When running a businesses it is a must for the business owner to keep all of the business’s receipts. However, as you accumulate more and more receipts, your desk drawer may not cut it any more. Receipts are important to keep track of and represent a financial record which is essential come tax time. Keeping…
Developing and understanding a business budget is one of the most important aspects of a successful business operation. In fact one of the very first steps you should take is researching your costs to ensure your budget is accurate. Unfortunately, many business owners underestimate the value of cost research. The knowledgeable experts at Mark Dicus…
While you may have a beautiful office somewhere, many of us have had to transform our homes into our offices since the pandemic hit America so hard. If you have been working from home since this crisis hit, you may be able to use some of your PPP funds to cover things like rent, utilities…
The primary element of making your business a success is knowing and understanding your financials. Unfortunately, many business owners struggle to understand all the different aspects of their financials. Where you may have experts assisting you with tracking different data, you might be unclear what to ask them to produce. Tracking profit margin might seem…
Many businesses often have trouble finding the right balance of price value and profit. When deciding how much to sell an item for or charge for a service, sometimes the set value is too high or too low. Both can affect your cash flow. When a business has been having cash flow problems, often they…
There are different types of people that you will see when it is time to work on your taxes. The one type has a file that they have set aside and collected all the documents that they would need to file their taxes. The other type seem to be the one that is unsure about…
Much of the time, when people start up a new business, they don’t understand the importance of proper financial management. This may be why 80% of all new business will likely fail within the first 18 months of getting started. While it does cost money to hire professional help to handle your finances, it will…
Running a small business right now may feel very stressful with the economy in the state it is in. How will your company make it through these difficult times? There are many aspects of running a business and all of them demand the right amount of attention. One of these aspects is your business’s tax…
Reporting that all expenses have been properly classified and that all of them have been reported is part of the process getting the books ready. Tracking all the expenses associated with businesses that involves travel for multiple people, can prove challenging. You can find ways to successfully track and manage all the expenses related to…
Often associated with a startup business, is a pivot. For the first year or two, a startup business spends the time testing the market, analyzing numbers, making adjustments, and finding the right path. In some instances, the business is not profitable and will need a new direction, which is known as a pivot. This is…
