Business

Hiring an accountant is widely considered best practice for small business owners.  But delegating financial analysis and reporting doesn't mean completely checking out of the process each month or quarter. On the contrary, it's recommended that business owners work closely with their accountants throughout the year to better understand their financial position,...

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be...

Since 1986, lawmakers have limited business meal deductions: first to 80 percent, and then to 50 percent (unless an exception applies). But on December 27, 2020, in an effort to help the restaurant industry due to the COVID-19 pandemic, lawmakers enacted a new, temporary 100 percent business meal deduction...

When people are told that they need to eliminate expenses, it can cause a lot of stress. It's hard to give up things, especially if you're used to it, and it feels like a need. We can try to convince ourselves that covering our roots with a 200-dollar hairdresser is essential, but...

How do you get things done? Simple…ask someone who’s already busy. It’s an old joke, but perhaps holding more truth than you realize. Busy people really do seem to accomplish more than everyone else…and it’s not just because they’re busy. They simply have something the rest of the world...

Do you have your goals set for this New Year? Business goals help you gauge your success and help you stay motivated to reach those goals. Some people think the planning stage is drudgery but even those entrepreneurs who prefer the “fly by the seat of your pants” approach to running their...

Living your life intentionally means taking risks. It involves pushing past fear and doubt in order to achieve your goals and live on your own terms. That can be an intimidating thing, which is why it’s so common for us to allow our inner critic to convince us to wait for the...

The easiest way to make your business more profitable is to track what's working. What parts of your business, what projects, and what products are making you money? Which ones don't? What type of customer is most profitable for you? Where is your most profitable traffic coming from? Taking...

You’ve probably heard the phrase, “Pay yourself first,” when it comes to finances. However, you may not be exactly sure what that means or how it can benefit you. The concept behind this advice is simply that it’s important to set money aside for yourself either through savings or investing before you...

Now that you’ve gone through all your income and expenses, you have a much clearer idea of where you stand. Now you can work to reorganize, reduce, and even eliminate things from your budget for survival during your financial crunch. As you go through this process, you’re going to be creating cash...