Keys to Keeping Great Business Records

Your bookkeeping system is the financial heart and lifeblood of your business. When set up and operating properly, your books help you make smart decisions and seamlessly turn your financial data into useful information. Here are four key characteristics to building and maintaining a healthy bookkeeping system: Select the proper accounting method. There are two different…

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Tips to Keep Your Customers Coming Back

Happy, satisfied customers are essential to the health of every business. Increasing competition, online review opportunities, and unlimited access to information up the ante on the importance of quality customer service. Here are some tips to help your business thrive by meeting and exceeding your customers’ expectations: Understand your customers and their needs. As best you…

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6 Ways to Cut Your Everyday Expenses

Many people dream of making more money, but cutting expenses can have the same effect.  Identify unnecessary expenses with these six money-saving ideas and help free up some cash: Eliminate late fees. Most late fees are the result of being too busy, traveling or simply forgetting. Fortunately, late fees are almost entirely avoidable if you have…

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Customer Retention Metrics You Need to Know

  Your business’s ability to retain customers is one of the most important components to sustained growth and profitability. Here are the three retention metrics useful for every business owner. Retention rate. Most customer retention is measured over a set period of time, typically one year. To determine your rate, take a look at the number…

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Understanding Tax Credits Versus Deductions

Tax credits are some of the most valuable tools around to help cut your tax bill. But figuring out how to use these credits on your tax return can get complicated very quickly. Here’s what you need to know. Understanding the difference To help illustrate the difference between a credit and a deduction, here is…

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Six Simple Ideas to Help Your Small Business

Here are six ideas to help your business grow and thrive this summer. Understand your cash flow. One of the biggest causes of business failure is lack of understanding cash flow. At the end of the day, you need enough cash to pay your vendors and your employees. If you run a seasonal business you understand…

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Hiring Your First Employee? Make It a Success!

  Are you ready to hire your first employee? Perhaps you started a new business, and are working solo or with a spouse or business partner. Now the business is growing and there’s just too much to do. You find yourself working long hours and still not keeping up. It may be time to make…

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Small Business: Coping with Shortages and Delays

As we entered the New Year, businesses continue to be hampered by a near-unprecedented lack of supplies and materials. Besides items that have received widespread national attention like toilet paper and computer chips for cars, the slowdown in the supply chain is affecting everything from electronic devices to couches to sneakers—and plenty in between. To…

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Make Payroll Taxes Easy in 2022

Handling employment taxes can be complicated, especially when you’re required to file important tax documents throughout the year. Here’s a quick recap of the most vital payroll tax forms and what you can do to make your payroll life easier heading into 2022.   Important Payroll Tax Forms Form 941 — Employer’s quarterly federal tax…

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JUST THE FACTS: Borrowed Money Must Be Paid Back

In the back of every Form 1040 instruction booklet there’s a section that shows where our federal government gets its money and where it is spent. As taxpayers, it makes sense to know this information. Here is the data for the government’s fiscal year ending September 30, 2019, as reported by the IRS in the…

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