A sole proprietorship is undeniably the easiest, lowest-costing entity to form and manage. That said it's not the best option for all businesses, in some cases an S Corp or LLC might make more sense. Here are some of the advantages of a sole proprietorship: Simplicity - This is by far the least
Techniques to Ensure Your Small Business Succeeds
It's no surprise that the worst thing you can do in life is compare yourself to others. It makes you think you're missing out or makes you think you're not doing enough, creating self-doubt and lowering your self-confidence... However, in the small business world, comparisons should be what drive
Managing Your Small Business Finances
It should go without saying that you should have a separate credit card and/or checking account for your small business. That way, you can track all company-based expenses so you don't need to sort through countless other bank statements. While that should go without saying, here are several more
When a Client Refuses to Pay
For a small business owner or independent contractor, your business depends on your reputation and the client's ability to pay you, but if the client refuses to pay you, it often can leave you frustrated and feeling helpless, which is a common problem many business owners face. If this is a
Is Your Hobby Becoming A Business?
Most people don't struggle with filing a tax return. Even small business owners typically recognize what income they need to report, making the process fairly straightforward. Others, however, don't simply have a job or a business, but a hobby that brings in money for them. The question then arises,
Creating a Budget for Your Small Business
One of the most crucial things every new business owner must do is to create a company budget. You want a budget that's flexible enough to handle future expenses, but also manage your existing revenue, and cash needs. A budget is also a critical tool of your startup business plan. One of the key
Small Business Tax Deductions For 2019
Owning and caring for a small business can be as tough as it is expensive -- especially if you pay more in taxes than you actually owe. Garrett Gunderson, a finance expert performed a small study on small business tax and found that a large number of business owners pay more in taxes than they
Why Does My Startup Need an Accountant?
Depending on where you grew up, you may've heard the phrase, "pull yourself up by the bootstraps." In the startup world, bootstrapping is the common practice that entrepreneurs dedicate themselves to -- sometimes to a fault. They do as much as they can with to avoid as much cost as possible. While