Three Ways an Accountant Can Save You Money

Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your finances has many benefits. Leaving your books to a pro will free up time so you can focus on serving your clients and implementing plans for growth. Here are a few ways an accounting professional…  Read more

Why banks won’t lend to a business

How to obtain financing is a common concern for new businesses and those preparing to scale. Getting approved for a business loan or line of credit is more difficult than qualifying for a personal loan. It’s crucial that small business owners are adequately prepared to meet with a lender to present their business in the best possible light and qualify for the money they need. Here’s what you can do…  Read more

Wealth the Warren Buffett way – a short guide to value investing

Value investing is the stock selection strategy famously used by business magnate and third wealthiest person in the world, Warren Buffett, whose total net worth exceeds $91.5 billion. Developed in the 1930s by Columbia University professor and economist, Ben Graham, value investing involves screening securities to find stocks undervalued relative to peers and the market. Stocks are then assessed for their intrinsic value, determined by a fundamental metric—such as the…  Read more

When You Should Consider Hiring a Business Lawyer

Amanda Tukey, JD When you run a small business, every cent counts. It can be difficult to spend money on anything you don’t consider vital. Hiring a lawyer during key times in your small business might seem like an unnecessary expense, but the money you spend now on a business attorney could save you time, money, and energy in the long run and could protect your business. When it comes…  Read more

So you’ve launched your business – now what?

Good news for small business owners: according to the US Small Business Administration, nearly 80% of small businesses survive their first year. However, that number begins to drop as time rolls on. Only half of small businesses pass the five year mark, and a mere third celebrate their tenth anniversary. Taking steps to create a good foundation in the early days of your business is essential for a sustainable and…  Read more

Protect Yourself and Your Data – Proactive Steps for Living Safely in the Digital Age

These days your personal data is everywhere, and that information is valuable to marketers, hackers and everyone in between. If you want to prevent the unauthorized use of your personal information, you need to take a proactive approach to protecting yourself and your identity. You can no longer afford to be blasé about your data security – if you are not taking proactive measures to prevent the use of your…  Read more

5 PayPal Alternatives to Send and Receive Money Online

PayPal is the world leading online payment service. You can transfer money to and from your bank account, pay for goods, and even receive payments worldwide. It’s a useful tool for entrepreneurs, freelancers, and even for personal use. However, it does have its drawbacks. PayPal takes a significant chunk of money when it comes to converting and billing international payments. You could end up losing about 5% of your cash…  Read more

Beyond Bitcoin: 5 Ways Blockchain Technology Will Change the World and Transform the Future

The excitement surrounding Bitcoin and other cryptocurrencies has been hard to miss. As the price of these alternative forms of payment rose sharply, dropped back to earth and rose again, more and more people were paying close attention. And while some have predicted a crash in the cryptocurrency market, few people doubt the transformative power of the blockchain. The blockchain concept at the heart of the cryptocurrency market it is…  Read more

Common Homeowner’s Insurance Terms That You Should Know

Home While homeowner’s insurance isn’t required by law, it is often required if you are taking out a mortgage in order to purchase your home. There are a lot of things that you need to think about when purchasing homeowner’s insurance, including what types of coverage you think you need. This can be a challenging task, especially if you are not up to date on your homeowner’s insurance terminology. The…  Read more

Conference Tips for Small Business Owners

For small business owners, business conferences can be both a blessing and a curse. They give you the opportunity to develop new skills and learn strategies that you can use in your business, and they also provide you with the chance to meet new people and expand your business network. Unfortunately, they also pull you away from your business and they cost money, so it’s important that you get the…  Read more

Money Saving Tips – 5 Times When Buying Used Makes Sense

If you are trying to save money, switching from brand new goods to used items can make a lot of sense. Buying used does not always make sense, but exploring the pre-owned market is one of the best ways to save on many different classes of products. These 5 types of consumer goods are particularly good candidates for the used market. Cars Buying a brand new car rarely makes financial…  Read more

Special Once in a Lifetime IRA transfer to HSA

Special Once-in-a-Lifetime IRA transfer to HSA  IRS Notice 2008-51Once per lifetime an individual may make a tax-free, trustee-to-trustee transfer to their HSA from an IRA or Roth IRA, but not from a SEP-IRA or SIMPLE-IRA unless no current contributions had been made to the SEP or SIMPLE for the same plan year. The maximum qualified HSA funding distribution depends on the HDHP coverage (self-only or family) you have on the first day…  Read more

Tips for managing contractors

For small businesses, working with independent contractors can be a life saver. You can hand over tasks you don’t have time for – at a fraction of the cost of an employee. Unlike staff, you won’t owe a contractor payroll taxes, unemployment insurance, health insurance, or other employee benefits. Because contractors aren’t employees, however, they do need to be managed differently. They’re accustomed to being their own bosses, for one…  Read more

3 Mistakes That Strangle Growing Businesses

Businesses want to grow and help a larger audience, but too many make mistakes that cripple their growth. Even worse, they keep repeating them! Don’t do the same; avoid the blunders outlined below. Hiring Toxic Personalities Businesses hire more staff as they grow. But if they expand too quickly, they will feel pressure to fill positions on their team, even if the job candidates have a few personality flaws. While…  Read more

Sales Tax after WayFair

More online purchases are hit with sales tax… Thanks to a landmark Supreme Court case that gives states greater power to impose sales tax on e-commerce. In June, the Court overturned a ruling that shielded sellers with no physical presence in the buyer’s home state from collecting sales tax.  The Court blessed S.D.’s internet sales tax.  The law requires remote sellers with at least $100,000  in sales or 200 or more  transactions annually in S.D. to collect S.D.…  Read more

How to set payment terms if you’re a freelancer or contractor

Following up on late or non-paying customers is no freelancer’s favorite task. Which is precisely why you need to set payment terms up front – and in writing – before you work with a new client or customer. By communicating and agreeing on the non-negotiables for doing business with you, you’ll avoid awkward misunderstandings, frustrating disputes, and in most cases, the ugly hassle of debt collection. These tips will help…  Read more

How to learn from failure in business

Business Failure Ask any successful entrepreneur about their path to greatness and you’ll get the same answer: failure is an inevitable part of the journey. It took Thomas Edison 1,000 failed attempts before he finally invented the light bulb. Tim Ferris received 25 rejections before his bestselling book, “The 4 Hour Workweek” was finally published and sold millions of copies. It’s a fact that 20% of businesses fail in their…  Read more

Year End Taxes

It is that time of year again when we start to think about year end taxes.  This year will be interesting.  Although the political talk is that taxes have been simplified, that is far from true.  There are more than 500 changes to the tax laws and an additional 6 forms on the individual return so that it could be said you can file on a postcard.   And although itemized…  Read more

Which home loan is right for you?

Home Considering home ownership? Congratulations! Buying a home is an exciting milestone and for most people, one of the biggest investments they’ll ever make. Among the many decisions to be made along the way, you’ll need to choose the best mortgage option for your circumstances. In this blog we’ll weigh the pros and cons of fixed, variable, and revolving credit home loans to help you make the right choice. Why…  Read more

Reasons to consider hiring a CPA

Financial Planning For business owners who want financial security now and freedom in retirement, having a CPA on the team is a must. A CPA will create a customized, strategic action plan to help you achieve your personal financial goals. Getting to know you and your business inside out is the first step we will take to understand where you are now, where you want to go, and then determine…  Read more

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