If you’re new to business, you’re probably also new to quarterly taxes. The Internal Revenue Service mandates this if you expect to owe $1,000 or more in taxes for the year. That may sound like just another thing to do in an entrepreneurial calendar that is already too crowded. But there are advantages to this…… Read More

The recent IRS expansion discussed in last week’s post is aimed at wealthy individuals and large corporations. However, that doesn’t mean they’ve become complacent toward small businesses. The IRS press releases are littered with stories of small businesses that, knowingly or unknowingly, ran afoul of the IRS and paid stiff penalties. This week, we’ll take…… Read More

When the Inflation Reduction Act injected $80 billion into the Internal Revenue Service budget, the reaction was predictable. Polarized entities in politics and the media waxed hyperbolic about all the good or bad things that were to come for the American taxpayer. Almost two years in, the story doesn’t sell soap anymore, and few are…… Read More

Every day, millions of self-employed workers all across America convince themselves they don’t need a tax strategy. That’s a shame because they lose the opportunity to keep more of their hard-earned income and solidify their solopreneur lifestyle. Today’s blog post will debunk some of the most common tax strategy myths solopreneurs tell themselves. Let’s go!…… Read More

As a small business owner, you’re probably bombarded with emails and ads about tools to help grow your business. Ironically, the Internal Revenue Service provides one of the best ways: taxes.   That’s right, you can use taxes to your business advantage. And why not?  As Ben Franklin said, taxes are one of the only two…… Read More

Growing businesses often find themselves in personnel limbo when hiring new financial leadership. They need help but can’t afford a full-time Chief Financial Officer.  Enter the fractional CFO, which is just a fancy name for a part-time CFO.  Fancy names aside, a fractional CFO can provide your growing business with interesting options to smooth the…… Read More

Last week’s blog post provided an overview of sales tax for small e-commerce businesses. It discussed economic nexus, and that’s a good start. However, sales tax for e-commerce deserves a deeper dive because mistakes can have serious economic consequences. That’s why this week’s post will go into more depth on common sales tax mistakes and…… Read More

  There’s no doubt e-commerce is the way to go for many budding entrepreneurs. From food to fashion, if you can ship it, then there’s an opportunity to expand your business to markets traditional storefronts only dream of.  But there’s also a lot to consider in terms of taxes, accounting, and regulations. So, before you…… Read More

June has been all about forecasting so you can meet your business goals. While forecasting can yield huge dividends, you probably noticed a thread of uncertainty in some of the assumptions. A sensitivity analysis is a way to overcome those issues. No, a sensitivity analysis isn’t about discovering your inner self or coming to grips…… Read More

Financial forecasting has been the focus of this blog all month, and this week, we will tackle what may be the trickiest forecast of all: revenue. Compared to expense projections, revenue forecasting can be challenging, especially for start-ups. But don’t worry. This post will clarify revenue forecasting, why you should do it, and how to…… Read More