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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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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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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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Payroll symbol. Calculator with the word payroll, white note, colored paper, paper clips, pen. Business and payroll concept. Beautiful white background, copy space.

Benefits of Outsourcing Your Payroll To Professionals

By Business Advice

Did you know that approximately 40% of mid-sized businesses in the US face penalties due to incorrect payroll filing? It’s an important job and one that has to be done correctly the first time.  Your payroll can be taken care of by an individual or an in-house team. Alternatively, you can hand the responsibility off to the experts and outsource payroll. External companies that handle all or some of your payroll functions save you time and money. They ensure your…

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Orcutt Financial Tax Planning With Year-End Tax Tips

It’s Not Too Late: Year-End Tax Tips to Make the Most of 2021

By Business Advice, Tax Advice

Year-end tax tips can help save you a lot of headache next tax season. If you struggle with tax filing, you’re not alone. Every year, as many as 33% of Americans file their taxes late. Some just forget, others struggle to get things together in time because they left it to the last minute, and others are scrambling to make sure they have everything they need to keep their bill low. It’s not too late to make sure you have…

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Orcutt Deducting Business Expenses

Deducting Business Expenses: Best and Worst Practices

By Business Advice, Tax Advice

What’s the goal of every business? To make a profit, of course! A business can generate more profit by increasing revenue, managing or reducing expenses, and optimizing tax deductions. These are our recommended best and worst practices for monitoring and deducting business expenses:  Understanding Business Expenses  Expenses are the costs that a company incurs in the process of generating revenue. Importantly, businesses can take properly recorded tax deductions on their income tax returns, provided that the deductions meet IRS guidelines. Deductions fall in three…

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Orcutt Financial Costs Of Starting A Business

Starting a Business: How Much Does It Really Cost?

By Business Advice, Tax Advice

It’s one of the most difficult undertakings to embark on alone. Especially when looking at the statistics, starting a business is a risky venture. This is especially true if you’re financially unprepared. One of the biggest challenges to more than 30% of small business owners is capital! Depending on the business, starting costs and the required capital will vary massively. Small business costs in particular can really take the wind out of your sails going forward. How Much Does Starting a Business…

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