Finance
Financial matters and how they impact the decisions you make running your business.
Treasury Department May Fine Small Businesses $10,000 for Missing B.O.I. Report
Small businesses and their owners could face penalties of $10,000 or more if they don’t comply with a new U.S. Treasury Department reporting requirement by year’s end — and evidence suggests many haven’t yet complied. The Corporate Transparency Act, passed in 2021,...
Good News
Small business owners are collectively breathing a sigh of relief at the Federal Reserve’s decision to cut interest rates. CNBC and SurveyMonkey’s Small Business Survey for Q3 found that owners said lower interest rates will lead them to increase investments, expand...
Financial Freedom On Your Terms: Mastering Gig Work Income
Managing your finances can be challenging as a gig worker, but it doesn't have to be overwhelming. You can take control of your finances and confidently navigate the ups and downs of your work by creating a budget that considers the fluctuations in your income. This...
Funding Strategies for Early-Stage Entrepreneurs
When selecting a funding strategy for your startup, it's crucial to consider several factors carefully. You want to choose a funding option that aligns with your business goals and increases your chances of reaching your milestones. Before you decide on a funding...
Essential Tax Tips And Strategies For Gig Economy Entrepreneurs
Tax season can be a bit more complex for gig economy entrepreneurs, but there are several essential tips and strategies to help you navigate the process and potentially reduce your tax burden: Keep Detailed Records Keep track of all your income and expenses throughout...
Beyond the Business Plan: The Importance of Agility and Iteration
In today's dynamic and rapidly evolving business landscape, sticking rigidly to a static business plan can be akin to sailing a ship without a rudder. While having a plan is essential for charting a course and setting goals, it's equally important to recognize that...
Entrepreneurship in Uncertain Times: Adapting Your Business to Crisis
When an economic downturn occurs, businesses of all types face unprecedented challenges. But for new business owners and entrepreneurs, the situation can be particularly daunting. With revenue streams drying up, they may need help to keep their operations afloat. The...
The Benefits Of Outsourcing For A Small Business
Running a small business is no small feat. Limited resources and tight budgets often force entrepreneurs to wear multiple hats. But what if there was a way to expand your capabilities without breaking the bank? Enter outsourcing – a powerful strategy that can...
Decoding the NFT Revolution: Opportunities for Small Businesses
In recent years, the digital world has witnessed the meteoric rise of NFTs (Non-Fungible Tokens) unique digital assets representing ownership or proof of authenticity of digital content. This disruptive trend has far-reaching implications across various industries,...
The Role Entrepreneurship Plays In The Current Economy
Entrepreneurship plays a crucial role in driving economic development. Entrepreneurs are not just individuals who start businesses and make money but also catalysts for growth, innovation, and job creation. Their contribution to the economy is immense, as they create...
Acquiring Veteran Startup Business Loans
Transitioning from an active-duty service member to a small business owner can be a very challenging process. Hence, veteran startup business loans can provide a smoother transition for veterans looking to explore their entrepreneurial endeavors. The Importance of...
Veterans Seeking Business Startup Loans
For veterans who are starting a business but aren’t sure where or how they will fund their new startup, you’ve come to the right place. The U.S. Small Business Administration (SBA) is an excellent place to turn to. While the SBA doesn’t offer small business loans,...
The Basics Of Social Security Tax For The Self-Employed
When you are self-employed, you must still pay social security taxes. Paying into your social security will set you up when it comes time for retirement. Not only do you want to avoid any legal ramifications for not paying social security tax, but the more you pay...
Minority Small Business Startup Loans
Small businesses are the backbone of any thriving economy; driving innovation, creating jobs, and fostering community growth. However, minority entrepreneurs often face unique challenges when it comes to launching and sustaining their ventures. To combat this...
What Health Insurance Deductions Are Available To Self-Employed Individuals?
For some self-employed individuals, it's difficult to stomach the monthly cost of health insurance. But did you know you can receive some of that money back when filing your taxes? By claiming health insurance deductions, all money won't be lost. Below I'll explain...
The Ultimate Guide to Calculating Self-Employment Tax
As a self-employed individual, calculating your taxes can be confusing and overwhelming. Understanding how to calculate self-employment tax is essential to avoid penalties and ensure you are paying the correct amount. In this article, we will break down the process...
