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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 […]
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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 […]
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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 […]
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Why Should I Track My Business Expenses?
Understanding business spending, specifically business expenses, can help the business owner monitor and predict costs looming in the near future. Business expenses should be tracked through your financial accounting system and reviewed monthly as part of your income statement. Creating the habit of tracking your expenses makes for a clear understanding of your business spending, […]
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Running a small business requires a large undertaking.
Many of our clients are small and medium-sized businesses faced with numerous large challenges. They live and work to make their business successful yet without resources, many small businesses struggle to grow and make a profit. What are the challenges small business owners face? With so many articles written in numerous journals, the general consensus […]
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What is the debt to equity ratio and why should you care?
Let’s start at the beginning. What is a balance sheet? Even the most confident and experienced business owners stumble when we talk about the balance sheet. Don’t over think it: A balance sheet is a statement of assets, liabilities, and equity as of any given date. Typically, a balance sheet is prepared monthly, quarterly, or […]
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What to Be Careful of When Using Business Credit Cards
There are certainly a lot of perks to owning a credit card for your business. It is a quick and easy way to make purchases, and some cards have rewards or other bonuses for money spent. However, there are also some pitfalls to be aware of before you start putting your expenses on business credit […]