While profit vs cash flow may appear synonymous, they operate on different wavelengths within a home service business.
Profit & Tax Blog
5 Things to Calculate Before You Change Pricing In Your Service Business
Before you change pricing, it’s essential to calculate a few things to ensure that your business can remain profitable. Here are the top five things you should calculate before you change your pricing,
How To Create Cash Flow Generating Assets in Your Service Business
Recurring income can create cash flow-generating assets in your service business. This will help your profits to continue to pour in while eliminating stress about payroll, especially during the slower season.
Five Key Performance Indicators (KPI’s) You Should Be Tracking In Your Service Business
As a home service business owner, there are five key performance indicators that you should monitor to ensure the success of your business.
Tracking Trends in Your Home Service Business
Quite often you are so focused on the NOW, today and what sales are booked for the next week or so. While it’s important to have your finger on the pulse of what is happening NOW, you also have to look at the past to predict and be prepared for the future. That means looking at patterns and tracking trends.
8 Ways To Maximize & Increase Profits In Your Service Business
There are a TON of areas in your business that affect your bottom line and profit percentage. Here are 8 ways to increase profits.
FILE ON TIME EVEN IF YOU CAN’T PAY
Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the total amount due to avoid a penalty for not filing taxes, but if you can't, there are several options. Let's take a look at a few scenarios: An individual taxpayer owes...
Deduct 100 Percent of Your Employee Recreation and Parties
When you know the rules, you can deduct employee recreation and parties. The IRS says that the following types of entertainment qualify for the 100 percent employee entertainment tax deduction: Holiday parties, annual picnics, and summer outings Maintaining a swimming...
4 Key Strategies To Eradicate Business Debt
One of the quickest ways to sink any business is to acquire debt. Learn how to eradicate business debt with these four key strategies.
10 Ways To Increase Cash Flow and Maximize Credit for Your Service Business
To increase cash flow is the lifeblood of your business. The amount of cash you have on hand each month can either make you feel ‘the crunch’ and bring on stress or allow you to feel like you can breathe easy knowing you are successfully working on your plan.