Self-Employment: Time is Money

     What do they say about knowledge, time and money? Time is money, power is knowledge.  This is a guiding principle for many of the small business owners I know and work for.  As such a hands-on entity and resource for your own growing business, you know the pressure of time and often can’t find enough of it in a day.  Which is why when it comes to tax time, many of you go into a frenzy.  Why?  Because you feel powerless because you don’t know what you should do or should’ve done to prepare for the inevitable April 15 deadline and you know you’ll lose money because you don’t have the time to research all of the credits and exemptions your business qualifies for.  

     Saving you thousands of dollars from the tax man is what I do for a living, which means your business has the best growth it possibly can.  By keeping you organized, I know the ins and outs of what you can qualify for, as well as advise you on the best times to make certain investments back into your company.  What’s the best part?  My fee can be a write-off for you.  I save you money by saving you time and I give you the power to navigate the tricky tax waters through my knowledge of all things tax-related. 

 To use industry lingo—  the bottom-line is, if you’re a small business owner, finding an accountant is one of the smartest business moves you can make this year! 

Small Business on the Rise

     Small business is booming.  In recent years access to credit and hiring capabilities have improved.  While trends are not as strong yet as they were in 2014, the first positive trend for this year happened in March.  There are many reasons why this might be, but a lot of people are worried about the effect of the Affordable Care Act when considering hiring more staff.  

     Businesses need to figure out where their employees fall when it comes to providing coverage.  Small businesses employing over 99 people are required this year ( last year it was mandatory) to file forms at the end of the year and smaller business sizing between 50-99 employees still have until 2016.  Most healthcare costs for businesses have gone up over the past year and that means hesitation when looking to hire that 50th person.

     While there are ways to decrease liability, such as hour cuts, this change in health care structure is making sweeping changes in the small business arena.  Know what category your business falls in and prepare for the upcoming changes.  While it’s not mandatory until next year for businesses with less than 50 employees, doing a practice run for healthcare expenses this year could be to your benefit.