Whether you’re in a large or small business, money is absolutely an issue. If you’re part of a large organization you have many options available to you when it comes to how you handle money. You’re probably not the owner or founder, which means you’re dealing with someone else’s money.
It’s different for small business owners. Even if you have a few employees, money issues are always cropping up here and there. Even successful business owners started out struggling for survival, and possibly made one of the 7 things we’re going to talk about here. Continue reading 7 Ways You Should Be Thinking About Money And Your Small Business→
Every finance website talks about having a good credit score. We talked about the importance of having a good credit score while mentioning that we still believe it’s best to pay off outstanding balances as soon as possible.
This is contrary to what most financial experts would tell you. They tend to believe that it’s best to keep balances on your accounts and pay them down regularly to show that you have a consistent payment schedule going. Supposedly that encourages other lenders to loan you money because of your payment history. We talked about this in a previous article. Continue reading Is A Good Credit Score Worth The Debt?→
I was recently reading an article about a millennial who wanted to buy a house. He was earning around $80K a year and was ready to pay a 20% down payment on the house he found to his satisfaction. The trouble came when he tried to get a loan; no one would give him one.
The problem? He hadn’t had a credit card since he was 18 years old and started college. He ran it up to $500, got scared at how easy it was to spend money that fast, paid it off and never used credit again. He’d gotten a full scholarship to school, so he didn’t have any college loans to pay off. Continue reading The Dichotomy Of Credit→
There’s a strong reason we stress budgeting for everyone, but especially for individuals. Budgeting is the best way of knowing how much money you have to spend and how much you might have left over for things you need out of the ordinary or things you might want to buy or do.
Unfortunately, too many people go about their business without a budget. They create too much debt because of their credit cards unnecessarily instead of saving some of it for an emergency. They spend their money without thinking on a lot of frivolous things. We understand; who doesn’t want nice things? Continue reading Don’t Go To A Payday Lender… Ever!→
I know a lot of people who say that if the IRS owes them money that they don’t file their taxes. Some of these folks are owed literally hundreds, even thousands of dollars. I can’t comprehend why they wouldn’t want their money, but from an accounting perspective it’s still a bad idea not to file yearly and on time.
One fact is that if you’re sure you don’t owe taxes, you’re exempt from filing by the yearly deadline. The magic word there is “sure”. If you file later in the year or the next year and they calculate that you indeed owed something, you’ll not only earn a penalty but it’ll be calculated monthly for every month you were delinquent. The rate won’t be the same each month either; the balance will compound like a credit card. Continue reading Not Filing Taxes When You’re Owed Money Is A Bad Idea→
Accounting & Financial Advice from the Syracuse NY area
