In this article, we discuss excise taxes, what they are, how they work, and who pays them. Read on to learn the fundamentals of excise taxes. What Is an Excise Tax? According to the IRS, excise taxes are “imposed on various goods, services, and activities.” That definition is vague, so let’s understand exactly what an […]
What’s Your Business’s Fallback Plan?
Like many small business owners, you may plan on working until you are ready to retire. And, once you reach that point, you may expect to sell your business and live off the proceeds. Or, you may have partners or children who can keep the business operating once you are ready to step away. However, […]
Tips for Relocating Your Small Business
Is your business thinking of moving to a new location? No need to worry, we got you covered with some tips for the journey! Why are you relocating? It’s important that you first consider why it is necessary to change your location. If you’re certain about the move, you should be able to fully answer […]
How Accounting Can Help Your Business Succeed
If you think your accountant’s skills are only helpful at tax time, think again. As a small business owner, accounting is vital to your business in various ways you may not realize. A trusted accountant can be one of your top allies in establishing and maintaining a successful business. Read on to learn our top […]
Financial Analysis for Your Small Business
Comparing a business’s key financial ratios with industry standards and with its own past results can highlight trends and identify strengths and weaknesses in the business. Financial statement information is most useful if owners and managers can use it to improve their company’s profitability, cash flow, and value. Getting the most mileage from financial statement […]
Mentoring the Next Generation to Take Over the Family Business
Many owners of small businesses would love to see a family member take over their business. If you have children, grandchildren, nieces, or nephews that you think might be interested in running the business in the future, you can help lay the groundwork for that potential transfer of ownership in several ways. Use the following […]