Be careful with money when you’re running a business because it could bring you a lot of trouble. We can start by thinking about large costs.

 

If your business costs are too high you won’t be able to compete on the market. Instead, you will be forced out by another business that is able to sell a similar product at a cheaper price. Cutting costs also will ensure that your business is operating efficiently. Due to this, you will be able to deliver an excellent service to customers. Here are a couple other money issues you need to think about.

 

Legal Lows

 

You want to avoid a lawsuit in your business for as long as possible. Lawsuits are almost an accepted part of running a company but they can be incredibly expensive. A lawsuit against your company could cost you anything up to five hundred thousand in damages. That’s enough to knock a small company out of the market for good.

 

Unexpected Costs

 

Watch out for the bills that you don’t see coming and while that might seem like a paradox, it’s not really. You can watch out for them by ensuring that you always have an emergency fund in your accounts to deal with them. This will guarantee that are you never blindsided by an expensive business cost such as maintaining your property.

Read More Money, Money, Money

Finances

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Both new and veteran small business owners can benefit from knowing a little more about maximizing deductions and getting a better handle on tax time. Whether you are a small business owner who scrambles every year at tax season to substantiate deductions and report all expenses or you are a small business owner who is organized and ready for tax season time and again, you will appreciate at least one of these six tips for making tax time easier for small business owners. Read More 6 Tips for Making Tax Time Easier for Small Business Owners

Entrepreneurship Finances Small Business

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Today’s blog post is a guest post provided by Maple C of http://inspirationspark.us/

Tax season is a time when, like it or not, we reflect upon our financial decisions over the past year. Some of our choices will result in extra funds we’ll have to send to Uncle Sam, and thankfully, others will help keep money in our pockets.
While most of us don’t necessarily look forward to tax time, those who do usually feel a sense of victory in receiving a sizeable refund after taking advantage of as many tax deductions as possible. And there are many things that you, too, can do to help ensure that you aren’t paying a dime more than you have to this tax season. Here are a few suggestions to help make that happen: Read More Don’t Pay More than You Have to In Taxes

Entrepreneurship Finances Small Business

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Wealth and the inequality associated with it in the United States is a very touchy subject when discussed with main street America. Who is main street America? Main street America are those who are considered a part of the “middle class” and those who are considered poor. The rest are considered the wealthy or the 1%. The divide between the two social classes are quite alarming and it seems to only keep widening as the years pass by. Noticed I said the two social classes. This is because the distinction between the middle class and poor is increasingly becoming blurred and only seems to be a short while before there is only the wealthy and the poor. Side note: This is a topic I have discussed in further detail years earlier in a post entitled; The Coming Divide: Where Do You Fall Along the Line. Read More Wealth in the United States Infographic

Economy Finances Life

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This is a post via: http://blog.surepayroll.com/ For more information about accounting, finances and payroll check them out.

For many employees, payday is up there with Christmas and birthdays — but even better since it comes around more than once a year. For employers, on the other hand, payday can be a never-ending and sometimes pretty stressful responsibility. While payroll services and software are readily available, employers may still have to devote a good chunk of time and grit to comply with both employment and tax laws to make sure payroll flows smoothly each pay period. Thankfully, there are some general guidelines to follow when it comes to basic payroll calculations. Read More As a Business Owner Are You Knowledgeable About Payroll Taxes?

Entrepreneurship Finances Small Business

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10 Laws of Power for Entrepreneurs continued…

Law VI: Seek Wise Council in Order to Learn How to Prosper
Entrepreneurs have to understand that you can’t do this all on your own. Help is needed for you to start your business and help will be needed for you to keep elevating to higher levels. Talk with people who are in the position you wish to place yourself within. Experienced people have the knowledge which you seek and can provide you with the guidance that helps you avoid mistakes that they have made themselves along their entrepreneurial journey. This means you have to put away your arrogance and humble yourself so that you can listen and learn. Find a mentor(s) that are all about ensuring your success. Don’t be afraid to reach out to people because you fear it shows weakness. It actually shows strengths that you are willing to seek advice in order to increase your capabilities that leads to you prospering. Read More 10 Laws of Power for Entrepreneurs Part II

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It’s approximated 7 billion people live in this world. How many of these people do you think actually contribute to the economic productivity within this world? Definitely not all, but does even half of the population have a significant contribution towards the economy? No, not even half. The world does not operate in this manner, and due to that fact only a small percentage of people have the opportunity to explore the abundance of this man-made world. The rest of us just get to sit back and wonder what if… Read More How to Create Your Own Economy

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