Advice: Let's Get Fiscal (Tax Season Tips For Businesses)

10/24/22 • 28 min

This week, we are joined by CPA Anthony Ricci as we discuss his best pro-tax tips for your small business to end your 2022 year strong. We dig into understanding the tax implications of your small business entity selection. The best software for your bookkeeping and why bookkeeping data is critical to use as a snapshot of your business's current financials and how to use the projects to make adjustments. We uncover many common tax deduction mistakes — what's a true deductible vs. what isn't. Understanding financial reports and how to utilize them to guide your business to success. We even find out this account's favorite type of ice cream, so don't miss this sweet episode

Previous Episode

Advice: The Power of People in 2023 (Human Resources)

In this week's episode, Erica sits down with Natalie Delmage from Insperity, an industry leader in providing human resources services to businesses of all sizes. Many business owners are scratching their heads, trying to figure out how to build and retain a talented workforce as we approach 2023. This topic has challenged many businesses over the past three years. Don't believe the headlines, people want to work, but they want to work where they feel valued and part of the bigger picture. You have a massive advantage if you can move the right talent into the right seats on your "bus." Your business must invest in providing a great human resource department if you have employees, whether you do it in-house or hire out to have help in the back end of your business. Today we are not talking about the paperwork, although essential, but the resources of people; once you have found great talent, how do you keep them and grow them to be leaders in your company and your community? One important point is happy, professional, trained employees make happy, repeat customers. Tune in and find out more in this week's episode of Practical BizZ.

Key Points

Grow your employees into your business, not out of it
A great onboarding process is critical for setting people up for success.
Employe with diversity in mind
Understanding where your employees are at this stage in their life
Company culture matters
Provide opportunities for people to try new things within your business. Both parties might be surprised by what talents you will find.

Next Episode

Advise: 7 Tips to Build Vendor/ Wholesaler Relationships to Launch Your Business Success in 2023

Special Episode: Hello RI Vendors & Artists !!! This episode is for you if you are a small business owner looking to enter the retail or wholesale market or expand into new spaces to sell your products and services. This month we are lucky to be working with 40 amazing artisans and vendors for our upcoming holiday event. During our Happy Holiday event, we will welcome up to 400 shoppers and offer networking opportunities with business owners in the retail, wholesale, or consignment spaces. I understand that many handmade artisan-type businesses often use vendor fairs, consignment stores, and online shopping platforms to keep overhead low while trying out different product launches with a small capital commitment.

In today's economy, this is smart business on the wholesale side; you must remember that retailers have to compete with many more shopping options than in the past. They will be looking for the best products, sales support, marketing help, and better pricing and timelines from suppliers. Solid relationships and smart strategies come into play to keep your business profitable. No matter what route you decide in 2023, these seven tips can help you increase your sales, market your brand more effectively and consistently, and create strong relationships that continue to feed your referrals and demand for your products and services.

Seven Key Points