Articles

Keeping costs under control is crucial in today’s challenging business environment. Without a doubt, one of the quickest ways for a business to cut costs is through staff reduction. But cutting jobs is not always the best cost-cutting strategy. Drastic job cuts can...

As a small business owner, you have to be careful when buying on credit or taking out loans.  Too much debt means you may have trouble making payments on your principle or interest balances.  If you cannot make your payments on time, you may have to refinance at...

If you are a small business that is planning to grow, you have to be able to make solid decisions about how to expand your capacity.   And while there are many different aspects to consider, one of the major issues associated with the growth of successful businesses...

Just as you should have effective systems for receiving cash, you should also have the right systems for paying out cash.  In fact, your accounts payable system is just as important as any other aspect of your business.  Therefore, it should be aggressively managed...

Cash theft is a major issue that affects many small business owners.  If you’re not careful, you can miss out on significant profits – without even knowing!  That’s why it’s important to use the right processes to guard against the loopholes that make cash theft...

If you want to give your tax recordkeeping skills a performance boost, do what accounting professionals do. 1. Maintain a separate bank account for all self-employed business activity. This will greatly minimize confusion come tax time by giving you just one place to...

Time is running out to make tax-saving moves for 2012. Here's a sampling of ideas to consider. * Maximize the contributions to your employer's tax-deferred retirement savings plan, thereby saving taxes immediately and deferring taxes on earnings in your account. Also...

If the current job market has you thinking about starting a business of your own, take some steps to increase the odds that your business will succeed. * The first step is an honest self assessment. Common characteristics of a successful entrepreneur are the drive to...

There are many reasons why the Internal Revenue Service could be contacting you. Some contacts involve very minor corrections; some are for serious changes that could involve a lot of money. Sometimes the IRS is correct in what they are seeking; sometimes they are...

Flexible spending accounts (FSAs) are popular with employees because they permit the use of pretax dollars for payment of medical expenses and dependent care costs. If you use an FSA, be aware that changes are scheduled beginning next year. As part of the health care...