NASE Business Management Blog

You know your industry, let us help you manage your small business.

Tuesday, May 29, 2012
Posted by NASE Business Expert Gene Fairbrother - A basic management tool to keep your finger on the pulse of cash flow is a cash position report. While every business needs to be producing monthly profit and lost statements along with cash flow statements, these reports are monthly pictures while the cash flow report can be created every week or even every day to give you a flash picture of your cash position. Start by setting up a spreadsheet on your computer with the following headings: Month to date, Total Sales, Cash-On-Hand, % of sales, Accounts Receivable,  % of sales, Accounts Payable, % of sales Then, every few ...
Friday, January 27, 2012
Posted by Keith Hall - Are the workers in your business Independent Contractors or are they really Employees, instead?  For most of us it is easier to simply call them independent contractors instead of employees because the presumption is that the paperwork is easier.  No withholding, no payroll taxes, less hassles.  The problem is that the classification of your workers is not a matter of choice.  You can’t just choose for them to be independent contractors because it is easier.  Your worker’s classification is determined by the underlying facts and circumstances of the working relationship with the key point being ...
Monday, December 05, 2011
Q: We have a significant quantity of clothing left in our warehouse. In prior years we have scrambled to "get rid of it" at closeout prices because our CPA says this has a tax advantage. HOWEVER at what point can we determine we are actually LOSING money by doing this? If we hold on to inventory and sell it at full price next year, perhaps that's a greater advantage? Is there a formula to help us ascertain what to do? A: I hate to take exception with your accountant, but selling inventory at less than you otherwise could, simply for ...
Thursday, November 10, 2011
Posted by Molly Nelson - It may surprise you to know that if you use tools like Gmail, Facebook or Twitter for your business, you're already in the Cloud. The basic concept of the Cloud (and cloud computing) is that users can store and access information and software on third-party servers instead of the actual computer (or mobile device) in front of them. Cloud providers like Amazon Web Services allow users to "rent" the programs and computing power they need at a given time, allowing companies to - for example - run complex programs, scenarios or large datasets on multiple ...
Monday, November 07, 2011
Q: I have following questions regarding a family employee (child who is under 15 yrs): What's the best method of payment, direct deposit payroll or checks or cash? Can we claim him as DEPENDENT for tax purposes, if the annual income paid is under the limit $4,750 applicable for year 2011? For our LLC we have been filing tax returns as a sole-proprietor, along with individual tax returns. Do we have to file additional form for child income? A: The new employee, your child, should be treated basically the same as any other non-related employee even though there are certainly some differences ...
Tuesday, September 13, 2011
Q: We own a small restaurant and I am unsure how to account for tips which the staff declares in the Point of Sales System at the end of the day.  How do I deal with the tips per pay period? For example, we have two GMs/bartenders who each make $250 a week (no hourly). I have figured out how to deal with payroll taxes on this set amount, but how do I account for the tips that they get on credit cards?   A: Your question is a very good one and one that I personally always thought was ...
Monday, April 25, 2011
Posted by Molly Nelson - Let's start the week with some home office-focused articles. Feel free to share any additional tips or advice in the comments! Small Biz Bee has 11 tips on managing working from home, while Freelance Folder offers 10 home office time savers. Chief Home Officer is an expert on all things home office, and offers home office tips on a wide range of subjects from making your home office both comfortable and productive, sharing a home office with your spouse and which shredder is the best investment (no really, check out the picture!). And if you're ...
Thursday, September 16, 2010
Posted by Kristin Oberlander - As an NASE Member, you have access to discounts on incorporation services and DBA registration through BizFilings. If you have questions about whether or not to take on a new employee, our guest blogger, Julie Henningfield, offers some pointers to help you decide. Remember to consult with our small business experts at ShopTalk if you have any additional questions! Self-employment cultivates independence, pride and control. But when the workload gets to be too burdensome, you may start to think bringing someone else on board isn’t such a bad idea. One of the first things you need to ...

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