As a small business owner, preparing for retirement (your own personal exit strategy) can never start soon enough. The link below is a great review of factors to consider when planning your retirement.
How can the small business owner avoid this trap? The best plan is to develop a process to ensure expenses paid with cash are not forgotten. Steps that could be included are:
The expense of an expense management service may seem to be a roadblock to some small business owners. However, by using an expense management service, the following benefits will be had:
To learn more about simplifying your process for managing cash and other expenditures using expense management services, please contact us now for more information. Also, check out the videos on the Resources page!
One of the scariest events for small business owners is receiving notice of an IRS audit. Even though we work hard to keep our business records up-to-date and accurate, the concept of an audit creates fear. Questions jump into our mind:
While there is no perfect method for avoiding an audit, by taking the following steps, we can limit the possibility. Worse case, we can make an audit as pain-free as possible.
An IRS audit can be a time-consuming and frustrating process if books and records are not in order. If you need assistance with cleaning or catching up your books and/or to set up processes to avoid future bookkeeping issues, please contact us now for a free consultation.
I can’t believe it is already October! We have finished the third quarter of the year and are rounding the bend toward year-end and (I know, don’t say it) tax season. This is the best time of the year, though, to start thinking about prepping for tax season. A few year-end housekeeping tasks worked through now can save time and stress later. For small businesses, what are a few tasks you could handle now?
If you need assistance with any of the above, please contact us now. We take the stress out of financial management and would be happy to help.
Successfully meeting the challenges inherent to new and smaller businesses provides me with a special type of satisfaction.