Tag Archives: Small Business

13 Nov 2016
Importance Small Business

Reasons Why Small Businesses are so Important

You might own a small business and feel overwhelmed by the multinationals you’re competing with.  It can be easy to think that your company doesn’t have a large impact on your country’s economy.  The truth is, however, that small businesses are actually the backbone that the economy is built upon.  Almost half of the total
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29 Jul 2016
Hiring your Child for your Business

5 Reasons Why You Should Hire Your Child For Your Small Business

Wondering how to keep your kids busy during the summer months? If you’re a small business owner with older children, you might want to think about bringing them onto the payroll. While we’re not advocating for making your kids work 40 hours a week, a little time at the family shop or office can be
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27 Jun 2016
Overtime Rule

What Is the Latest Overtime Rule, and How Does It Affect Small Businesses?

This past May, the Obama administration outlined new policies affecting overtime pay for employees. Unlike other employment laws, many of which provide exemptions for small business workers, the new ruling will apply to almost all employees in the U.S. As a small business owner, understanding the particulars of the law is crucial to protecting your
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31 May 2016
Cash vs Accrual Basis Accounting

Cash Basis vs. Accrual Basis Accounting

Small business owners have to make numerous decisions, not the least of which is determining the best method to handle accounting. Typically, businesses use one of two principal accounting methods, known as cash method and accrual method a (also referred to as cash basis and accrual basis accounting respectively).  IRS defines an accounting method as a set
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