entrepreneur – Page 2 – Savvy Home Office

Why Financial Reporting Is Your Small Business’s Secret Weapon

May 22, 2024

Financial reporting is crucial for small business owners. It involves tracking financial performance through reports and statements, providing insights for informed decisions, trend-spotting, compliance, and future planning. It helps determine profitability, control expenses, identify growth opportunities, and ensure long-term success. Ignoring financial reporting could hinder business potential. … More Why Financial Reporting Is Your Small Business’s Secret Weapon

Common Bookkeeping Mistakes for Small Businesses to Avoid

May 15, 2024

Bookkeeping is crucial for any small business, ensuring financial accuracy and helping make informed decisions. However, many small businesses fall into common traps that can lead to significant issues down the line. Here are some common bookkeeping mistakes to avoid. … More Common Bookkeeping Mistakes for Small Businesses to Avoid

What if I like paper documents?

February 17, 2022

What if I like paper documents?
Ok, you’re a Luddite. It’s a life choice.
So how do you handle your financial paperwork when you buck the cool-kid trend of electronic delivery? … More What if I like paper documents?

My Chaotic Cash Flow

September 23, 2021

Ahh, to be self-employed or run a small business – the freedom, the mental stimulation, the crushing anxiety, and the chaotic cash flow. For some, money coming into the business coffers is either feast or famine. How do you get a grip on your business finances when client payments don’t follow a predictable schedule? … More My Chaotic Cash Flow

Track Your Business Mileage

August 26, 2021

For the self-employed, tracking miles driven for business can generate a significant reduction in taxes. Unless your actual auto expenses are a better deduction, but I’ll leave that debate for another day. … More Track Your Business Mileage

Payroll Scares Me

August 12, 2021

Hopefully, at some point, growth-minded entrepreneurs need help running their business. Maybe they can use contractors for some tasks, but they will need employees when they grow to a certain level.
And employees expect to be paid, which is not as simple as paying a contractor. … More Payroll Scares Me

Commingling Sounds Dirty

July 22, 2021

For the love of the deity of your choice, please keep your business and personal financial transactions in separate accounts. Why am I so adamant about keeping these separate? … More Commingling Sounds Dirty

How much emergency fund should I have?

July 15, 2020

I’m going to answer your question with a question: How stable is your income? More stable income can get by with a smaller emergency fund. Less stable income should have a larger one. Emergency Fund Let me back up a bit and clarify what I mean by ‘emergency fund.’ This is money that you can … More How much emergency fund should I have?

Should I set up my bills for autopay?

June 15, 2020

The short answer is yes. If you can… I love to automate the mechanics of bill paying. This is one of my go-to solutions for clients who want help organizing their finances. However… If you are struggling to pay bills or have irregular income, setting up automatic payments can be problematic. You run a higher … More Should I set up my bills for autopay?

Stay Productive

April 27, 2020

The effects of the pandemic on your financial life may be significant – either now or in the future. Here are two constructive exercises you can accomplish while in the throws of quarantine-induced cabin fever. … More Stay Productive