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Budget or Forecast: Which Method – or Combo – Most Benefits Your Business?

When it comes to setting financial goals for your business, there are two main methods to consider: budgeting or forecasting.  Most businesses use one or the other, but understanding how each one works, and how to leverage the information provided from each, is critical to better defining your objectives to achieve your goals and adapt to real-time market conditions. Given the changes in the business environment today, it may even…

Do You Have a Nanny or Household Employee? Make Sure You’re Up-to-Date on Tax Requirements

The COVID-19 pandemic caused many families to rethink their child care situations. Nannies became a popular choice for many, as they decreased the risk of sending children to child care centers and provided the benefit of helping those same children through online schooling while their parents worked. As the pandemic has ebbed and flowed, nannies have remained a popular option. Many families, however, were unprepared with how to transition to…

Managing Your Business in an Economic Crisis

Tips for now and the future Economic downturns are an inevitable reality every business owner will face at some point in their lives. During challenging times, business owners have difficult decisions to make about the future of their business that affect them, their employees, vendors, clients, and communities. It is an enormous responsibility to bear, but you can take steps to prepare for these seasons of life. Optimize your books…

President Trump Signs Second Coronavirus Relief Bill, Includes New Funding and Updates to PPP

The U.S. House of Representatives and U.S. Senate passed, and the President has signed, the Coronavirus Response & Relief Supplemental Appropriations Act. The agreement comes after weeks of negotiations and two funding extensions to keep Congress open until a bill was passed with a $1.4 trillion government-wide funding plan. The $900 billion coronavirus relief portion includes another round of Paycheck Protection Program (PPP) funding, extended unemployment benefits, and direct payments…
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Hiring vs Outsourcing Your Accounting

Entrepreneurs and small business owners often wear many hats, especially when first starting a business. As the leader of a business, you have to be the brains and brawn of the entire operation, including human resources, customer service, inventory, production, quality control, sales and accounting. It’s a lot to juggle, and as your business grows, you will start to outsource to professionals or hire for many of these positions so…
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