Every business owner needs to know the basics of financial statements. Know this information if you are completing them yourself or if you are outsourcing to a bookkeeper. Statements are difficult to analyze but are critical to the health of your business. Keep reading for the basics of what financial statements are and […]
Financial Statement Basics For Small Business Owners Read More »
Tax season is typically a stressful time for many people. It’s important not to make any tax mistakes or miss out on extra cash through deductions. Most people complete their contracted jobs from the comfort of their own home. Because of this, many independent workers started their businesses or began working as freelancers
All Independent Workers Need to Know About 1099-Misc Forms Read More »
What is a Cash Flow Statement? A cash flow statement is the total amount of money, both physical or virtual, transferred in and out of your business. It is a combination of information from your profit & loss statement and balance sheet. Having cash flow steadily into your business keeps your employees paid
Beginner’s Guide to Preparing a Cash Flow Statement Read More »
Starting your own business is exciting, but you must also focus on your numbers. This includes budgeting, accounting, and bookkeeping. Do you want to run a successful business? You must consider the startup business expenses below in your budget. Estimating an accurate startup cost will help you meet your business goals. Before
Startup Business Expenses to Consider in Your Budget Read More »
COVID-19 has brought upon many scams involving unemployment and coronavirus relief funds. Americans have lost $36 billion in fraudulent unemployment payments from scammers. Small business owners—be aware of this recent unemployment scam going on! Fraudsters have been filing for unemployment with business owner’s names. Since they know that small business owners are
Fraud Alert: Avoid This Small Business Owner Unemployment Scam Read More »
Do you have a business idea that you want to make happen? Remember that a business comes with many working parts. After coming up with your initial idea, find a mentor, conduct research, raise funds, and create a plan of action. Follow these tips when creating your startup company. Find a Mentor
4 Tips for a Profitable Startup Read More »
Business owners learn throughout the years from failures and experiences. Here are 5 mistakes that many small business owners make. Avoid these mistakes so you can grow your business successfully. Not Having a Business Plan in Place A business plan sets the parameters for everything related to your business. It gives you structure
Big Mistakes That Have Cost Small Businesses Money Read More »
January is almost here, which means it is time to focus on your business’s year-end payroll processing. Processing payroll is complex and detail-oriented. It requires tax calculations and compensation totals for each one of your employees. This can be a dreadful time for many business owners, so we are sharing some of our
Year-End Payroll Processing Tips Read More »
Your productivity as a small business owner directly impacts your profitability. The holidays are among us and now is the time to increase your annual sales. Make sure you have a return on your investment this holiday season. Hit your yearly growth marks by following these profitability tips. Set Holiday Goals Goals
4 Family-Owned Business Tips for Profitable Holidays Read More »
The Paycheck Protection Program (PPP) was created as a result of the COVID-19 pandemic. It is a part of the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act). Many business owners are wondering if they should apply for the PPP loan forgiveness or defer in 2020. PL Consulting has helped many employers apply
Should I Apply For the PPP Loan Forgiveness Right Now in 2020 or Defer? Read More »