Archive of Business Finance articles by Arla Wallace

Archive of Business Finance Articles – Arla Wallace
  • Competing with Other Small Businesses Online
    Small businesses are not created equally. The ones that provide the best online experience will keep their clients coming back. Here are some tips for providing that positive experience.... more
  • Retirement for Small Business Owners
    Which retirement savings plan is right for you and your business? Here is some basic information on the types of plans to consider.Which retirement savings plan is right for you and your business? Here is some basic information on the types of plans to consider.... more
  • Growing a Small Business through Lead Generation
    There are many ways to generate leads. Here are some tips for creating your strategy.... more
  • Small Business Creativity and Increased Market Share
    Fostering creativity by your employees can help your business overcome challenging times and grow your business.... more
  • Increased Shipping Costs Post COVID
    Shipping demands continue to rise with consumer spending and carrier issues. Spend time selecting a shipping strategy that helps you attract customers and your increase your profit margin.... more
  • Financial Concerns for Small Business Owners
    Customer expectations are evolving. Brick–and–mortar alternatives can help reduce overhead and start–up costs. Here are some ideas.... more
  • Financial Concerns for Small Business Owners
    Thinking about starting a business? You’ll need to know what financial challenges you may have before cash starts flowing in... more
  • Understanding How Estimated Taxes Work
    Many self-employed small business owners are required to file quarterly estimated taxes. Here is some basic information on what you need to know.... more
  • Lease vs Buy: Which is Better for Your Small Business?
    Consider all the issues before you decide to lease or buy equipment for your business. Here, you will find what to consider when making that decision.... more
  • Lower Costs with Just-in-Time
    If you want to reduce your investment in inventory and working capital, Just -in-Time Inventory may be your answer. Learn the benefits of using this system in your manufacturing.... more
  • Checks and Balances for Employees Handling Money
    A system of checks and balances when employees are handling cash is a must for every small business. Here are some tips for helping you set up your procedures.... more
  • Budgets vs Forecasts: Understanding the Differences
    Budgeting and Forecasting are important to your business. They both have a specific purpose. Learn the difference and how to use them for your business.... more
  • Financing Options Available to Grow Your Small Business
    Depending on your needs, there are several financing options available to a small business. Work with your banker to determine what might be right for you.... more
  • What Small Businesses Need to Consider if Income and Payroll Taxes...
    Will the president’s tax policies become law? Staying abreast of tax law changes, even if you have a trusted tax professional, will help to keep you informed as a small business owner.... more
  • Classifying Cost of Goods Sold: FIFO, LIFO & Weighted-Average Cost
    What method does your company use to account for your inventory? Choosing a specific method directly affects your profit margin.... more
  • Understanding How Payroll Taxes Work
    As an employer, you will be responsible for withholding payroll taxes from employee’s paychecks and providing them to the appropriate agencies. Here are some basic on payroll taxes.... more
  • Ways to Improve the Financial Health of Your Small Business in...
    Facing unique challenges during the pandemic have impacted the financial health of your company. Here are some tips for improving the financial health in 2021.... more
  • Improve Your Cash Flow in 2021
    ... more
  • Planning for 2021 Taxes: 4 Steps to Develop a Tax Calendar...
    Avoid late filing or late payment penalties due to not filing and paying taxes when due Here are some tips for creating a Tax Calendar for your small business.... more
  • Tips for Getting the Most out of Your Charitable Contributions
    The CARES Act made several changes to tax law that incentivize charitable contributions for individual taxpayers and corporations alike. See what they are and how you can use them.... more
  • Growing a Small Business by Diversifying the Customer Base
    The pandemic caused many businesses to diversify. Some diversified their offerings and some found a new client base? Here are some ideas that may help your business determine what is right for you?... more
  • Quality vs Growth
    The growth of a small business is important. The quality provided is what causes customers to continue buying from you. Here are some thoughts on balancing growth and maintaining product and service quality.... more
  • Why Your Business Needs a Budget
    For many businesses, this time of year means “Budget Season”. Here are some simple ideas for creating your budget.... more
  • Adopting New Technology
    Small Business can create a competitive advantage by adopting technology. Technology can help differentiate a small business. Here are 5 Technologies to think about.... more
  • Small Business Recordkeeping & Tax Compliance
    Good recordkeeping is essential for small business owners to monitor the progress of your business. That and tax compliance needs to start when the business is formed. Learn what you should do.... more
  • Small Businesses & the Economy
    Small Businesses have continued to be resilient in the face of the pandemic. Moving quickly and changing as needed, they have demonstrated their contribution to the economy.... more
  • Healthcare for Small Businesses
    The Affordable Care Act offers health insurance options and tax incentives for small business owners. Here is a simple summary of qualifications and options.... more
  • Finding the Perfect Bookkeeper
    Having a bookkeeper is an essential function for your business. Defining what you need and determining the best solution for you does not have to be difficult. Here are some tips to help you.... more
  • Business Loan versus Line of Credit – Which is right for...
    Securing Business financing before you need it is a smart move. Lines of Credit and Term Loans are flexible solutions. Learn which one may be right for your business.... more
  • Biggest Tax Mistakes of Small Business Owners
    Avoid the mistakes other small business owners make. Keeping good records, knowing how to classify an employee vs Contractor, Filing on time and your legal entity can help you to avoid tax mistakes.... more
  • Lack of Benefits for Small Business Owners
    Give your business an edge over the competition with health and retirement benefits to attract and retain quality employees. Doing this also offers benefits to the owner as well as tax advantages.... more
  • Founder Dependence
    Build an empowered team with well documented procedures, that will enhance the value of your small business and help you and your team navigate the unexpected while you serve in the owner role.... more
  • Outsourcing Accounting Work
    Learn why you might need an Outsourced Bookkeeper or Accountant and the advantages to you as a business owner.... more
  • Cloud-Based Accounting
    With so many advantages such as accessibility, built-in security, and price, it’s easy to see why cloud-based accounting is a great option for small businesses.... more
  • Managing Cash Flow
    Cash flow impacts profits and can be a critical component of success for small business owners. Here are some tips on how to improve your cash flow.... more
  • Debt Collection Best Practices
    Accounts receivables seem to be a big concern for small business owners. Here are some best practices to ensure you get paid.... more
  • Ideas for a Smoother Month-End Close
    An efficient month-end close process increases structure and reduces risk. Here are some practices to improve your month-end close.... more
  • Financial Ratios for Small Businesses
    Financial ratios show what aspects of your business are working by comparing figures. Here are five financial ratios that can improve your business operations.... more
  • Preparing for Taxes
    When it comes to business taxes, the first thing to understand is how the taxes work and what the IRS requirements are so you can stay in compliance.... more
  • Tax-Time Worries for Small Business Owners
    Every small business owner should understand the following six things that can affect the business’s income taxes and overall tax situation.... more
  • Ideas for Smoother End-of-Year Close
    Here are some steps you should take before the end of the year to get your small business ready for tax season.... more
  • Budget Season Ideas for 2020
    For a small business owner, there are many opportunities for growth. Here are three budgeting tips for small businesses.... more