Credit and debit card payments have become a routine part of doing business. They offer customers convenience and can make it easier for businesses to collect revenue. But that convenience comes with a cost, and for businesses with significant card volume, processing fees can become a meaningful operating expense. A processing rate of 2% or…

Running a business means making financial decisions every day. Is it time to hire? Are prices keeping pace with costs? Can the business afford a major purchase? Why are sales increasing, but cash still seems tight? Your financial statements contain information that can help answer those questions. Being familiar with the accounting concepts behind the…

For many small business owners, the middle of the year is a natural checkpoint. With six months of results on the books, it is when plans made in January meet reality. Revenue, margins, and cash flow are compared against budget, staffing and capacity are evaluated for the second half of the year, customer feedback is…

If you own an LLC, corporation, or nonprofit organization, your state likely requires your business to file an annual report, even if nothing about the business has changed during the year. Although it is a routine compliance requirement, it is also one of the most commonly overlooked. Missing an annual report deadline can result in…