Imagine your business is so financially strapped that in order to pay off your creditors, you have to take another loan, from another creditor. At this point, you are paying off interest while racking up more interest. A business can not stay afloat for long in this type of situation. Unfortunately, I’ve seen situations like…
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Is your bookkeeper handling your business books correctly? If you aren’t trained in accounting, don’t be too quick to say yes… Bookkeeping is often one of the first tasks to get outsourced to a contractor or bookkeeping firm, which is a great strategy for entrepreneurs that dislike the task. But YIKES – I get antsy…
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Business is great. You are so busy that you’ve been burning the candle at both ends just to keep up with all of the new orders coming in. The best way to describe you at this moment is happy, but utterly exhausted. You were already asleep before your head hit the pillow last night, and…
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Did you know that a contractor, a business partner, a vendor, a customer – literally anyone – can fill out a form with the IRS stating that you may be misclassifying your hired help as contractors when they should be employees? Yikes! As if an IRS audit is bad enough, an IRS audit that comes…
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I once had a boss that often said, “Working would be easy if we didn’t have to deal with people.” Regardless of what you are selling – whether services or widgets – you have to deal with someone: a colleague, a customer, tech help, or marketing support. People make our businesses successful. And, sometimes, people…
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$256,143.10 That is the amount of taxes, fees, and penalties that Special Occasions Invitations owed the government in back taxes. Jorge and his wife Louisa, the business owners, had no idea. 15 years ago, Jorge and Louisa decided to chase the American dream and start their own business. They started brainstorming ideas and when a…
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If an unexpected economic crisis hit our country later this year, would your business survive it? In March 2020 when the COVID-19 pandemic swept through our country, there were businesses that were able to weather the storm and are still in business today. Unfortunately, it’s estimated that 29.7 percent of all small businesses in the…
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Lisa owned a successful floral shop downtown. Or at least, she felt like her small business was successful. But for some reason, the financial status of the shop never quite lined up to how busy the business was. She worked hard and had a good pricing model for her products. She had even secured several…
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It’s the end of 2021. After a year of what I hope has been a very successful and busy year for you and your business, it’s time to take a deep breath, relax, and enjoy the holiday season with friends and family. You deserve a much needed break to refresh yourself for the upcoming new…
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Imagine it’s January or February 2022. You are preparing for the upcoming tax deadlines, but as you begin to pull everything together, you realize you are missing crucial elements. Maybe you have important questions only your tax advisor can answer, but now they’re in the thick of tax season and are nearly unreachable. Maybe you…
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