Accounting/Banking/Credit

Accounting/Banking/Credit (92)

Top IRS Tips to Know about the Home Office Deduction

home officeTaxpayers who use their home for business may be able to deduct expenses for the business use of it. Qualified persons can claim the deduction whether they rent or own their home. Use the simplified method or the regular method to claim a deduction. Read more...

How to Hire the Right Virtual Bookkeeper

BookkeeperThe concept of virtual teams is gaining traction worldwide, driven by the confluence of several trends, including greater availability of work-anywhere tools like video telepresence and collaboration platforms, employees’ desire for more control over their own lives and schedules, and employers’ need to cut costs. When handled successfully, virtual teams can be a boon to employees and employers alike. Read more...

Funding your small business venture

fundingTime was when a small business sought an infusion of cash, they would apply for it from a bank. And, incredibly, the financial institution would usually agree to lend the money. However, it’s no secret that since the 2008 recession, small business lending is not business as usual any longer. Read more...

Does your business need cash fast?

girlimage22Contrary to the popular pop tune about how fun it is to stay at the YMCA, if your small business needs an infusion of quick cash, an option you might try to steer clear of is an MCA. Read more...

Business growth creating AP challenges? You’re not alone – but there’s a way to make it easier

business growthA new study sponsored by Concur shows almost half of small and midsized businesses (SMBs) are living with accounts payable (AP) mistakes even though they know there’s a way to avoid them. This statistic reminds me of stories we hear from our customers before they adopt automated AP solutions. For example, ThreeBridge’s Director of Finance Blake Kloeckner, a customer of ours, told us the company had a paper-based AP system that “was very cumbersome…and because it was so manual, it often led to a lot of mistakes.” Read more...

Lending an ear to lending circles might help small business owners

the circleThe original concept behind lending circles, a situation whereby people pool their resources and then share that pot with a needy member, is similar to the socialistic approach of an Israeli kibbutz. According to Wikipedia, a kibbutz is a collective community comprised of members who provide a service to other members of the collective for the greater good of the group. Read more...

How to build good credit to nurture small business growth

build creditFor small business owners, a solid business credit score is vital to securing the loans needed to expand. Yet, as a recent Manta survey revealed, the significant majority of small business owners don’t know their company’s credit score. In a business climate where having a bad credit score can actively impede growth, it’s imperative for small business owners to know the basics of business credit—and how to build it. Read more...

Lending Rates to Increase

If the Federal Reserve approves a rate hike, and experts believe they will, it will mean good things for small business, reports Forbes. While it does mean the cost of a loan will go up, it also means that banks make more money on the loan, which encourages them to lend more. Read more...

Crowd Funding is Now Available for Small Business

According to NPR, small businesses now have access to crowdfunding options. New regulations are in place to allow small businesses to raise up to $1 million dollars from crowdfunding. Read more...

Profit and Loss statements reveal more than the bottom line

profitAdam Knolls, a CPA and Realtor in Columbus, calls it a “script for disaster” when a small business owner looks only at cash values relating to their company rather than reviewing an entire Profit and Loss statement. Doing so “does not give an accurate picture” of the financial status of a company, he warns. Read more...

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