Good cash flow is essential for a successful business; therefore monitoring and working to improve those cash flow metrics is crucial. The majority of small business owners struggle with cash flow and many fail because of it, but there are several cash flow metrics...
Are you happy with the profit your company is generating and its growth? Or, are you not exactly sure how to even find how much your profit grew year over year? Knowing your profit each year is a start, but if you’re serious about growing your business,...
You’ve received your financial statements for the year, and now you’re staring at a balance sheet, income statement and cash flow statement hoping to derive some answers from your financial reporting. But what does any of it even mean? How do you know if your business...
Ever wonder what you should be doing to reach your business goals? It sounds simple, but the first step is creating a year-round accounting system. This is the best way to leverage your numbers to produce results and grow your business. Let’s take a look at how you...
After legally forming a new business, the next thing you need to do is get an employer identification number (EIN). Think of this as the SSN for your business – it will be used to open bank accounts, show up on tax forms, and generally be the way the government keeps...
Which Expenses Are Deductible? If you’re a small business owner, you’ve likely asked yourself at one point “can I deduct this on my taxes?” Here’s a quick rundown on what you can – and can’t – claim as a business deduction. The Rules The IRS says you can only claim...
