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Entrepreneur Tips

10 Best States for Starting a Small Business in 2021

This is the year. This is the year you’ll stop talking about starting a business and actually launch one. And to that we say, congratulations! You’ve made the first step towards turning your dream into a reality.   If you’re like most first-time entrepreneurs, you’re probably terrified right now. Terrified of failure. Terrified of losing all…

A Case for Keeping Your Small Business Small

As Americans, we tend to favor large sizes—whether that be houses, meals, or vehicles. But when it comes to running a business, there’s actually a pretty compelling case for keeping your operations small. Now don’t go thinking that a small business equates to small earnings. No, no, no. Get that association out of your head…

How to Cope with a Failed Business

To say that COVID-19 devastated the U.S. economy is an understatement. According to Yelp’s Local Economic Impact Report, nearly 100,000 American businesses that temporarily shut down due to the pandemic are now permanently shuttered. That’s a lot of broken dreams. That’s a lot of lost money. And that’s a lot of people who are desperately…

PPP Round 2: Everything You Need to Know

If you’re a small business owner struggling to stay afloat during the pandemic, hang tight because help is on the way. The U.S. Treasury and Small Business Administration (SBA) have reopened the Paycheck Protection Program (PPP), but with some notable differences this time.  Officials have introduced new terms and conditions that are designed to quell…

Calculating and Reporting Year-End Inventory

What Is Your “Year-End Inventory Value”? This is the total dollar value of all products in your warehouses as of the end of your fiscal year. We adjust your inventory account in QuickBooks to ensure the balance in your warehouse matches the balance in QuickBooks. Why Do We Do This? We do not have direct…

Filing 1099s- Who Gets One?

It’s the 1099 time of year again! But what does that mean and who should pay attention? Read on to find out! First off, it’s not the 1099 you’re used to this year! Of course with everything else going on in 2020, the IRS decided to throw one more curve ball and change the decades-old…

How Much Should You Be Spending On Payroll Processing?

Finally, an article written for the budget-conscious small business owner who wants a simple answer to the question, “How much do payroll services cost?” Sort of… We hate to break it to ya, but as is often the case, the answer is not so simple.  That’s because payroll processing fees depend on multiple factors that…

Tips to Make Small Business Bookkeeping Easier

Nobody enjoys bookkeeping any more than they enjoy doing laundry. Nevertheless, it has to be done. But what if we told you there’s an easier way? One that would significantly reduce the amount of time and effort you spend on this tedious task? Well you’re in luck, because in this article we offer accounting advice…