What You Must Know About Social Security Tax When You Are Self-Employed
If you are self-employed, you must still pay social security taxes. When you work for someone else, they split this burden with you. It can be nice to have this taken care of by your employer; they simply withhold the tax from your paychecks. But when you are...
How To Successfully Secure Real Estate For Your Business Storefront
If your business needs a storefront, securing real estate to purchase can be a great investment. Not only will owning property give you greater control over your business location, but it can also be a source of long-term financial stability. However, the process of...
Will You Have Enough To Retire On After 30 Years?
Retirement is a topic that most people don't like to think about until it's too late. The reality is that retirement planning should start as early as possible, ideally from the very beginning of your working life. It's important to consider how much you will need to...
5 Ways Employers Can Help Employees During Inflation
Making ends meet during times of inflation can be extremely difficult. With the added pressures of higher gas prices and higher grocery bills, many people find themselves living paycheck to paycheck, struggling to get by. As a business owner, you want your employees...
Is Your Business Prepared For The Next Recession?
As the business cycle ebbs and flows, there are periods of economic growth and stability, as well as periods of recession and uncertainty. While it is impossible to predict with certainty when the next recession will hit, it is essential for businesses to be prepared...
Starting A Business? Don’t Neglect Your Credit Score
Starting a business can be a challenging and exciting endeavor, but it also requires a significant amount of financial resources. One of the most important factors to consider when starting a business is your credit. Your credit score and credit history can have a...
“Financial Wellness Month: How to Check Your Business”
January is Financial Wellness Month, making it not only the optimal time to start new year resolutions and goals for yourself, but also for your business financially. Dedicating the first month of the year to taking a closer look at the financial health of your...
Acquiring New Customers: Are You Spending Too Much?
The general rule of thumb is that recruiting a new customer takes five times as long as maintaining an existing one. But is it better practice for your business to focus more on bringing in new customers or keeping the ones you already have pleased? Which will bring...
Retirement Options for Gig Workers
While retirement may still be miles down the road, it's always a good idea to begin planning for it as soon as possible. The longer you contribute, the greater your future nest egg will grow to be. Even if you aren't working for a company that offers its employees a...
Why Financial Record-Keeping is Essential for Your Business
Recording financials is a critical aspect of running a successful business. By keeping accurate and up-to-date records of your financial transactions, you can gain a clear understanding of your financial health, identify areas of strength and weakness, and make...
3 Tips to Help Keep Your Business’ Budget in Check With Inflation
The impact of inflation is felt by all Arizonans. Currently, diesel gas prices are over $5 per gallon. According to the Rate Inflation, in August 2022, the rate of inflation was 8.263%. As a business owner, I’ve felt the effects over the last 2 years as my shop hourly...
The Importance of Capital for Business Growth
Expanding a business often requires capital, but not always. While it's true that many businesses need to secure additional funding in order to grow, there are other ways to expand without taking on more debt or equity financing. One way to expand without needing...
Key Strategies for Cost Control in Your Business
Controlling costs is a crucial aspect of running a successful business. Not only does it help improve your bottom line, but it also allows you to allocate more resources towards growth and innovation. In today's fast-paced business environment, it's important to...
How To Progressively Handle Money Between Business Partners
Starting a company is a daunting task but having someone do it alongside you can alleviate many of the struggles that doing it alone contains. The issue then is how much of the company and its profit should be shared between partners. The ensure sustainability within...
The Key To Preparing In Any Economy
Unlike typical weather forecasts the economy does not have a set trajectory or definitive fluctuation. Because of this the economy can grow and collapse in faster than usual shifts at potentially very rapid rates. Trusting instinct or news outlets to provide timely...
Gig Jobs With High Pay
The gig economy has a reputation of short-term tasks done in volume to obtain the desired income of their worker. This, however, is not always the case as some gigs may break this stereotype with higher paying opportunities with comparable volume. The typical gig...
Importance Of Equality For Gig Work Pay
According to ZenBusiness, the hourly rates for 6,000 freelances billed over 100 hours of work on the freelancing website Upwork show that men charge an average of $22.28 more hourly than women. With the growing of the gig economy, it is important to ensure equality...
