Category: Operations
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“How to Pay Yourself as a Business Owner: A Guide to Salaries, Draws, and Distributions”
You did it. You took the leap, started your business, and after pouring in countless hours of sweat and effort, you’ve started making money. Now comes one of the most exciting—and confusing—questions an entrepreneur can ask: “How do I pay myself?” Taking money out of your business isn’t as simple as pocketing cash from the…
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From “Me” to “We”: Navigating the Tax Implications of Your First Hire
Hiring your first employee is a monumental step for any small business. It signals growth, success, and the exciting transition from a solo venture to a team. While you’re focused on finding the right person to help you build your vision, it’s crucial to understand that this step also fundamentally changes your financial and legal…
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Understanding Your Financial Statements: A Breakdown for Beginners
For many new business owners, the term “financial statements” can sound intimidating, bringing to mind complex spreadsheets and accounting jargon. But what if you thought of them not as a test, but as your business’s storybook? These documents tell you where your business has been, where it stands now, and where it might be going.…