Note that the deadlines may vary depending on the type of taxpayer and other factors, so it’s important to check with the relevant tax authorities or a tax professional for specific guidance. Please see here for IRS resources. Monday, May 1, 2023: Wednesday, May 3, 2023: Friday, May 5, 2023: Wednesday, May 10, 2023: Friday, […]
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What’s in this edition: What is a surety bond? Surety bonds are a type of contract that involves three parties: the person or business that needs the bond (known as the principal), the entity requiring the bond (known as the obligee), and a third party that provides the bond (known as the surety). The purpose
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As a small business owner, you know that budgeting is a critical aspect of financial management. However, you may also have experienced the limitations of traditional budgeting methods, such as incremental budgeting or historical budgeting, which may not always align with your business goals and priorities. That’s where zero-based budgeting (ZBB) comes in. ZBB is
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Have you ever wondered how restaurants determine their prices? Well, in recent years, many restaurants have been turning to a strategy called dynamic pricing. Basically, it means that the prices can change depending on various factors like time of day, demand, and inventory levels. In this blog post, we’re going to explore the concept of
As a small business owner, managing inventory can be a challenging task. However, by tracking inventory through financial metrics, you can gain a better understanding of your business’s performance and make informed decisions. In this blog post, we’ll explore the importance of tracking inventory through financial metrics and how it can help your small business
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What is a Total Addressable Market (TAM)? The Total Addressable Market (TAM) is one of the most important metrics to understand about your industry/market. It defines your potential for growth and should act as a handrail for your business plans. It is a simple calculation of an estimate total number of ideal customers and average
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What is a financial model? A financial model is a forecast of a company’s future financial performance based on assumptions (of revenue drivers, operating expenses, etc.) and past performance. Importance of financial models for small businesses One of the top reasons small businesses fail is from cash flow issues. Whether it be from not having
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