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There's no one set formula for determining a business's value. Speaking with a professional business appraiser or investment banker is the best way to get an accurate valuation. A calculated valuation doesn't mean much unless an investor or buyer agrees with your assessment. You should perform at least a basic valuation calculation on an annual …
Continue reading Small Business Valuation: How to Determine Your Business's Worth
No one plans to lose their job. However, when a small business owner closes their doors because of retirement, relocation or poor sales, employees quickly become former employees. Unemployment insurance gives your employees some financial security while they look for a new job. There is a lot of confusion surrounding unemployment insurance, such as who …
Continue reading A Small Business Guide to Unemployment Insurance
You’re humming along in your business, and suddenly — out of the blue — the unexpected happens. It could be in the form of a natural disaster that destroys your physical office or warehouse location, such as forest fires in California or hurricanes in the southern United States. In such an instance, you could lose …
Continue reading How to create a contingency plan for your small business in 5 steps
The most underused write-offs and tax deduction strategies entrepreneurs should consider. The following excerpt is fromMark J. Kohler’s book The Tax and Legal Playbook. Buy it now from Amazon | Barnes & Noble | IndieBound | Entrepreneur Books When I review a client’s tax return, I always try to grab the low-hanging fruit first- -- …
Continue reading The Most Forgotten Tax Deductions Business Owners Should Take
Dealing with taxes is a fact of life for small business owners. Annual expenditures for taxes for most owners are likely their largest outlay each year, exceeding rent or mortgage payments, marketing costs, and vehicle expenses (the only possible larger expenditure is payroll). Beyond payments to the government for all of the taxes you pay—income …
Continue reading 11 Things You May Not Know about Small Business Taxes
For most small businesses, growth is a primary objective. And while achieving growth is wonderful, it often presents issues for companies that are unprepared to scale up. When these issues aren’t dealt with swiftly and effectively, the business will eventually crumble due to scaling mistakes. Managing the Chaos of GrowthGrowth is a topic entrepreneurs love …
Continue reading The 7 Biggest Mistakes You Can Make While Trying to Expand Your Small Business
Among your responsibilities as an employer is the requirement to collect, report, and pay payroll taxes as required by federal and state laws. If you are a corporate officer or other "responsible party," as defined by the IRS, you may be personally liable for payroll taxes not reported or deposited as required. If your business …
Continue reading What Are the Penalties for Unpaid Payroll Taxes?
What Is Bookkeeping? Bookkeeping is vital for all small and big sizes of businesses. For small businesses, the procedure of bookkeeping that is more and more significant. Without the correct knowledge of bookkeeping, a small business that can be quickly unsuccessful. However, the business can become even more fruitful if the whole things are going …
Continue reading Why We Need an Effective Bookkeeping Service for Business of All Sizes?
1. Carefully set up your payroll system and update it regularly Take the time to input correct employee information, tax withholding amounts and payment information. By doing this, you'll avoid paying the wrong amount to employees and stay away from errors in the long run. 2. Pay your employees on timeIf you want to keep …
A business entity exists under its documentation. Without the proper records, registration, licenses and other legal documents, a company is just an idea in the owner’s head. Having hard copy business documents registered in the right places make the business a real entity. And losing those documents, or access to them if they are saved …
Continue reading Attention: 13 Small Business Documents You Must Keep on Hard Copy
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