How to Read Your Financials: The Step-by-Step Method
In today's complex financial world, understanding your company's financials is essential for making informed decisions and assessing your organization's financial health. Financial statements serve as a window into the financial performance and position of a business. In this blog, we will demystify the process of reading financial statements, empowering you to navigate through them with confidence.
Tax Deductions Small Business Owners Shouldn’t Forget
In these turbulent financial times, any small business owner or independent contractor can agree that missing out on a single tax deduction can be disappointing and insanely infuriating.
But when it comes to claiming tax deductions correctly, it’s not easy to do so without an intensive accounting education. But fear not, because I have some not-so-secret tax deductions small business owners shouldn’t forget.
What Is a Schedule C and Who Should File Them?
If you’re a small business owner or independent contractor filing taxes this year – this one’s for you! There are a lot of fundamental tax forms businesses need to complete each year, and a Schedule C may be one of them.
A Simple Guide to Freelancer Taxes
Ask any freelancer their most dreaded business task - I bet it’s taxes.
When you are an employee working for someone else’s business, income taxes are not fun but they are much simpler. Your employer handles pretty much all of it - calculating your amount due, collecting it from your paychecks, and sending the cash off to the IRS. You really only deal with it come April tax return season.
Business Goal Setting for the New Year
As you counted down on New Year’s Eve, you may have already had your big list of personal goals you wanted to achieve in 2023: eat better, move your body more, and spend more time with the fam.
How To Not Hate Tax Season
It is said that the anticipation of death is worse than death itself. This is certainly the truth when it comes to preparing for tax season, and the actual process of filing your taxes. If this sounds like you, don’t worry!
What’s the ABC Test for Independent Contractors?
The line between independent contractor and employee is often blurred. Between the confusing state laws and the ever-changing IRS definitions, it can be a real puzzle to figure out what you should be classified as!
Top 9 Apps for Independent Contractors
Whether you are jet setting on a tropical vacation or just don’t want to get up from the couch, being able to check your email and do some work from your phone is a godsend. And no one feels that harder than independent contractors!
How to Give Back During the Holidays as a Small Business
Giving back to our community is something we are BIG about here at Tatum Accounting. And now that we are in the prime holiday months, there is no better time to focus your company’s extra time on bettering society.
4 Payment Processing Providers We Recommend
It’s basically impossible to run a product-based business these days without accepting credit card payments from your customers.
You want to accommodate all of your customers, but a lot of these payment processing providers charge crazy fees for each transaction!
Employee vs. Contractor Taxes
As a business owner, it’s such an exciting time when you get to hire your first employees. You’ve really hustled and grown your service-based business to a small empire. And now you need some help to take it to the next level!
How to Create A Pricing Strategy Around Black Friday
As a savvy entrepreneur running a product-based business, you need to be tailoring specific pricing strategies for this big shopping event. In this article, I’ll lay out exactly what you need to know on how to create a pricing strategy around Black Friday.
Are We Entering a Recession? My Advice.
Does this sound familiar? You're a female entrepreneur who hustled hard to get your business off the ground and then the 2020 pandemic hits. You faced some big struggles but were able to pivot and make the most of the tough situation. Your business is back on its feet and flourishing!
5 Apps to Help You Track Inventory
Product-based businesses need to have a solid inventory management system in place to make sure you have ample product on hand to meet your sales, but also so you know you’re turning a profit on those products.
5 Tips For Tracking Inventory
If you make and sell products, you know one of the biggest headaches is managing your business’s inventory. Making sure you have all the right items in stock at the right times can be a full time job on top of running your small business empire. These five tips for tracking inventory will help you ease the stress of managing your product-based business.
5 Things Product-Based Businesses Should Prepare Ahead of The Holidays
Wait…the holidays? It’s August!
Yup, if you own a product-based business you are likely beginning to put together your operations for the busiest time of the year. Whether that means reviewing your budget or analyzing your inventory, there is a lot to be done.
3 Areas Business Owners Neglect When Growing Their Business
Another one! You just landed another sale and that is one more than you did last month. Your business is doing great and growing upwards. As the sales come in you start making plans for even more growth. Maybe you bring on another set of hands or upgrade that computer - thank goodness too, the keyboard was missing the “M” key.
5 Reasons You Should Save Your Receipts
As a military spouse there are plenty of challenges we experience. Long deployments, being far away from family, and the constant moves are just a few of the things we have to overcome - but it’s not all bad! There are silver linings to everything and the constant moves provide plenty of opportunities to purge!
Why You Should Be Paying Estimated Taxes & How to Calculate Them
As a service based business owner, you likely pay close attention to all the financial aspects of your business. Income and expense numbers make up a significant portion of company financials, and also are instrumental in calculating estimated tax payments. In this article, we will discuss why you should be paying estimated taxes and some methods to calculate them.
How to Price Your Products/Services
As a busy female entrepreneur, one of the most important things to do is correctly price your products or services. Correctly priced products can maximize profits and give owners and managers insight into how the business is performing against past results and current competitors. In this article, we will discuss several methods to correctly price your products.