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Your small business runs on the principle of efficiency. You work hard, and you do what you can to make sure everything goes smoothly. You provide a quality product or service to your client, and you accept a reasonable fee for doing so.

Yet, there are some aspects to running a business that business owners just seem to get wrong. Most of us aren’t accountants, for example, which means we make lots of accounting errors.

Fortunately, there are some things you can do to identify those mistakes and to keep them from happening.

Here are some of the most common small business accounting errors:

Doing it yourself. Some business owners have a background in accounting, or they’re in a business… Read more →

An integral part of your success in a startup business is making sure you’re in a good place from the tax perspective. You need to be able to get through that first couple of years without a heavy tax burden, and reaping the benefits of having a business loss. Once your company is turning a solid profit, things will change, of course.

Here are some important new business tips to keep in mind as you plan the tax strategy for your business:

New Business Tips- #1. The first and most important tax decision you make is your new business structure.

When you’re first starting a new business, you need to choose what legal entity your business will use. You’re looking … Read more →

A solid, focused, well-written business plan is about more than simply securing funding when you’re first starting a business. With the right business plan, you have a map of the future. You have in-depth directions on how to get your business from where it is today to where you want it to be.

Yet, as any small business owner can tell you, things change. The market might experience some upheaval, and so you adjust your business strategy on the fly. After a couple of years, your business plan might be rather irrelevant to what you’re actually doing on a day-to-day basis.

To take advantage of the benefits a business plan offers, you need to make some updates. Here are some … Read more →

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