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Business Advice

Get a Grip on Your Cash Flow During the Slow Season

Get a Grip on Your Cash Flow During the Slow Season

By Business Advice

With a brand new year upon us, getting your company in shape for success begins with cash flow. For any business offering seasonal services, such as construction, home remodeling, or landscaping, work slows down during the cold months. This makes cash flow planning especially important. If you don’t have a positive cash flow, you will have difficulty financing your operations, paying your vendors, or meeting your payroll when business starts to slow down.  The Importance of a Cash Flow Statement…

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What Is the Best Retirement Plan for Your Small Business?

What Is the Best Retirement Plan for Your Small Business?

By Business Advice

As the owner of a small business, you are solely responsible for preparing for your own retirement. And, if you have employees, you would probably like to assist them in planning for their retirements. Of course, you may think that you’ll just sell your business and retire on the proceeds. However, a better way to go is to set up retirement accounts for yourself and your employees. Here are some options. SIMPLE (Savings Incentive Match Plan for Employees) IRA. Under this plan,…

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6 Strategies to Increase 2020 Business Profits

6 Strategies to Increase 2020 Business Profits

By Business Advice

Is your business growing, and you want to bring it up to the next level? Or perhaps you seem to be stuck on a financial plateau and are wondering how to climb out of it? Here are six ways that will help increase your business profits in 2020. 1. Invest In Sales Training Increased sales mean increased revenue, so think about revving up your sales team. Consider enrolling your salespeople in a training course and holding frequent follow-up sessions. Aspects of…

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The Importance of Meeting Tax Deadlines for Your Small Business

The Importance of Meeting Tax Deadlines for Your Small Business

By Business Advice, Tax Advice

If you own or manage a small business, it’s important to meet your tax deadlines to avoid costly fees and penalties. Which taxes you are required to pay depends on your business structure and other factors. Here are five types of business taxes to be aware of: 1. Income Tax If your business is not a partnership, income taxes (federal and state) need to be filed by April 15. In a partnership, profits and losses are passed through to the partners who…

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