Category

Bookkeeping
11
Dec

Important Tax Dates

Important dates for taxes are found below. Making timely estimates based on accurate data is important to your cash flow and business.  By having accurate, up-to-date information, you can make a better estimate for your taxes.  If you notice, the Quarterly Tax Estimate to the IRS is cumulative of the entire year’s data.   If you...
20
Nov

STOP MIXING PERSONAL AND BUSINESS FINANCES

Many have written about co-mingling finances, however many business owners continue to do it.  Therefore, you get my version of the lecture.  Stop mixing your personal and business finances.  Some business structures REQUIRE you to keep business and personal separate, and while this may seem obvious, it is practiced less often than you’d expect.  Today, I want...
Diesel mechanic bookkeeper professional
06
Nov

Who is doing your books? A bookkeeper?

When a business starts out, the owner tries to control costs by doing everything themselves including being the bookkeeper. This can result in someone unqualified performing the bookkeeping.  While this may work on the short term, it may be costlier in the run. Let’s take an example of your truck needing an engine overhaul.  What...
self employed owner operator love work
30
Oct

Do What you Love….

  One of the biggest lies of owning your own business per Inc. Magazine is as follows: “Do what you love and the money will follow…. often times, a person’s love for doing something becomes their Achilles heel because instead of running their business, they just focus on delivering the service they enjoy so much,...
23
Oct

Fixed Assets: Is your balance sheet showing an accurate picture of the business’ financials?

Definitions First things first, there are a few terms we need to make sure everyone knows just from the title! Fixed Assets are the things that you own which are the touchy, feely things, for example buildings, vehicles, furniture, computers, fixtures.  The costs of these are spread out over the useful life of the asset...

The Most Common Bookkeeping Mistakes for Owner Operators

Biggest Bookkeeping Mistake I’ve spoken to many owner operators and quite frankly the biggest mistake I have seen is pretending bookkeeping doesn’t exist.  Better yet, “doing the books” once a year for taxes only! Next Most Common Bookkeeping Mistake Tied closely for second is keeping incomplete or outdated books, but at least you tried for...
09
Oct

Free Apps to Save you Money

We all want to keep a little extra jingle in our pockets!  All apps are available on iPhone and Android devices. I know there are a few apps in here I use all the time because of their reliability and user driven information.   This first one is my FAVORITE! GasBuddy: Find Cheap Fuel Report prices,...