Dear Small Business Owner.
It’s the end of the calendar year and yes, I know you’re all caught up in the holiday season but I’d like to take this opportunity to remind you that, very soon, you’ll be needing to deal with me – your money. Whether you earned a lot of me last year or lost me, the fact of the matter is that, as a small business owner or even a contractor, you really need to keep a good handle on me.
So, as we draw to the end of the year, allow me to remind you of a few critical details because, as you know, I can make or break your business. And since I know you’re busy, I’ve taken the liberty to gather together a few reading resources for you to make your life easier.
TAXES
Here’s a great primer entitled How to Reduce Your Small Business Tax Bill from Inc. online (note there are multiple pages to this article). Full of great end-of-year reminders and tips to reduce your tax bill.
Or this easy-to-digest list of 2009 Year-End Tax Tips. Again, some great reminders and some things you may not know!
The Most-Overlooked Tax Deductions. This one deals with personal taxes, too, so be sure to give it a read.
ORGANIZING
So maybe you haven’t done the best job keeping track of me last year – 2010 can be a new year. Here’s a great article offering tips along with applications to keep you organized - written primarily for business travel.
CASH FLOW
And since we all know cash is king, here’s are a few great articles about calculating and improving cash flow. This first article from BankRate.com is a great primer on calculating and managing cash flow. If you don’t currently use a cash flow document in your business, you MUST. This article will get you started. It’s a simple but often overlooked tool.
This next article from PowerHomeBiz.com is about improving your cash flow. It’s written from a home business perspective, but its lessons are cross-contextual.
So there you have it – your end-of-year assignment from yours truly. Oh, and put in a call to that CPA , would ya?
Happy Holidays,
Your Money
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