business strategy Archives - Business Advisory Solutions

How Do I Record Daily Business Transactions?

Recording daily business transactions is a fundamental aspect of proper bookkeeping and financial management. Accurate and organized record-keeping is crucial for tracking your business's financial health, ensuring compliance with tax laws, and…

September 17, 2023

business strategy

Do I Need An LLC To Write A Book?

No, you do not need to form a Limited Liability Company (LLC) to write a book. In many cases, authors write and publish books as individuals without establishing a separate legal entity.…

September 16, 2023

business management, business strategy

What Is The First Rule Of Business Management?

While there isn't a universally agreed-upon "first rule" of business management, many successful business leaders and management experts emphasize the importance of clarity in vision and goals. Establishing a clear vision and…

August 31, 2023

business management, business strategy

Does A Business Owner Get A 1099?

In general, business owners do not receive a 1099 form from their own business. The Form 1099 is a series of documents used to report various types of income, such as income…

August 31, 2023

accounting, business management, business strategy

What Is The Best Way To Pay Yourself As A Small Business Owner?

As a small business owner, there are several methods you can use to pay yourself. The most suitable method depends on various factors, including your business structure, financial situation, and personal preferences.…

August 2, 2023

business strategy

Does Owner Draw Show Up On Profit And Loss?

Owner's draws typically do not appear on a business's profit and loss (P&L) statement. The profit and loss statement, also known as the income statement, primarily focuses on the revenue and expenses…

July 28, 2023

business strategy, personal finances

Can I Fund My Business With Personal Funds?

Yes, you can fund your business with personal funds, and it's a common way to start and support a small business, especially in the early stages. Many entrepreneurs use their personal savings,…

July 3, 2023

business strategy, expenses, personal finances

What Happens If You Mix Personal And Business Expenses?

Mixing personal and business expenses can lead to a variety of problems and complications, both financially and legally. Here are some of the potential consequences and issues that may arise when personal…

June 29, 2023

business strategy, expenses

What Can You Not Write Off As A Business Expense?

While the specific rules regarding what you can and cannot write off as a business expense can vary by country and can be subject to changes in tax laws, there are some…

June 26, 2023

business advice, business strategy

Why Do You Need An Entity?

Forming a legal business entity, such as a corporation, limited liability company (LLC), or partnership, offers several important benefits and protections for business owners. 10 key reasons why you may need an…

May 28, 2023

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