Every business owner needs to know the basics of financial statements. Know this information if you are completing them yourself or if you are outsourcing to a bookkeeper.   Statements are difficult to analyze but are critical to the health of your business. Keep reading for the basics of what financial statements are and a breakdown… Read More

Tax season is typically a stressful time for many people. It’s important not to make any tax mistakes or miss out on extra cash through deductions.   Most people complete their contracted jobs from the comfort of their own home. Because of this, many independent workers started their businesses or began working as freelancers during the pandemic.… Read More

What is a Cash Flow Statement? A cash flow statement is the total amount of money, both physical or virtual, transferred in and out of your business. It is a combination of information from your profit & loss statement and balance sheet.   Having cash flow steadily into your business keeps your employees paid and the lights… Read More

Starting your own business is exciting, but you must also focus on your numbers. This includes budgeting, accounting, and bookkeeping.   Do you want to run a successful business? You must consider the startup business expenses below in your budget.   Estimating an accurate startup cost will help you meet your business goals. Before starting your business,… Read More

COVID-19 has brought upon many scams involving unemployment and coronavirus relief funds. Americans have lost $36 billion in fraudulent unemployment payments from scammers. Small business owners—be aware of this recent unemployment scam going on! Fraudsters have been filing for unemployment with business owner’s names. Since they know that small business owners are many times too busy to open their email,… Read More

Do you have a business idea that you want to make happen? Remember that a business comes with many working parts. After coming up with your initial idea, find a mentor, conduct research, raise funds, and create a plan of action. Follow these tips when creating your startup company. Find a Mentor Starting your own company is… Read More

Business owners learn throughout the years from failures and experiences. Here are 5 mistakes that many small business owners make. Avoid these mistakes so you can grow your business successfully.   Not Having a Business Plan in Place A business plan sets the parameters for everything related to your business. It gives you structure and… Read More

January is almost here, which means it is time to focus on your business’s year-end payroll processing. Processing payroll is complex and detail-oriented. It requires tax calculations and compensation totals for each one of your employees.   This can be a dreadful time for many business owners, so we are sharing some of our expert tips to… Read More

Your productivity as a small business owner directly impacts your profitability. The holidays are among us and now is the time to increase your annual sales. Make sure you have a return on your investment this holiday season.   Hit your yearly growth marks by following these profitability tips.   Set Holiday Goals Goals are important when you are determining… Read More

The Paycheck Protection Program (PPP) was created as a result of the COVID-19 pandemic. It is a part of the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act). Many business owners are wondering if they should apply for the PPP loan forgiveness or defer in 2020. PL Consulting has helped many employers apply for the PPP loan… Read More