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Separating Personal and Business Expenses - A Must
The commingling of personal and business expenses is an all-too-common mistake many new businesses make. But this can create big headaches at tax time and may lead to a host of other problems ranging from tax audits, to disallowance of valid corporate expenses, to legal judgments. To maintain the viability of your business, even if you're just starting out, differentiating your personal and business expenses is a must. Here are five tips to help you get started.
4 Money Management Tips: Think Small, Save Big
Analyzing long-term trends, cash flow, and cost and earnings projections are key to effective money management for any business. But for businesses looking to move to profitability more quickly, the development and implementation of a few simple money management tips can have a positive impact on the bottom line. Think Small. Little expenses can add up over time and potentially slow business growth. It's important to review business spending regularly.
Top 10 Cash Management Tips for Small Businesses
Cash. For the small business it's a precious commodity, and effective cash management can help any company make the most of what they have on hand. Here are 10 essential tips. 1) Forecast Cash Flow. This is an easy one to overlook—so long as cash is coming in and the books balance every month, why forecast cash flow? But an accurate picture of income and expenditures makes it easy to identify when an invoice hasn't been paid, a bill is outstanding or overall business
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