A Much Loved Holiday Tradition Continues In San Diego: How the Need for Arts Education and Solid Non-Profit Financial Management is Carrying the San Diego Civic Youth Ballet Through the Pandemic
The coronavirus pandemic has presented major challenges for non-profit organizations in San Diego this holiday season. Like most non-profits, the San Diego Civic Youth Ballet generates a bulk of its operating expenses from in-person events.
However, due to current ...
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Resources
Budget Planning: How and Why to Create a Budget for your Business
Budget Planning for your Business
Do the words “budget planning” make you groan? For many people, it’s on par with being stuck on a cross-country flight next to a screaming baby. Or calling [insert company you hate most here]’s customer service line.
It doesn’t have to be that way. Budget planning is not all about limitations. In fact, budget planning can be freeing! As John Maxwell said, “A budget is telling your money where to go instead of wondering where it went.”
You ...
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Six Signs of Scary Financial Management for Small Businesses
Six Signs of Scary Financial Management for Small Businesses
Financial management for small businesses can seem like a daunting, scary endeavor. However, if you hide from it, your finances will haunt you for years to come.
Therefore, today we’ll explore 6 signs of scary finances that small business owners might face. With Halloween just around the corner, we want to turn your financial planning into a sweet treat!
1 | No Cash Reserves
Nothing scares small business owners ...
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Paycheck Protection Program Loan Forgiveness
Paycheck Protection Program Loan Forgiveness
Editor's Note: Information in this Paycheck Protection Program article was last updated on June 24, 2020.
What is the Paycheck Protection Program Flexibility Act?
Have a Paycheck Protection Program (PPP) loan? If so, you may be wondering how to qualify to have the loan forgiven.
Well on June 5, 2020, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law. This means the PPPFA makes it easier for small business ...
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5 Financial Tips For a Prosperous New Year
5 Financial Tips For a Prosperous New Year
Every year, millions of people make New Year's resolutions, hoping to improve some aspect of their lives. As a small business owner, you probably have many ideas about how to improve your finances in 2021. But with so many opportunities, where should you begin? Start by reading up on these 5 financial tips for a prosperous 2021!
1 | Set Measurable Financial Goals
2021 is the year to think big for your business. What do you want to ...
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Tax Avoidance and Tax Evasion: What’s the Difference?
Tax Avoidance and Tax Evasion
We’ve been hearing a lot about Donald Trump’s taxes lately. Did Trump avoid paying taxes? Did Trump cheat on his taxes? We are curious too. However, before we pass judgment, it’s important to understand the differences between tax avoidance and tax evasion.
Tax Avoidance
The IRS defines tax avoidance as “an action taken to lessen tax liability and maximize after-tax income”. Therefore, tax avoidance is financially advisable and even the IRS says ...
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Bookkeeper vs CFO vs CPA: Understanding the Differences
What are the key differences between a bookkeeper, CFO & CPA?
Bookkeeper vs CPA vs CFO , which one to choose? As a small business owner, it’s wise to engage a team of professionals who will help you manage your finances. However, who should be on your team? And how do their roles differ?
Before we dive into the details, here’s the big picture:
A bookkeeper processes and records financial transactions in accounting software.A CFO is a highly experienced finance professional who’s ...
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8 Essential Components of a Killer Business Plan
Today we are talking about the 8 components of creating a business plan. Starting a business is both exciting and challenging. You can design your own career, be your own boss, and pursue your passion. But, according to the Small Business Administration, only two-thirds of businesses survive at least two years. About half survive at least five years.
Want to know the secret to start off on the right foot? It’s a killer business plan. You need to define your strategy and tactics for ...
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6 Savvy Ways For Small Business Owners to Increase Profits
Increase profitability through these 6 simple steps
In this post, I'll share 6 ways for small business owners to increase profits. We know that, when comes to profit, small business owners often feel like they’re on a roller coaster ride. Whether you’re just starting up or you have an established business, you’re likely experiencing some ups and downs.
One year your profit is great and the next year you might not be able to avoid a loss. This is especially true when unexpected events ...
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5 Financial Tips for Reopening a Small Business
Editor's note: last updated on July 30, 2020.
5 Financial Tips for Reopening a Small Business
You may be wondering, "is it safe and financially feasible for reopening a small business?" Well, after an extended period of closures to reduce the spread of the coronavirus (COVID-19), businesses that survived the economic downturn are starting to reopen. In this article, we'll review financial tips to help you with reopening a small business and stay open during these uncertain ...
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Coping with the Coronavirus Cash Crunch
Coping with the Coronavirus Cash Flow Crunch
Revised August 2020.
If you're like most small business owners, you are suffering from cash flow challenges due to the coronavirus pandemic. With lots of money going out the door and much less coming in, what should you do to cope with the coronavirus cash flow crunch?
In this article, we'll discuss four critical steps to take to ensure your business survives this unprecedented time:
Forecast cash flow Adapt your business ...
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The Paycheck Protection Program (PPP)
The Paycheck Protection Program (PPP)
Editor's note: This article was last updated on June 9, 2020. It reflects loan forgiveness changes outlined in the Payment Protection Program Flexibility Act.
If you're like many small business owners, you may be struggling to retain employees during the COVID-19 pandemic. Fortunately, federal financial assistance programs can help. In this article, we'll discuss the Paycheck Protection Program (PPP).
What is the Paycheck Protection ...
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Economic Injury Disaster Loans (EIDL) for Small Businesses
Economic Injury Disaster Loans (EIDL) for Small Businesses
The coronavirus (COVID-19) pandemic is wreaking havoc on small businesses.
As a small business owner experiencing a loss of revenue from the novel coronavirus (COVID-19) pandemic, you're probably losing sleep at night wondering how your business will survive in these uncertain times. The mental narrative playing on repeat in your head may sound something like this:
"Coronavirus is crushing my business! How will I serve my ...
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