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. Subscription Based Services One approach is to offer...
As a home service business owner, there are several key performance indicators (KPIs) that you should be monitoring to ensure the success of your business. Here are some important numbers to keep an eye on: Revenue: This is the total amount of money your 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...
Everything you’ve been taught about profits is likely this. Revenue – Expenses = Profits You bring in sales, you pay your bills and whatever is left over is what you can take home (or put back into your business). You may even think – it ‘is...
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...
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...
