Does your cash seem to be lacking even though your business is doing well? Here are 5 tips to immediately improve your cash flow: Accept Electronic Payments You’d be surprised by the number of businesses that rely on having their customers send them checks. It’s such a slow process that can take weeks or months […]
Turn Your Business into a Subscription
Why would you want to turn your business into a subscription? Not all businesses can do this, but here’s why and how to get started. Subscription Defined A subscription-based business model is one where a customer or client pays a fee periodically for a service or a product. For example, Netflix charges a monthly fee […]
How to Make Your Accounting Feel Less Painful
I’ve heard many descriptive words when it comes to accounting and maybe it’s because most people don’t find accounting as exciting as accountants do. Here’s how to make your accounting less painful: Outsource Most small businesses use QuickBooks Online to maintain their accounting records. Instead of doing this yourself, you can outsource this to your […]
The Conundrum of Loans
Looking for a loan for your business? What is the best way and timing of obtaining a favorable loan or a loan in general? Conundrum The best time to seek a loan is when you are not desperate to obtain a loan. Ironically, when you are looking for a loan is probably the time when […]
Before You Buy a Franchise
Buying a franchise can be a lower-risk way of starting a business, especially for a new entrepreneur. There are things you should look for and things you should avoid. Look For: Avoid: If you know a business owner who can benefit from our services, then we would appreciate your referral. And if you like what […]
3 Ways to Get Started with Real Estate Investing
Real estate investing can be difficult, but there are 3 ways to make getting started much easier. Rent Out Your Home When deciding to move, instead of selling your home, you can choose to rent it out if you expect positive cash flow. The benefits of doing this include: creating an instant rental property, no […]
One Way to Simplify Your Tax Situation
There is one common situation I see every tax season, and making this change would simplify your tax situation. Number of Financial Accounts Minimizing the number of financial accounts you have, when possible, will not only simplify your tax situation, but will also help to simplify your finances. Actions to take include closing out or […]
Need More Time?
Do you need more time to file your individual tax return? If you need more time to gather all of your information to file an accurate tax return, then you should file an extension by 4/15 with the IRS and any state you need to file a return for. Here’s what you need to do: […]
Useful List of Recent Tariff Announcements
Here is a shortened list of some of the countries and the reciprocal tariff rates that were recently announced to see how much they will impact your business and you personally. This is an abbreviated list Per The White House’s website, along with information regarding Canada and Mexico: Country Reciprocal Tariff, Adjusted China 34% European […]
Another BOI Reporting Update (Good News This Time)
Beneficial Ownership Reporting (BOI) requirements have changed again. This time the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule. Per FinCen’s website the ruling is as follows: In that interim final rule, FinCEN revises the definition of “reporting company” in its implementing regulations to mean only those entities that are formed under the […]