Pros And Cons Of Having A Holiday Sale- How To Know If You Should Have One Or Not
If you’re like me, you love a good holiday sale. It feels amazing when you score the perfect item at a reasonably lower price. But when you’re on the other end of that, being the one selling that item, it may not be that exciting. Especially when taking a look at what...
How To Make Q4- The Last Business Quarter Of The Year Strong Through The Holidays
It’s no secret that for businesses, the holiday season can be stressful. As the year is coming to a close it’s important for business owners to finish it off with a bang. Here’s how you can make a strong impact in the final quarter and walk into the new year with...
4 Things To Keep In Mind When Selling Your Business
With entrepreneurship on the rise during and after the pandemic, business owners are facing a lot of firsts. One thing that new business owners need to be prepared for is selling their business when the time is right. Business owners decide to sell for many reasons...
Business Expenses You May Not Have Thought About
The easiest way to set yourself up to making money requires money to be first used to help leverage the income process. Money is important especially for small businesses, which is why losing any to unknown or uncompensated expenses can have detrimental effects on the...
What A Recession Means For Business Owners
By now you know firsthand what it's like to live in a not-so-great economy. With the prices of food, gas, and everyday essentials sky rocketing, as well as the challenges we’re facing with the supply chain, times are tough. Not only are you feeling this in your own...
How Recessions Have Historically Impacted Business Owners
There have been 14 recessions in the United States dating all the way back to the Great Depression. Fortunately, the US economy has always managed to bounce back. But what impact has that had on those who own their own business? There was a brief recession during the...
Tips For Entrepreneurs Navigating The Recession
As it becomes inevitable that we are heading towards a recession, if not already there, many worries are bound to flood in. Do I have enough money? Will I need more? Now can be a stressful time, especially for those entrepreneurs who are just starting out and trying...
When Should You Sell Your Business?
Starting a business is most entrepreneurs’ dream, however the pursuit of success requires practice and sacrifice. Therefore, by starting companies, businessmen must be conscious of when the right time to sell a company should be. There are several reasons as to why a...
How To Manage Payroll And Payroll Taxes
Managing payroll is a vital need for companies to be proficient at in order to not fall out of any legal regards when coming to taxes and missing information. This skill is responsible for the keeping of records, processing paychecks, monitoring employee performance,...
Are We Headed To A Recession?
As if the effects of Covid weren’t enough, Americans are now dealing with inflation. Higher gas prices, rising interest rates and increased cost of food have many people unsure of just how they’ll get by. As prices rise, wages remain the same. This inflation has led...
Small Business Optimism Drops To Record Low
The year 2022 brought enthusiasm to people. As our nation gained better control over the COVID pandemic, people were left thinking they would finally be able to get back on track. But fast forwarding to the present, many are left feeling rather bleak about the...
Here’s How Small Businesses Can Cope With Inflation
The pandemic had a huge impact on small businesses, but fortunately, they had access to Paycheck Protection Program (PPP) loans to help keep them afloat during these unprecedented times. However, now, the Federal Reserve is increasing interest rates to slow inflation...
5 Things You Should Know When You Are Selling Your Business
One of the most significant transactions you will make in life is making the decision to sell your business. To alleviate some of the stress, follow these guidelines and gain better insight during this process. Determine the value of your business You wouldn't want to...
Is now a good time to retire? Consider these 4 things
The idea of retirement is changing alongside the turbulent nature of today’s economy. Many imagine retirement as a time to stop working and enjoy the freedom to do what they want. Now, many people who are at retirement age may need to continue working, or at least...
How Small Business Banking Is Changing
As small business owners are beginning to bounce back after the pandemic, some are continuing to struggle amid the recent inflation and supple chain issues we are facing. In a recent study, a whopping 89% of small businesses admitted they just didn’t have access to...
How to Create a Q1, Q2, Q3, and Q4 Plan
A quarter planning system splits up the year into four three-month periods on a businesses’ financial calendar. This makes it easy for a company to plan out their strategies and set quarterly goals for the year. Q1 starts off the year consisting of the months of...
Keeping Your Prices Updated With Inflation
During this first half of 2022, inflation and the fear of its increase has been an ever-present force that doesn’t seem to have a foreseeable end in the immediate future. As a result, it would not be beneficial for a company to go unchanged when going through this...
