Business Tips

Many small businesses open business credit cards to help meet their capital needs. Roughly 67% of business owners have business credit cards, but less than half of them use them as their primary spending source.

Don’t Mix the Personal and the Business; Keeping Finances Separate

Does your company have problems getting paid on time? Certain industries are more vulnerable to this than others, but every business owner has experienced it at least once. There are effective strategies for always getting paid on time that really work.

Small business owners quickly learn the importance of monitoring their cash flow. The flow of money in and out of your business can impact everything from the stock you have to sell to keeping the lights on. In a perfect world, your cash flows would align.

When most of us think about running our business, we think about the fun things like product development, marketing and customer outreach.  For most business owners, the idea of accounting is, to say the least, not exciting.  We know we need it, and moreover, we love to do everything ourselves.

With the passing of the Tax Cuts and Jobs Act (TCJA), tax professionals and businesses are beginning to absorb the massive changes and find some key twists in the new tax reform laws. The following information on these twists will help you navigate the new terrain.

Don’t Be GILTI

The new lease accounting standards will require some extra time and work for many companies as they race to satisfy the new requirements.

In these new rules, two leases (finance and operating) will be required on the balance sheets.