What Is Reasonable Compensation?

What Is Reasonable Compensation?

For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. Many small businesses have organized as an S Corporation form of entity. In many cases, the S Corp election allows a...
How much does that cost?

How much does that cost?

One of the ideas behind Profit First is borrowed from a fitness expert who spoke about how unhealthy the whole “clean your plate club” philosophy is. In fact, in his book Mike Michalowicz asks himself, “If I reduce the ‘plate size’ of my business’s operating account,...
Five Ways to Streamline Your Payroll Process

Five Ways to Streamline Your Payroll Process

For business owners with employees, payroll is a necessary task that can slow your day and tie you down if you let it.  If you’re looking for a way to make payroll less time-consuming, here are five ideas you can put to good use:For business owners with employers,...
Receiving Payments in QuickBooks Online

Receiving Payments in QuickBooks Online

It’s perhaps one of your favorite activities in QuickBooks Online: recording money that comes in. Are you doing it right? Your days of matching paper checks to paper invoices are over. QuickBooks Online excels at keeping your accounts receivable organized. No more...

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