Small Business Blog for Entrepreneurs and Startups
Accounting and bookkeeping is vital for small businesses to track their sales, expenses and profits. Read my review of Quickbooks Online and Intuit Gopayment, the mobile credit card reader and payment processor that automatically syncs with your account of Quickbooks online seamlessly. Discover cash flow management tips, how to get paid as a DBA Sole Proprietor and how to collect debts from your customers lawfully.
Profit is the most important thing in the business world; how much money the company makes at the end of the day will determine how successful you are. This means that business owners should always be looking for ways to maximize profits to help their company to reach their potential and stay ahead of the [...]
Inventory management isn’t exactly something many find thrilling. The idea of regularly counting inventory sounds unappealing to most. However, it is necessary. After all, inventory costs money. You need to manage yours to stay financially healthy. This is especially true if you’re looking to take out small business loans; you want to be able to [...]
The self-directed solo 401(k) is a highly flexible and profitable plan for long-term wealth creation. The combination of flexible investments, high contribution limits, payroll deductions, tax-deferred growth, and liberal allowances for employer contributions makes self-directed solo 401(k) a smart move for small businesses with substantial income potential and free cash flow. Designed for small businesses, [...]
As a fellow business owner of a sole proprietorship, I use and recommend Quickbooks Online as the best accounting software because of its excellent combination of power, flexibility, value and the ability to expand with your growing company. Plus you (and your team) can access it from ALL of your devices (mobile, online and desktop). [...]
Whether you’re a storefront, e-commerce or service, the end of the year is hectic for every type of business. The year’s end is a strange time for businesses because everyone is trying to phase out older models while simultaneously trying to introduce new ones. There’s a lot of unknowns and lots of shifts, but the [...]
No matter how a smart business owner you think you are, you are at risk of losing money to an embezzler – this person could be a trusted employee, family member or even your bookkeeper. As long as you own a business, you are not immune to embezzlement. Do not assume that your employees will [...]
When you are forming a business partnership to start your business be ready to split the profits, responsibilities and capital needs with your partners. Here’s all the information you will need to understand partnership profit calculation, equitable partner splits and how to develop, and record, your profit sharing strategy. What is Profit? To start [...]
Being a self-employed individual means that you have to keep track of all your daily financial records for business and tax purposes. Money is the backbone of your business – no matter if you are a freelancer, solopreneur or a consultant. As such, being able to track both your incoming sales and outgoing expenses [...]
