As a business owner, it’s common to have expenses that overlap between business and personal use. The tricky part is figuring out what portion is deductible. Done correctly, this can save you money at tax time. Done incorrectly, it can raise red flags with the tax office. Here are some detailed examples to guide you: Home office costs If you use a dedicated space in your home for work, you can deduct a percentage of household expenses such as rent or mortgage interest, utilit

Your chart of accounts is the foundation of your bookkeeping. It organizes all your income, expenses, assets, and liabilities into categories. When it’s set up properly, you get clear financial reports that make decision-making easier. But when it’s messy, it can: Hide the true picture of your business finances Lead to miscategorized transactions and duplicate accounts Cause you to miss out on valuable tax deductions Waste time and energy trying to fix mistakes at year-end Ex

Bookkeeping isn’t always the most exciting part of running a business. But here’s the truth: ignoring it, or getting it wrong, can end up...

Every business owner should know their break-even point. It’s the number that tells you how much you need to sell before you start making...

Ready to take the leap from solopreneur to employer? Hiring your first employee is exciting but can feel overwhelming. Let's break down...

Tired of scrambling to pay bills at the last minute? Or worse, getting hit with late fees that eat into your profits? Let's fix that...

Business credit cards can be incredibly useful, but only if you choose the right one. A business credit card should support your...

Nobody wants a surprise letter from the IRS. And when it comes to your business income, there are a few red flags that could draw...

If your business has a busy season and a slower one, you know the financial highs and lows can feel intense. Whether you're preparing for...

If you've ever looked at your financial reports and found yourself wondering what EBITDA and net income really mean, you're not alone. ...

We’re here to talk about something many business owners avoid... pricing. If your profit margins feel too tight, your revenue isn’t...

Most business owners create a budget once, feel good about it, and then don’t look at it again until the following year. But if you’re...

Scaling a business is exciting, but growth without financial clarity can lead to cash flow problems, unnecessary debt, and unpredictable...

Fraud can happen in any business, no matter the size. It often starts small with an unapproved expense, a missing transaction, or a...

Your phone buzzes…you think, you only need a minute to check out that Facebook notification. Without even realizing it, you get sucked...

One day a business owner bought a Boba shop as well as retained the employees… He knew it was a great investment since it was in a prime...

As a small business owner, you want to focus on growing your business and bringing in new customers, right? If issues like social media,...

Have you ever wondered why some small businesses are successful and others aren’t? Is it based on luck? How hard you work? The current...

As we are about to enter the fourth quarter of the year, many of you may be considering ways to reward your clients and customers for the...

Many people are diving into the real estate market every day. Whether it be a desire to supplement a salary with additional income,...