Drawing a Check: Deciding When to Put Yourself on the Payroll as a Business Owner Post Thumbnail

Drawing a Check: Deciding When to Put Yourself on the Payroll as a Business Owner

One of the biggest milestones as a small business owner is reaching the stage where you can afford to pay yourself. But this isn’t as simple as initiating a bank transfer. No matter what you decide to pay yourself, you’ll want to follow the guidelines of proper payroll management for business owners. Determining when it […]

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Structured vs. Self-Directed: How W2 Employees Differ from 1099 Contractors Post Thumbnail

Structured vs. Self-Directed: How W2 Employees Differ from 1099 Contractors

Managing your employees is a key piece of running a small business. When you are staffing your company, you will need to determine how to hire, which often involves determining whether to hire your employees as W2s or 1099s. Employees are referred to by their tax filing status, but the real difference for you as […]

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Breaking Boundaries, Breaking Business: Why You Can’t Afford to Blend Your Personal and Business Accounts Post Thumbnail

Breaking Boundaries, Breaking Business: Why You Can’t Afford to Blend Your Personal and Business Accounts

Mixing business and personal accounts as a business owner is unwise because it blurs the line between your professional and personal finances. This can lead to confusion in tracking expenses and income, resulting in messy bookkeeping and potential tax complications during tax season. Separating accounts from the beginning ensures a clear understanding of your business’s […]

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