Is it Safe to Take the Home Office Deduction?
Home office expenses can be an overlooked source of valuable business deductions. Many business owners don’t claim them because they fear (incorrectly) that home offices are an audit “red flag,” or because the recordkeeping is a pain. But under the IRS “Safe Harbor” method, that may make home office deductions more accessible. IRS Revenue Procedure 2013-13 […]
5 Tips to Make Tax Time Less Taxing
Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on making Tax Time it just a bit less taxing. Have patience. Practicing patience will go a long way when you’re dealing with taxes. Keep in mind that for tax […]
The Perfect Chart of Accounts for Your Business
Your “Chart of Accounts” is the list of accounts in your accounting system. The accounts, or categories, are listed on your reports, and the totals tell the story of how much your company spent, made, own, or owe depending on the type of account. It’s essential to create a list of accounts that you need […]
The Value of a Virtual CFO to Your Small Business
In today’s business environment, the role of the CFO cannot be emphasized enough. This is because CFOs are critical for businesses to grow and flourish continuously. However, many small and medium-sized businesses do not have the financial power to hire a chief financial officer CFO on a full-time basis. Most of the companies have accountants […]
How to Protect Yourself from Identity Theft
The security breach at Equifax a few months ago left many people thinking once again about identity theft. The best thing is to do everything you can to prevent it from happening to you. Here are a few tips to help you reduce your risk of being a victim of identity theft as well as […]
Five Simple Ways to Start 2018 Off Right
Happy new year! January is the month of new beginnings and a perfect time to strategize about projects that will boost your business prosperity. Here are five ideas to get you thinking about new beginnings for your business in 2018. 1. Learn new technology. Every year, tens of thousands of new online software applications are […]
Get Ahead on Business Year-End Tasks
Business Year-End Tasks Year-end is just around the corner, and that means some administrative tasks are necessary to take care of bookkeeping and tax prep for your business. Here are a couple of tips to make year-end go smoother. Cleaning up Things will go a lot smoother if you reach out to your vendors and […]
How to Write Your Mission Statement
Mission statements are not just for large corporations. As an owner of a small business, you can benefit from going through the exercise of writing your mission statement. It can not only re-connect you with your “why” it can also communicate an important part of your business to all of your stakeholders. What Is a […]
Cool Apps: Chatbots
In the last year, chatbots have exploded. A chatbot, short for chat robot, uses artificial intelligence to imitate a conversation with people. One place they have exploded is the Facebook Messenger app, which is a free instant messaging platform. To get Facebook Messenger, you can download the app on your smartphone or go to https://www.messenger.com […]
Top 5 Tips to Beat Procrastination
(the Thief of Time)
Would you call yourself a procrastinator? If so, you’re not alone, and with our to-do-lists growing daily, the percentage of people who procrastinate chronically has increased over the last few decades. There’s a difference between procrastinating and prioritizing. Great entrepreneurs know how to put the most important tasks first. There’s also a difference between procrastinating […]