For the love of your business

Articles to LIFT Your Life and Business

What You Should Expect From An Effective Bookkeeper—Part 1

Money 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 […]

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What tax breaks does Trump’s new tax law offer small businesses in 2019?

Q: 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 […]

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5 Reasons You Need Standard Operating Procedures

Standard 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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Cutting Corners With Contracts Can Cost You

Running a company is a massive responsibility, so putting a lot of thought and effort into your contracts might be pretty low on your list of priorities. But giving short shrift to your legal agreements can cost you big time—and in more ways than one. In order to save time and money, you may be […]

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Save Big Money On Your 2019 Taxes—Part 2

In the first part of this series, we discussed the initial steps for saving big on your 2019 taxes. Here, we describe the next steps in the process.   Taxes are a thorn in just about every entrepreneur’s side. Indeed, taxes are your single biggest business expense. That said, it’s fairly easy to reduce the amount […]

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Save Big Money On Your 2019 Taxes—Part 1

When you first realize that your biggest personal and business expense—bar none—is taxes, it can come as quite a shock. Seeing so much of your hard-earned money wind up in the government’s hands can feel like a shakedown. Yet focusing a relatively small amount of time and effort into strategically reducing your taxes can pay […]

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4 Ways To Scale Your Business for Sustainable Growth

Scaling your business is about effectively planning and preparing for growth, so as your operation gets bigger, your costs and workload don’t increase to unsustainable levels. To properly scale your business, you should be increasing revenue at a rapid rate, while increasing costs at a much slower rate. Growth is only sustainable if you have […]

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Is my business website considered my intellectual property?

Q: Is my business website considered my intellectual property? -Concerned Coder A: Dear Concerned: Your website is most certainly intellectual property (IP). But whether or not it’s your IP depends on whether or not you were the one who originally created the website.  When it comes to IP, patents protect inventions, trademarks protect brand names, […]

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3 Strategies For Engaging and Managing a Remote Workforce

There are numerous advantages to running a business with a remote workforce. Without a physical office, startup costs and overhead are significantly lowered. You aren’t limited to hiring locally, so you have a much better chance at attracting top talent. And increased employee autonomy typically increases job satisfaction, which can boost productivity and morale, while […]

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New Bill Stands to Dramatically Alter Worker Classification in California

State legislators in California recently passed a controversial new bill that requires many companies like Uber and Lyft, which rely primarily on independent contractors, to reclassify their contractors as employees. The bill, known as Assembly Bill 5 (AB 5), stands to upend the business model of the affected companies in California and potentially impact the […]

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Protect Your Business and Family Through a Living Trust

While various types of insurance can protect your business from lawsuits and other liabilities, perhaps the greatest liability of all—especially if you’re the sole owner of your business—is what could happen to your company when you die or if you should become incapacitated by accident or illness.  To ensure your business—and the income it provides […]

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