Easy Ways to Improve Profitability

Boost your bottom line by implementing some or all of these tactics for reducing costs. Remember, it does not matter how much you generate in sales…the most important profit potential is what you are able to keep . Use these great tips to get

One of the advantages of operating your own business is hiring family members. However, the employment tax requirements for family employees may vary from those that apply to other employees. A spouse or other family member is considered an employee if there is an

Recent research shows that while vendors believe price is the most important factor in customer loyalty, customer’s rank service as the most important factor. In fact, 40% cite poor customer service as the main reason for selecting another business. Instead of reducing prices while

Many small business or practice owners with employees decide to outsource payroll and related tax duties to third party payroll service providers. This helps employers meet filing deadlines and deposit requirements and streamline business operations. Some of the services provided include administering payroll and

The following are easy-to- follow strategies to improve profitability and cash flow: Identify unprofitable products and services and eliminate them. Don’t fall into the trap that many businesses do when they continue to sell goods or services that don’t make any profit at all.

Federal income tax is a pay-as-you-go tax which means you must pay the tax as you earn or receive income during the year. For example, when you work for someone else, taxes are typically deducted from each paycheck. Now that you work for yourself

Being a small business owner can be tough but chances are you didn’t plan to spend your time dealing with employee differences. Nonetheless, managers, supervisors and business owners need to know how to differentiate between a valid employee problem and general complaining in order

Finding the right insurance for your business. Before speaking with an insurance representative, write down a clear statement of your expectations. Do not withhold any important information from your insurance representative about your business and its exposure to loss. Treat the individual as a

The media is filled with stories about disgruntled employees who have stolen entire client lists and given them to the competition or private information on other employees or clients. In all likelihood, your client list contains invaluable information which has taken you years to

Small business owners are legally obligated to confirm and authenticate the identity of employees or face potential penalties. From illegal aliens to security issues, employee screening and background checks are a necessary part of doing business. In fact, the most common employers conduct background