Money
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Tory Johnson’s Spark & Hustle 15-City Tour
Last year I attended the Tory Johnson’s Spark & Hustle business seminar in Los Angeles, California. Erin Condren had told me about the event about two months prior during our phone interview. She told me she had seen great success with her product sales after being featured on Good Morning America Tory Johnson’s program that features entrepreneurial moms and their products. She said Tory invited her to be one of the featured speakers and recommended that I attend the Los Angeles event. I don’t normally attend these type of events, but after doing some research about Tory Johnson and the Spark & Hustle seminars she created – I figured this just might be the push…
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Basic Bookkeeping Systems For Your Home-Based Business
Business Bookkeeping for Your Home-Based Business (Part 2) As we work our way through the holidays, it’s a good idea to set up your bookkeeping for the coming year. This way, when you start your business activity for the new year you will be all set to keep track of everything. A basic bookkeeping system for a home based business can be as simple as a notebook or as complex as accounting software. It’s best to keep it simple, at least at first. Get a notebook. You can get a spiral bound book so that you don’t lose pages. I would recommend a book with two sections…
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How To Stay On Budget This Holiday Season
How To Stay On Budget This Holiday Season I know I said that we would start to look at home-based business bookkeeping systems, but I’d like to take a quick break and talk about the holidays. This is a very stressful time for most people. One of the biggest stressors is the cost. So, how can you get what you need and still stay on budget? I have a few ideas: Make a List! First, make a list (I love lists) of all of the people you need to purchase gifts for. Next, make a list of other things you need to buy. Do you need or want any…
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Business Bookkeeping for Your Home-Based Business (Part 1)
Business Bookkeeping for Your Home-Based Business (Part 1) Now that you have decided to start your own home-based business (I think you were crocheting blankets in our last example) you need to set up a few basic procedures to ensure that your recordkeeping is complete and accurate. You do not need an accounting degree to accomplish this. Keep Seperate Bank Accounts: My first piece of advice is to get a separate bank account for all business activity. This is vital. This is important even if your business is set up as a sole proprietorship; essentially YOU are the business. Many home-based business owners believe that since the money to…
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Money Matters: Business or Hobby?
Is My Hobby Really A Business? “Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.” (IRS Pub FS-2007-18, April 2007) You have been crocheting blankets for years. It is a relaxing activity that you really enjoy. People have offered to pay you to make one for them. You think, “Why not?” Do you intend to start making blankets (or other items) for a profit? Or, do you just want to have your friends reimburse you for the cost of the materials? If you don’t intend to make a profit from your sales then you are engaging in…
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Why Should I Reconcile My Bank or Credit Card Statements?
Why Should I Reconcile My Bank or Credit Card Statements? I often come across new clients who say, “I have money in my account at the end of the month; why do I need to reconcile the account?” Well, for starters, if you don’t reconcile the account(s) you will have trouble creating that budget that we talked about. Also, if you are a victim of fraud, you won’t necessarily know unless you at least review the statement. Finally, if you are a business owner, reconciling the statement ensures that you have taken all of your expenses into account so you won’t miss out on any tax deductions.…
