Finding the best candidate to hire is often costly and time consuming. But, if your new hire turns into a loyal, hardworking, long-term employee, your investment may be worth every cent and minute. Locate Candidates How do you find good people? In the past, people who were job hunting would look in the “help wanted” […]
The Good and Bad of Charging Late Fees
Do you struggle with getting your customers to pay their bills on time? Charging late fees might be helpful, but there are pros and cons to this approach. On the plus side, late fees: > May serve as an incentive for customers to pay bills by their due dates > Are a source of additional […]
Reviewing Last Year’s Business Records Gives You an Idea of What Worked and What Didn’t
Busy is good. Most small business owners would rather things were too hectic than too slow. As the year winds down, though, let your staff handle the busy-ness while you look at the business — where you are, what you’ve accomplished in past year and where you’re headed in the new year and beyond. Your bottom line […]
Why You Must File and Pay Your Employee’s Withholdings on Time
There is zero wiggle room when it comes to handling the federal income taxes and FICA taxes withheld from employees’ paychecks. The taxes are government property, which employers hold “in trust” and then remit to the IRS on a set schedule. Employers are not permitted to use this “trust fund” money for other purposes. Serious […]
The Tax Benefits of Net Operating Losses
For many businesses, profits vary from year to year. However, with proper planning, even a bad year can be helpful from a tax perspective. Where business deductions exceed gross income, a taxpayer may have a net operating loss (NOL) that can be used to offset income in another tax year, potentially generating a refund of […]
Getting a Handle on Payment Issues
Most small business owners love what they do. But that’s not to say things can’t get a little difficult, especially when customers don’t pay their bills on time. Even one or two slow-pay or no-pay customers can be enough to throw your company’s finances off. Understanding what might be going on with your customers and […]