Author: Ken Boyd

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When is your car an actual business expense?

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You can deduct the actual costs of using your personal vehicle for business use. How the tax rules work The IRS allows you to deduct the actual expenses …

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What is an income statement?

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The income statement is a financial statement that reports on company revenue, expenses, and net income as of a specific time period, such as a month or year. …

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How contractors can improve their profits

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Underpricing your product or service can be dangerous to your bottom line. Nellie Akalp, entrepreneur and founder of CorpNet.com, explains that: “Even though you might land the sale, …

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Is ignoring financial statements killing your company growth?

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Successful business owners learn from their mistakes. The effort required to operate your business may seem overwhelming, and you have to make a multitude of decisions …

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Everything your small business needs to know about managing multiple construction projects

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It’s difficult to keep all the balls in the air, when you’re trying to manage your business. It’s great to have a number of projects in …

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This budget & planning guide can help your small business thrive

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Successful business owners create an annual budget and compare the budgeted amounts to actual results each month. This process is the best way to make smart …

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How to calculate job costing totals to increase your profitability

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Do you really know how to price your product or service? What assumptions are you making about your costs? Are you pricing your product so low that you’re not making …

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Understanding the difference between job costing & process costing

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Do you control your business, or is your business controlling you? Gino Wickman, an author and business consultant, finds this lack of control as a common frustration with …

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Does your small business need a POS?

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Customers demand convenience. If your business can’t make the buying process quick, easy, and convenient, customers will go somewhere else. There are lots of examples that …

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What’s the fastest way to get student loan forgiveness?

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It’s little surprise that many of America’s 45 million student loan borrowers are looking to loan forgiveness programs to ease their burden. But while loan forgiveness sounds like a dream …

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How to plan an international strategy for your small business

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Is an international business strategy the next step for your small business? Expanding into new global markets can dramatically boost sales and profits, but it also requires …

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How contractors can take charge of job costing

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Do you clearly understand all of the costs you incur to create your product or deliver your service? Now, that question may sound odd to you. …

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7 commonly ignored financial reports (you should actually pay attention to)

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Your time is precious. To succeed in business, you must make smart decisions about using your time, and that includes the time you spend on financial …

FeaturedMoneySmall Business

Employee theft: Why it happens & how to deal with it

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It’s deeply personal. Discovering employee theft can be infuriating. After all, you hired, trained, and trusted the worker to help you grow your business, and that …

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Pro tips for managing your cash flow

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If you could receive customer payments faster, how would your business improve? Many small businesses struggle with cash collections, and finding enough cash to operate each …

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How workers compensation costs impact company profitability

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Do you know the true cost of operating your business? Many business owners – even people with years of industry experience — don’t fully understand the …

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What is job costing and how can it boost profits for your small business?

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If you can’t identify all of your project costs, how can you determine the profitability of the engagement? You can’t. Company owners that conduct business on …

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Best practices to help your business avoid tax fraud

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As a business owner, you may find it increasingly difficult to file an accurate tax return. The tax code is complicated, and it’s not unusual to …

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Does your business need a virtual CFO?

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How much help do you need to manage your business? The answer will change, as your company grows and becomes more complex. Many businesses hire experts …

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How much is your business really making & spending?

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If you can’t answer this question with hard numbers, then you don’t really know. The most successful companies have systems in place to make sure that …

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How to prepare for the dry spell in your small business

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Twin Lakes Tree and Lawn Care 2019 Budgeted Income Statement Sales $200,000 Cost of Sales Materials $40,000 Labor $70,000 Total Cost of Sales $110,000 Gross Profit …

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9 common sales tax errors you didn’t know you were making

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Running a business requires dozens of decisions each week and requires owners attention to stay on top of day-to-day operations. With all of the work business …

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Business health: How much money are you really making & spending

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If you can’t answer this question with hard numbers, then you don’t really know. The most successful companies have systems in place to make sure that …