business owners

How to pay estimated taxes

How to pay estimated taxes

So every business and individual according to the IRS are required to pay taxes as we receive our income. I call this paying as you go. It is actually helpful in preparing for taxes at the beginning of year and for avoiding extra cost. The IRS says anyone who owe more than $1,000 in tax and has not paid taxes through out the year can be penalized and charged interest. Many of us forget, but it’s just like getting paid as an employee.

The employer negotiate your gross pay, you give permission to withholding tax, social security, medicare and you are paid the net amount. This is true for businesses as well. You are responsible to pay a 15.3% self employed tax

3 things you have to constantly do in business

3 things you have to constantly do in business

I wrote a facebook and instagram post yesterday and thought it to be blog worthy. Sometimes we miss the small simplicity of how life or business works. I hope as business owners we all have the goal to grow everyday.

The truth is, to grow in a positive direction you have to be very intentional about your life or the decisions you make in your life. I believe making the decision to go into business for myself was the best decision I have ever made. I made that decision 5 to 6 years ago and my business is just now getting off the ground. Not because I haven’t been working but because I am now reaping the rewards of my work

Success is not overnight. Even if someone made 6 figures in one year or a million in one year, most won’t share all the businesses they started and stopped. Or how long it actually took to get the courage to start a business in the first place. So I want to share the 3 B’s with you that are steps I took when I start something. Because always remember you first business is not going to be your last business. Your first product won’t be your last product. You will evolve.

3 reasons why you need to get your business organized

3 reasons why you need to get your business organized

So I want to share with you the importance of keeping your business organized. I know it can be hard and overwhelming. The truth is, you may not always be caught up on filing or caught up on your emails or due dates. However, we at least need a system so that we try to keep things in order. So I have a few questions for you. How do you want to keep your files or receipts? Do you want to scan them and keep the electronically? Are you going to take a picture and upload the file from you phone and keep it in the cloud. Or will you keep paper copies organized by year and month in a file cabinet? How often a month will you keep track of you analytics or bookkeeping? Is it daily or will it be weekly? What time and what day?