Hiring a new employee is a big accomplishment in any small business, and there are a lot of steps involved, too. Here’s a handy checklist to help you stay organized when you bring that new hire on board. First things first, the legal and accounting items: Signed employment agreement, typically an offer letter. There may also be a supplemental agreement outlining employee policies. Payroll documents include: IRS form W-4 Form I-9 Copy of employee’s government-issued…
Read MoreOne of the biggest challenges for small businesses is managing cash flow. There never seems to be enough cash to meet all of the obligations, so it makes sense to speed up cash flow when you can. Here are five tips you can use to get your cash faster or slow down the outflow. 1. Stay on top of cash account balances. If you’re collecting money in more than one account, be sure to move your…
Read MoreDo you remember the days when you got a report card from school? Now that you have a business, your business has grades as well. But it’s up to you to calculate them. Here are some grades you can compute for your business to give it a report card of its own. Financial Grades How successful is your business from a financial standpoint? These financial ratios can help you give yourself a grade. Return on…
Read MoreThe start of a new year also means that it’s the perfect time to revisit old business strategies from last year so that you can maximize your revenue for 2019. If your financial numbers were fantastic last year, that’s great! Keep the strategies that worked for you and cut the ones that didn’t. If your financial numbers weren’t amazing last year, or maybe you’re just interested to see how you can increase your revenue, we…
Read MoreMany people in their retirement years have regrets about not saving more during their earning years, but you don’t have to be one of them. All you need to do is be realistic and proactive about saving. It’s all about paying your future self. Circumstances can arise that can erode savings you hoped would be there for retirement. Some of those events include not being able to work due to poor health or a…
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