Category: Starting a Business

How to Get a Business License in Your State

How to Get a Business License in Your State

When starting a business, one of the immediate tasks business owners need to take care of is getting any required business licenses. Those may include general business licenses, local business licenses and professional or occipital licenses. Failing to follow business licensing requirements can result in fines or even get your business shut down. Here’s what you need to know. What Is A State Business License? If you’re starting a business or nonprofit, you may be wondering what a state business… Read More
Small Business Loans & Grants for Veterans

Small Business Loans & Grants for Veterans

Veterans help fuel American small businesses. However, they face significant challenges that can make it more difficult to grow their businesses and get financing. Here we’ll share options for veteran business owners to get the help and funding they need to start and grow their businesses.  First, a few important observations, according to SCORE’s report, The Megaphone on Mainstreet: Unsung Entrepreneurs:  Veterans represent 9.1% of all American small businesses and generate $1 trillion annually in receipts.  Veterans are 35.4% more… Read More
6 Tools to Set Your Business Up for Success in 2022

6 Tools to Set Your Business Up for Success in 2022

There are multiple factors that contribute to the overall success of a business, and while some of them are directly tied to your effectiveness as a business owner– motivational level and overall attitude and acumen, for example – many others depend on how you leverage resources to maximize efforts and increase productivity and organization. In today’s diverse workplace, that often means incorporating tools and apps that make working easier and smarter. Fortunately, there are a variety of easy-to-access and affordable… Read More
7 Ways to Make Your 2024 Taxes Easier

7 Ways to Make Your 2024 Taxes Easier

As a small business owner, taxes are probably one of those tasks you try not to think too much about until you have to. There are steps you can take throughout the year to make tax filing easier, and the sooner you get started, the more smoothly your filing season will go.  1. Determine How Frequently You Need To Pay Taxes If you’re a small business owner or are self-employed, there is a good possibility you need to pay quarterly… Read More
Everything You Need to Know About the New Overtime Law for 2020

Everything You Need to Know About the New Overtime Law for 2020

Cash is king for business owners, plenty of it can make your dreams come true, and a lapse in cash flow can sink everything. One of your most important expenses as a business owner is payroll, and things could get a lot pricier starting Jan. 1, 2020, thanks to a change in overtime rules. New Overtime Rule In 2004, the US Department of Labor (DOL) established $455 per week as the earning level at which employees would become exempt from… Read More
Balance Sheet vs. Income Statement: What’s the Difference?

Balance Sheet vs. Income Statement: What’s the Difference?

A balance sheet details your company’s assets, liabilities, and shareholder equity at a specific time. An income statement shows what income is going in and what spending is going out, detailing a net profit or loss for a company. Balance Sheet Template Income Statement Template What is a balance sheet? A balance sheet is a financial statement of what a company owns, what it owes, and how much shareholders invest.  The balance sheet formula is: Shareholders’ equity + Liabilities =… Read More