The most popular small business accounting software by far is QuickBooks. It can be easy to use, is very affordable, and can help you to run your business better. Unfortunately, QuickBooks is quite often not used to its potential. Here are some things you should be doing with QuickBooks: Running Financial Reports: To know how […]
Financial
Before You Buy a Business
Businesses are bought and sold each day and some make better investments than others. Before you buy a business, here are a few things to make sure you make the right move: Why is the seller selling? There can be many reasons why a business is for sale, and some reasons are better than others. […]
The Hidden Retirement Asset
Financial advisors frequently mention the three main pillars of retirement, which are social security, pension plans, and personal savings. Yet, you rarely hear them speak about an asset that may prove to be an individual’s largest asset – their business. Many business owners invest their money back into their business over the years, especially during […]
Do You Have Too Many Customers?
What do you think is better, 100 customers or 200 customers? It might actually be the lower number, and I’ll explain why. Let’s say that a small business provides landscaping and maintenance services for both businesses and for residential customers. Most of the customers are within a reasonable driving distance from the main office, and […]
There’s Never Any Time!
We all work hard every single day, but often feel that the day was spent without getting anything done. There is something you can do about it, and here are a few tips to make your day more productive: Do the Most Important Thing First: It may seem obvious, but if you don’t do what […]
5 Simple Ways to Improve the Management of Your Business for Little to No Cost
The success of your business depends upon how well you manage it. From a start-up all the way to a billion dollar corporation, managing your business well will help to insure its success. Since most businesses are small businesses, here are some ways to help a small business owner. Answer the Phone: When a customer […]
The Envelope Method Revisited
A while back I wrote about using the envelope method to help manage expenses and cash flow. Because I believe in simplicity, there may be a simpler way to use this powerful method. First, a background on the envelope method: I started using this method when I was a teenager through the guidance of my […]
Never Pay Taxes on Your Real Estate Investment
Real estate can be a great investment, especially with all of the tax benefits. You can generally deduct interest, property taxes, repairs, and depreciation. Sometimes, a rental property may even generate a tax loss, while being cash-flow positive. But what happens when you sell your property? If you sell your property as a loss, then […]
Frivolous Tax Arguments
I don’t know anyone who likes to pay taxes. But, you won’t win with these arguments: Filing tax returns are voluntary: Filing tax returns are not voluntary. The IRS uses the word voluntary to mean that you determine your own initial tax liability by filing your own tax returns, and not have the government determine […]
Where is all of the Money Going?
You’re a small business owner, keeping busy, but there always seems to not be enough cash. An entire book can be written on this subject, but here are a few reasons why you may feel your business is short on cash: Taking too Much: Unless you have other income sources, you need to either take […]