April 3, 2019
top ways to build financial stability in a small business

3 Simple Ways to Build Financial Stability in a Small Business

Why are you trying to grow the value of your small business? Well, maybe you want to sell it at some point in the future. Or maybe you want to merge it or go public with it. Maybe you’re looking for investors. Whatever reason you have, the idea is to reach maximum value growth within your company. Yet, no one will find any value in your company if your company isn’t financially stable. Inevitably, your company’s financial volatility or stability serves as an external indicator of the business’s health and well-being. So just how do you build financial stability in a small business?
April 1, 2019
legally Protect Your Business

Stay Savvy… The Basics That Minimize Risk to Your Business

If you run your business as an entity (an LLC, a C Corporation, or a Sub Chapter S Corporation), you must abide by certain federal and state regulations. In fact, the type of business entity you operate dictates the types of documents you must keep, the fees you must pay, and the taxes for which you are liable. Therefore, if you are working to grow a best-in-class business, then you must do everything possible to stay compliant with state and federal regulations. Doing so will protect your business entity and protect you in case of litigation.
March 29, 2019
Different Taxes Small Business Owners May Owe

“Missing” Taxes Checklist for Small Business Owners

A couple of years ago, I was hired to help a business owner plan the sale of his business and build a life long income plan. His company was profitable, and he had worked hard to grow its intrinsic value. Yet, we could not sell his company at the price he desired. Why? Because he hadn’t paid all of his taxes. Now, my client hadn’t purposefully eluded tax payments. He just missed one, year after year. He had no idea it was due, and it ended up costing us the sale of his business. I don’t want that to happen to you. Therefore, I’m giving you a taxes checklist with 11 common taxes small business owners need to check for delinquency.
March 27, 2019
Financial Statements Business Owners Should Examine

9 Financial Statements Business Owners Should Examine Regularly

I don’t know about you, but I like to look at my company’s financial reports. To me, financial statements are vital for the S.W.O.T. Analysis you and your team members perform during your strategic planning sessions. If read and understood, they can reveal many of your company’s Strengths, Weaknesses, Opportunities, and Threats. However, I often run across business owners who do not know what types of financial statements to pull or how to read them once printed. Therefore, I’ve put together a list of nine financial statements business owners should examine during their strategic planning sessions.
March 26, 2019
Tax Tip Tuesday Financial Blog Post

Estimated Tax Payments for Business Owners

As a small business owner, you should be paying quarterly estimated tax payments. However, with the Tax Cuts and Jobs Act, you may want to revisit those amounts this year. By checking what you are paying now, you may avoid an unexpected year-end tax bill next year and a possible penalty in the future.
March 25, 2019
Which Budget Strategy is Best for Business Owners

Zero-Based or Incremental… Which Budget Strategy is Best for You?

The word “budget” often strikes fear in the hearts of business owners. Yet, a budget is simply a tool that allows business owners to make prudent and wise decisions. That’s all it is. Nothing more and nothing less. So today, I want to talk about two different budget strategies you can use to anticipate your yearly income and expenses: the zero-based or the incremental budget strategy.