It’s not uncommon for business owners to consider their businesses as their retirement plans. At retirement age, the plan is to sell the business for cash, or to give the business to a family member in return for a share of future wealth. It might work out, but it’s risky, because if your business fails, […]
Retirement Planning for Small Business Owners Read More
If you are self-employed or the owner of a business, you should seriously consider getting a business credit card and use it exclusively for your business-related purchases. Picking the right card can save you time and money – let’s see why. Taxes: Your business expenses are tax-deductible. The easiest way to keep track of these
Reasons You Should Have a Business Credit Card Read More
Tax season is no reason to panic if you plan in advance. Owners of small business should take steps, whether they do their own tax preparation or use a CPA. Here’s a checklist of important preparatory actions: Bookkeeper: If you use a bookkeeper, set up a meeting, even if she doesn’t prepare tax returns. She
Tax Checklist for Business Owners Read More
Entrepreneurs bring all sorts of skill-sets to their venture, such as the ability to sell, or to organize activity, or to raise funding. Some might have a business background, but others might need to learn the ways of business while on the job. Here are 14 terms you and every entrepreneur should know, because they
13 Finance Terms You Should Know as a Business Owner Read More
We are often asked whether now is a good time to take out a business loan. Our answer is usually, “It depends.” Let’s explain. Two sets of factors figure into the timing of a business loan – macroeconomic and microeconomic. We take a closer look below. Macroeconomic Factors In general, it’s a good idea to
Is Now the Best Time for a Business Loan? Read More
An American College survey of business owners found that 60 percent of respondents have not met with a financial advisor, and few had developed contingency plans for future events that could affect their businesses. A financial advisor has the expertise and experience to help you maximize the effectiveness of your capital investment in your business,
How to Tell if It’s Time to See a Financial Advisor for My Business Read More
The new year brings opportunities to make your small business more successful. There’s no better place to start than with your annual budget. It encapsulates your revenue and expense expectations in a single spreadsheet. Here are some handy tips for creating your new budget: Analyze last year’s budget: How closely did your estimates match actual
Tips for Creating Next Year’s Budget Read More
As the days are winding down at the end of the year, it may be tempting to relax and start planning for time off during the holidays. However, business owners should know by now that there is rarely time to relax when running their business. The end of the year is actually the perfect time
3 Things you can do NOW to Avoid Tax Headaches Next Year Read More
Similar to a high FICO score, it is important to have a strong business credit score. In order to qualify for loans or get approved for trade credit, you must prove that your company is a safe bet for investors, banks and private lenders. A low business credit score signifies that your business carries a
3 Ways to Strengthen Your Business Credit Score Read More
Having a great idea and running with it is not enough to operate a successful business. A business owner must wear many hats when operating their company, but managing and understanding their finances doesn’t always come easily. Relying on a business manager or an accountant is a beneficial way to verify that you are conducting
Small Business Tips: Increasing Your Financial Literacy Read More