For the love of your business
For the love of your business
Employment agreements are a vital tool for laying out the specific terms and conditions of the employment relationship, so your employees and contractors understand exactly what’s expected of them while working for you. But employee agreements can also be used to prevent workers from harming your company after they leave your employment. Whenever an employee […]
Read MoreThe end of the year is always a hectic time for business owners. Between managing your day-to-day operations, planning for the upcoming year, and dealing with the holidays, the period from Thanksgiving through the New Year can feel like a rollercoaster ride. Of course, if you are properly handling taxes for your business, the end […]
Read MoreDuring the startup phase, it’s easy to get overwhelmed by the massive amount of work it takes to get your operation up and running. You’re so focused on the daily tasks needed to keep your doors open, it can be easy to put off administrative duties that aren’t aimed at bringing in revenue or attracting […]
Read MoreOne of the biggest advantages of running a family business is being able to employ your minor children. By hiring your kids, you have the opportunity to teach them the value of hard work, give them experience managing money, and allow them to save for their future. In turn, you get workers who have a […]
Read MoreQ: What are the penalties for misclassifying employees? -Concerned CEO A: Dear Concerned: Hiring independent contractors (ICs) can be a great way to save on labor costs and avoid the HR hassles that come with traditional employees. But misclassifying workers, even unintentionally, can lead to serious consequences, which could potentially destroy your business. In today’s “gig” […]
Read MoreLimited Liability Companies (LLCs) are a popular business entity with many entrepreneurs. Like corporations, LLCs offer valuable personal liability protection for their owners. Unlike corporations, however, LLCs aren’t required to adhere to the same burdensome record-keeping requirements and other corporate formalities corporations must follow. That said, while the administrative requirements for an LLC are far […]
Read MoreAs we approach the end of 2019, you should be working with your bookkeeper and tax advisor to project your company’s year-end tax liability and implement strategies for saving as much money as possible. Most tax-saving strategies need to be in place before the end of the year, so make sure you get this process […]
Read MoreIn the first part of this series, we discussed what effective bookkeeping looks like, and here we’ll provide a handful of bookkeeping best practices you can implement with your bookkeeper. It can be easy to overlook the vital role your bookkeeper plays in your business. In the not-so distant past, bookkeepers were often viewed as […]
Read MoreMoney is the lifeblood of your business, and arguably no member of your team does more to support you with the management of your cash flow than your bookkeeper. In fact, the very first team member you hire should be a bookkeeper—and that person should not be you. If you’re serious about your business, you […]
Read MoreQ: What tax breaks does Trump’s new tax law offer small businesses in 2019? -Penny Pincher A: Dear Pincher: The biggest break offered by the Tax Cuts and Jobs Act (TCJA) was lowering the tax rate for C corporations from 35% down to 21%. But very few small businesses are structured as C corporations, so […]
Read MoreStandard operating procedures (SOPs) are detailed instructions describing the procedures for carrying out recurring business tasks. At first, creating SOPs for your company’s processes might not seem very important. After all, if it’s just you and a couple other people doing all the work, creating step-by-step instructions for each key task might seem like a […]
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