How Continuous Audit Tech Will Save Your Business Money Now
Brigade Bookkeeping
by Brigade Bookkeeping
2y ago
It happens all the time. There’s a gym membership you’ve been meaning to cancel. You still subscribe to streaming channels that you don’t watch anymore. And slowly but surely, you are losing money and creating a budgeting nightmare. All those unnecessary recurring charges add up– yikes! Now imagine this scenario in the small business setting. What happens when those charges add up among several employees–or even former employees? An even bigger budgeting nightmare. When unnecessary charges go unmonitored, they can evolve into a huge problem. If you suspect there’s even a small amount of t ..read more
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7 Ways a Financial Audit Will Help Keep Your Business on Track
Brigade Bookkeeping
by Admin
2y ago
Success starts with a good financial strategy. It is part of the enduring conflict between working in the business and working on the business. Small business owners focused on creating and delivering their product or service may neglect the strategic activities that keep the company healthy and growing. Things continue along with happy customers and busy employees, but you realize something is out of sync when you review profits and losses. It’s an indication that it is past time for a full financial audit. Audits are not just for when your business is approaching a lender, getting ready to t ..read more
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The Art of Responding to RFPs
Brigade Bookkeeping
by Admin
2y ago
Does your small business gain new customers through Requests for Proposals (RFPs)? Maybe you’re in the running to win new business or exploring more work with an existing client. Unfortunately, RFPs can be frustrating when they take away time from your other responsibilities. Rather than being frequently disappointed or burned out by responding to them, follow this advice. Before you respond Take a breath. Don’t commit your time or the teams’ resources to craft a response to an RFP until you have considered the situation’s realities. Don’t get hot if the prospect is lukewarm. “Just send me a p ..read more
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Hiring Your Kids: Payroll Considerations
Brigade Bookkeeping
by Admin
2y ago
Small business owners who are also parents often look forward to the time when their kids are old enough to learn their trade. Maybe you’re planning to introduce them to the family business through a summer gig, a regular part-time thing while they’re still in school, or a one-time opportunity to help with a big project. However, the IRS wants you to remember that wages paid to children—whether they are yours, a relative’s, or any minor—need to be done in the right ways. Here’s what to keep in mind when you put kids on the payroll. Hire children the right way The IRS closely watches when a par ..read more
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5 Ways to Find the Employees You Need Now
Brigade Bookkeeping
by Admin
2y ago
As we recover from the pandemic, all kinds of businesses are having trouble recruiting and retaining workers at all skill levels. Creativity is needed to encourage applications and retain staff. If this describes your business, try a few of these recruiting strategies. Boost pay: If a person can switch from a $12 an hour to a $15 an hour job, no specialized training required, they likely will. Your definition of “great pay and benefits” may be outdated for the times. Offer bonuses: Workers want to know that you will keep them employed. Bonuses should signal you can’t wait for them to start an ..read more
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Grow Your Business with Data, Feedback & New Ideas
Brigade Bookkeeping
by Admin
2y ago
How’s business? Do you feel like things have changed for the better (or worse) since the pandemic? Maybe you are stuck in neutral? Continuous growth and improvement can be a struggle for entrepreneurs. However, if you can find good information on where opportunities lie, you can take your business in the right direction. So, what exactly IS the problem? You may have a few suspicions about what is holding you back. You’ve likely been triaging the symptoms for some time. However, it’s time to stop going with your gut and ask the people who know you best: your customers and employe ..read more
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Depreciation Deductions Can Boost Your Tax Return
Brigade Bookkeeping
by Admin
3y ago
Small business owners want to take advantage of every tax break they qualify for. So, one deduction that should be on your radar is depreciating assets. Depreciation can provide valuable income tax deductions that save small business owners thousands of dollars each year. How depreciation works  At tax time, the IRS will tax a business on its net income. Your net income for the year includes accounting for all costs of operating your business, including operating expenses and investments. However, your business is entitled to depreciation deductions. When calculated, they lower ..read more
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Are You Prepared for a Financial Emergency?
Brigade Bookkeeping
by Admin
3y ago
Starting a small business, keeping it running, and being ready for unexpected yet inevitable catastrophes is no simple feat. However, if you review the business emergencies you may face, and then prepare accordingly, you will have a better chance at success through the storms. A good plan involves more than just having adequate funds on hand. It also requires establishing important business relationships with professionals who can help you navigate a tough stretch of road. Use this list to get started. How much to set aside A good rule of thumb is to save at least three months’ worth of busine ..read more
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Childcare For Your Empoloyees: It Matters More Now Than Ever
Brigade Bookkeeping
by Admin
3y ago
The pandemic forced employers of all sizes to reconsider the importance of employees having childcare support. The double whammy of working parents and kids stuck at home decimated presumptions about manageable accommodations. Burnout is still taking its toll as we emerge from the crisis. The good news is, even small businesses can support their caregiving employees with helpful benefits. The key is to offer truly effective ones. Why it matters Consider the impact the pandemic had on families at home with parents who had to be employees, teachers, and caregivers simultaneously. The pandemic pr ..read more
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Reclassifying Employees, Post-Pandemic: A Cautionary Tale
Brigade Bookkeeping
by Admin
3y ago
As we draw closer to a post-COVID crisis work world, businesses need to determine how or if employees who have been working from home will return to the office. A related issue is worker classification. There can be confusion about reclassification, and I caution all small businesses to pump the brakes before they move forward with any changes. Let’s take a look at why. Pre-pandemic confusion Worker classification before the pandemic was already fraught with confusion. All employers must correctly classify workers under state and federal laws. This means the Internal Revenue Service ..read more
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