This blog has covered many elements of a good profit plan in the past, but no post has covered the entire process.   That’s because a good profit plan takes time to explain, and this blog tries to keep things quick for you.  Today, we are going to walk the tightrope between information and time.  This… Read More

Consumers and business owners in the U.S. enjoyed nearly 0% interest rates and low inflation for over a decade before 2023. Alas, those days are gone, and many business owners find themselves having to raise prices in response to the current economic conditions. There’s a lot to think about when raising prices, especially the tax… Read More

The new year is approaching fast, and that means finalizing business plans for 2025. Since it’s the season for giving, we thought it would be a good idea to give you some tax tips to help you with the process.  Let’s go.  Tip #1: Maximize the Qualified Business Income (QBI) Deduction This first tip has… Read More

Payroll tax and sales tax management are a headache at best and, at worst, a way to trigger an audit. But is it worth bringing in outside help to deal with them? Today’s post will cover that question and give you the benefits and costs if you decide to bring in a tax professional. Let’s… Read More

Business tax deductions are arguably one of the most misunderstood parts of entrepreneurship. Many business owners are overconfident in their ability to understand this dynamic and complicated business area. Unfortunately, that overconfidence leads to costly mistakes. So, today’s goal is to help you identify ways to know if you need to take a deduction and,… Read More

It’s no secret that companies offering employee benefits have an advantage in recruiting and hiring top talent and also get some business tax advantages. The trick is determining the benefits that align with employee needs while providing tax breaks worth the additional expense. That’s what today’s post will focus on so you can get a… Read More

Let’s be brutally honest. The only thing more daunting than preparing for a business audit is getting your team on board to help. So how do you do it? The answer lies in looking at it through the eyes of your employees. Today’s post will take that foundation and show you ways to get your… Read More

Last week’s post offered some insight into ways to improve your business financial literacy, and we promised a few books that would help.  Reading is always a powerful tool, and this list can provide deep insights into business financial literacy from respected entrepreneurs.  It’s a little like getting advice from some of the best business…… Read More

CPAs are not alarmists by nature, but when they encounter financially illiterate business owners, let’s say it’s a major cause for concern.  It’s not that new business owners need a great deal of business financial literacy to get started. Starting at zero is okay.  It’s just not safe to stay there.  Today’s post will help…… Read More

Every year, stories come out about how some big corporations legally pay little or nofederal taxes. This might not be possible, or even desirable for small businesses, but that doesn’t mean you can’t minimize business taxes. Today’s post is going to do just that. We’ll look at four ways your business can keep more revenue…… Read More