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Salt Lake City Bookkeeping Blog

Why Small Business Is Important to the Economy

Posted by Joe Mazur on Oct 26, 2016 9:00:00 AM

The mom and pop shops in your hometown may not have as much name recognition as a major corporation like Apple or GE, but small businesses create more new jobs than any other kind of enterprise, according to the U.S. Small Business Administration. The largest multinational corporations count on small businesses to funnel products and services their way. And over the past 20 years, small businesses created 64 percent of new jobs, accounting for 44 percent of the total private payroll in the U.S.

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Topics: Small Business, Business Tips

Planning a Party? Everything You Need to Know about Deducting Entertainment Expenses

Posted by Matt Roberge on Oct 24, 2016 9:00:00 AM

Many new business owners are surprised to learn that it’s perfectly legitimate to deduct the business expenses associated with meals, events, and other entertainment costs on their income tax returns. The fact is that the IRS considers feeding and entertaining clients, business associates, and employees to be a necessary part of running a business – so long as these expenses meet the necessary criteria.

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Topics: Small Business Bookkeeping, Tax Tips, Expense Management

How Reputation Management Drives Small Business

Posted by Joe Mazur on Oct 19, 2016 9:00:00 AM

From a bad Yelp review to securing endorsements on LinkedIn, online reputation management plays a major role in small business growth. Here are some strategies you can use to win the internet by turning the online tide to your advantage.

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Topics: Small Business, Business Tips

How To Find Bookkeeping Services For Your Small Business

Posted by Matt Roberge on Oct 17, 2016 9:00:00 AM

If you are like many small business owners, bookkeeping is probably not your top priority. In fact, I'm willing to bet that you don't like the task of bookkeeping at all. I am sure that, for some, the word even makes you cringe.

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Topics: Bookkeeping Services, Small Business Bookkeeping, Outsourced Bookkeeping Services, Bookkeeping Service

Bookkeeping for Small Business Owners

Posted by Joe Mazur on Oct 12, 2016 9:00:00 AM

From running payroll to tracking down receivables and calculating the value of inventory, ask any small business owner about bookkeeping and you’ll probably hear plenty of complaints. But learning basic accounting best practices is a great way to keep your books ready for potential investors and the IRS, if they should ever come calling.

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Topics: Bookkeeping Business, Small Business Bookkeeping, Small Business

Why You Should Sell Retail In A Health And Wellness Business

Posted by Matt Roberge on Oct 10, 2016 9:00:00 AM

We have heard it and we know it: In any health and wellness business, retail can and must be an integral part of our revenue stream. Yet somehow, it always seems to be off-target. We hear that providers don’t want to “sell.” We hear that customers can buy these products cheaper and easier online. So what do we really need to change?  

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Topics: Health And Wellness Bookkeeping, Yoga For Business, Growth Coach

Differences Between Service and Product-Based Businesses

Posted by Alex Viau on Oct 5, 2016 9:00:00 AM

Sure, a product business sells stuff and a service business sells useful labor. But beyond this basic definition, product and service business owners differ widely in how they sell and how they manage their enterprises. Learn more about the key differences between product and service businesses, and examine your own practice to identify areas where improvements are necessary.

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Topics: Service Based Business, Service Business, Product Based Business

Why Hiring Matters To Every Small Business

Posted by Matt Roberge on Oct 3, 2016 9:00:00 AM

As a small business owner, the biggest challenge I underestimated—in terms of both difficulty and importance—was hiring. The reality is that hiring matters to every small business

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Topics: Small Business Growth, Small Business Coach, Hiring, Growth Coach

Tips for Managing Employees of a Small Business

Posted by Joe Mazur on Sep 28, 2016 9:00:00 AM

When you started your business, you probably didn’t envision yourself managing the diverse personalities and complex relationships of your employees. But keeping staffers happy and fulfilled — and working toward the same goal — is absolutely essential to the success of your business. And although you may never relish your role of chief human resources, you can establish a culture where respect, a strong work ethic and collaboration are the norm.

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Topics: Small Business, sourcing employees

Business Is Unprofitable? Proceed With Confidence

Posted by Matt Roberge on Sep 26, 2016 9:00:00 AM

At some point, your small business may become unprofitable. Maybe not overall, but during a month or a small period of time, you will most likely post a loss.

That can be a stressful situation for a small business owner. When your business is unprofitable, you have a decision to make: give up or proceed. Passion and the desire to succeed will push most business owners to proceed, but they often do so with hesitation.

When your business is unprofitable, here is how you can proceed with confidence.

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Topics: Financial Forecasting, Small Business, forecasting, business venture, business investment