When you deduct business expenses on your income tax return, you can usually refer to your records to support the expense. However, you must keep records that meet IRS record-keeping standards in case of an audit. We aim to explain what receipts the IRS requires so that you don’t miss anything when filing your taxes….
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Are you thinking of using QuickBooks Online to manage your business’s bookkeeping? If so, you’re not alone. In today’s fast-paced digital world, no business can afford to lag behind, making software an essential component of success. Small businesses, in particular, must be agile to succeed. Fortunately, technology makes it easier than ever for small businesses…
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Small businesses are often hit the hardest when the economy takes a downturn. With fewer customers spending less, many small businesses must cut back in order to stay afloat. In these times, it is more important than ever for small businesses to be as frugal as possible and have a plan for staying afloat during…
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You may not have thought about this, but it is a common question among winery and vineyard owners, not to mention wine aficionados. Customers always ask vineyard and winery owners why wine is priced the way it is. If you have ever wondered how your favorite bottle of wine is priced, or you are thinking…
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As a winery owner, you are probably far more concerned with wine production than wine pricing. That’s understandable because if the wine isn’t good, it won’t sell regardless of price. However, you need to get a fair price for your wine to recoup your production costs and stay in business. Wine pricing can be tricky….
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Small businesses often have cash management issues. In fact, over 60% of small business owners have cash flow problems from time to time. Over 40% of businesses have had cash problems so severe that they missed vendor payments, payroll, or leases. Controlling your cash flow is vital to the success of any business. The wine…
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