Finance

Why Tax Strategy Matters More Than Most Entrepreneurs Realize Many business owners spend years focused on increasing revenue, hiring great employees, and attracting customers. However, one of the most important financial decisions a company can make often happens…

Tax season can be a particularly stressful time of year, especially for solo entrepreneurs who are already juggling multiple responsibilities. To help alleviate this burden, using artificial intelligence (AI) for tax management can be a game changer. AI can automate…

The call to step into something new often begins as a quiet knowing. A restlessness. A tug at the edges of our current reality that says, something’s not quite right anymore. For some of us, it shows up as boredom in work that once felt exciting, or a disconnection…

Despite the uncertainty generated by tariffs and tariff threats, small business owners’ optimism is rising. That’s according to the Small Business Optimism Index from the National Federation of Independent Business (NFIB), a lobbying group for small business owners….

April is known as much for being “tax time” as it is for being the month where we usually expect more showers that pave the way for May flowers. All forms of entrepreneurship require the entrepreneur to own the process of ensuring taxes are filed in a timely fashion….

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,…

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…

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…

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…

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…

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…

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,…

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…

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…

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,…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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,…

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…

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…

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…

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…

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…

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…

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 Vehicles If you drive a…

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…

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…

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…

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….

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….

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…

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…

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,…

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…

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…

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…

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…

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…

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…

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 ISSUE…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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,…

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….

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…

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…

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…

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…

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…

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…

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….

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…

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….

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…

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…