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  • How to get your business out of debt

    Published: December 17, 2024 • Business Strategy, Cashflow, Financial Planning, Savings, Small Business Rescources

    How to get your business out of debt Even years after the COVID-19 pandemic, SBA and EIDL loans have sunk small businesses. Despite efforts to help enterprises during a brutal pandemic, many small companies still have large amounts owed and are on an uphill battle trying to pay it all off. Add that to current credit card balances or lines of credit, and the debt load can quickly increase. Unfortunately, high debt balances encroach on a business’s cash flow, stifling the opportunity to grow and thrive. All the loans also give little in deductible returns. Interest is deductible, but that’s […]

  • Learning Business the Hard Way

    Published: July 26, 2024 • Business Strategy, Small Business Rescources

    Learning Business the Hard Way When I was young, I watched my dad run different businesses. Even before I was born, he was always starting something new. He was a real entrepreneur like his father who owned a fuel oil delivery company. The story goes that when he was under sixteen, his father who had a great year in business, gave his older brothers cars. But my dad got a down payment on a duplex. He rented it out and made money from it. After that, he tried an ice cream business and later owned Midas Muffler shops in the […]

  • Being Organized Saves Your Small Business Money

    Published: May 5, 2024 • Financial Planning, General Business Tips, Savings, Small Business Rescources

    It may not be obvious to most, but being organized and running an organized business saves you money. Much can be gained by added efficiencies and productivity to your business. In 2003 I started a professional organizing business in Chicago. I served customers for twenty years and most of the focus was on their residential spaces and finances. When Amber’s Bookkeeping was launched in 2016, I started to draw the parallels between running an organized household and running an organized business. Much waste takes place when we are not watching the details and following tried and true organizing principles. Efficiency […]

  • 5 Reasons to Outsource Your Accounting & Bookkeeping

    Published: April 30, 2024 • General Business Tips, Small Business Rescources, Subcontractors vs. Employees, Tips for Business Owners

    I’m sure you’ve heard of the wildly popular sites such as Fiver and Upwork. On these sites, you can find just about any contract talent work that you need. People showcasing how they can help your small business on a project basis. Most of us also hire out web designers and a tax attorney or CPA to do our yearly tax returns. Grant it, some of us might have wicked skills in many areas but most small business owners aren’t good at everything. I’d like to argue just because you can doesn’t mean you should. You should be doing what […]

  • Why You Should Open A Business Savings Account For Your Business

    Published: February 16, 2024 • Financial Planning, General Business Tips, Savings, Small Business Rescources, Tips for Business Owners

    Should I have a business savings account for my small business? Yes! Here are a few reasons why you should consider using a business savings account:   1.Save money for taxes. Instead of reacting to a tax bill, proactively save to pay your tax bill. There’s nothing worse than completing a full robust year of business to drain your bank account for the IRS or the state. It comes all at once and can feel like a blow to your gut! A better approach is to watch your numbers and reports. Specifically, after your bookkeeper is done reconciling the month […]

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