Launching a business is an expensive undertaking, and one that often requires a well-used credit card. To save some money this year, why not give your credit card company a call and see if you can negotiate a lower interest rate or annual fee. Read on for some tips to get you started:
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Five Minute Finances: Negotiating Credit Card Fees
Posted by benchaccounting under FinanceFrom https://bench.co 3654 days ago
Five Minute Finances: Collecting Unpaid Invoices
Posted by benchaccounting under FinanceFrom https://bench.co 3655 days ago
You probably didn’t start your business with dreams of making collections calls, but learning to handle them effectively and in a way that best ensures positive results is a great skill to have in your entrepreneurial toolkit.
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Five Minute Finances: Average Collections Period
Posted by benchaccounting under FinanceFrom https://bench.co 3656 days ago
To celebrate Small Business Week, we are posting five days of Five Minute Finances. Today we are looking at the concept of the average collection period and how to calculate this crucial business indicator. Spend five minutes calculating your average collections period and access your money faster.
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Cash vs. Accrual Accounting, Why Knowing Pays
Posted by benchaccounting under FinanceFrom https://bench.co 3660 days ago
The difference between cash and accrual accounting is important to understand, whether you plan to handle your own financial statements, or hire an outside professional. Read on to understand the implications of using each accounting method.
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Setting the Right Freelance Rate
Posted by benchaccounting under FinanceFrom https://bench.co 3662 days ago
One of the most challenging hurdles that freelancers face is putting a price on their work. The goal of freelance pricing is to hone in on a number that covers your costs, values your time, and is workable for clients.
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Bench — Keeping Business and Personal Finances Separate
Posted by benchaccounting under FinanceFrom https://bench.co 3662 days ago
As a business owner, it’s tempting to blur the lines between personal and business expenses; however, maintaining a distinct separation is one of the best ways to ensure long-term success and financial growth. Read on for a look at why it's so important to separate business and personal expenses.
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Can I Expense That – Gifts
Posted by benchaccounting under FinanceFrom https://bench.co 3669 days ago
Fostering loyalty amongst clients and customers is one of the best ways to secure repeat business. Fortunately, as a business owner you are able to deduct the cost of gifts purchased for clients (up to a limit), making generosity an even smarter choice. Read on for how the limit works, how to make
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Employees and Independent Contractors - Master the Rules
Posted by benchaccounting under FinanceFrom https://bench.co 3676 days ago
When hiring workers for your business, there is an important designation to be made: is the worker an employee of your business or an independent contractor? Read on for a look at why this distinction is so crucial in the eyes of the IRS, as well as how to classify workers correctly.
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Bench — Can I Expense That - Travel Meals
Posted by benchaccounting under FinanceFrom https://bench.co 3681 days ago
Travelling frequently for work can mean a towering pile of receipts from transportation, hotels, and food. Read on for details on deducting business meals and entertainment, and how to go about claiming those costs.
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Can I Expense That: Web Development Edition
Posted by benchaccounting under FinanceFrom https://bench.co 3682 days ago
The downside of building a website is that good design and user-friendly sites often come with a pretty hefty price tag. Fortunately, there are significant tax breaks for software and promotional expenses that make investments in your business website an even better choice. Read on for the specifi
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