S-Corporations provide several tax advantages to small businesses. But did you know there are a couple other reasons you should consider becoming an S-Corp? Let’s start with everyone’s favorite… Read more
I have read posts by really smart people that are pretty negative on budgets. Why? Usually for two reasons: 1) Businesses spend too much time developing their budgets and analyzing variances between actual results and the budget, time that would be better spent on actions that will help the business going forward, and 2) Budgets are quickly Read more
Many entrepreneurs and small businesses are not aware of the tax implications of gifts given to employees, customers and business associates or awards given to employees. There are some specific limits and rules around gifts and awards that you should understand. First, you can deduct gifts to customers, clients and business associates, but you are limited to $25 Read more
Business plans are documents that tell you and others how you are going to run your business. A plan contains the decisions you have made and why you have made them. It is a comprehensive document that addresses all critical aspects of your business. Read more
A restaurant menu is good analogy for what you need to have for your new business. You need to write down a list of what items and services your business will offer. For a new business, your business menu needs to be limited to only the items you are very familiar with and great at providing. Being an entrepreneur, you are naturally Read more
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