Know the Rules for Hiring your Kids to Work in Your Small Business?

Business Owners…As we are nearing the close of this tax season, make sure you are taking advantage of every opportunity to cut your tax bill. Business owners can deduct business expenses from the amount of income they earn throughout the year. For an expense to qualify as a “business expense” it must be directly related…

As a business owner, unless your business is accounting, bookkeeping is normally the last item on your to-do list. But is ignoring your company’s finances wreaking havoc on your business? According to an Entrepreneur Magazine article, “Entrepreneurs who hire accounting help usually discover they weren’t doing nearly as well on their own as they thought…

Business owners, do you really need to keep all those receipts? The short answer is YES. The long answer is… As a small business owner, you make tons of purchases for your business. If you are like me, you make them all with a debit or credit card because, after all, who uses cash in…

Is your bookkeeper working with you to maximize your tax write-offs? Is she helping you to reduce your company’s tax liability? Is he pushing you (nagging) to get him the documentation that he needs to document EVERY POSSIBLE expense your company may have? Ask yourself the following questions….. 1. Does your bookkeeper provide suggestions on…

So you finally took the big step and hired some much-needed help. Great job. Now you can focus on your income-building tasks and leave some of the other things to your new helper. Your other business owner friends have suggested that you just pay this person as a contractor to save yourself some cash by…

Corporate budgets, as well as household ones, are arguably one of the most important tools you can use. Creating a budget for your business will provide a guideline for expected income and expenses and enable you to compare your anticipated financial goals with the actual numbers. In essence, it will serve as a barometer for…