Rick has been managing his small business accounting using a spreadsheet for the last eight years. He has a fair amount of number crunching to do, but it still seems faster than trying to enter all the data into an accounting system. Recently Rick’s business has expanded and the spreadsheet is getting unruly. After some […]
For many people, acquiring a rental property is the first major investment they make that they also must actively manage. Many property owners don’t move past a couple of properties while others soon expand to dozens. Each person has their own goal, and rental property management or investing is not for everyone. I tried my […]
I’ve owned and managed businesses for over a decade and been around business owners for even longer than that. Some businesses drown in paperwork while others exist with a debit card and a wallet full of cash. One business can produce copies of a year’s worth of receipts in minutes while the other needs hours […]
Many aspects of our lives revolve around a monthly schedule, and bills are no exception. We expect to make car, mortgage, and utility payments each month. However, there are other expenses, like taxes and insurance, that we pay quarterly, semi-annually, or annually. Most people don’t question the timing of monthly or yearly bills, but business […]
Christina has a small bakery. As a hobby, she has been designing websites for fun for the last 10 years. What she enjoys most is trying all the new web building software. In the past three years she’s created websites for her friends and family but never for money or as a business. She was […]
Clint has a small business and draws heavily from his business degree and corporate experience when setting up his accounting system. The process was long and tedious but he’s happy with the result. He can create purchase orders when he needs to buy inventory, produce sales orders when new orders come in, and generate financial […]
When I purchased my first large business asset, a semi truck to be used in my family’s trucking business, I got a great deal of 30% down and 30% interest, and full repo if 14 days late. Talk about being taken to the cleaners, but I was just happy to find financing. Fresh out of […]
My family comes from Romania, and like most Eastern bloc countries, the brush with communism left many people to rely on the government for their retirement. There is also a strong family support system, which is common throughout the world, but this burdens the children with taking care of the elderly. This mindset takes a […]
Martin had a very profitable year with his home remodeling business. He knows he will need to pay a lot in taxes. His accountant warned him to pay estimated taxes but Martin was too busy to listen. Over a business lunch, Martin mentions his predicament to his fellow business owners. They ask why he doesn’t […]
Katie sat down with Marissa, her CPA, to finalize her taxes. It’s already past the deadline, so the pressure is on to get them filed promptly to avoid any more penalties. After a grueling two hours of questions and document requests, Katie feels confident that she has divulged every necessary detail of her personal and […]