Who gets a 1099?

When business owners ask this, they are usually referring to the 1099-MISC and as of 2020, the 1099-NEC (Non-employee Compensation).

Management Accounting & bookkeeping, Xero Training, Xero Advisors, Xero experts

All accurate aspects of the business; each a practiced and experienced area we provide clients.  However, the company name is much more personal than that.

As Xero advisors, here are five steps to starting a business according to your expert accountants.

Payroll is one of those things that starts out simply enough. You start your business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is… they grow!

Legal accounting is challenging for many solo practitioners and small law firms. Here are five major challenges

Bookkeepers can be highly beneficial for businesses of any size. Here are 4 benefits to hiring bookkeepers to help you manage your business.

Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners.

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case.

If you want your business to grow, at some point you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably.

If you’re looking to grow your business, you might consider expanding your service offerings.

Each quarter, members of the MATAX team pick their favorite.  Here are our selections for Q2.

Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places.

As your business grows–or as you look to take a smaller role in your company–you may find the business has become over-reliant on you, which makes it difficult for you to take a step back. Here are some steps you can take to enable your business to thrive, even if you can’t be there all the time.

Small business owners often feel that they have to do something to stand out from the crowd and attract an audience. If that’s how you feel, you’re definitely not alone.

Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train new staff. Beyond that, employees that are satisfied and feel valued are more motivated and productive.

Whether your small business is business-to-business (B2B) or business-to-consumer (B2C), you likely deal with some level of customer churn, especially given the COVID-19 pandemic. Even customers who love your business and your products may have lapsed for a variety of reasons.

Unlike business consultants (whose fees may well exceed your budget), advisory board members may agree to provide advice pro bono, for a small stipend, meal, or reimbursement of travel expenses. These tips will help you create a first-rate advisory board that can immediately help improve your bottom line.

That’s a lot of motivation to encourage repeat customers. Here are 4 tips to encourage your customers to keep coming back.

Balancing customer experience against your budget is a difficult task. You need the right amount of staff working to keep customers happy, but not so many people that workers are standing around looking for things to do.

If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient.