Business Discussions

Hello all!   I own a Landscaping company and was wondering if I could just get some opinions/advice on 1099's. Is it better to put my employees (5) on a regular payroll, where taxes are taken out and a check is drafted up  or  should I issue 1099's at the end of the month, 3 month, 6 month or yearly and have them be incharge of their taxes.       (Title modified by editor for clarity)

When you run your own business, being financially “literate” means knowing exactly what you own and what you owe, setting and sticking to a realistic budget and saving every month for your retirement – and a whole lot more besides. Whew.   It’s not easy keeping up with all the learning and decision-making around countless money matters. Tell us:   What tools or strategies do you rely on to boost your financial literacy so you can run your business as efficiently and effectively as possible?   Do you rely on an accountant with superpowers? Webinars from your favorite financial guru? A Magic Eight Ball (we hope not!)?  Please share your secrets to boosting your financial literacy.   Want to learn more about financial literacy? Here are three posts you might enjoy. Financial Literacy Basics When You’re Just Starting Out Financial Literacy Basics When You’re Planning for Retirement 4 Ways Accountants Can Put Financial Literacy in the Spotlight Bookmark

Names: Jill Brown, Executive Director & Lauren Lynn, Community Engagement Coordinator QB Community member name: @257197 Organization: Northwest Kidney Kids Launched: 2006 Kidney disease isn’t curable, and families of children with kidney disease will spend months at a time in the hospital, followed by years of managing daily treatment. It’s exhausting and scary, which is exactly why such families need support from people who understand what they’re going through. Northwest Kidney Kids, an Oregon-based non-profit, connects families affected by kidney disease at their annual summer Kidney Kids Camp. This important event is free thanks to two yearly fundraisers -- a gala ball and a fun run. Jill Brown and Lauren Lynn are especially suited for working at NW Kidney Kids  because they both have young children with kidney disease. We spoke with these two women at the start of National Donate Life Month to learn more about planning fundraisers and the very important reasons why

Our very own QB Community business guru Julie Gordon White (@201192) knows a thing or two about helping small companies succeed. After all, she grew her own service business to $5 million and has since helped thousands of women entrepreneurs significantly grow their businesses, too.   Julie offered some valuable (perhaps even priceless!) tips and insights during a Reddit AMA (Ask Me Anything) session. Here are five Qs and As we think our QB Community members will appreciate. 1. Present yourself as premium to charge premium prices   wabiguan: I'm a graphic/web/anything designer, plus I do hand lettering. I have trouble justifying my rates to customers. Do you have any advice on selling the VALUE of creative services? It’s definitely a weak spot in my salesmanship. I believe the issue is the perception that I create things from "nothing,” so it’s less obvious to the customer what my overhead costs are. How do I explain that just because I can draw a snazzy logo on a napkin in

    As independent workers who make a living through self-employment, it makes sense that we save for retirement on our own, too. Logical, sure -- but figuring out how to save for your own retirement can be a  daunting endeavor. Fortunately, there are savings and investment plans specifically tailored for people who work for themselves.   If you’re already saving your hard-earned dollars for your golden years, we give you huge props. However, if you’re in the one-third of small business owners who don’t save for retirement, we have some solid options to help you start saving for tomorrow.   There are four main accounts that self-employed people can use to save for retirement: a Roth/Traditional IRA, a SEP IRA, a Solo 401k and a Personal Defined Benefit Plan (there are other types of accounts, of course, like the SIMPLE IRA for small businesses with up to 100 employees, but we’re focusing on these four today). Here’s what you need to know about each one. Roth/

In the last few weeks we’ve had the privilege of profiling the 26 awesome women you see above for Women’s History Month. From artists to business owners, inspirational speakers to consultants, all of these women got real about their strengths, challenges and inspirations. We thank them for sharing their insight and wisdom with our QB Community. Here’s a round-up of a few of our favorite quotes from their profile articles. Julie Ball, owner of Sparkle Hustle Grow, on the loneliness of being an entrepreneur: “In my first few years of self-employment, I felt like I was working on a desert island. I knew a lot of solopreneurs get lonely, so when I started discovering these communities filled with other female entrepreneurs who wanted to collaborate and lift each other up, it was a life raft for me.” @mrsjulieball   Leane Reelfs, co-owner of Helming’s Auto Repair, on being a woman in an industry dominated by men: “Having a woman owner puts some people at ease. But not everyone feel

  Whether you’re newly self-employment or have been your own boss for a while, you’ve probably got taxes -- quarterly and otherwise -- on your mind. And well you should: Although we’d all rather spend our time building the business we’re passionate about, we still have to pay Uncle Sam regularly along the way.   That’s why we asked QB Community member Lynda Artesani, a bookkeeper and a QuickBooks Certified ProAdvisor, for her top insights and tips on dealing with self-employed taxes. 1. Understand what the self-employment tax is   Self-employment tax (SE tax) is simply Social Security and Medicare tax for individuals who work for themselves. If you were employed traditionally, your employer would contribute half of these taxes, and the other half would be withheld from your paycheck. When you are self-employed, you are responsible for paying the whole amount.   You can figure out your estimated SE taxes by using an accounting program to calculate your ongoing i

