If you are like many small business owners, you don’t have a choice but to “DIY” your finances.
Often when you need help from a finance professional, you don’t have the funds to pay for it.
I’ve compiled some of my must-have digital products for business owners, in order to teach you what you need to know and help you DIY.
Write-offs
Write-offs are expenses that you can deduct from your business income in order to reduce your business’ taxable income.
This is such a tricky question, because what one business can write-off may be completely different than another!
To learn more and understand what your business can write off, download my guide below:
Value Pricing vs. The Billable Hour
Many service-providers bill their customers by the hour.
This method causes a revenue ceiling for you and cost uncertainty for your customers.
Consider Value Pricing as an alternative! The following guide walks you through the process of implementing value pricing in your service-based business:
Capitalization of Expenses
While some write-offs are immediately deducted from your business’ revenue to arrive at your taxable income, others need to be capitalized.
Capitalizing expenses essentially spreads the cost of items across multiple years. Items requiring capitalization are above a certain dollar threshold and have a useful life longer than one year.
See tools below to learn more about this concept and calculate depreciation on your capitalized assets.