How Fed Interest Rate Increase Effects Small Businesses
It is expected that the U.S. Federal Reserve will increase interest rates increasing consumer borrowing costs. Jerome Powell, Federal Reserve Chairman, is expected to proclaim the central bank’s key interest rate from near zero to counteract the rising inflation. This...
Small Business Loan Funding Surged 27% in 2021: Report
In recent years there has been a large surge in new applicants for small business, but with that surge there has also been a large surge in applications for small business loans. A report from Business.org provides insight into this topic. According to the State of...
More Jobs and More Raises at Small Businesses
Although there seems to be inconsistencies in the U.S. economy, small firms are consistently persistent in their desire to hire new qualified employees. The National Federation of Independent Business have proven this fact true through their latest monthly employment...
Tips for Business Trips
It is inevitable as you grow into your entrepreneurial adventure, you will be traveling quite often. There are many roadblocks that come with traveling such as less time in the office, mobile contacting, and time may seem to slip away faster. Here are several ways to...
How to Maximize your Tax Return as a Freelancer
In the last few years, freelancing, gig work, and home offices have been more common. When it comes to tax season, people who have adapted to this new form of work want to make sure they are getting the most out of their tax returns. Work Based VehiclesIf you drive a...
How Are The Supply Chain Issues Impacting Entrepreneurs?
With our current supply chain issues in this country, there are lots of aspects to think about when it comes to your business and its revenue. These issues can have a major impact on how your business does in the short-term and in the long run. Late deliveries If your...
Tips for Gig Workers to Avoid a Large Tax Bill
Filing your taxes as a freelancer can seem like a tedious task to get through as a freelancer. You are your own boss, no longer employed by a company. Being in the gig economy has its perks, and there are plenty of ways to take advantage of tax season to avoid a large...
Business Owners, Keep Your Prices Updated with Inflation
During the pandemic, median household income fell 2.9% and every year, prices increase 5.3%. As a business owner, you see the changes and may start to worry about your business. Fear not, there are ways to combat inflation without severely increasing your prices and...
Three Ways to Make Money Online
Making money online has become popular to make extra cash, you can even do it without leaving the couch. 1. Start Investing The easiest way to make money online is through investments. There are many ways that you can start investing: real estate, stocks, and crypto....
Gas Prices and Gig Work
Increased gas prices have affected everyone across the world since the start of the Covid-19 pandemic. In Arizona alone the average price of a gallon of gas is $3.32. Gas prices cause more pain than just paying a couple extra dollars when stopping at the gas station....
Small Business Owners, There’s Still Hope
If you are a small-business owner, and you have become adapted to the constant fluctuation of the economy in the past, rumor has it there is hope right around the corner. I know I know… Another article about the trials and tribulations of being an entrepreneur in the...
The Great Depression and Today
As of October 2021, Wendy Edelberg shared in “What does current inflation tell us about the future?” that we have seen an inflation rate of 6.2%, increasing gas prices and average cost of living that can be compared to the Great Depression. History The Great...
How an Entrepreneur Can Take Advantage of Their Commercial Real Estate Search
One of the major steps in creating or expanding your business is to find a space that works for your company. Sometimes that can be in your home but other times you need a space strictly for business. Finding a commercial real estate property can be difficult,...
Filing Your Taxes Like A Pro This New Year
It is almost that time of year… tax season. But filing your taxes does not have to be all that dreadful when you master the basics. Firstly, understand that filing your taxes is a tedious process, but it is meant to benefit you- the taxpayer with that big tax return...
How Will Increased Government Regulation Impact Small Businesses
Small businesses are the forefront of the American economy. They drive economic growth and creativity. According the US Chamber Foundation, 98% of businesses have fewer than 100 employees. Unfortunately, these businesses are also the first to feel the effects of...
Don’t Worry, You’re Not out of Options — Tips for Staying on Top of Debt
It’s a horrible experience to be in debt as a business owner. It keeps you awake at night because you’re not sure what’s going to happen to you or your family. Nearly every entrepreneur has experienced this, and many get themselves out of that situation in a smart and...
How to Protect Your Credit During the Pandemic
If you’re worried about your credit, or what to do once your debt relief program runs out, you’re not alone.If you’re worried about your credit, or what to do once your debt relief program runs out, you’re not alone. At the start of the pandemic, the lending community...
