Are you a small business owner struggling to keep your finances in order? In this episode of the Financial Snickens Podcast, we’ve got you covered with six key strategies to avoid accounting errors and maintain best practices for your company’s financials. From hiring an accountant or bookkeeper to controlling expenses and keeping personal/professional expenses separate, we’ll cover everything you need to know to stay on track financially. Plus, we’ll discuss the importance of choosing the right accounting method and working with a tax planner to ensure compliance with IRS regulations. Don’t miss out on these valuable insights – tune in now!
Key Highlights:
[00:00 - 02:15] Financial Tips for Entrepreneurs
[02:16 - 04:35] Why Hiring a Competent Accountant is Worth the Investment for Your Business
[04:36 - 08:55] Essential Tips for Small Business Owners to Manage Finances Effectively
Key Quotes:
“When you start a business, the first thing you should do is open a business checking account.” - Alisa McCabe
“Control your expenses.” - Alisa McCabe
Resource Mentioned:
Link to more information from the IRS on the difference between employees and contractors: https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee
Learn more by connecting with me through LinkedIn, Instagram, and Facebook. Head to our website and click on the Let’s Talk button http://www.firststepsfinancial.com
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