Get Ready for Tax Season Sooner Rather Than Later

Although your mind is probably still getting over holiday mode. The year has just begun and there are already a lot of things both professionally and personally that needs to get done, especially being prepared for tax season.

 

For small business owners, it’s a great time to start thinking about taxes. Now, that may not sound as exciting as mistletoe or holiday parties and dinners was, but they’re important to starting this year on a good and organized note.

 

Organization is Key

Start by organizing all of your financial records from 2017 into one specific place. This should include your profit and loss statement, invoice history, and previous tax paperwork.

 

Arrange Your Quarterly Payments

The past payment date for your 2017 quarterly taxes is January 15th. So, take some time over the holidays to make sure that you have enough money set aside to pay your tax burden and the appropriate paperwork ready to go. The last thing you want to do is start the new year by missing your last tax payment or setting yourself up for a penalty.

 

Plan Ahead

For some small businesses, this could be the last year that you can claim a lot of small business deductions. Deductions are going to be a key part to keeping your small business afloat. Go back and look through your purchasing receipts and be prepared to deduct things from your expenses.

 

It’s the smart move to be as prepared as possible. If you have the time, reach out your accountant. Doing this before the end of the year will help ensure sure that both of you have all the information needed to do your 2017 taxes. By doing these steps and being prepared for tax season now, it will take a mental load off so that you can truly enjoy your holiday season.

 

Be sure to visit the Bullfrog Blog often for more tips on productivity, marketing and risk mitigation. While you’re here, click below to get a quote!

One Month Left of 2017, Make It Count!

There is officially one month left of 2017, let’s make it count! Now, before you go ahead and start thinking about 2018 full time, make sure you take time to reflect back on 2017.

 

Retirement Savings
With only a month left, there’s still enough time to start tucking away some money for retirement. Retirement savings may not be as attractive as paying off old debts, but it’s just as important. Retired you will thank yourself in the future. Being able to tuck away some extra dollars means that you’ll have a little extra cushion money when retired!

 

Stay in Touch
Staying in touch with past clients is a great way to keep your network warm and cozy through the holidays – it may also get you new business. There’s no need to send a fruit basket, but a friendly email or a nice card is a great way to stay in touch. Especially over the holidays, put some thought into your card. Thank them for their business, express why you enjoy working with them and mean what you say. This is a great opportunity to reach out and show them that they’re business is valued.

 

Pros and Cons
Ask yourself what went well this year? Did certain things not work? What are things that you’d like to change? The best part about looking towards the new year is taking a quick look back. Take note of the things that worked and didn’t work this year. So that moving forward into 2018 you’ll have a fresh start on all kinds of things.

Update systems, create new streams or revenue, work with new partners or let old ones go. How can you set yourself up for more success in 2018?

 

There’s still a month left of the year. Before diving into 2018, take a chance to reflect back on 2017. Make sure to have all your boxes checked, and you’ll cruise into the new year feeling refreshed and ready for success!

 

Be sure to visit the Bullfrog Blog often for more tips on productivity, marketing and risk mitigation. While you’re here, click below to get a quote!

Make 2017 Your Best Year!

Succeed Like Never Before 

It’s the beginning of 2017 — a great time to reflect on last year and plan for the year ahead.  January is a terrific time to get a head start by really making those early days of the New Year count.  Here are some recommendations to help you increase your business success, while maintaining a work-life balance.

 

Consistent and Regular Promotion

Make the promotion of your business one of the top priorities. Usually landing at the bottom of the to-do list is the consistency and regularity of promoting your small business. To attract new customers, promotion is key. A New Year’s resolution could be to hire a marketing expert, or to take some time to create a marketing plan on your own that you’ll follow through with.

 

Learn to Delegate

You can’t do it all.  When running a small business, it’s easy to lose focus when there are so many things to be doing.  Then you’re stuck wondering why you never have enough time! It’s key delegate by assigning some tasks to others.

 

Learn from your failures

Taking review and planning is crucial to growing a healthy business. It allows you to assess what worked and what didn’t, then recalibrate and set new goals. Instead of doing it once a year or once a quarter, set aside time each week to review, adjust, and look forward.  You’ll not only be avoiding costly mistakes; you’ll be more focused and relaxed.

 

Be Realistic

Goal setting is a valuable habit, only if the goals lead to success rather than distress. Determine goals that will be achievable, rather than unrealistic pipe dreams that are too far out of reach that you’ll just be frustrated in trying to achieve them.

 

Make Time for You

Maintain a healthy work-life balance by taking time to refresh and recharge yourself! When your life is all work and no play, it’s a recipe for mental and physical disaster. If you’re having trouble finding free time block off time in your schedule to “meet with yourself” and stick to it!  By applying these New Year’s resolutions throughout the year, you’ll not only feel better but have more energy to put into your business and make it the successful business you deserve!

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, sales and risk mitigation.