Today, I want to tackle a very important concept that many business executives and managers tend to overlook: When and how should you make changes to your product mix in order to increase profits? When a company isn’t doing well, most of the time it’s because they...
In order for a business to pay the rent, make payroll, and cover all of their expenses, they need to make a certain number of sales each month. Of course, they may be able to continue collecting receivables for a time to help keep the lights on; but eventually, that...
It’s imperative that you prepare for the next tax filing season all year round. Now, it’s time to turn your attention to this year’s personal and corporate tax returns. Of course, proper tax planning will help you maximize the amount of money you’re able to save when...
I’m always amazed when a business that makes $500,000, $1,000,000, or perhaps even $5,000,000 has no idea what they’re making. If they are relatively organized, they may be able to see what they are making at the end of the month. Otherwise, they may have to wait...
One of the most important questions that a business owner can ask is, what should we be charging for our products and services? On one hand, charging too much discourages customers from purchasing your product. On the other hand, charging too little reduces your...
Especially in a struggling economy, raising your prices might seem like a nonsensical thing to do. But the reality is that, as a business, your costs are increasing all the time. You should be able to raise your prices as needed in order to offset those costs and...
For years, real estate has been one of the most popular investment options—and for good reason. Rental properties, specifically, have the potential to not only generate significant income but also provide all kinds of tax benefits. Whether you’re a current real estate...
Do you want to save as much money as possible on your income taxes this year? Of course, you do! Many people assume that they can’t save very much on their taxes if they don’t own a business or property. While it’s true that those without businesses or rental...
As a business owner, you should be in the business of making a profit. Of course, one of the best ways to increase your profits is to reduce your tax bill. Fortunately, there are hundreds of ways for businesses to achieve this. Follow these 31 essential tax tips to...
With the corporate tax filing extension deadline having passed and a new tax planning season just around the corner, it’s time for all business owners to start thinking about how they can pay less taxes this year. The truth is that very few business owners do very...