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Entrepreneurship

End of the year tax savings

The end of the year is fast approaching; keep more of your money instead of paying it out in taxes. I often hear accountants recommend spending your money, so you have fewer taxes. I disagreed because the more you spend, the less cash/capital you have. However, some scenarios would justify spending to avoid taxes; here […]

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Accounting Entrepreneurship Operations

Profit Sabotage! What’s Keeping your Business from its Financial Goals?

“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure.”, Marianne Williamson If you’ve never thought much about what’s keeping your business from hitting those financial targets, here are a few questions to help you discover if this is affecting you. Let’s rip the Band-Aid off and […]

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Entrepreneurship Operations

5 Financial Goals Your Business Should Have

Unfortunately, it is not unusual to find that entrepreneurs don’t have any financial goals in place. Yet establishing your goals up front is one of the surest ways to help make your day-to-day decisions easier. So whether you are here looking for ideas, or accepting that it’s time for a change, let’s go through a few […]

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Entrepreneurship

How To Save to Start a Business In 1 Year, 3 Years, Or 5 Years

Need to save $1,000,000 to start your business? Here’s how to make it happen. So you are thinking about starting a business. Maybe it’s a clothing store, business services, or manufacturing. No matter the type, you’ll need to put aside some savings to accomplish this goal. In addition to covering expenses such as rent, equipment purchase, salaries […]

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Accounting Entrepreneurship Operations

Learn how to Budget for your Business using the 50/20/30 rule

A penny saved is a penny earned. – Benjamin Franklin What’s the 50/20/30 rule anyway? It’s a method for breaking down your personal budget that was made popular by Elizabeth Warren’s book “All Your Worth: The Ultimate Lifetime Money Plan“.  50/20/30 rule can be used as a guideline for running your business. It works because it’s easy to […]

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Accounting Entrepreneurship Operations

Want Success? Manage your Cash Flow!

So you’ve had the idea for a while and you’ve finally started your business. The orders are coming in and you are trying to keep up with demand, but something is not adding up. On paper sales are on target, the orders have come in, goods have been delivered, but your bank account is in […]