You’re a new business owner. It’s thrilling and a bit overwhelming, I imagine. This is my 20th year in business and I still remember those early days like it was yesterday. There was so much I didn’t know, but I was ready to work hard and learn from others in order to be successful. I…
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What keeps you up at night? For most small business owners, it’s taxes. There are many pulls on an owner’s time and attention, but I would venture to guess that income taxes is one of the biggies that need to be better understood by most. Lack of understanding naturally creates anxiety and fear about this…
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In the intricate world of business ownership, one topic that frequently puzzles entrepreneurs is employment taxes. With its complex regulations and financial implications, understanding the ins and outs of employment taxes is paramount to ensure compliance and financial stability. In this article, we will discuss how to navigate these complexities so you can have peace…
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Understanding how to pay yourself as a business owner can be perplexing. When I started my business in 2003, I faced the same dilemma. Having worked in public accounting, I was accustomed to dealing with large businesses but not being the owner myself. Transitioning from receiving a paycheck to being the one writing the checks…
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I have previously written about the need to have a number of checking accounts, including a payroll checking account, when starting or running a small business. An additional suggestion I would make to owners who have more than one location, or legal entity or operate in multiple states is to set up a separate legal…
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If you are like most businesses you want to grow and hiring employees is usually a necessary step in that process. One of the biggest questions we get when this step starts to take place is ‘can I afford to hire this person or not’, and then ‘if I do hire them what all do…
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We get this question all the time from new clients and new business owners. “What bank account should I open?” We also get this question “I feel like it’s a good idea to have accounts at multiple banks.” The answers are “it depends” which is the typical accounting answer, but I believe there are a…
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Our goal as an accounting firm has always been to help our business owners make more money and keep more of it. We desire to give you the insight you need to run an awesome business, and we do this by providing both systems and insights so that your back office support (us) is a…
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As an owner I am often the biggest bottleneck in our business. I have the best of intentions when I volunteer to help someone or get involved in the sales process because I received a direct referral. Unfortunately I am not best suited to do those things any longer. I am sure I am like…
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Raise a glass (and a budget worksheet) to 2021! Join our webinar December 4 at 11 a.m. CST for in-depth budgeting tips and new year forecasting for 2021. For now, here’s a brief overview of best practices for getting ready for the new year. What are some things to think about to position yourself in…
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