For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. Many small businesses have organized as an S Corporation form of entity. In many cases,…
Five Numbers You Should Know About Your 2016 Performance
Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance. To start, grab your 2016 income statement, or better yet, give us…
Understanding Payment Terms
If there is a period of time between when your customers receive your goods or services and when they pay for them, then several things are true: You have a balance in Accounts Receivable on your balance sheet that represents…
Positive Pay
Positive Pay is a service offered by banks that is designed to reduce fraudulent check-cashing against your account. If you are writing checks on your bank account (as opposed to using ACH transactions), then the positive pay service, which usually…
Tax Time, Ready or Not
It’s always a huge relief to many people who get their taxes done early. That gray cloud of stress that nags at you to get it over with can be gone in a matter of weeks instead of months. April…
The New I-9 Form
The I-9 form is used for employment eligibility when hiring new employees. It is one of many forms that need to be completed when you onboard a new employee. Effective Tuesday, January 17, 2017, the new I-9 form, which is…
A Quick Primer on Crowdfunding
An interesting way to fund your dream project, whether you are a startup or a more established business, is to consider crowdfunding. Crowdfunding is when many people provide the money in small amounts for a project. Although crowdfunding is not…
5 Steps to Move Your Marketing into the 21st Century
If it’s been a while since you’ve adopted new marketing methods, it might be time, especially if you want to attract younger customers. Here are five ideas to do just that. 1. Video With YouTube as the second largest search…
Add a VIP Revenue Stream to Your Business
If you’re looking for more ways to bring in additional revenue, then a VIP revenue stream is one option for many businesses. Here are a couple of examples: A plastic surgeon has a long waiting line of patients. The surgeon…
5 Metrics to Gauge Your Business Performance
Sometimes, the most telling numbers in your business are not necessarily on the monthly reports. Although the foundation of your finances revolves around the balance sheet and income statement, there are a few numbers that, when known and tracked, can…