How to Take Advantage of Tax Deductions for Startups

Taxes are one of many concerns people have when starting a business. Everyone is interested in ways to reduce costs and maximize profits, which is why knowledge in tax write-offs and deductions are highly beneficial and a great strategy for when tax season rolls around.  Unavoidably, there are many expenses associated with starting a business, and the IRS has rules … Read More

How to Choose the Right Business Structure for your Startup

You’re wanting to start a business and in the midst of creating a business plan. Now what? As you put together your business plan, it is crucial that you decide what type of legal business structure you will have.  Setting up your legal  business structure will dictate the different benefits you will be eligible for, your taxation, the liability of … Read More

Create a Cash Flow Statement with Excel Templates

man calculating his cash flow statement.

There are many moving parts when it comes to a business plan’s finances. Arguably one of the most important moving parts is your cash flow since it helps you understand how money moves into and out of your business. A cash flow statement is essential as it dictates how a business or nonprofit goes about its daily operations. Businesses can … Read More

Top 3 Free Market Research Tools

Teget market research tools

Gathering and studying data is an important part of finding your target market. In fact, that’s usually where you find reliable information about your customer base and ultimately decide if your idea is a viable one.  The internet is packed full of data and tools, which can be overwhelming at times. If you are just starting out, you may consider … Read More

Find Your Target Market

Sometimes you may have a great idea for a business or product to start, but have no clue as to how other people would react to it.  Would others think it’s a good idea? Would people buy the product?  By identifying your target market, you are able to answer these questions and gain more insight on how to turn your … Read More

Balance Sheet vs Income Statement

Not everyone is gifted with the ability to crunch numbers. That’s why most business owners look for an accountant to worry about these for them. However, if you don’t know how to interpret an income statement and balance sheet, you are at risk of being clueless about the financial health of your business, which limits your ability to make good … Read More

4 Types of Intellectual Property (IP) to Protect Your Idea

One of the most important things to consider as you get ready to start your business, besides creating your business plan, is to protect your intellectual property. This term encompasses any branding aspects, designs, specific products, processes, and/or ideas, and the legal rights to use these. You can protect your intellectual property by establishing trade secrets, trademarks, copyrights and patents. … Read More