Payroll is critical for businesses and a pain point for most small business owners. Think you can handle payroll yourself? Sure, but below are five reasons why you should outsource your payroll if you own a small business. Read on if you want to make strategic business decisions and also keep your employees happy; your #1 asset.
As a business owner, board member or high-level executive, it is important that you understand how to read the financial statements, and know what they are telling you. Financial Statements are essentially a report card for the business and they will tell you how much money is in the bank, who owes you money, and what bills are coming due. The financial statements also tell you how much debt is owed, along with how profitable the company is. Read further to learn more about financial statements.
It’s hard to believe that we are already halfway through the year. With that being said, there are some important financials items you should checkup on, as a lot may have changed since January 1st. Below are a list of 4 actions you should think about and make changes to if necessary.
Ever ask yourself: Where is all of my money going? You might be surprised once you sit down and map out what you spend in a month. On a weekly occurrence, you may think it’s fine to eat out or grab a coffee on the way into work, however if you add up the amount you spent on eating out or coffee in a month, the total amount might surprise you.
Effective January 1st, 2020, there will be a new W-4 Form designed to be more transparent and will ask more straightforward questions, according to the Treasury Department. The Internal Revenue Service is currently redesigning the W-4 Form, which determines how much tax employers take out of your paycheck.