Tag: Business Finances
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Are You Mixing Business and Personal Finances? Here’s Why That’s a Problem.
Many DIY entrepreneurs find it convenient to pay for personal and business expenses out of the same bank account, but this habit can spell trouble. Keeping accounts separate is recommended by the IRS because it simplifies recordkeeping and ensures proper tax treatment. When you mix funds, personal expenses can’t be deducted as business costs, and Read more
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What to Do If You’re Behind on Your Business Finances This Year
Falling behind on your business finances isn’t just frustrating, it can feel downright paralyzing. Maybe you started the year with good intentions: keeping up with receipts, staying on top of invoicing, or finally sticking to a bookkeeping routine. But somewhere between client work, product development, and the daily demands of running your business, the numbers Read more