees. The completion of this form is required for your contracted (or freelance) employees that have made more than $600.00 to receive their 1099 form at the end of the year. The W-9 form is …
