Author: Karen Lombardo

  • How does a business line of credit work?

    How does a business line of credit work?

    A business line of credit can be very effective in funding the growth of your small business or in riding through uneven cash flow periods. However, a business line of credit (LOC) is not for everyone and should not be entered lightly. What is a business line of credit? A business line of credit is […]

  • When does a contractor need to become an employee?

    When does a contractor need to become an employee?

    At Expex, we see a variety of businesses that work in many different vertical markets. Some of our clients hire independent contractors to perform work for them, others hire employees, and some have employees and contractors. We have also seen businesses paying employees as contractors when they should be hiring them as employees. The ramifications […]

  • Tax Planning for Small Businesses

    Tax Planning for Small Businesses

    Effective tax planning is something most business owners avoid primarily because they do not understand it. However, working with your bookkeeper, CPA, or tax professional could minimize the company’s tax liability. The process can help ensure you pay the lowest tax possible and ensure you have the capital to pay the taxes you owe. What […]

  • Using Financial Statements to Grow Your Business.

    Using Financial Statements to Grow Your Business.

    There is a lot of focus on having clean financial statements to understand your business’s performance and have your tax returns prepared at the end of the year. However, there’s more value that business owners can gain out of having clean, up-to-date financial statements. Understanding income statements and balance sheets are a necessary function of […]

  • What is the difference between sales revenue and cash flow?

    What is the difference between sales revenue and cash flow?

    Sales revenue and cash flow are often mistaken for each other or incorrectly used. Revenue is the measurement of your business’s sales and marketing efforts. Cash flow is the activity of cash that comes into and goes out of your business during a specific period. Revenue is essentially money coming into the business and does not […]

  • What is full-cycle bookkeeping?

    What is full-cycle bookkeeping?

    Full cycle bookkeeping goes beyond the duties of a traditional bookkeeper. A full-cycle bookkeeper can complete the entire process of the bookkeeping cycle. As such, the full cycle bookkeeper can perform all of the bookkeeping requirements of a small business. That said, there must still be controls in place to separate duties so that your […]

  • Understanding Small Business Bookkeeping

    Understanding Small Business Bookkeeping

    Bookkeeping for a small business requires skill and understanding of the bookkeeping functions it takes to run a business financially. Many small business owners are easily overwhelmed when it comes to bookkeeping, yet numerous resources and tools can make small business bookkeeping easy and manageable. What is bookkeeping? Simply stated, bookkeeping is the system of recording […]

  • Options for small business lending

    Options for small business lending

    Lending options for small businesses come in a variety of shapes and sizes. Lending sources are used to fund an expanding business or provide financial assistance to a struggling one. While gaining access to funds can help run and manage your business, challenges can arise when small businesses look to lenders and other sources for […]

  • What is working capital and how to calculate it

    What is working capital and how to calculate it

    Many indicators represent the health of a business. Working capital joins the ranks of income statements and balance sheets to determine the company’s financial status. The absence or lack of working capital affects its ability to invest in itself, its employees, technology, and continued growth. What is working capital? Working capital, also known as net […]

  • How COVID is affecting unemployment taxes

    How COVID is affecting unemployment taxes

    Small businesses were hit hard by COVID-19, and even as these businesses start to get back on their feet, there continue to be challenges that make running a small business difficult. One such issue is the increase in unemployment taxes. What taxes are being affected? While there hasn’t been a change in the FUTA (Federal […]