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Business Formation – The Bigger Picture of Business Location Decisions

In my previous business formation article, I discussed a Thumbtack Survey on the best States for a small business. Today I would like to follow up on that theme of business location decisions with another look at what makes one State more or less attractive than other States to business owners. I would like to first discuss a report from the Manhattan Institute concerning the Great California … [Read more...]

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Before Payroll Part 5: Setting up Payroll Accounts in QuickBooks

Today I will help you work on setting up Payroll Accounts in QuickBooks. It is  important that you have all of the payroll liability and expense accounts set up before running your first payroll so that you can track your liabilities and expenses correctly. Getting everything set up right beforehand will help save you trouble down the road as you accrue and pay liabilities. I will help you … [Read more...]

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Accounting Basics Part 4: How to Enter Transactions in QuickBooks

So you have QuickBooks, you have set up the Chart of Accounts, and entered your Opening Balances; now I will share with you how to enter transactions in QuickBooks. You will need to have your bank accounts, credit cards, Paypal account, and loans entered into your Chart of Accounts before you go forward with this, so make sure you are caught up to speed with my previous posts. We will review how … [Read more...]

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Before Payroll Part 2: Cost of an Employee

Today I would like to continue on with the Payroll topic. Last week we discussed rethinking the need for an employee along with some alternatives such as employee automation. Today I would like to discuss the full cost of an employee. If or when you decide you need an employee, the next step is to figure out what your bottom line costs will look like. To help you think through the full cost of an … [Read more...]

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Business Formation – Personally Funding your Startup

Last week we discussed the mindset for starting a business, and this week I would like to touch on an important step toward starting your business - personally funding your startup. More specifically, I mean preparing financially to transition from employee to self-employed including remaining an employee while you build your business, saving, cutting expenses, and reinvesting capital in your … [Read more...]

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