AI Financial Management: 3 Powerful Solutions for Small Business Owners in 2025 AI is changing how small businesses handle their finances. New tools make it easier than ever to manage money, track metrics, and make smarter decisions. Let’s explore three powerful ways small business owners can use AI to transform their financial management. 1. Automated […] Read more “Top 3 Ways Business Owners Can Use AI to Manage Their Finances in 2025”
Start-up Blog
Many growing businesses reach a point where they consider bringing on high-level financial leadership. While a fractional CFO can be valuable, it’s essential to understand whether you’re ready for this investment and what alternatives might better suit your current needs. Small Business Financial Management: Starting with Bookkeeping and Accounting Before considering advanced financial leadership, you […] Read more “Fractional CFO vs. Bookkeeper: What Your Business Really Needs For Financial Success”
Welcome to ‘The Ultimate Guide to Real Estate Investing: How to Maximize Profits and Build Your Wealth.’ Whether you’re a seasoned investor or just getting started, this comprehensive guide will equip you with the knowledge and strategies to make smart investment decisions in the lucrative world of real estate. Investing in real estate can be […] Read more “The Ultimate Guide to Real Estate Investing: How to Maximize Profits and Build Your Wealth”
If you’re seeking accurate information about Form 1099-NEC, you’ve come to the right place. This comprehensive guide explains everything about nonemployee compensation reporting, from filing requirements to deadlines. Whether you’re a business owner or independent contractor, we’ll help you understand your tax obligations and show you the most efficient way to handle 1099-NEC forms. Understanding […] Read more “Understanding Form 1099-NEC: The Complete Guide for Businesses and Independent Contractors in 2025”
A capitalization table, commonly known as a “cap table,” is one of the most crucial documents for any business. Whether you’re a startup founder, investor, or employee with equity compensation, understanding cap tables is essential for making informed decisions about your company’s future. In this comprehensive guide, we’ll break down everything you need to know […] Read more “The Complete Guide to Capitalization Tables: Understanding Your Company’s Ownership Structure”
When it comes to managing healthcare expenses and planning for the future, Health Savings Accounts (HSAs) offer a powerful and versatile solution. For high-net-worth individuals and business owners in Illinois, these accounts are not only a practical way to cover medical costs but also a strategic tool for tax savings and financial growth. Let’s dive […] Read more “Understanding HSAs: A Smart Way to Save on Healthcare”
As a small business owner in Chicago’s dynamic entrepreneurial landscape, planning for retirement while maximizing tax benefits is crucial for your financial future. If you’re self-employed or run a small business with no full-time employees (besides yourself and possibly your spouse), a Solo 401(k) plan could be your ideal retirement solution. Let’s explore why this […] Read more “Solo 401(k) Plans: The Ultimate Retirement Solution for Chicago Small Business Owners”
Last Updated: December 2024 The IRS has announced major changes to Form 1099-K reporting requirements for 2024, lowering the threshold to $5,000. Whether you’re a small business owner, freelancer, or gig worker, these new tax reporting requirements will affect how you report income from PayPal, Venmo, Cash App, and other payment platforms. Key Highlights of […] Read more “2024 IRS 1099-K Rules: Complete Guide to the New $5,000 Reporting Threshold”
What is the Qualified Business Income Deduction? A Simple Explanation The Qualified Business Income (QBI) deduction, also known as Section 199A, is a valuable tax benefit introduced by the Tax Cuts and Jobs Act of 2017. This guide explains everything business owners need to know about calculating and maximizing their QBI deduction in 2024. Quick […] Read more “The Complete Guide to Qualified Business Income (QBI) Deduction: Calculate & Maximize Your Tax Savings”
Are you leaving money on the table at tax time? If you’re not taking advantage of the Qualified Business Income (QBI) deduction, the answer might be yes. This powerful tax benefit could save eligible business owners up to 20% on their qualified business income—yet many entrepreneurs overlook it. What Is the QBI Deduction? The Qualified […] Read more “The One Tax Deduction Business Owners Can’t Afford to Miss: Your Guide to the Qualified Business Income Deduction”
Managing accounts receivable (AR) effectively is one of the most important yet often overlooked aspects of running a successful business. For business owners focused on growth and sustainability, understanding the direct link between AR management and cash flow can mean the difference between thriving and merely surviving. What Are Accounts Receivable and Why Do They […] Read more “Why Managing Accounts Receivable Is Crucial for Your Business’s Cash Flow”
For startups in Chicago’s bustling entrepreneurial ecosystem, from the innovation hubs of the West Loop to the tech corridors of River North, managing finances effectively can make the difference between success and failure. Professional bookkeeping services aren’t just a luxury – they’re a crucial investment in your startup’s future. Here’s why Chicago startups need to […] Read more “Why Chicago Startups Need Bookkeeping Services”