Increasing Gas Prices are Drastically Impacting Gig Workers
Gas prices have always fluctuated but have had spikes more dramatically throughout 2021. Gas prices may be affected by oil prices, gasoline supply and gasoline demand. This heightened price has placed intense pressure on available supplies. 2021 gas prices are at the...
Entrepreneurs in Restaurants And The Devastating Rising Costs
Are you wondering why your favorite restaurant went from being open 7 days a week to only 3? Or why is it taking abnormally long for you to get a table at a restaurant and the waiter to bring out your food? You’re not the only one. Ordering french fries went from $3...
The Reality of Working in a Post-Pandemic Economy
To say the work economy has changed since the Covid-19 Pandemic is an understatement; the workforce has completely transformed the regular nine to five job as we know it. Mobilizing jobs has become astonishingly popularly, if not essential for individuals. THE...
GIG workers earn over $1,000 a month! This could be you.
Do you want to earn a great paycheck? Do you want to have flexibility with your job? How do you feel about being your own boss? The current gig economy is booming, transportation services such as Uber are making up 90 percent of the gig economy (Broda, 2021). What is...
Here’s how gig work provides an outlet and income for retirees
For many, retirement is the ultimate goal after decades of work, however, a portion of retirees “reverse” retirement and rejoin the workforce. According to a Federal Reserve Board study, one-third of retirees return to work on either a full or part-time basis. Is...
What’s an SBA Loan — And Does Your Business Qualify?
Struggling to survive in 2021? You’re not out of options yet! With the PPP and many other relief efforts being made during the pandemic, you might think: “Wait, they’re bringing out another program?” Not exactly. SBA Community Advantage (CA) loans have been around...
Should You Use a Rental Car for Your Next Road Trip?
Planning your next road trip? If so, are you sure you want to take your own car? While it might seem obvious that driving a rental car would be more expensive than driving your own, there are certain scenarios where you may want to use a rental car instead. First, a...
Should I Consolidate My Student Loans?
These days, an increasing number of young entrepreneurs are dealing with the same question: What do I do about my student loans? Fortunately, federal loan consolidation is often a great option for student loan borrowers. It provides the convenience of having only one...
Are Rewards Credit Cards Worth It?
Getting 5% back on all your purchases is a tempting offer — even if it’s only cents most of the time, it can still majorly add up by the end of the year. But are rewards cards really worth it? Let’s take a look. Pay off the bill on time.If you don’t pay off your card...
Get A Second PPP Loan
The Paycheck Protection Program (PPP) relaunched in December, with brand new applications being released on March 3, 2021. As a small-business owner, you’re being prioritized by lenders and given extra resources to keep your business on the ground.The Paycheck...
Decline in Purchasing Power Lowers Home Ownership Rates
Many factors go into the statistics we’re seeing today, but there’s no arguing with the facts themselves: Americans today own homes at a lower rate than in the past, and younger Americans are less likely to own their homes than their parents or grandparents were at...
‘Extended Warranty’ Not Just a Scam
By now, most hear the words “extended warranty” and our minds go straight to the robocall that targets some of us on a weekly — or even daily — basis. That particular scam has been going on for a long time, yet most people don’t know how to handle it. Hang up, and...
Allstate Identity Protection’s ‘Line in the Sand’
Isn’t it funny how many services won’t let you cancel them if you’re displeased? For example, if you’re paying a company good money to monitor your data, and someone still skims your card info and buys $400 worth of cigarettes and scratch cards in New Jersey, that’s...
What Most Payment Processing Companies Don’t Tell You
When you aren’t familiar with cars, you might pick your auto mechanic by chance. You just have to hope they’ll be honest and won’t rip you off. When you aren’t familiar with cars, you might pick your auto mechanic by chance. You just have to hope they’ll be honest and...
Your Traveling Expenses Are More Tax Deductible Than You Think
When you travel for business, many of your expenses can be written off on your taxes — you just need to know the rules. Here’s a quick guide to get you started! Driving Out of Town To start, deduct your out-of-town miles the same as you would for local drives — this...
Helping Your Student in Debt?
About 9 out of 10 parents are willing to help their child get out of debt. And student debt is a very common type of debt for young people today. If your child has taken a student loan, it’s probably the first loan they’ve ever received. That’s a huge responsibility,...
