Growing Your Business 

To Succeed in Business one must always keep track of their money. You must bill and collect on a set frequency schedule.
 By using QuickBooks Online you are able to email invoices and collect payment on the spot when you perform the service.  If you are on the go all the time there's an app for QuickBooks Online on your phone or tablet to bill a client as soon as you finish the service and you can process credit card on the spot and get paid. 

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USE QUICKBOOKS TO SAVE TIME

By using   QuickBooks and setting up the automatic bank download, you could save up to 11 hours per month depending on how many transactions you have in your bank account especially using the Quickbooksonline

The system remembers the accounts categories for most of them and will automatically assign it when the download comes in. 

And with posting batch entries you can post several transactions in one click.

We cover all these tips in our group classes or we offer customized classe to suit your particular business needs.

 

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Run and pay employees using the payroll features. You can run and print paychecks in either QuickBooks online or QuickBooks desktop.
Print employees W2 at year end without any stress by using QuickBooks online or QuickBooks desktop.

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Bootstrap to fund your Business instead of asking for Government Grant !

I see so many business dreams die, because the entrepreneur feels somehow getting free money to start a business is their birth rite.

I am here to tell you, the time it takes to fill all those endless papers for the Government could have been used to go to nextworking events, building your website, networking on social media, asking your potential customers to pay a portion of the orders upfront etc.

Spend the time perfecting your product or service to give the best of yourself to your potential customers. When you are genuine your clients and vendors will fund your growth.

When I started, I needed to buy computers, printers, projectors for the QuickBooks seminar with 30 people in a room. I  started with one laptop a filing cabinet and I bought the projector from Dell on an installment payment plan. I had one client who offered to pay his whole year fees of accounting services upfront so I can get all the equipment I needed. That's what I meant to do awesome job for clients and they will fund your growth.

While you are building your business, keep your regular full time job though and do this venture in your spare time. I was upfront with my clients about my vision, they knew I worked full time and will return calls on my lunch breaks and after 5pm and available on weekends. I did this for almost 3 years until I had enough money coming from the practice to pay my living expenses. Then on March 25, 2005 I pouched the clock for the last time. My boss told me, by the way Juliana if things doesn't work out you can come back. I appreciated the gesture, but I knew I was not going back. I once heard , the sailor that sails backwards NEVER sees the Sunset. I haven't had any other source of income since then. The business keeps growing from my own strength
Go on to Succeed.....

 

 

NEW DEADLINE 1099 and w2s

New 1099 filing Deadline is January 31 this year to both the government and the employees and subcontractor’s

If you own your own business be sure to issue 1099 to all individual subcontractors you paid more than $599.99

Employee or subcontractor? That is the Question !!!

Many of us struggle as small business owners in the beginning doing everything ourselves.  And as your business starts growing, you may need help to scale the business.

When you hire help, be sure to classify their role and how you pay them. The employee vs subcontractor is a little tricky so check out the rules for yourself here https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee

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 You can call the IRS and remember they are there to help you. For general questions you don't have to give your name or any information about you.  You may have to wait a little for about 30 minutes to an hour, just put the phone on hold while you perform other tasks.

When in doubt consult the IRS  at Telephone  1 800 829 4933 or treat them as an employee to avoid any issues with the government.