Payroll Checklist: DO THESE SIX THINGS BEFORE HIRING AND PAYING EMPLOYEES
Welcome to the big leagues. You have employees and they want to get paid. They need to get paid, and you need to make sure you can pay them if you want them to continue working for you. While setting up hiring employees and setting up payroll sounds overwhelming, it doesn’t have to be. When paying employees, there are a few key things a business must do first. This article is here to be a resource or guide. Don’t get overwhelmed with payroll setup.
4 Big Reasons you need a Professional Accounting Service
Hiring an accountant? Consider these three things first.
Okay, let's be honest, making more money makes it A LOT easier to set yourself up financially. However, until you can make more, the other cheat code is being smart with the money you have. Whether you think you make a little or a lot, it's important to manage what’s coming in, where it's going. That way you can determine how you can use that to create more. This is why it's important to pay attention to accounting.
7 Essential Tips for Starting a Successful Business
When it comes to seeking guidance for starting a business, the number of resources and advice can be overwhelming. Starting a business can be hard. There's so much to consider. There are the technical and legal aspects, and then there are the soft skills like communication and discipline. To run a successful business a person, or group must possess a combination of both.
10 apps every small business owner should have.
The idea of downloading and managing more apps may sound like a laborious task, but the hardest part is typically the setup. Once used consistently, many apps can alleviate your task load. The truth of the matter is the best route is probably to expand your team or outsource certain tasks. However, until you get to the point where you’re able, there are tools you can use in the meantime. Check out our list of apps all business owners should use for a more successful business.
What can I do with an Excellent Credit Score?
If you learn about and manage your credit from the start, a good credit score is easily attainable and comes with perks. Before we jump into all of the things you can do when your credit scores are good, let's establish exactly what is good credit. There are lots of businesses out there promising credit repair. You see the people around you turning their scores around, and you wonder if it's worth the time and effort to try and fix yours. The short answer is, yes. Start by assessing where your current score is.
How To Ensure PPP Loan Forgiveness
Whew, the internet sure works fast. Last week a list of recipients of the Paycheck Protection Program Loans was released, and concerned citizens wasted no time to take a look and call out businesses and community organizations on their loan amounts. To those businesses that received large amounts, congrats and we hope it afforded you to pay employees and keep business moving. For the honest entrepreneurs making daily sacrifices to keep your business afloat, this is for you. This blog will tell you what you need to know to make sure your PPP loan is forgiven.
How to Price Your Services? – A Guide to Charging your Worth
Don’t let that small but important fact get beyond you. Beauty industry professionals are something like medical professionals in that they go to school and acquire the necessary training to provide a service. Like doctors, most states require beauticians to have a license to work in a shop and provide certain services. Not only that, but cosmetology school, training, and certifications can be quite costly. It’s always important to re-invest into yourself and your skillset. Because you re-invest in yourself, you should charge accordingly for your services. Keeping tough competition in mind, it's important to know how to price your services. In this blog, I will not only provide you with some things to consider as well as provide sound advice on how to price your services. Read On.
5 Ways Your Tax Preparer Can Help You Year-Round
Did you know that most tax-preparers offer more than just tax services? Yep, that guy that does your taxes also works in finance and can help your business year-round. Shameless plug aside, it's true. Tax filing season isn’t the only time you should be thinking about taxes, in fact, many tax-preparers double as accountants and can be helpful to you all year. Tax season has come to an end. Most are glad it's over, saying sayonara to their tax preparer, but it may be a good idea to keep them around. Many tax preparers work in crossover roles as an accountant, bookkeeper, or both. Having taxes prepared by a cousin who does the family’s taxes every year is great, but for business owners and high-income earners, it’s smart to work with someone year-round.
10 Ways to Boost Productivity at Work
Being more productive at work isn't rocket science, but it does require being more intentional about how you manage your time. This post will walk you through 10 simple but effective strategies for increasing your productivity at work.
Cash Businesses - How To Protect Your Dollars from the IRS
Businesses should make every effort to protect their money from the IRS. Business owners are required to track and account for every dollar earned and spent on necessary expenses. While having a cash business can be beneficial, there are some things to consider when filing taxes. For businesses, cash transactions can save a considerable amount of money. By only accepting cash, one can avoid having to pay per transaction, and avoid things like fraud. While operating in cash does guarantee quick and easy payments, cash-only businesses have a 55% probability of being audited by the IRS, while multi-payment businesses only have a 5% probability of being audited.
Tax Deductions For Beauty Professionals
There is a common saying that you have to spend money to make money, and while that is true, some of that money can be earned back if the items purchased are tax-deductible. There are certain expenses deemed ordinary and necessary for one to practice business by the IRS. Most deductible expenses fall under the category of things needed to conduct business. This article will list applicable write-offs for beauticians, barbers, nail technicians, tattoo artists, and other beauty professionals
The Six Keys To Profitability
What makes a business profitable? Is it advertising and marketing? Cutting costs? Beating out the competition? Or just plain old hard work? What if we told you seeing a profit in your business is actually easier than one might think. It just takes the right combination of skill and consistently using the right tools. Turning a profit can be narrowed down to six easy steps or categories that ensure to see a return on your initial investment.
Why Every Family Needs Financial Planning.
Every family should learn and practice good financial habits. Though it is not something many people learn in school, financial stability eases day-to-day struggles and can set your family up for future success. Financial health is almost as important as your actual health. Without it, it can be hard to take care of your family, do things you love, and let’s be honest, it’s stressful when your finances are not in order. Most American families are one emergency away from financial ruin.
Tax Saving 101: Keeping It In The Family – How hiring your children can save you thousands in taxes.
Now is a better time than ever to hire your children. We know, they’re lazy, they barely work, they have smart mouths, but hire them. We’ve all heard of keeping wealth in the family. By hiring your children to do actual work for your company, their income may be a deductible expense for your business. There are some limits and stipulations, but yes you can pay your children to work for you, tax-free!
LLC vs. Sole Proprietorship
When owning a business, it is important to take the necessary precautions to protect yourself as well as your assets. Registering your business and making it a recognized entity with the state is one of the easiest methods of protection.
It can be overwhelming to determine which entity is best for you. Though there are many types of entities, the best two for small and new businesses are LLC and Sole Proprietorship. Both are inexpensive and relatively easy to obtain. Read the guide below as you decide which entity is best for your business structure.
Why No One Should Start A Sole Proprietorship.
Forming a sole proprietorship for your business is probably not the best idea. Registering with the state is the first official step for many up and coming business owners. While some businesses file right away, others wait until they’ve seen a certain amount of return, warranting the action.
Knowing what type of entity to file can be confusing, but we can almost guarantee a sole proprietorship is never the answer. For most businesses, a sole proprietorship carries more disadvantages than perks. With that in mind, MATS is here to explain why it’s rarely a good idea to file as a sole proprietorship.
How did the Corona Virus Relief Bill effect 2020 tax year?
Moneybagg Joe cut the Check, read how it affects the 2020 tax season.
Why YOU Should Become an LLC
“We have all heard repeatedly about the importance of starting a business and using said business for tax benefits. However, whether you have a business or not, you can register yourself as an LLC and reap those same benefits.”
Small Business Bookkeeping Starting at $499.00/m
Bookkeeping and data entry services so you don’t have to. Save time and payroll dollars by outsourcing your bookkeeping needs.