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5 Tips to Reviewing Your Business’s Credit Policies for Greater Profitability

by Jillian
Posted on June 10, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

There are many ways to make your business more profitable, and sound credit policies are high on the list. The current slowdown in the economy is a good reason to reexamine your company’s policies. Keep the following items in mind as you review your policies. 1. Don’t be so eager to sign on new customers that you[...]

by Jillian
Posted on May 15, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

Many small start-up businesses are off and running before any record system has been set up. There is money deposited into the new business checking account, some from invested funds and some from sales. Money has been paid out for equipment and supplies, some by check and some by cash out of pocket or from sales receipts. This[...]

by Jillian
Posted on April 21, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

Many small business owners pay too little attention to their financial statements. This is due in part to not understanding just what the statements have to offer. In fact, many may not be able to tell you the difference between a Balance Sheet and an Income Statement. Think of them this way: The Balance Sheet is like a[...]

by Jillian
Posted on March 30, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

Are you aware of the numerous age-related provisions in the IRS code? They are probably more plentiful and significant than you thought. Here are a few examples of the age-related tax rules that could affect you and your dependents. At birth up to age 19 and even 24: dependency deduction. Parents can claim a dependency exemption for a[...]

by Jillian
Posted on March 1, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

If you’re living beyond your means, you could be courting financial disaster. Here are some indicators that you need to get your credit card usage under control. Your income’s dwindling but your credit card balances keep growing. Lost your job but can’t seem to reign in those charge cards? Don’t be surprised when the bill collectors come[...]

by Jillian
Posted on February 4, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

Whew! The rush is over once your personal income tax return is done for another year – or so you thought…right up until the moment you discover information you forgot to include. Now what? The action you take depends on the type of information you forgot. For instance, say you reported all your income on[...]

by Jillian
Posted on February 4, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

Question: My business has not been growing but it seems as though I add more people and equipment without increasing my net profit. What am I doing wrong? Answer: Let’s see what happens in a typical company as the business grows. Suppose that a company is netting $50,000 on total sales of $1,000,000 (a 5%[...]

by Jillian
Posted on February 4, 2015
0 Comments
in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

How much money did you save last year? If you didn’t save at least 10% of your earnings, you didn’t save enough. If your savings in 2013 fell short, the only solution is to take charge of your financial future right now and start saving more money. Saving money doesn’t have to be hard work.[...]

by Jillian
Posted on February 3, 2015
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in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

As the year draws to a close, you may decide to donate cash or property to one or more worthy causes. Besides the satisfaction of helping others, there’s another reward for your generosity. A tax deduction on your 2014 return But the IRS recommends that you keep the following points in mind: 1. You may[...]

by Jillian
Posted on February 2, 2015
1 Comment
in Budgeting, Cash Management, Financial Health, Profit First, Quickbooks, Taxes

In our busy lives, it’s sometimes tough to corral our financial records. Bills, paycheck stubs, tax returns, and bank statements can disappear into dusty attic corners and bulging desk drawers. Important insurance policies can hide out beneath bins of holiday ornaments and electrical supplies. Mortgage documents can sneak into old books or hide themselves in nooks[...]

finances

5 Tips to Reviewing Your Business’s Credit Policies for Greater Profitability

Why Every New Business Needs a Record System

Does Your Business Make Use of Your Financial Statements?

Why Age Matters in the World of Taxes

How to Know if You Have Credit Card Problems

Oops! You forgot something on your tax return. Now what?

Will business growth bring more profits?

No, You’re Probably Not Saving Enough

9 IRS Rules for Charitable Deductions

4 Tips for Organizing your Finances

Get Started Today Download the 5 Core Chapters of the Book Profit First

Avoid the Top 10 Bookkeeping Mistakes

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