Category: Business Tips

Business Tips: The Value of Time and Business Decisions

The “time value of money” is a critical concept in handling personal finances. The same basic premise can be applied in making decisions for your business.

Business Tip: How to Keep Your Customers Satisfied

In some industries, service has become a quaint memory. Customers are often reduced to selecting the provider that costs or annoys them the least. But the golden rule has not been repealed. Pleasing your customers can create a powerful competitive

How to Maximize Tax Benefits of Carryforwards and Carrybacks

Although the tax code contains some exceptions, income is generally taxable in the tax year received and expenses are claimed as deductions in the year paid. But “carryforwards” and “carrybacks” have special rules. In this case, certain losses and deductions

Back-to-school Tax Breaks & Supreme Court Challenge

Education tax planning can optimize the available breaks for saving and paying for school expenses. Here are some tips.

Better Business Choices: Analyzing Your Breakeven Point

Breakeven analysis is an important and useful tool in better business choices. Whether starting a new business, expanding current operations, contemplating an acquisition, downsizing, or approaching banks and other potential lenders, one should know what the breakeven is.

Small business owner salary: What’s the right amount?

One of the greatest perks of owning a small business is flexibility. You can set your own hours and salary. You can plot the firm’s trajectory without consulting your boss, upper management, or even corporate policy. But that same flexibility

Business Tip: Accurate inventory numbers are important

For many companies, inventory is a significant dollar amount on the company’s financial statements. So it’s crucial that recorded inventory balances reflect actual values. When such accounts aren’t properly stated, the cost of goods sold and current ratios – numbers

What you need to know before starting a business

What you need to know before starting business

There are several questions you must answer before you even consider starting a new business. Unfortunately, some would-be-entrepreneurs spend more time planning their summer vacation than they do the start of a new business. Most of these businesses will fall

Review your business credit policies

There are many ways to make your business more profitable, and sound credit policies are high on the list. Keep the following items in mind as you review your company’s policies.

Trademark, Patent, or Copyright? What is the difference?

Why should your small business care about getting protection for your intellectual property? Many very successful medium to large businesses started out small. Their patents, trademarks, and copyrights are keeping others from infringing on their markets. The search and registration