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Lower your tax bill by hiring family members

Lower your tax bill by hiring family members

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If you’re a small business owner, there are some tax advantages you might be unaware of that can lower the overall tax bill for your family, if you decide to employ family members in the business. It’s commonplace for multiple family members to work in a small...
Beware! Profit does not equal cash flow

Beware! Profit does not equal cash flow

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Small businesses are especially susceptible to fluctuations in cash flow, so owners andmanagers need to continually monitor their company’s cash balance. As we’ve outlinedpreviously, the cash balance report is a great way to that. Beyond the cash balance report,...
Look at your cash balance report daily

Look at your cash balance report daily

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Cash is king, and that is especially true for small businesses. As an owner or manager, you mustkeep an eagle eye on cash balances to ensure the financial stability of your company. You don’twant to be caught in a situation where it’s Monday, cash reserves are low,...
Creating a budget using financial reports

Creating a budget using financial reports

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In our last article, we highlighted three ways to analyze financial reports. As we discussed,documents including the income statement and key performance indicators (KPIs) such ascurrent ratio and quick ratio can give you valuable insight into what’s going on in...
3 ways you should be analyzing financial reports

3 ways you should be analyzing financial reports

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Small business owners must pay close attention to financial reports, because they give essential insights into the financial health and performance of the business. Correctly analyzing the balance sheet, income statement, and cash flow statement will yield invaluable...