Did you start your own business and find you’re left with a lot less in your pocket than you anticipated? Stressed over finances? You’re not alone. The total debt of American non-financial corporations as a percentage of GDP has reached a record high of 73.3%. The Economist The trend trickles down into households. Americans have racked up another astounding spending [...]

Small Business Tax Tips for 2018

Small business and personal taxes are due at different times of the year. Tax day this year - for individuals - is April 17th. Why? April 15, 2018, falls on a Sunday and District of Columbia Emancipation Day will be observed on Monday, April 16, 2018. Small Business Tax Calendar For business? Well, are you a Corporation or LLC? Your [...]

Balance Sheet 101: How to Read it and What it Means

The balance sheet is a snapshot of your company's financials at a given time, usually on an exact date. This date may be at the end of a month, end of a quarter or end of the financial year as you define it, say, December 31, 2016. Therefore, the financial position of your company is illustrated in a net worth [...]

P&L 101: Top Line, Bottom Line, What Does it All Mean?

What is P&L? As a business owner or financial manager, the performance of your company and financial health typically relies on 2 important financial statements: Profit and Loss or P&L Statement and Balance Sheet. Therefore, this month we will blog about both statements to give you the 101 on each one. The P&L is based on a simple mathematical calculation: [...]

Financial Management Part 2: Analyzing Actuals

Financial Management Forecast vs. Actual Expenses: Mitigating Risks In Financial Management Part 1: Budgeting, we talked about key resources of effectively managing finances for a business organization. Most noteworthy, to tailor a budget based on the business forecasts. In Financial Management Part 2: Analyzing Actuals, we will cover how to track the actual numbers against the planned ones. This helps [...]

Financial Management Part 1: Budgeting

Businesses can attain financial sustainability and grow at a healthy rate. Budgeting must be done beforehand to plan for expected future revenues and expenses. With budget planning, businesses must document all the functional domains of the operation. Plan business finances and make optimum use of the financial resources at your disposal. Then you will gain maximum profit, efficiency, and sustainability. [...]