ORGANIZE YOUR BUSINESS FOR YEAR END PLANNING SUCCESS
In what feels like the blink of an eye, we are now at the end of 2021. As a business owner, that means you’ve got plenty of work ahead of you to get your financial records ready for tax time.
In what feels like the blink of an eye, we are now at the end of 2021. As a business owner, that means you’ve got plenty of work ahead of you to get your financial records ready for tax time.
If like many business owners across the U.S. you relied on a loan from the Paycheck Protection Program to keep your business afloat during the COVID-19 pandemic, you were certainly glad to have this financial assistance. However, when the time comes for you to file your taxes, you may have many questions as to your tax obligation regarding your loan. Since most tax issues are quite complex, the PPP loan only makes things a bit more muddled and confusing. To make sure you have a good understanding of your state and federal tax obligation for your PPP loan, here’s what you need to know.
Many ambitious entrepreneurs launch an online business using their own funds. They use personal savings or max out credit cards. Tactics like these are even lauded. You can find many articles on the internet that encourage entrepreneurs to do whatever it takes to launch their business online. Entrepreneurs who “risk it all” are called brave and “hungry.” But don’t rush to take advice that puts your own financial security on the line. Instead, run through the ideas outlined below for launching an online business. There are more reasonable ways to get your online business up and running that don’t require such a huge financial risk for you and your family.
Brainstorming is a fun and effective way to stimulate the creative side of your brain. If you want to leverage the post-pandemic surge in business, you may be thinking about starting a business. But ideas can be hard to come by; especially when you feel that time is of the essence. The pressure to come up with a viable business idea within a certain timeframe can make it even harder to think creatively. Thankfully, there are tools available to help you brainstorm your next business idea.
As a business owner, you have put in many long hours making sure your business is successful. But if you want to keep it growing in the years ahead, you will need to develop a brand strategy that will keep your business and its products or services appealing to both new and existing customers. Contrary to what many may think, defining and managing your brand will allow you to project the image you desire, which is especially important in today’s age of social media. If you are preparing to develop a brand strategy for your business, follow these steps to turn your vision into reality.
For some businesses, the COVID-19 pandemic changed things overnight. Employees went home with their laptops and some haven’t returned to the office in over a year. What people thought would be temporary is looking very permanent.
If things work out the way they are planned, you may be receiving a second stimulus check in the coming weeks. Nothing is yet guaranteed, but there are certainly plenty of people who are banking on getting a financial boost from the government during this COVID situation. Any money that may be forthcoming won’t be life-altering, but there are smarter ways than others to use your next stimulus check. If you want to get the most value out of anything you do receive, consider the following suggestions for using your stimulus money.
Have your sales dived during COVID? You wouldn’t be alone – many small businesses have struggled with the abrupt shift in our economy. Despite government programs designed to help, it’s estimated that over 100,000 businesses have closed during the pandemic.
For many small businesses, operating under ordinary conditions is hard enough when it comes to maintaining cash flow, especially for small businesses. However, when you toss in a pandemic on top of the usual obstacles that appear, the situation may feel overwhelming. Yet, despite the vast majority of small businesses in the U.S. taking a severe hit in recent months, the good news is that there are several cash management strategies out there that can be very effective even under the most difficult circumstances. If cash flow is currently one of your biggest concerns, here are some strategies you may want to try.
When they first launch their business, few small business owners think about putting together and documenting policies. They focus on marketing and reaching new clients, the services they’ll offer, and what they’ll charge for them. But, once your business has grown and is past the launch stage, you will need guidance for responding to common issues that arise during business.