Moneying articles focus on all aspects related to business finance, including budgeting, bookkeeping, pricing strategy, insurance, and more. Since you presumably went into business to make money, knowing how to manage it effectively will help keep you in business and move you toward the profitability you seek.
Business name. Location. Equipment. Logo. Hiring choices. When you launch a small business, you are inundated with decisions and choices to make. One of them you may need to know more about is choosing the tax year for your business. The Internal Revenue Service requires you to operate your business according to a consistent accounting period. You must report your taxable … [Read more...]
Benjamin Franklin once wrote, “In this world nothing can be said to be certain, except death and taxes.” And to that, many a small business owner can add accounting. As a small business owner, you naturally want to spend your time making your product or service the best it can be, not crunching numbers. The problem is that if you don’t spend some time balancing your expenses … [Read more...]
As a small business owner, it is natural to try to cut operating costs wherever you can. One of the ways you may be doing that is by managing your own finances. You may figure you can always get help at tax time and handle things yourself the rest of the time. Whether you are a sole proprietor or operate an employee-based LLC or corporation, however, a good accountant can … [Read more...]
There is no doubt about it that when you seek out small business ownership, you are looking for a certain way of life and the perks that come with it. Obviously you will need to work hard to get there, but one of the top reasons for going into business for yourself is all of the tax breaks and advantages that are available to a business, compared to what you can get as an … [Read more...]
If you are ready to launch a new small business, you may be wondering what types of insurance coverage you need. Just as you insure your home and your car, there are certain policies you need in order to protect your business from risks associated with unexpected events, liabilities and other losses. Here is a rundown of the basic types of business insurance coverage. The … [Read more...]
There are many things to consider when managing a business; hiring, marketing, and actual delivery of the goods or services to your clients. At any stage of delivering value to your clients, things can go wrong. Miscommunication can lead to missed deadlines, poor internal controls can lead to quality problems, and staff can leave on short notice; leaving you in the … [Read more...]
The Ancient Roman playwright Plautus is credited with coining the phrase: “You must spend money to make money.” Certainly, as a small business owner, you know that to be true. Even with the leanest start-up, there are costs to running a business. The trick, of course, is to earn more money than you spend. Here are five key ways you can keep more money in your pocket. … [Read more...]
Chances are if you are reading this then you already know the dangers of debt. The fact of the matter is that debt is a two edged sword. Debt can cripple anyone if they aren’t careful and some people have even shied away from debt entirely. Having debt can creep up out of nowhere on a person or a business and they can find themselves owing a lot more than they originally … [Read more...]
When you launch a small business, you handle many details. One detail you may have overlooked is key person insurance. In fact, you may not even know what it is. However, key person (sometimes called “key man”) insurance can be an important way of keeping your business up and running in the event of the unthinkable. No one wants to think about what would happen in the event … [Read more...]
Sometimes the numbers just don’t work. You need that bottom line to increase as soon as possible, like yesterday, but something just isn’t clicking. It happens in every business at some time or another, but what can you practically do? You already offer a great service or product at fair prices. Customers are happy and there are plenty of them. Business is booming but the … [Read more...]
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