If you’re self-employed, you are responsible for keeping track of your income and expenses. Unlike those who have an employer, self-employed individuals must pay their own taxes, so keeping accurate records of income and expenses can make budgeting for taxes…
Attestation is a type of assurance service provided by a Certified Public Accountant (CPA). Although not as extensive as an audit, attestation offers the assurance that the financial information an audit provided is accurate and reliable. Businesses can also benefit…
Although small business owners have a lot on their plate, tax planning should be a priority. Creating a financial plan to maximize your income and reduce your tax burden can help you profit more from your business. The best way…
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…