What is a Profit and Loss Statement? Every new business begins with a few brilliant ideas. But you cannot create a successful business unless you flesh out your ideas in a business plan and then turn those ideas into action. From there, you can continue to develop new ideas to keep the business growing strong…
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Year-end is coming up faster than you think since it is already the middle of October! I have three tips for you to be thinking about as you plan for your year end. These are things you can be doing right now to prepare your finances for year-end. #1 Get Your Bookkeeping Up to Date…
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April 18 came and went and hopefully, it wasn’t a painful (tax) day for you. Believe it or not, it’s never too early to start thinking about next year. If filing your taxes was a headache and a hassle in 2022, here are a few tips to get you prepared for April 15, 2023. Putting…
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Tax season is just around the corner now, which means it’s time for you to start thinking about finding some tax savings that could be critical to improving your bottom line. The truth is, any time of year that you start thinking about ways to save on taxes is a good time, although it’s better…
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Managing your finances is one of the most important business functions your company can have, and it’s no exaggeration to say that money management can literally make or break your business. At the same time, financial management is one of the biggest challenges facing a business owner, and it’s one that you simply must get…
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There may be a few reasons why you started your own business. However, one of those reasons was to make money. Another reason would have been to see your business grow, so you could earn even more money and have more of a work/life balance. But how do you achieve all of your goals in…
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Being profitable in a business. What does this mean? Well, it kind of depends on the business. Some businesses will need to be making millions of dollars in profits before they think they are profitable. Others will see a $1,000 profit as a huge win in their book. So, what does being profitable mean in…
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As a business owner, you have needed to learn a lot of jargon. One of the key terms you should be aware of by now is KPIs. If you aren’t really sure what a KPI is, it is a key performance indicator of how your business is doing. You really need to pay attention to…
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As a business owner, you know you are responsible for paying quarterly taxes and making sure your taxes are paid in full once a year. Paying those taxes can be simple, especially if you have an accountant doing all of the heavy lifting for you. What is not simple is the amount you must pay…
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As a business owner, your goal is to always make more money than your business is spending. Of course, it would be really nice to put part of the profits from your business into your own pocket. But that can only happen if you are actually earning a profit. And what if your profits are…
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