Balancing your checkbook isn’t hard to do if you take the time to properly record your transactions (ex: deposits and payments/withdrawals) into your checkbook and subsequently reconcile those transactions against your monthly bank statement.

Considering an upgrade to Windows 11? Here are some tips and best practices to follow!

As a business owner, you may consider distributing bonuses to employees as a show of appreciation for their passion and dedication to the business and/or to reward employees for exceptional performance and/or achievements. It’s important to remember that bonuses should be treated as taxable income and reported accordingly.

Remember those movies where one of the principal characters is dealing with some financial crisis and pulls out a box filled with scraps of paper receipts. Don’t do that!

As a business owner, receivables (accounts receivable or A/R) are a vital part of your business. If you are not billing or invoicing clients and subsequently, collecting those receivables in a timely fashion, your business will be unable to sustain itself.

As a business owner, it’s vital to stay away from using monies from your business to pay for personal expenses even if you intend to reimburse the company later. You run the risk of piercing the corporate veil and getting into serious trouble with the IRS and other tax agencies should you and/or your business undergo an audit (ex: claiming business deductions for non-legitimate business expenses, failure to report and pay taxes on taxable income).

Working from home isn’t a new concept. Some people work from home all the time; but, since the COVID-19 pandemic more people who can work from home have been doing so and will likely continue to do so in the future. While working from home can be an easy adjustment for some, it’s not always the case for others.

Customer service is a core part of many businesses. When customers reach out to or for customer service, quite often it’s about a problem or an issue that requires a resolution. Customers are typically looking for someone who is going to listen to and understand the issue at hand. They are looking for someone who understands that there is a sense of urgency, the issue needs to be treated with a level of priority and that it will be addressed in a timely manner.

You’ve probably heard or have been told to never leave a job until you have another one lined up. If you choose to leave a job without another one lined up, serious concerns include financial stability and security. No job, no income!

Have you ever wondered what would happen if you suddenly lost your job? Are you financially prepared to deal with a sudden loss of your income stream? Do you have a backup plan and reserve funds for a “rainy day” event?

As you get started with your new business, there may come a time when you will need to seek professional counsel from a good business law firm and/or CPA firm. Even if your circumstances may not warrant professional counsel at the onset of your new business, you may eventually need to seek counsel as your business grows.

Now that you’re ready and committed to starting a business, you need to put together a game plan. There are a lot of moving parts when it comes to starting a business so it’s important to be organized, detail-oriented and have all your ducks lined up. You’ll first want to take a “view from 10,000 feet” and then drill-down into the specific details.

Part of starting, owning and running a business is LEARNING and rest assured, there will be a lot of learning! Look, you’re not going to know everything on day one.

So, you’ve reached a point in your life and career where you want to take a leap outside of your comfort zone and are considering starting your own business.