How to Choose a Small Business Structure That Sets You Up for Success

You’ve nailed your business plan and you’re ready to launch your own business. Woohoo! Go you! Or maybe you’re a freelancer and you're beginning to realize you need to get a bit more organized to manage expenses and taxes.

Whatever your path of small business growth, choosing the right legal structure from the start will make it easier for your business to grow and change over time. It will help you to streamline your finances and your taxes, and provide you with a blueprint for handling the changes your business will experience as it expands.

14 Home Office Deductions For The Small Business Owner To Consider

Owning a small business is exciting, fulfilling, and quite a wild adventure. From deciding how you structure your business to how you handle employee onboarding, there’s a lot to consider. One of those considerations: taxes. Filing your taxes may not be a business task you particularly enjoy, but it’s important nonetheless.

Of course, it’s critical to file your taxes correctly so you remain in the good graces of the IRS. But perhaps more appealingly, filing your taxes can even help you maximize your profits.

Start Tax Planning Now! How To Navigate Tax Strategies And Avoid Mistakes

The actions we take today can significantly benefit our future selves, whether it’s cleaning up our diet, investing in healthy friendships, or getting our tax paperwork in order.

Come early 2023, I want you to feel prepared — and relieved — that you had the foresight and knowledge to get you and your business ready for tax season. Planning early may seem somewhat insignificant in midst of all the work you’re busy with. But in reality, taxes are a huge part of your business's overall financial health and affect a lot of high-level business decisions.

When Are Small Business Taxes Due? Your Easy Guide to Tax Navigation

If you’ve ever found yourself asking questions such as “when are taxes due?” or “what should I expect to owe in taxes?” this article will help you understand everything you need to know about taxes as a small business owner.

3 Tips to Tackle Big Expenses For Your Small Business on Labor Day 2022

With the end of summer comes lots of fun and anticipation. Back to school, football, the end of the 3rd quarter, and a time to plan how the end of the year will look for your small business. And with the state of inflation, why not take advantage of Labor Day sales 2022 to tackle some big expenses for your small business?

Today I’m discussing why Labor Day sales 2022 can be a great tool for your business. Keep reading to find out how!

Why Employee Financial Wellness Is the Next Big Trend

How many times over the past couple of years have you heard someone mention struggling with money-related stress?

My guess is, probably too many times to count. And for every person who did mention it, there are probably several others who were too embarrassed to bring it up.

As a business owner, maybe you’ve struggled with finances over the past couple of years. The global pandemic wreaked havoc on all kinds of businesses, big and small.

5 Easy Steps for Business Owners to Conduct A Mid-Year Financial Checkup

You probably started the year off with the best intentions for your business. As a responsible business owner, you set your goals when the new year rolled around. Maybe you wanted to hit $25k in revenue per month. Or perhaps you set your sights on expanding the services you offer.

A mid-year financial checkup is the best way to evaluate whether or not you are on target to hit your goals. And if you’re not, then it’s a good time to course correct.

3 Questions to Ask Yourself Before Investing in Your Business

As the old adage goes, “you need to spend money to make money.” But how do you know if you’re making the right decisions with your business spending?

Understanding expenses vs. investments is key. It’s important to be intentional about your business to keep your expenses from spinning out of control, but it’s also necessary to know when your business needs an infusion of capital to make meaningful strides forward. Keep reading to learn the 3 questions you should ask before every investment.

How to Help Your Child Pay for College (Without the Debt!)

Planning for college costs in advance can reap tremendous benefits for your child. Instead of having an average of $28,950 in student loans to tackle when they graduate, they can put their money to work for their futures. Without college debt they can use the money they earn to start investing in their retirements, continued education, or even begin saving for a home.

If you’re interested in how to avoid college debt and want to make sure your child isn’t one of the 43 million Americans with student loan debt, read on to find out what you can do to help!

5 Common Money Mistakes Small Business Owners Make (And How to Fix Them!)

When you first set out as an entrepreneur, being your company’s chief financial officer (CFO) may not have been top of mind. But even if you’re not a numbers person, have no fear!

We’re here to help you avoid common small business money mistakes — and figure out what to do if you’ve already made them.

4 Ways to Prevent Loss Aversion From Affecting Your Bottom Line

As a small business owner, you know the pressure to succeed can be… heavy. And because no one else can take responsibility for your business, that burden can feel both overwhelming and isolating — especially when you depend on your business to support your family and your livelihood.

I get it! With so much on the line, it can be easy to let fear take over when it comes time to make important business decisions. But ironically, this fear can actually prevent you from reaching the success you so desire.

As it turns out, there’s a name for this sense of fear in the world of business and finance: loss aversion. Keep reading to learn 4 ways to prevent it.

Financial Literacy Month 2022: How to Save for Big Purchases in your Business

Maybe you’ve gotten the hang of planning for your monthly business expenses. Your internet bill, monthly subscriptions, and software all have a place in your budget. And each month, you pay the bills on time. You’re feeling good! You’re a business owner, and you’re taking care of business.

But then, all of a sudden, another expense shows up. The yearly fee for your website. The cost to renew your LLC. After years of reliable companionship, your computer finally breaks down.

Unlike your fixed monthly costs, these expenses don’t have a spot in your budget. They don’t have a pile of money with their name on it, waiting to be spent. So how do you efficiently plan for them?

Top 10 Things to Make Sure Are on Your Financial Bucket List

Bucket lists allow us to turn our ambitions into an action plan. By writing down our wildest dreams, we take them from our imagination and lay them out in plain English. Our dreams become that much more real and, by default, that much more likely to happen. It’s easier to see the actions we need to take to achieve the goals after we’ve written them down.

But what about a financial bucket list?

9 Questions to Help You Determine If You Have a Hobby or a Business (and why it matters)

At some point, you may feel that your hobby is becoming more like a successful side hustle—or part-time business—than something you only do to relax or exercise your creativity. It’s important to properly distinguish between a hobby and a business because the difference can significantly impact your financial future, especially when it comes to filing taxes.

Business and Personal Finances: Keep Them Separate for Financial Success

When you run your own business, the line between what’s personal and what’s business-related can blur. But when it comes to finances, you’ve got to draw the line. Yes—your business and personal finances are intimately connected, but as a successful small business owner, you need to keep them separately organized if you want to live with financial ease.

Profit vs Revenue: Why Profitability Is More Important Than Revenue

Let’s be honest, when it comes to building a profitable business, the learning curve is steep.

Navigating the new terrain will be easier if you focus on the right goals from the beginning. And one of the most important goals is to focus on is how profitable your business is.

Focusing on profitability will help to prevent your dreams from becoming a cash flow eating nightmare.

6 Ways to Give Thanks With Extra Money in Your Budget This Year

If you’re one of the lucky ones who continued to grow throughout the pandemic, you may find that your business has extra money in the budget as you’re doing your year-end financial reckoning. This can be a good opportunity to pay yourself more, increase the stability of the business, or invest back into the business.

It can also be a great opportunity to give back to your community and say thanks. If you’re feeling so inclined, here are six ideas for how to give thanks with extra money in your budget this year.

The Ultimate Year-End Financial Checklist for Busy Small Business Owners

Remember the old adage; businesses who fail to plan, plan to fail. By completing the steps in this year-end financial checklist, you can rest easy knowing that you’re creating a plan for success. You can’t improve what you haven’t measured, and this checklist will help you measure all the right things for year-end planning and improved forecasting.

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