5 Vendor Management Tips for Startups

Let’s face it: you can’t always hire an employee for every job that needs doing in your small business, and sometimes it makes more sense to outsource to a vendor in the first place. Vendors can be a huge asset to getting your startup off the ground, from saving money to forming long-term business relationships. That being said, there are some slip-ups that can occur in vendor management. We’ve collected…  Read more

The 2020 Insurance Checklist for Your Small Business

If you own a business, insurance coverage is important. The right coverage will keep you protected from minor mishaps—and major mishaps that could wipe out your company’s assets in one claim. Seeking out proper insurance policies is also important because your business may have industry-specific circumstances that require specialized insurance. It pays to be covered. Even before something happens, you might be asked for proof of insurance by lending institutions,…  Read more

When to Outsource Accounting for Your Startup

When to Outsource Accounting for Your Startup | Chastain Partners If you’re a small business owner, you know what it’s like to juggle it all—product development, marketing, sales, bookkeeping, networking—maybe you still feel like you’re juggling even after you’ve started adding employees to your team. But as a business grows, owners usually find that, although they had a hand in every aspect of their company at the start, their time…  Read more

Quick Tips For Reading Your Financial Statements

Let’s face it, financial statements aren’t always straightforward. We’ve got some tips for you to make reading them easier. There are four main financial statements:       balance sheets       income statements or profit & loss statements       cash flow statements       statements of shareholders’ equity  Balance sheets show what a company owns and what it owes at a fixed point in time,…  Read more

Managing Cash Flow: Why You Can’t Trust Your Bank Balance

Monitoring your cash flow is vital to running a stable business. Owners who don’t stay on top of their cash flow often find themselves scrambling when it comes time to pay their employees and vendors.  The disturbing feeling of being one (or more!) steps behind can be avoided with a good strategy for predicting cash flow.   A common mistake small business owners make is to look at their bank balance…  Read more

PPP Loans: The Forgiveness Process

  PPP Loans: The Forgiveness Process | Chastain Partners Let’s talk about Paycheck Protection Program loans. If you’re reading this, you have likely received a PPP loan under the CARES Act and would like to know how to receive loan forgiveness. The government has updated rules with more flexibility as of June 5th.  What to know when applying for PPP loan forgiveness: The coverage period is 24 weeks during which…  Read more

Your Simple Guide to R&D Tax Credits

What are R&D tax credits? R&D tax credits, or research and development tax credits, allow qualified businesses to deduct the cost of research and development from their taxable income. This is a big help for small businesses.    When you see the words “research and development” you may be thinking of super-scientific product testing and white lab coats, but it’s important to know that in today’s economy, a lot of R&D…  Read more

What To Do If You Missed This Year’s 1099 Deadline

In our last post we talked about the benefits of hiring freelancers for small businesses. If you’ve already been hiring contract work, though, you might be familiar with the process of filing 1099s. And if you’re only familiar with this process because you just learned you’ve missed your deadline to file them, this post is for you. First of all, don’t panic. If you missed the January 31st deadline, you…  Read more

Five Tech & Accounting Trends for Small Businesses in 2020

congerdesign / Pixabay   We’ve made it almost a full month into the new year. But this isn’t just a new year, it’s a new decade. Whether it’s about catching up, or getting a leg over the competition, here are five tech and accounting trends for your small business in 2020:    Becoming Mobile-Friendly Every new smartphone is more capable than the last, and they can be handy on both…  Read more

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