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Small Business Owners

5 Options Better Than Taking Out a Bad Business Loan

Like it or not, the business world is rife with opportunities for small business owners to take on business loans that hurt their company in the long run. This happens because cash flow management is one of the most difficult parts of owning a small business. One client doesn’t pay their invoice on time, and suddenly you’re having trouble making payroll, or fulfilling obligations to vendors. Complicating things further, some …Read More

Understanding the Terms of Your Business’ First Office Lease

Your first office lease represents an important step for your growing business. It marks a significant milestone you should celebrate, a culmination of the hours you’ve spent hard at work. You’ve shown a commitment to your ideas, a dedication to your employees, and now, your time and effort have paid off. That said, a commercial lease may not look like the kind of lease you’re familiar with. It has industry-specific …Read More

5 Ways to Use Your Tax Refund to Grow Your Business

Tax season means that if you haven’t filed yet, it’s time to get to it and calculate your potential refund from the IRS. If you have already filed and are awaiting said refund, you’re probably spending some time dreaming about the things you could do with it.   Sure, you can take a vacation, put money into an emergency fund, or buy something you’ve had your eye on. These are …Read More

Time Management for Small Business Owners

Time is money as they say, and that’s especially true when it comes to running your small business. Here are four steps you can take to ensure your time is being spent well:   Set Goals and Plan Your Day Lewis Carrol once said, “If you don’t know where you are going, any road will take you there.” The first and most important step in effective time management is figuring …Read More

5 Tips on Reducing Financial Risk For Your Business

Has anyone ever told you that starting a business was risky? While this is true, anything in life that you do likely has some risk associated with it. So why do you do it? It’s likely because you have identified the risks and figured out how you’d reduce them. Plus, the reward surely outweighed the risk.   The same can be said about your business. The Bureau of Labor Statistics …Read More

When Does My Small Business Need an Office?

With more and more people working remote, it’s worth asking whether or not your small business even needs an office, and if it does then when is the best time to invest? While no one can tell you exactly when you need to invest in office space for your small business, below is a short list of some of the pros and cons of getting an office, which will hopefully …Read More

Retirement Plans for Small Business Owners and Their Tax Implications

One of the less obvious responsibilities of being a small business owner is planning your own retirement. While salaried employees at big companies often contribute to a company-sponsored retirement plan, small business owners—particularly sole proprietors and owners of very small firms—don’t have that luxury.   Unfortunately, about a third of all small business owners don’t have a retirement plan, which means too many people avoid taking steps to secure their …Read More

4 Tips on Building Your Business While Paying Off Loans

One of the top causes of small business failure is lack of funding to not only launch but also grow in the first years. The simple solution is to take out a business loan to ensure you have enough to cover your expenses until profits start rolling in.   But what happens when you’ve taken out a loan but now you have other expenses to pay and you want to …Read More

How to Plan Your Retirement On the Go

It’s common knowledge that you should start planning for retirement early. Staying on track requires learning how to carve out savings and knowing how to manage it all to make sure you have enough when the time comes. Whether you’re in the early stages of the planning process or you’re further down the line and need help managing the money you’ve already set aside, your phone can help. Getting in …Read More

#AskanExpert: How Can I Move My Personal Credit Card Debt to My LLC?

Q. How can I move my personal credit card debt to my LLC? I started a company but I funded it with my personal credit cards first. Now I would like to move those expenses to my company’s LLC. Dear reader, As a business owner, it’s wise to keep your personal and business finances separate. It’s easier said than done, especially when you are starting out. It’s not uncommon for …Read More