Organizing Business Records

Posted on 31. Mar, 2021 by in Misc. Articles, Small Business Tips

Here are some suggestions to help you master the art of documenting and organizing your business. now and in the future. Document policies and procedures. Write down daily responsibilities, and skills needed to complete tasks related to these responsibilities. Write down the location of all paper and electronic files. Appoint and cross-train backup staff to ensure […]

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2021 Retirement Plan Limits

Posted on 01. Feb, 2021 by in IRS, Retirement Accounts, Small Business Tips

As part of your 2021 tax planning, now is the time to review funding your retirement accounts. By establishing your contribution goals at the beginning of each year, the financial impact of saving for your future should be more manageable. Here are annual contribution limits for 2021: Take action If you have not already done […]

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How to Walk the Tightrope When Raising Prices

Posted on 01. Dec, 2020 by in Cashflow, Pricing, Revenue, Small Business Tips

Raising prices can be fraught with risk during good economic times. So what happens if you try to raise prices during bad economic times? As Hamlet would say, “Ah, there’s the rub.” If you raise prices, you risk losing clients to competitors. If you don’t, decreasing revenue or rising costs can capsize your company. So […]

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IRS Announces Common Tax Scams

Posted on 16. Sep, 2020 by in Identity Theft, IRS, Small Business Tips, Tax Tips

The IRS recently announced its 2020 edition of its annual Dirty Dozen list of tax scams. This year includes a special emphasis on aggressive and evolving schemes related to COVID-19 tax relief, including Economic Impact Payments. Here are six of the more common scams. Phishing. Phishing refers to potential fake emails or websites looking to steal your personal […]

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Should You Incorporate Your Business?

Posted on 09. Sep, 2020 by in IRS, Small Business Tips, Tax Tips

You may have started your business as a simple sole proprietorship that files its taxes as a Schedule C on your Form 1040. As your business grows, you may want to change the structure. Here are several scenarios where it may make sense to do just that. Reasons to Create Business Entities Establishing limited liability. The […]

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How to Eliminate a Tax Surprise

Posted on 01. Sep, 2020 by in IRS, Small Business Tips, Tax Tips

What is normally a reliable estimate of your taxes – the amount of money withheld from your paychecks by your employer – may be an unreliable estimate this year thanks to the current pandemic. Even worse, using the safety net of paying in what you did last year may not be practical if your financial […]

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When is Bookkeeping Help Needed?

Posted on 20. Aug, 2020 by in Bookkeeping Articles, Small Business Tips

Do you find yourself wishing you had some bookkeeping help for your business?  The job requirements of bookkeepers are enormous and it really takes a lot of knowledge, training and experience to do the job correctly.   You should not assign these responsibilities to just any employee because you cannot afford any errors.  Mistakes could mean huge losses for your business. So, when the load has become too much, you should start seeking bookkeeping help.  Bookkeepers […]

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Ideas to Help Local Businesses

Posted on 26. Jun, 2020 by in Gratitude, Misc. Articles, Small Business Tips

Shuttered businesses are realizing that lifting lockdown restrictions doesn’t mean a return to business as usual. Social distancing guidelines and a public wary of venturing into crowded environments means light customer traffic for many businesses. Here are several ideas to help local businesses financially as they re-open their doors: Continue buying gift cards. For many small […]

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Are You Prepared?

Posted on 02. Jun, 2020 by in Disaster Plan, Small Business Tips

As small business owners with many of us working from our homes, we do not think about what a disaster can do to our businesses. But over the last couple of months, living through a pandemic, we realize we do need to prepare. With us entering Hurricane season, even those not located in the path of […]

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Protect Your Video Conference Meetings

Posted on 26. May, 2020 by in Security, Small Business Tips, Video Conferencing

Hackers have found their new playground amid the increased use of video conferencing during the coronavirus pandemic: Zoombombing, Here’s how to prevent these uninvited guests from making an unwanted appearance. Zoombombing defined Named for the company Zoom, the unfortunate first high-profile victim of this phenomena, zoombombing occurs when internet trolls hack video conference meetings and […]

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