A deduction is anything you spend or incur in your business that is an expense of some sort. It’s a deduction against the revenue of your business, whether it’s a cost of goods, an expense, or even a home office deduction.
Top 12 Questions When Hiring An Accountant
Year-end is the perfect time to decide if you’re with the right accounting partner. Here are the top 12 questions you should consider asking when it’s time to hire an accountant, tax preparer, or accounting team for your business.
Inventory & Operational Expectations in 2021
There are a lot of moving parts to inventory, making it a big deal especially in the world of e-commerce.
If you don’t have inventory, you don’t have sales. You have to keep your eyes on your inventory levels so you don’t run out of it and in order to maximize sales.
Why You Need to Celebrate Y21Q02 Profit Distributions
In your business, what do you usually do by the end of each quarter?If you answered anything other than profit distribution, then now is the time to start considering it – seriously!
Discovering Who You are as an Online Entrepreneur with Katie Chase
What do you do when you’ve spent so much time, money, and energy building your business, but something just doesn’t feel right?
Baby Steps to Financial Projections for Your Online Business
A financial projection is not just about cash flow forecasting. In the world of e-commerce and online business, your money is just as highly volatile as your sales are unpredictable.
Setting Pay Play Profit Goals For 2021
How do you achieve success in 2021? Easy. Begin by setting your Pay Play Profit goals for 2021 first.
Personal & Business Finance: Know The Difference
It’s so easy for us to just mix our personal finance with our business finance. And if you’re not being intentional about it, you’re going to struggle with this later on. Especially when you’re in the early days of your entrepreneurial journey, you might find it very difficult to separate the two. And if you’re 100% the owner of that business, it’s almost always easy to say that it’s yours anyway.
Why Profit First With Author Mike Michalowicz
In Mike Michalowicz’s book, Profit First (which is also a growing movement by the way), the Profit First principle removes the complexity and just focuses on ensuring there’s profit stored away.
Profit vs. Cash Flow – What You Need To Know
Profit is way bigger than just money. It means you’re chasing something bigger than you. In the right frame and with the right formula, profit is very powerful.It’s a matter of having a better understanding of what seems like complicated terms (but they’re actually not!).