There have been many changes to tax law which are effective for 2018, which is why you're definitely going to want to have a chat with your Accountant before the end of the year. (Don't have one? Find one today!) Here are 3 questions that you definitely want to ask as soon as possible. What's this new 20% deduction on business income? As a small-business owner, this is likely one of your … [Read more...]
The Curse of Monthly Subscriptions
Monthly subscriptions are a great option when you're trying a new service, or you can't afford to pay for an entire year upfront - but they can end up being a curse if you don't stay on top of them! Many of us sign up for monthly subscriptions that we don't actually need, then we forget to cancel and end up paying fees month after month after month. So what's the best way to manage those … [Read more...]
How To Work With Your Bookkeeper
You’ve decided to hire a bookkeeper - that’s awesome! Get ready for daily processes to be streamlined, organized, and tax-ready. But how exactly is this new relationship going to work - especially if you’ve hired someone who only works virtually? How can you make sure your bookkeeper gets everything she needs to do her job - without making even more work for you? Here are some tips that will help … [Read more...]
5 Reasons For Getting A Business Credit Card
If you don’t already have a business credit card, you’re not going to want to miss this post. One little card can have a large impact on how you run your business, from bookkeeping to enjoying special perks. What important advantages are you missing out on? A Stolen Card Won’t Drain Your Account One day you’re flipping through your wallet to get your business debit card. Your heart sinks … [Read more...]
Pay Yourself Already!
One of the best parts of running your own business is paying yourself, but too many small business owners don't understand how to - or worse, they put their own interests last and don't pay themselves at all! How to Pay Yourself as a Sole Proprietor As a sole proprietor, you are your business, and the IRS taxes you accordingly. Whether you actually pay yourself or not, you'll be paying taxes on … [Read more...]