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How Corporations Reduce Small Business Taxes

By Business, Tax Strategy, Taxes No Comments

The proper business entity will save you tons on taxes.   Let’s start with why. Why would corporations and LLCs be good for small business taxes? It’s quite simple. If you don’t have any business structure whatsoever, then you are very likely operating a business illegally AND missing out on huge money saving opportunities. (We also have this brief video summarizing why they are important.)…

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How to Implement Profit First [Meeting #1]

By Business, Cash Management, Profit First No Comments

To implement the Profit First system with a new client, we have 4 initial meetings to get everything straight and everyone on the same page. We’ll go through our entire implementation process over the course of 4 blog posts. You’ll know how to implement Profit First for yourself.   Bookkeeping Review   Profit First is only as good as the bookkeeping history. To make the…

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How Have the Top Fitness Industry Experts Pivoted Their Business Because of COVID?

By Business, Crossfit, Microgyms No Comments

A growing crowd amongst the fitness industry believes that fitness will never be the same after COVID.  It’s possible there isn’t enough data yet to make that claim, but there is enough data to know what types of pivots during the crisis ended up being great pivots.  We’ve made connections with some fitness industry experts that are making a splash for the rest of us…

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Bookkeeping 101

By Accounting, Bookkeeping, Business No Comments

Whether you decide to stay inhouse or outsource, you need to know some bookkeeping basics. My goal is to give you a big picture overview of bookkeeping, so you’ll have a foundation to build your business knowledge on. The more you know. (Did anyone catch that reference?)   Bookkeeping is recording every transaction you make for your business in your books. Every cent you spend…

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Bookkeeping – Is it really that important?

By Accounting, Bookkeeping, Business, Cash Management No Comments

What exactly is bookkeeping?   To put it simply and more official sounding, bookkeeping is classifying and recording every business transaction in your books. Your books can be a literal book with pen and paper. Or like most people your books are in a software program like QuickBooks for example. On the surface it seems pretty straight forward, but once you get into classifications along…

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Why Your Business Will Benefit from Professional Accounting

By Accounting, Business No Comments

Note – This awesome post is written by a guest blogger, Chelsea Lamb with businesspop.net.   Have you thought about hiring a professional accountant? If you run a small business, outsourcing your accounting is a no-brainer. Investing in professional accounting services from a company like Incite Tax & Accounting will help you save time and money, avoid tax-time stress, keep your employees happy, and more!…

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