Small Business
12 articles
The simplified employee pension individual retirement account (SEP IRA) helps self-employed workers save for retirement and get similar tax benefits as employees with traditional retirement plans. Learn SEP IRA rules and eligibility, and the pros and cons of these accounts for small-business owners.
Self-employed people can choose from several different retirement plan options. These include traditional and Roth IRAs, SEP IRAs, SIMPLE IRAs, solo 401(k)s, and even a self-employed pension. The best fit for you and your business depends on your business structure, number of employees, and income.
Everyone born in the United States receives a unique, nine-digit Social Security number at birth. Without this identifier, you can’t enjoy many of the perks that American citizens and legal residents take for granted, including retired and disabled worker benefits. Of course, you also need a Social Security number to file your taxes. Business entities don’t get – or
Over the past couple of decades, the role of the modern CFO has been, and continues to be, redefined. The advent of new technology allowing for enhanced data collection and analysis tools – as well as operating management’s demands for reliable real-time information – has extended the CFO’s responsibility to all aspects of the company. International commerce and
With loan stacking, business owners can take out multiple loans within days, allowing them to draw on funds quickly and get the capital they need to grow. In theory, loan stacking sounds like a smart strategy for small businesses. But is loan stacking all it’s cracked up to be?
“Cash is king” is an age-old saying often used to explain the failure of both businesses and consumer households. Without the proper amount of cash on hand, both of these entities can run into major trouble, and even be forced into bankruptcy. Businesses must have cash on hand for various reasons, such as investing in
“Use your noodle! Your brain is like every other muscle in your body; by using it before you act, the fewer surprises you will have with a greater likelihood of getting the results you expect.” My father’s sage advice more than 50 years ago continues to benefit me when I face a particularly knotty problem
Human beings have always been fascinated with “secrets” through which power is attained, riches gained, and success assured. Our belief in secrets and its natural cousins, conspiracies and superstitions, often appears when we are under stress, dealing with matters seemingly outside our control. According to Science Magazine, humans in those situations have increased illusory pattern
Xero is a full-service online accounting and bookkeeping system that caters to freelancers, solo entrepreneurs, and small to midsize business owners. Its easy-to-use bookkeeping tools make it a simple solution for people who can’t afford an in-house accounting team to keep track of corporate finances. Xero bills itself as an alternative to QuickBooks. It shares
Failure feels terrible. It’s demoralizing, embarrassing, and can wreck your self-confidence if you let it. However, failure can be one of your most valuable teaching tools if you’re willing to learn some hard lessons. Having the courage to fail can pay huge dividends in your life and your career. When you’re not afraid of failing,
FreshBooks is a flexible cloud-based accounting solution for freelancers and established businesses alike. In a crowded space with many cheaper competitors, Freshbooks is among the most popular choices for busy entrepreneurs. Find out if Freshbooks is the accounting software solution for you here.
No matter how large or small your business, you need a business bank account. From establishing legitimacy to ensuring legal protection, maintaining a separate business account has many important benefits. Fortunately, there are many options for business bank accounts that cost little or nothing.
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