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Business Advice

7 Ideas to Boost Your Benefits Package

By Business Advice, Tax Advice

Employees want to be paid a fair wage, and this something that every company should make a priority. But one of the most impactful ways that a company can set itself apart and let employees know they are valued is by investing time and resources into a robust benefits package.  According to a survey released by the Society of Human Resource Management (SHRM), 92% of employees state that benefits are tied to overall job satisfaction. More importantly, nearly a third of employees…

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How Do I Start the LLC Process?

By Business Advice

If you want to start a business, or secure additional protections for an existing one, forming a Limited Liability Company, or LLC, could be the ideal choice. LLCs are designed to be an inexpensive and simple setup and are easy to operate. Most people who are thinking about starting an LLC have a long list of questions. Here is what you need to know. The Benefits of an LLC One of the main benefits of an LLC is that it…

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Collecting A/R Increases the Bottom Line

By Business Advice

Few things are more frustrating for a small business than dealing with clients who won’t pay for the products or services you’ve provided. It’s tough enough to manage cash flow. But when money isn’t flowing in as you had planned, slow payers can jeopardize your business. If you invoice your customers, you also need a sound strategy for collecting A/R.  Understanding Small Business Debt Collection One of the services many businesses provide is delivering products or services and then billing…

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Help! I Need Business Credit FAST

By Business Advice

If you own a business, it might not be entirely necessary to build business credit, but there are several reasons why it’s a good idea. But this isn’t something you can accomplish overnight. Here is why you might want to start working on building business credit and some of the steps you can take to do it.  The Benefits of Having Good Business Credit When you don’t separate your business and personal finances, you could put your personal credit score…

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Budgets

Why your Business Needs a Budget and How to Get Started

By Business Advice

Whether you own a business or run a household, budget planning is integral to fiscal well-being. But, why is a budget so important? Targets your Priorities A budget isn’t a secret; it can offer a way of targeting, and then setting, priorities for your business. Typically, these priorities are related to cash-flow, and how you will spend the resources that you currently have. It also demonstrates to all the members of your team what to focus on; for example, if…

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outsourcing accounting

When You KNOW It’s Time to Outsource Accounting Functions

By Business Advice

When it comes to running your business, you may take the approach that handling as much as possible in-house is the way to save cash and “be lean.” But, many business owners find that it can be incredibly challenging to take on all of those additional duties, which might range from IT functions to filing taxes to payroll.  When it comes to handling your company’s full range of accounting services, you might be able to handle these internally for a…

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Preparing Your Business for the Effects of the Coronavirus – Emergency Business Planning

Preparing Your Business for the Effects of the Coronavirus – Emergency Business Planning

By Business Advice

With the rapid onslaught of the coronavirus already disrupting business operations in the U.S., there are three ways you can face the future: panic, do nothing, or plan. As we work with business owners through these tough times, we know the best way to do this is to plan, making the situation under your control as much as possible. By now you have probably read all the communication from your local, state and federal governments on how to prepare for…

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The CARES Act Opens Floodgates to Free Money for Businesses

The CARES Act Opens Floodgates to Free Money for Businesses

By Business Advice

The CARES Act has opened the floodgates to free money for busineses  Below are the basic details of loans available to businesses.  They are incredible unless regulations apply limits: This new law lets any business borrow 2.5 months of payroll, benefits, interest on loans and lease payments. The loan is made through a bank that is an SBA approved lender and is guaranteed by the SBA. Loan Is nonrecourse to the borrower. The loan is forgiven if you don’t cut…

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person at desk

Key Questions to Ask When Looking for the Right Accountant for Your Business

By Business Advice

As a small business owner, you may be tempted to do as much as possible on your own, but you’ll soon find that this isn’t sustainable. Further, you likely didn’t go into business to read legal documents, stare at numbers, or fix technical issues, so it makes sense to get some specialized support.  While you’re doing what you do best, insurance agents, attorneys, IT specialists, and accountants can work behind the scenes to ensure that your business remains a well-oiled…

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separating finances

Why You Should Separate Personal and Business Finances

By Business Advice

A lot goes into owning and operating a small business. It’s for those who dream, yes, but it’s not for the faint of heart. Among the many necessary business functions are the production of goods or services, marketing, sales, human resources, and accounting. Each of these has a connection to finances and there are two key truths about finances. First, you can’t be casual with finances. And second, personal and business finances, like oil and water, don’t mix well. To…

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