Finance Tips
Pricing your services isn’t just about slapping a number on your offers. It’s part art, part science, and 100% about understanding your numbers and the value you’re delivering. If you’ve ever wondered how to price with confidence or felt torn between wanting to attract clients and actually charging what you’re worth, this guide is for […]
As a business owner, your financial statements are more than just numbers on a page—they’re a roadmap to your company’s success. In our latest YouTube video, we break down the Profit & Loss statement to help you transform financial data into strategic business decisions. Watch the full video explanation here. What is a Profit & […]
If you’re an online service provider, there’s a good chance you’re leaving money on the table come tax season. And we’re not just talking about a few dollars – we’re talking about deductions that could significantly impact your bottom line. Let’s be real: taxes aren’t exactly the most exciting part of running your business. But […]
Let’s dive into a topic that you’ve probably heard about: S-Corporations. This has become quite the hot topic in the online industry, and you’ve probably heard something about how becoming an S-Corp can save you money when it comes to taxes. We’re all about paying as little as legally possible in taxes, BUT it’s important […]
What Is Estate Planning, Anyway? First things first: an “estate” isn’t just a fancy word for a mansion with a moat. In legal terms, your estate is everything you own – your business, your vintage Star Wars collection, your dog (okay, maybe not legally, but you get the idea). Estate planning is simply deciding what […]
Let’s talk about something that’s probably not at the top of your to-do list but should be: retirement savings. But stick with me – this is important stuff that could make a big difference in your financial future. As a self-employed business owner, you’ve got some unique options when it comes to preparing for your […]
As a self-employed business owner, the prospect of welcoming a new addition to your family brings both joy and a unique set of financial considerations. We understand the challenges you face in balancing your thriving online business with your growing family. Let’s explore how you can effectively plan for this exciting chapter while ensuring your […]
What Qualifies as a Business Mile Expense? There are countless ways to deduct business expenses to lower your taxable income and avoid having to pay more in taxes. As a financial support institution, we are passionate about educating our clients about all of their tax deduction opportunities. Are you aware that there are ways you […]
Do You Really Need an EIN? In the world of small business ownership, many begin their journey wondering, “Do I need an EIN?” This is a valid question due to the many fluctuating tax requirements for small business owners. However, maintaining legal compliance is a crucial aspect of business ownership, particularly in the United States. […]
Navigating the Financial Impact of Business Owner Payout There’s no question that an owner of a small business deserves to be paid (just like everyone else). However, there are certain implications to paying oneself as the owner that are worth understanding before writing yourself a check. At 1428 Financial, we believe in helping educate all […]
You’ve probably heard the term reconcile, but maybe you have no idea what it means. To reconcile an account is basically double checking that everything in your accounting software is exactly what is on your bank statements. You are making sure that you’ve included all transactions so that you’re not missing any income or expenses. […]
One of the many areas that makes owning and running a business exciting is the opportunities it gives you to interact with other individuals, contacts, or clients. Whether this be for staff you hire, vendors you order from, or service companies that help you run your business, the relationships and interactions are what make owning […]
As a business owner, it’s important to understand sales tax and the requirements behind setting up sales tax for your customers or clients. But where to start? What is important and what are you legally required to instigate on your products or services? As business sales tax specialists, we aim to provide as much information […]
Business Meal Deductions: What You Need to Know Do you frequently take clients out for a meal? Are you regularly eating out at restaurants as part of your job? Do you provide snacks, coffee, or meals for your employees? If you answered “yes” to any of these questions, you may qualify for business meal deductions! […]
When it comes to your business financials, you want to have a solid understanding of what happens to all the money – both going in and coming out. Sometimes this requires an advanced software system and other times this can be done with simple tracking. Regardless of how you choose to manage your business finances, […]
There’s a myth that business finances are complex because numbers are involved. Do you feel like you shy away from your numbers because “it’s too complicated”? Here’s the truth – you don’t have to be an expert in bookkeeping to have a handle on your finances. That’s where we come in. You can think of […]
I’ve been helping people with their bookkeeping for a few years now and I’ve seen it all. The good, the bad, and the ugly. There are a lot of ways to take care of your books and set yourself up for success, but there are also a lot of mistakes that can harm your business […]
If you’ve been around the business world for longer than a few minutes, you’ve likely heard the terms “bookkeeper” and “accountant” thrown around. Many believe they are synonymous, but the truth is, they are not! It’s important to understand how a bookkeeper’s and an accountant’s roles differ when it comes to supporting your business. While […]
Profits matter more than sales, imagine that! Here are a few common questions we get on the subject: Why is it important for a business owner to know their finances? You need to know where you are to know where you’re going and reach your goals. Once you know your numbers, you can make adjustments […]
If you’re here, you’re probably a new business owner. Congratulations on taking the leap! Now I know firsthand just how overwhelming it can be to think about business finances and all the things you need to do. Start off with these foundational principles and you’ll be well on your way to successfully managing your business […]
If you’re a small business owner, you’ve probably heard the term 1099. And you might fall into one of two camps – yeah, yeah, I know, I take care of those (or my bookkeeper/CPA/tax preparer does), or what the heck are they and do I need to file them??? If it’s the latter, today’s post […]
So, you’ve decided to start a business and know that you should have a business bank account separate from your personal account (Props to you 🙌🏻) But after doing a Google search (maybe that’s how you found us!), you’re more confused than ever. Below are our tips for choosing the right bank for you. Our […]
When you first start your business there are a million and one things that need to be done. …the list goes on and on. One thing that can easily be overlooked is bookkeeping. I get it, we’re not the popular kid in school 🤷🏼♀️ But whether you hire a bookkeeper off the bat or plan […]
Nobody started a business because they really wanted to do bookkeeping. You CAN start a new business. You CAN do the bookkeeping for said business. But SHOULD you? I think you know what my answer to this might be. You didn’t start a business to spend hours coding transactions and reconciling accounts. We can handle […]
Now that tax season is officially over, it’s time to reflect on how things went. Some questions to ask yourself: If this tax season left you wanting to curl up in a ball and cry, let me tell you something – it doesn’t have to be that way! Say it with me… “tax season doesn’t […]
The Importance of Savings Receipts in Business If you are a business owner, you’ve likely heard the advice to keep track of your receipts related to any business expense. This is completely accurate advice for a few reasons, most importantly to keep a running total of your expenses month-to-month. On top of that, keeping track […]
Did you miss Part 1? Check it out here! O: Outsourcing As an entrepreneur and small business owner, your time is valuable. You already have approximately a million and one items on your to-do list, and let’s not forget about that life you want to have outside of your business. As an entrepreneur and small […]
A – Accounts Payable Have you ever read the term AP and wondered what that meant? Accounts Payable is a term for the amounts that are due to a vendor for goods or services your business has purchased, but not yet paid for. In other words, it is what your business owes. This can […]
Things get in the way. We get busy. And it’s a lot easier to put off bookkeeping and prioritize content creation, client work, or anything else instead. BUT (you knew that was coming) what is the benefit of doing your bookkeeping 20 days after the end of the month? Or two months later? Or once […]
Having strong and solid systems in place is an easy way to simplify and streamline your business. Not only can these tools make things run more smoothly and save you time, but they are also easy to work with so you have more time to work on money-making and needle-moving tasks (or make cookies, totally […]
