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recent posts

Audit

Avoid an Audit for Your Small Business: Write-Offs That Raise Red Flags

Who wants to be audited by the Internal Revenue Service? No one. It’s a tedious and stressful process that we’d all rather avoid. So what’s the secret? Well, there’s no foolproof way to avoid a tax audit, but you can reduce your risks by being selective about which business expenses you write off on your […]

Finances

Feeling Discouraged About Business Finances? Here’s What to Do

Let’s have a little heart-to-heart for a minute. How are you feeling about the financial side of your business? Maybe things are going great — you’re exceeding your profit goals, staying on track with your expenses, and feeling excited about your bank statement numbers.  But what if that’s not where you are right now? What […]

Planning

5 Financial Considerations to Think About Before Hiring a New Employee

I know exactly where you are, my friend. You’ve worked hard to grow your business. Things are clicking along, and it’s time to hire a new team member to help you keep up with all the work clients keep throwing your way. What’s the next step? Well, first off, take a minute to congratulate yourself! […]

Bookkeeping Tips

Dubsado for Small Business Bookkeeping: Which Reports to Use

Do you use Dubsado in your business? It’s one of the tools I recommend most for small business owners! Even though it’s technically a customer relationship management (CRM) tool, Dubsado actually has lots of features that make bookkeeping easier. My team and I use Dubsado all the time, and many of our clients do as […]

Finances

Are You Paying Yourself Enough? Knowing When to Raise Your Salary

We’re hearing a lot about fair wages nowadays, but this issue isn’t just about Amazon and other big corporations. It affects small business owners too — and maybe not in the way you think. In fact, many of us small business owners do a great job paying our employees and contractors fairly because we want […]

Budgeting

Time to Cut Business Costs? Here’s What to Do

Running a business costs money — it’s just a fact. But all the money you spend on your business affects your profit. Remember, Profit = Revenue – Expenses. If you can trim those costs, you can keep more of your hard-earned income.  But how do you know which expenses you can cut safely? You don’t […]

Finances

Bookkeeper vs. Accountant: What’s the Difference?

How is a bookkeeper different from an accountant? Which one should you hire to help with your business? Or do you need both? I’ve touched on the differences between bookkeepers and CPAs before, but now it’s time for a deep dive into what each professional can do for your business. A bookkeeper and an accountant […]

Planning

Is It Time to Discontinue Your Product or Service?

Is your offer — whether it’s a digital product, 1:1 service, or group program — not performing like you wanted it to? Are you wondering if it’s time to discontinue your product or service?  It’s a sticky situation. I’ve been there, and most of the business owners I know have too. You pour so much […]

Accounting Tips

The First Thing to Do When Starting a Business

All right, business owners. Let’s get into it — how are your finances looking? I’m not talking about your revenue, expenses, or profits (find that discussion here) — I’m talking about your literal financial setup. That means your bank accounts! And the million-dollar question is … do you have separate bank accounts for your business […]