You have a lot on your plate as a small business owner. From creating a business strategy to marketing, management, and accounting, there are often more things to do than there is time in a day. Delegating tasks can help…
Managing your small business finances is crucial to your company’s success. It’s an ongoing process and one that needs to be well-organized. There are multiple aspects to maintaining finances and ensuring your business has the stability and cash flow it…
Cultivating healthy financial habits is always smart. Many people don’t have enough insight into their finances, which can make it challenging to reach financial goals such as saving for retirement or having an emergency fund. Whether you’re a business owner…
Starting a small business can be a great way to build your income, do what you truly love, and make steps toward self-sustainable revenue. However, you’ll need more than a well-thought-out business plan to get started with your new endeavor….
Although you can certainly apply for a loan as a small business, you should expect to invest some initial capital in the business yourself because the lender will not cover all your startup costs. In addition, many lenders want to…
Tax deductions are important when you’re self-employed because they can help lower your taxable income. Since you don’t have an employer paying some of your taxes (namely the self-employment tax), any tax breaks you qualify for can help reduce the…
A limited liability corporation (LLC) can help protect your personal assets and give you more flexibility than a corporation when running a business. If you own an LLC, you will pay yourself as a kind of “employee”, or member, of…
Taxes can seem complicated and overwhelming, especially for new small business owners. It’s possible that your concerns about how much taxes to pay will overshadow the search for any tax benefits you may be eligible for, and that’s something that…
The way your small business is structured determines how much you will owe in income tax. The location of your small business also affects how much income tax you’ll pay, and to whom. The majority of small businesses do not…
Not all small businesses are created equally. The way your business entity is structured makes a difference in the way it will be taxed, and the rate you will pay. Recognizing the major differences between these structures and tax classifications…