Technology has provided businesses with a number of ways to minimize travel requirements. Virtual meetings, web conferencing, and other technologies offer new ways to do things that used to require a plane ticket and a hotel stay. Still, there are times when your employees are going to need to travel, and when they do, you want to make sure you’re getting the best possible rates.

Here are some ways your business can maximize its employee travel savings and keep business travel expenses deductible through careful planning:

Carefully restrict the amount of travel necessary for your business. Let’s face it: it’s not the 1980s. There are a hundred different ways your employees can communicate with your branch offices, your clients, … Read more →

Just because you’re hiring someone to do your taxes doesn’t mean you want to pay them more than what’s necessary. If you show up at your tax professional’s office with shoeboxes full of receipts, she can absolutely turn that into a tax return; however, it’s going to take much longer than it would if you simply brought her a tax preparation checklist.

Preparation will save your tax professional time and will save you money. Here is a tax preparation checklist to help you streamline the tax process for your business:

Tax Preparation Checklist

1. Organize your expenses and your income.

This is a bit more complex when you’re running a business than when you work for someone else, but the … Read more →

Starting a new business is a delicate thing. There is any number of things that can bring your business to a grinding halt, forcing you to close your doors. In fact, within one year of opening around a third of new businesses fail. Within three years of opening, that number goes up above 50%.

In some cases, the factors that shut down your business are out of your control. Rapid changes to your market or supply chain problems aren’t always something you can recover from. However, there are some serious financial mistakes you can make when starting a new business that will cause you serious trouble.

Here’s a look at some of the biggest financial mistakes made when starting a … Read more →

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