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Cost of hiring new employees training employees growth

The Costs of Hiring New Employees

By Business Advice

Even when new workers are needed, small businesses with cash flow issues often hesitate to hire because there are so many costs of hiring. Some business owners mistakenly think that the cost of hiring a new employee is their salary. However, there are other costs of hiring, including recruiting, training, and more. In this article, we’ll go over the various costs of hiring new employees. Let Orcutt & Co handle your accounting, bookkeeping, payroll, and tax prep for your Cincinnati-based business. We…

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Save the receipt business recordkeeping pile of receipts

Do I Need to Save the Receipt?

By Tax Advice

While it’s true that receipts are a pain and can get out of control quickly, it’s important to understand that as a business owner, you must save the receipt from a transaction. This ensures good recordkeeping. However, you’re probably wondering what receipts you need to keep and for how long. We will answer these questions below. If you have a business in Cincinnati, let Orcutt & Co help with your accounting, payroll, bookkeeping, and tax prep duties. We can help…

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Attract employees retain employees boss congratulating employee for good work employee rewards

How to Attract Employees to Your Business

By Business Advice

For today’s businesses, one of the biggest challenges is to attract employees and retain a skilled workforce. In this article, we’ll explain 5 tips for attracting and keeping employees for your business. Since these tips increase employee satisfaction, it will lower your recruiting costs and improve the productivity of your company. Today’s younger workers have a very different attitude about work than the older workers who are nearing retirement. Therefore, employers are facing more and more challenges with finding skilled…

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succession planning concept

Is It Time to Start Succession Planning?

By Business Advice

All across the world, as business leaders consider the future of work, evolving skills, and the talent shortage, succession planning is being added to business agendas. No matter what size a business is, unless there are good people in place, it will not achieve the performance expected to meet business objectives. If your business is located in Cincinnati, Orcutt & Co. can help you with accounting, bookkeeping, and payroll services. We can also help you with your succession planning- it’s never too early…

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Business man frustrated no growth

7 Reasons You’re Not Seeing Business Growth

By Business Advice, Uncategorized

Owning your own business can be one of the most rewarding journeys you ever start and most people would agree that they want to make a difference- they want to leave behind a legacy. Unfortunately, sometimes your business growth plateaus somewhere between start-up and profit. There is little that is more frustrating than working like crazy and not getting out what you are putting into your business. It’s important to understand that it’s common to invest in the beginning- but…

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business owner looking over financial statements

4 Financial Statements Every Business Owner Should Know

By Business Advice, Uncategorized

As a business owner, your days are full of many tasks that help ensure your business stays on track. When you do finally settle down at the end of the day, the last thing you want to do is go over your financials- but even so, it’s critical that you monitor your financial statements because they can help you predict whether your business is on track and profiting or if you are on a downward spiral. Your statements contain information…

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small business owner working on accounting

5 Accounting Tips We Have for Small Businesses

By Business Advice

Running a small business can be challenging. And financial missteps are mismanagement are some of the biggest hurdles that small enterprises face. According to the Bureau of Labor Statistics, one in five small businesses don’t make it past the first year, and only about one-third are still around at year ten.  Adhering to strict accounting best practices is one way to ensure you’re on the right side of those statistics. Good financial management can help prevent the cash flow troubles that…

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10 Tips for Successful Small Business Longevity

By Uncategorized

Did you know that only about 25% of small businesses survive 15 years or longer? If you’re trying to figure out how to make a small business last, you have to follow the right tips. With thousands and thousands of small businesses created each year, you have to stand out. keep reading to learn tips for your small business longevity. 1. Solve a Problem One of the reasons a business stays in business is because it is needed. This means the business has solved a…

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5 Important Tax Tips for New Business Owners

By Tax Advice

In 2021, the federal government collected more than $4 trillion in tax revenue. Every year, it’s essential to find tax tips to save you money when filing business taxes. Don’t pay more than you must! As a new business owner, you should familiarize yourself with tax tips, including hiring a professional tax preparer, business classification, and deductions. Filing your taxes is not a daunting task. If you are a new business owner, here are 5 tax tips you should know about when…

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