You CAN Make Up for the Financial Mistakes of Your Youth — Here’s How
As a young person, a lack of financial expertise can make you prone to mistakes without realizing how irresponsible spending can affect you later in life. Unfortunately, negative information like payment delinquency can stay on your credit report between 7–10 years....
Do You Need Insurance to Protect Your 401(k)?
Since the onset of the pandemic, our lives have increasingly revolved around the digital realm, shaping how we interact socially and manage our finances. As we immerse ourselves further into the virtual landscape, we often expose a significant amount of personal...
Bad Credit but Need Funds? Here’s the Biggest Mistake Most People Make
If you have less-than-ideal credit, it’s no secret that it’s tough opening new lines of credit or applying for new residences. If you’re faced with rejection after rejection, you might be tempted to apply even more — but the truth is that repeatedly applying for a new...
How to Choose the Best Payroll Processing Company for You
Nobody wants to be paid late — and employers, perhaps even more than employees, don’t want to pay late either. It can be illegal to make even the smallest mistakes when it comes to payroll, and you’d rather be the great friend people trust and can rely on instead of...
What Many Small-Business Owners Haven’t Tried to Reduce Payroll Processing Costs
Whether you’re calculating payroll yourself or using a third party, many miss a crucial fact: Your time is worth something. How much does it cost for you to run payroll? As the key decision-maker, your time, focus, and energy are extremely valuable to your business’s...
Is Your Business Underinsured?
These Times May Be Turbulent, but That's Why Your Business Needs the Right Coverage Your business needs to be prepared for the future in a lot of ways, and one of them is through insurance. Between the pandemic and political polarization, small businesses have been...
Need to Update Your Business Tech but Still Save Money? Here’s How
Are you feeling a bit left behind lately? While the pandemic lockdowns have pushed people further into the virtual world, not every business has felt entirely prepared for the shift. How do you keep up with entirely virtual business if your office isn’t properly...
Get Funding for Your Small Business
Running your own business is an exciting and fulfilling process—but there are a lot of variables to consider. As a small business owner, you must balance your time between increasing cash flow and building your business' mission, branding, and sharing your passion....
How Buying a Company Car Can Give You More Control
The upfront cost of having a company car for you and your employees can seem steep — but it can actually be a huge boon to your business. Especially in the pandemic, when company travel by car is becoming more common, you might want to consider a car to get your...
The Top 3 Business Podcasts
If you’re an entrepreneur, you most likely love your craft. But you also love making a living off of that craft, which drives you to grow your businesses. Because of the pandemic, now is the perfect time to creatively rethink how your business scales to new heights....
How Creditors Are Assisting Their Credit Holders
Currently, many of our business models are shifting to meet the adjusted needs of our markets. Some of these models rely heavily on credit, which has many entrepreneurs losing sleep. However, creditors realize that if they want to succeed, their credit holders need to...
What to Ask Your Insurance Provider
The COVID-19 pandemic has undoubtedly posed significant challenges for small business owners, forcing them to confront various uncertainties, including insurance coverage issues. Navigating these complexities and ensuring financial stability has become a top priority...
Government Small Business Assistance Programs
Right now, many companies in our entrepreneurial community are scaling back or re-evaluating their business models. However, federal assistance programs for small business owners are available, such as the Paycheck Protection Program and the Economic Injury Disaster...
Restore Your Good Credit
It can be a challenge to rebuild good credit if you’ve faced bankruptcy or a challenging financial situation. When your credit is down or wiped out, many lenders will decline to extend credit to you leaving you with few options. When you want to rebuild your credit,...
Track and Improve Your FICO Score
If you don’t get off the ground, you won’t be able to build your company to new heights. Raising capital is a crucial part of that process, and you may need to take on debt to do it. But, if your credit is less than ideal, it can take years to find the proper funding...
Tax Relief and Amendments You Need To Know
As a business owner in our current situation, you have a lot on your plate, including taxes. While the IRS is usually a source of stress, they’re doing their part to help those in need, including companies. If you’re still working through your taxes, here is what you...
Entities That Are Economically Fighting COVID-19
As a small-business owner, you have a lot on your mind right now. Demand is in flux, and with the virus spreading, you have to make some hard decisions about how to handle remote work. But you do have options and resources at your disposal, including your AFEUSA...