Finance Your Business

How to Haggle with Customers

by Tim Parker December 21, 2021

Although it might come as a surprise when customers want to haggle, don’t be offended. Instead, use these tips to negotiate the best deal for both of you. You want to get the highest price for what you’re offering, but the customer wants to pay the least amount possible. These opposite goals inevitably lead to ...

Are Discounts Hurting Your Business’s Profitability?

by James Bulger December 21, 2021

Running a sale to attract customers is a time-honored marketing strategy, but is it one you should be using in your business? Learn why discounting can erode your profits even as it stimulates sales and find out what you can do to avoid having to discount prices to compete. Price tag markdowns, sales promotions, and ...

How to Create a Small Business Budget

by Tim Parker December 21, 2021

How do you create a budget for your small business? Whether you are a startup or an existing business, creating a budget is important. Here’s what needs to go into it and how you figure out what your expenses will be. Creating a small business budget isn’t a task most business owners enjoy. But managing ...

Income Tax Basics for Gig Workers

by Tim Parker December 20, 2021

Freelancers and gig workers are required to pay income taxes on their earnings. Here’s what’s taxable and how to report and pay income taxes on your gig or freelance earnings. Working gigs — working as a freelancer or independent contractor — is the epitome of the American Dream for some. They’re their own boss and ...

7 Tax Deductions for Self-Employed Business Owners

by Tim Parker December 20, 2021

What tax deductions can the self-employed take? Here are seven types of expenses the self-employed, home businesses, and sole proprietors can deduct. Are you self-employed? If so, you have to report and pay taxes on your income. So, it’s important to know and take all the tax deductions you’re entitled to. And, as fulfilling and potentially ...

Qualified Business Income Deduction Could Cut Your Tax Bill by 20%

by Jonathan Medows December 20, 2021

The qualified business income (QBI) deduction can save owners of businesses whose income passes through to their personal returns up to 20% on their taxes. Find out how this pass-through deduction works below. One of the newer tax rules that business owners should be aware of is the Qualified Business Income Deduction (QBI). The deduction, also called Section 199A, ...

Online and Mobile Payment Solutions for Small Businesses

By Allen Taylor December 20, 2021

If you run a small business, it’s important to accept payments online and via mobile. Offering these types of payment options can increase sales and improve cash flow. That’s because, the easier you make it for your customers to do business with you, the more likely they are to consider you first when they need ...

Why Do Lenders Require Collateral?

by Joseph Lizio December 17, 2021

When you apply for a loan, the bank usually wants to know what you can put up as collateral. Yet not all forms of collateral are as appealing to banks as others. Find out why lenders need collateral and what qualities they look for in it. Getting an unsecured business loan is nearly impossible these ...

Pricing Services: A Guide for Small Businesses

by Tim Parker December 17, 2021

How should you price your business services? Here are costs you have to factor into your hourly rates to run a profitable service or consulting business. If you owned a retail store, a restaurant, or sold products online, figuring out pricing would be relatively straightforward. You’d take the price you pay for the product, add ...

Multiple Streams of Income for Your Business

by Marcelina Hardy December 17, 2021

Having multiple streams of income from your small business can help boost your profits and cushion against losses during slow seasons. Here are several ways you may be able to add more income streams to your company. You have your business, and it’s doing well. Something inside you is pulling you to something else, though. ...

Business Financing Sources

by Janet Attard December 17, 2021

There many ways to finance a business. The right one for you depends on your business needs, credit, and situation. Here are some business financing sources to look into. How can you finance your business? The best finance source for your business depends on a number of factors, including the amount needed, the intended use of ...

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