Creating a well-designed and practical compensation package is one of the essential tasks for any business owner. This article explores seven steps to help you build a competitive base compensation package to ensure you attract the best talent you can afford while protecting your business by keeping it profitable.
Category: Finance
How To Invest In Real Estate Using Business Profit
This article explains the tax savings from owning real estate, why you should NOT buy rental real estate in your business, and what the ideal structure is to maximize your tax savings.
How To File And Pay Your Taxes with Confidence.
Building a business is difficult enough, and filing and paying your taxes is a confusing process. Whether you’re a new business owner or have been operating for years, there’s always something to learn when it comes to taxes! In this article, we’ll outline the process for filing and paying your taxes, so you can feel confident and prepared when Tax day rolls around.
How To Maximize Your Business Vehicle Deduction In 2022
Buying a Tesla at the end of the year to lower your tax liability will probably be the worst dinner party tax advice for an unsuspecting online business owner.
How To Pay Yourself: S-Corp Salary Or Distributions?
One very confusing concept for new business owners is determining how to pay yourself from your business. This article covers the ideal breakdown between S-corp salary or distributions for business owners.
How Agencies And Coaches Can Increase Business Profit Using Growth Cycles
Are you struggling to grow your agency, coaching, or creator business? If so, you might be unfamiliar with how to use growth cycles to grow! Do ANY of these statements resonate with you as you’re trying to grow your online business? “I have no idea how my business is performing.” “I don’t know why I…
True Profit: Why it’s Critical to Calculate Accurately & How to Avoid the Profit Potholes.
Profits are often considered the pinnacle of business success. After all, what would a business be without profits? Despite this fact, it’s surprising how many business owners fail to calculate their profit accurately.
How To Measure Your Cash Collections: The Catalyst For Growth
One of the most significant challenges we see with our clients is the inability to measure and track whether we are improving our processes and systems of collecting outstanding receipts.
How To Overcome Business Constraints Throughout a Business’ Lifecycle
As an entrepreneur, have you ever hit a ‘growth wall’? t’s puzzling, as the strategies that once worked to accelerate your business, and solve your growth obstacles are no longer effective. You’re left feeling stuck, overwhelmed, and frustrated. To understand how to conquer these growth obstacles, we need to dive into what they are and how they operate.
A Crash Course in Accounting for Online Entrepreneurs
Every entrepreneur needs to understand basic accounting in order to responsibly grow their business. Without understanding basic accounting and what the numbers are telling you, it’s impossible to answer simple questions like: How much should I pay myself? Can I hire another contractor? Are my client projects profitable? Do I have enough working capital to…