The latest in notary, Apostille, and business news from New York, NY.
The ongoing COVID-19 pandemic has sparked an uptick in the number of entrepreneurs and companies entering their respective industries. More and more people are starting their own small businesses but may need more information regarding financial management. The following are some financial management tips that entrepreneurs should keep in mind this year.
Read MoreA tax deduction (or “tax write-off”) is an expense that you can deduct from your taxable income. You take the amount of the expense and subtract that from your taxable income. Essentially, tax write-offs allow you to pay a smaller tax bill. But the expense has to fit the IRS criteria of a tax deduction.
Read MoreInflation is caused by a number of factors, including supply chain issues driving up prices due to higher demand that can’t be met because of shortages, labor shortages triggering higher wages which usually is passed on to consumers in the form of higher prices for goods and services, and perhaps most importantly, runaway government spending putting huge amounts of dollars into circulation that requires an increased money supply from the Federal Reserve. Shortly before the spike in inflation in the past couple of months, I suggested 5 ways inflation could impact your business.
Read MorePost-pandemic, remote work arrangements are here to stay. The 5th Annual State of Remote Work 2021 from Owl Labs found that nearly 50% of workers in the U.S. would be willing to take a 5% pay cut to continue working at least part-time from home. And employers are embracing this arrangement too. There are several good reasons for doing this, but unfortunately there are some pitfalls to consider.
Read MoreIt’s understandable that many small businesses continually play catchup. They’re usually in a constant state of troubleshooting and often find themselves without the resources they need. With the economic challenges today—supply chain issues, labor shortages, and inflation—it’s a good idea to think about building up reserves for various aspects of your business. Think of this as protection for the future.
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