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Quick Guide to 1099-Misc

Guide to 1099-misc A 1099-misc is an income reporting form for businesses. The most common use you will see is business owners using it to report to the IRS if they paid someone to do contract services for their business.  This is called Box 7 “Non-employee...

What taxes do I pay as a Sole Proprietor?

Income Tax, Sales Tax, State Tax, Quarterly Tax? Talk about confusing Often times it is the "simple" questions that can feel the most confusing when it comes to taxes. Today I'm sharing with you the very basics of what and how taxes are paid as a sole proprietor. You...

Employee Versus Contractor

Hiring a team is a big and important step as business owner. Making sure that you are classifying your team properly is even more important. The trend right now in online business in particular is to only use contractors and avoid the "complications" of employees....

Five Elements to a Killer Invoice

Getting paid is a pretty important part of owning your a business, so you want to make sure that it is as easy as possible for your clients to pay your invoice.     IF YOU ARE SERVICE BASED, OR INVOICE FOR PRODUCTS, THEN THESE TIPS WILL GET YOUR INVOICES INTO TIP TOP...

Automating Your Invoicing in Wave Accounting

One of the most important elements of starting and running a business is creating a system for getting paid. There are many different options out there, but one of my favorites by far is Wave Accounting. This is the first in a four-week series going through ways to...

How to Take Control of Your Profit

In order to pay yourself first, you need to focus on planning where and when you spend your business money. If you are constantly buying “all the things” (I’ve been there) and not actually paying yourself, then you are not really in control of your money. Why should you be paying everyone else but yourself? It's time to take control of your profit.

Create your Personal Budget Plan + Freebie

In my last post I talked about making a making a plan for your money. Today I want to focus on the personal side. The reason this is important is because it is the foundation of your finances. You need to know how much money you're going to need each month to meet...

Is Budget A Dirty Word?

Admit it, when you look at your bank balance online or on an ATM receipt, you assume that’s how much money you have to spend. Well, I have news for you, your bank account is lying to you. The days of keeping a ledger at the back of our checkbook are gone (I know who...

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