Do Health Care Costs Count as a Business Expense?

Do Health Care Costs Count as a Business Expense?

Stephanie leaped at the opportunity to become a spa owner. In her excitement, in getting up and running, she never opened a business checking account and used her personal checking account to operate her massage spa.

It wasn’t intentional, she was going to do it, but one day lend into weeks, which lend into months, which lend into the end of the year.

When tax time approached, Stephanie needed to get financial statements and financial documents to her tax accountant, she couldn’t remember who the purchases belonged to. Were these purchases and deposits personal or were they for the spa?

Why Direct Primary Care Is An Affordable Health Care Option for Business Owners

Why Direct Primary Care Is An Affordable Health Care Option for Business Owners

Having access to affordable benefits is one of the most significant challenges to entrepreneurs in America. Health care in particular presents challenges due to expense and importance of your health history.

I want business owners to enjoy financial wellness, but that means their overall health needs to be taken care of as well.

How To Know When Your Business Is Ready To Hire A Bookkeeper

How To Know When Your Business Is Ready To Hire A Bookkeeper

Whether it’s the right time for you depends on many factors. How many transactions do you make in a typical month? How much time are you currently spending each week and month on bookkeeping?

There a number of free tools that small business owners can use to assist them maintain their financial records.

How To Achieve Financial Health And Wellness For Your Business

How To Achieve Financial Health And Wellness For Your Business

As a business owner, you must continuously learn, adapt, and grow to keep your business in the best possible position to succeed. This means that professional development isn’t something that sits on your wish list–it’s a necessary investment.

3 Reasons Your Business Needs a Financial Team for Tax Time

3 Reasons Your Business Needs a Financial Team for Tax Time

March is here, and soon will come the blossoms of spring. So lovely! Unfortunately, there are a few less savory arrivals also marked by spring, like tax day. Are you prepared?

As a small business owner, part of your responsibility as CEO and CFO is to ensure that you have accounted for and reported your organization’s income and tax liability accurately. Ideally, you have systems in place throughout the year to track your revenue and expenses.

If that is not the case, no need to panic. With proper preparation, you’ll be ready for April 15. But the time to start is now. Here are three tips to help you get there.

Starting a New Spa and Massage Business

Starting a New Spa and Massage Business

Stephanie leaped at the opportunity to become a spa owner. In her excitement, in getting up and running, she never opened a business checking account and used her personal checking account to operate her massage spa.

It wasn’t intentional, she was going to do it, but one day lend into weeks, which lend into months, which lend into the end of the year.

When tax time approached, Stephanie needed to get financial statements and financial documents to her tax accountant, she couldn’t remember who the purchases belonged to. Were these purchases and deposits personal or were they for the spa?

Be in the Driver’s Seat of Your Business’ Finances

Be in the Driver's Seat of Your Business' Finances

Let’s talk about something you likely do every day: drive your car. When you’re in the driver’s set you determine where you go and when. You set the destination and the course. You feel a sense of relief and accomplishment when you arrive. You have control to set your path.

Now, think of that analogy when it comes to managing your business’ finances. You can take your place in the driver’s seat and take charge of your journey. Or, you can take a passive approach and be the passenger, with little say in where you’re going or how you get there.

Which method do you prefer?

Bookkeeping vs. Accounting for the Private Practitioner

Bookkeeping vs. Accounting for the Private Practitioner

What is the difference between bookkeeping and accounting? Bookkeeping is a function of accounting. It is transactional. It is the recording of your practice’s daily transactions. Daily transactions include producing invoices, paying bills, running payroll and reconciling accounts. These tasks allow you to create different financial statements. Accounting is transforming the daily business transactions into financial statements that are easily understood by the practitioners/clinician.

3 Ways to Protect Your Side Hustle Income

3 Ways to Protect Your Side Hustle Income

Ah, the infamous side hustle. It has become more and more common for people of all ages, but particularly Millenials, to pick up an extra job in order to meet their expenses. For some, it’s also a way to dip their feet in the waters of entrepreneurship without having to get their hair wet.

The good news is that you are a business owner, my friend. Congratulations! Whether it is what you do as the sole means of earning a living or part-time, you have created a service, drawn customers, and gained income from the enterprise. That means that financial management of and bookkeeping for your enterprise have jumped to the top of your list of responsibilities.