Small Business Budgeting

Home Office Deduction: What You Need to Know 

It’s becoming more common for people to work from home. From freelancers to employees who work remotely, the convenience and cost-effectiveness of it is a big pull away from the traditional office. A large number of small businesses also start at home. 

If you’re self-employed and among this group, you may be eligible for a home office tax deduction for your home office expenses. Many people are unsure of how to go about it or are afraid to apply, but a tax break can provide significant relief to cash flow and should be taken advantage of.

Here’s a simplified home office deduction guide for small businesses who are considering it. 

How to Manage Payroll for Small Business 

Expanding a new business comes with exciting milestones. From increased production to more income, seeing your efforts come into fruition is rewarding. But even though new hires are a great sign of growth, managing payroll for small business staff takes the fun out of it for many business owners. There are forms to fill, taxes to pay, regulations to comply with, and so many more human resources tasks.

But setting up a payroll system for small business hiring is not as daunting as it seems. How does payroll work for a small business? Here’s a guide.

Your One-Stop Guide To Small Business Budgeting

Launching a business may seem like a piece of cake, but without proper small business budgeting, you’ll have a hard time surviving.

Creating a business budget ensures that you allot an appropriate amount of funds to a particular liability or asset so that you don’t go overboard later on. In this way, small business budgeting keeps you on track and prevents you from falling into debt, taking care of your profits.

Wondering how to create a business budget for your startup? You’ll find out below in our step-by-step guide to budgeting for business owners.