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Mistake to Avoid – Not Having a Good Understanding of Your Cash Flow Dynamics

Mistake to Avoid – Not Having a Good Understanding of Your Cash Flow Dynamics With most small businesses, cash is king. By that, we mean that one of your most important tasks is managing your cash flow to ensure there are funds available for meeting your operating needs and funds available to enable you to take advantage of opportunities for […]

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Mistake to Avoid – Not Preparing and Utilizing an Effective Cash Flow Statement

While an income statement can present a true picture of the operating results of your business, understanding what is happening with your cash flow is also critical and can help you with the day-to-day operation of your business.  Managing your business without the adequate cash flow to meet operating needs and to take advantage of marketplace opportunities can make life […]

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Mistake to Avoid – Not Keeping the Right Tax Information

A common problem faced by many business owners is knowing exactly what type of records must be kept and for how long. The result is often boxes of papers that accumulate and take up space.   Here are some general guidelines on what to retain:   Keep federal and state tax returns forever. Keep the records that support numbers in […]

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