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Great things in business are never done by one person. They’re done by a team of people. We have that dynamic group of peoples

What Is a Fractional CFO, and Do I Need One?

July 8, 2024

Successful small-to-medium-sized business operations depend heavily on efficient financial management in a changing environment. These businesses need highly skilled financial expertise because, as they expand, their financial requirements often become increasingly complicated. This is when the role of a fractional CFO becomes relevant. Fractional CFOs are becoming increasingly popular among entrepreneurs because they

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How Do You Pay Yourself From an LLC?

September 21, 2022

A common question that business owners ask is: How do you pay yourself? Depending on your business entity type, the question may be: How do you pay yourself from an LLC, sole proprietorship, S corps, or C corps? Typically, you pay yourself from an LLC through an owner’s draw. However, it depends on

How to Create an Effective Invoice and Get Paid Faster

August 5, 2022

Are you trying to figure out how to create an invoice? With about 61% of most payment delays being due to billing issues, you don’t want to fall in the same pit as the rest. In fact, you want to get paid as soon as possible for the goods or services you provide.

The Top 8 Expense Trackers for Small Businesses

November 19, 2021

Tracking business expenses is one of the smartest things you can do to take control of your company’s finances. With better organization, you’ll find that your business is more streamlined and profitable, and you’ll be dealing with fewer headaches when tax season rolls around. If you ever find yourself facing an IRS audit,

How to Choose the Right Software to Simplify Your Real Estate Accounting

June 25, 2021

Editor’s Note: This post was originally published in June 2018 and has been revamped and updated for accuracy and comprehensiveness. Let’s face it, bookkeeping for a business in the real estate industry is complicated. That holds true whether your niche is sales, management, construction, or tax and legal services. Unlike some other types

A restaurant with patrons|An employee hads a customer their food order.

How Your Small Business Can Prepare for Florida’s Minimum Wage Increase

June 14, 2021

In recent years, we’ve seen a reopening of the debate over minimum wage. Advocates are currently pushing for an increase to $15.00 per hour by 2026, with the door open to possible increases in the years after that. If you’re a worker, this is good news. A slight bump in the Florida minimum

Best Small Business Invoicing Practices

May 28, 2021

Is getting people to pay their invoice balance a challenging part of running your own business? You are not alone. According to a report in Entrepreneur, on average, small businesses had $84,000 in unpaid invoices. Waiting weeks and sometimes months for the checks to arrive and managing cash flow in the meantime can

Bringing Home the Bacon: A Profit Growing Guide for Restaurateurs

May 14, 2021

Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. It’s no secret that the restaurant business is tough, even in the best of times. Really tough. Even before the COVID-19 shutdowns, industry analysts estimate the failure rate for new restaurants in the

How to Change from an LLC to an S Corporation

May 10, 2021

Remember back when you had to decide on a name to register your new business, forming a limited liability company—LLC? Now your small business has grown up thanks to your hard work and dedication. You may have outgrown your current legal status and it’s time to change from an LLC to S Corp

How to Track Deferred Revenue for SaaS Businesses

January 13, 2020

Subscriptions are the most important revenue stream for software-as-a-service (SaaS) businesses. Yet many accountants don’t correctly record that revenue in the company’s books. This makes it difficult to see your true financial position and make informed decisions. What Is Deferred Revenue Say your customer pays you $6,000 for a 1-year subscription. Instead of