Photo By Katamaheen Nobody wants a surprise letter from the IRS. And when it comes to your business income, there are a few red flags that could draw attention even if you’re not doing anything wrong. Here are some of the most common income-related red flags we see and how to avoid them: You forgot to include side or payment app income. Platforms like Stripe, PayPal, Venmo, and Square report… Read more
Photo By Peggy Marco Running a small business in today’s digital world means juggling multiple systems, platforms, and processes. But what if you could streamline everything—from accounting and payroll to sales and customer management—into one cohesive, cloud-based ecosystem? That’s exactly what Xero accounting and its powerful integrations offer. The Power of Xero and Its Tech Stack Xero is more than just accounting software. It’s the financial nerve center of a… Read more
Generated with AI· May 22, 2025 at 6:53 PM In today’s fast-paced digital world, businesses need agile, secure, and efficient tools to manage their finances. That’s where cloud accounting comes in—a modern solution that transforms how companies handle their financial operations. What is Cloud Accounting? Cloud accounting enables businesses to manage their finances online with ease and security. It offers a suite of tools for essential tasks like quoting, invoicing, and reporting—all accessible… Read more
In the hustle and bustle of managing a small business, it’s easy to overlook one of the most powerful tools at your disposal—active listening. While it might sound simple, mastering the art of active listening can transform your workplace, enhance relationships, and significantly impact your business’s success. What is active listening? Active listening goes beyond merely hearing words; it involves fully understanding, interpreting, and responding to the conversation. Heather R.… Read more
Photo By Bjorn Pierre Managing cash flow is crucial for small business owners. Even if your business is profitable, poor cash flow management can create significant challenges. In this guide, we’ll share practical tips to help you avoid a cash flow crisis and ensure your business remains financially healthy. Understanding cash flow Cash flow refers to the money moving in and out of your business. Cash inflows come from sales,… Read more
For many business owners, the day-to-day demands of running a business can make long-term planning seem like a distant concern. But, failing to plan for succession can put your business—and its legacy—at significant risk. The question you need to ask yourself is: Is hope your exit plan, or do you have a strategy? The reality of succession planning Succession planning involves identifying and developing new leaders who can replace old… Read more
Photo By 200degrees When you run your small business, you have a lot on your plate. That makes it tempting to let some tasks slide, especially tasks that are related to finances, which can be challenging and often outside your preferred skill set or experience. Here are some financial best practices for managing your business, so you can have the best chances of success. Pay yourself As a small… Read more
Selecting the right accounting software is a crucial decision for your small business’s financial health and accuracy. With numerous options available, this process can seem daunting, but making an informed choice is essential to streamline operations and mitigate risks such as financial fraud and regulatory non-compliance. Introduction The challenge of choosing appropriate accounting software stems from the need to balance functionality, ease of use, and cost-effectiveness. As cloud computing continues… Read more
April 15 2021 Is Not Like Other Years Today is usually the day for people to have filed their individual tax returns without extensions. It is also the due date for California Corp and LLC min tax of $800. And the due date for the Q1 tax estimates if you have those to pay too. But – we are still addressing the issues with Covid related changes, and so the… Read more
Some big questions answered. A little bit. Ok – Congress finally passed a bill to deal with the pandemic relief, stimulus and extenders. And, I hear, it is the 2nd largest bill (by page count) ever to be considered by Congress. So – this post is not nearly as detailed and won’t have all your answers. But – I want to get some info out that has been keeping me,… Read more
The National Spotlights Shines on Small Businesses The Saturday after Thanksgiving, November 28, 2020, the national spotlight will turn on an often overlooked engine of our country’s economic growth: small businesses. Small businesses, or those with less than 500 employees, now comprise 99% of all U.S. employer firms. Over 23 million strong, small businesses is a sector of our economy that continues to grow rapidly. According to the Small Business… Read more
We’ve said it before and we’ll say it again – this has been an extremely difficult few months (well, year) for all of us, but there is no better time to think seriously about your business. In this article, we have compiled a few tips to create value in your business. The key to building value in your business is to plan the process in a systematic way, whether you’re… Read more
When customers make a buying decision, they’re not just considering the quality and price of your products or services, they are also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: ● Credit and… Read more
I’ll figure it out when I’m ready to retire, which is the day after never …. That is the response we get from small business owners when we ask how much their business is worth. The wealth of nearly two-thirds (70%) of all small business owners is tied up in their business. For many of those individuals, the business becomes the personal retirement savings vehicle. Those individuals, however, could be… Read more
If you are like most small business owners, you find it difficult to plan because your future has more unknowns than your non-business-owning counterparts. You might not know how much your business is worth when you should sell, where to find the right buyer, how to fetch the best price, or even how much insurance to carry. If you have a family business or operate with a partner, you also… Read more
Two roads diverged in a wood, and I— I took the one less traveled by, And that has made all the difference. Robert Frost Starting your own business can be like having a baby — a very important life decision that might not always be a rational one. 9 months into your 9-5 insipid job and you might decide to take the proverbial exit from the freeway, onto the smaller… Read more