As a business owner, reviewing your financial results regularly is essential to making informed decisions. Whether you’re closing out the prior year, managing operations on a quarterly basis, or simply planning for the future, analyzing your profit and loss statement (P&L) provides crucial insights. Let’s dive into how you can review your business financials effectively […]

Managing your business finances often means seeking smart strategies to minimize tax burdens. One intriguing question that some business owners ask is whether adding their children as part owners in the business can reduce their tax obligations. In this post, we’ll walk through Jamie Trull’s expert insights on this strategy, break down how it works, […]

If you’re overwhelmed by bookkeeping software like QuickBooks and just want a simple, cost-effective way to track your business finances, this blog is for you! Not every entrepreneur needs complex accounting software, especially in the early stages of a business. With a spreadsheet solution, you can stay organized, monitor profitability, and prepare for tax season—all […]

The start of a new year is the perfect time to realign, strategize, and set small business goals for new year and new success! Whether you’re wrapping up 2024 or preparing for what’s ahead, January provides a unique opportunity to reflect on your New Year’s resolutions for your business and make a plan for impactful […]

If you run a business with salaried employees, there’s a critical update from the Department of Labor (DOL) regarding the new overtime rule you need to be aware of. New overtime rules come into effect in July 2024, with additional changes planned for January 2025. These changes might impact payroll requirements, your employees’ exempt status, […]

We’ve got the ultimate cash flow forecast template for you … because we know managing personal and business finances can feel like juggling multiple priorities. Some months, the cash flows easily, and you feel in control. while other months are tight, making it difficult to make ends meet. If you’ve ever felt overwhelmed, know that […]

BOI NEWS: REGISTRATION REQUIREMENT UPDATE AS OF February 9, 2025 Currently BOI reporting is voluntary for the most up to date information visit: www.fincen.gov/boi 😳 URGENT BOI NEWS: REGISTRATION REQUIREMENT UPDATE AS OF 12/24 More BOI News! The courts clearly weren’t in the Xmas spirit- the appeals court OVERTURNED the recent injunction the Texas court […]

Cash flow forecasting is crucial for business owners who want to avoid financial surprises and engage in effective cash flow planning. Even profitable businesses can experience cash shortfalls, making it difficult to cover expenses and pay yourself on time. The cash flow forecasting process is essential for managing liquidity and making informed decisions. In this […]

If you’ve ever wondered, “How Many Business Bank Accounts Should I Have?” you are not alone. Managing all of your business finances through a single checking account can cause chaos, leading to disorganization and missed opportunities for savings. To take control of your business cash flow and prepare for growth, it’s essential to implement a […]

Many small business owners experience irregular income—one month’s profits soar, while the next month, business slows to a crawl. This unpredictability makes it difficult to plan, pay bills, hire staff, or reinvest in your business. It is crucial to account for all the money coming in before planning expenses, ensuring that fixed and essential expenses […]