Name: Desiree Wood Business: Trucker (owner/operator) and founder of Real Women in Trucking   Founded: Driving and advocating since 2007 When Desiree Wood started training to become a professional truck driver, her goal was simple: The single mom of two grown kids (and grandma to six) wanted to work hard and make a solid, dependable living. Desiree was homeless when she set out to earn her Commercial Driver’s License (CDL), and she was more than willing to spend both her days and her nights inside an 18-wheeler.   Imagine her dismay, then, when she discovered her chosen industry was rife with problems. Deeply concerned about everything from unsafe training standards, anti-trucker legislation and widespread hostility toward female drivers, Desiree turned her anger into action. Since 2007, she has launched Real Women in Trucking to give information and support to female truckers, created a series of video tutorials for beginning and seasoned women drivers and has built a stron

Sad but true: Stay-at-home moms (SAHMs) are half as likely to score a job interview compared to moms who’ve been recently laid off, according to a new study. “People viewed both unemployed applicants and stay-at-home applicants as less capable than continuously employed applicants, perhaps thinking their skills had become rustier while they were not working,” the study’s author wrote in the Harvard Business Review. “Respondents viewed stay-at-home parents as less reliable, less deserving of a job, and — the biggest penalty — less committed to work, compared with unemployed applicants.” At the same time, women are starting their own businesses in record numbers - many of them post-baby. Because we all know how much easier it is to strike out on our own when we’re “less committed to work.” Hmmm. In fact, there’s a very strong argument to be made that the experience of Chief Mommy Officer better prepares women to tackle new business challenges. But I am not going to make that argument. I

I live in Boca Raton - Florida - & need help - with a good accountant ! as I'm still figuring out how to use Quick Books Self Employed - is there someone local - that could help me - get my 2017 taxes done?  -  in time by the deadline ? of April 15th? - the accountant, Josh  - that helped me with my 2016 taxes - has not returned my phone calls - since the beginning of March - when I got a letter - that I faxed to him from the IRS - and his secretary - just point blank  - told me - Josh - your accountant  -  is too busy to help you with the IRS penalty letter - you got for the $98 in Penalties and Late charges - that were submitted - to you - & that because of the way - that Josh did my 2016 taxes  - that's what you got. - His secretary - told me - I should just pay the penalty fees and I will have to wait - to get my 2017 taxes done.  This is my last year - before - I turn 65 and my husband turned 65 last year - & Josh, the

  As a new business owner, it’s easy to feel overwhelmed by everything you need to know – and, sometimes, everything you don’t yet know – about your finances. That’s why we congratulate you on making this stop on your journey to financial literacy. We know managing your money may not be fun or easy, but it’s critically important to your business success.   How critical? According to JP Morgan, 75% of small businesses in the United States only have enough cash on hand to operate for 30 days, and one-quarter are just two weeks (or one payroll cycle) away from bankruptcy.   Don’t be intimidated by these grim statistics. Instead, let them motivate you to better understand and control the financial health of your business.   Know your three key financial statements Business owners have plenty of paperwork to keep track of on a daily, weekly or monthly basis. But you need just three financial statements to see the complete picture of your business’s financial health. Th

April is National Financial Literacy Month (FLM), but for entrepreneurs, every month is the perfect time to think about how to better understand your finances. As a small business owner, pretty much everything else comes second to accurately tracking every penny you generate or spend.   A brief history of FLM Financial literacy is important for everyone, not just people who work for themselves. In fact, in 2003, Congress asked President George W. Bush to declare April Financial Literacy for Youth Month (which he did). By 2006, FLM had been redefined as a priority for the whole country (not just for our youth), with a goal of helping Americans of all ages better understand things like how to save for retirement, manage credit or make smart investments.   As an entrepreneur, the more “literate” you are about all aspects of your finances, the better chance you have of running a successful, growing business. Throughout the month, we’ll be highlighting some important fundame

  When you work for yourself, you know cash is critical to the short- and long-term success of your business. As an entrepreneur, being financially “literate” includes understanding how much money you need to get your business off the ground, as well as to build and grow it. But for many of us, finding and securing those precious funds is overwhelming and stressful. Even worse? You can spend so much time and energy figuring out how to raise money that it takes away from the joy of actually running your business.   The good news is there are multiple funding options for you to consider. Before you start trying to secure financing or raise money, you need to know exactly how much you need today -- and how much you think you’ll need in the future.   Understand your needs If you’ve already developed a business plan (if you haven’t, you probably should), you’ll have a solid understanding of how much money you need to get your business up and running and to keep it going. Her

I'm doing some compliance work with a larger (not big 4) accounting firm. I'm on the client side and finding their collaboration platform to be a pain. Anyone else experience this? Do any firms have better software tools than what I'm dealing with?

Name: Fabienne Wente Business: The NU Creative Founded: 2008 When Fabienne Wente was a kid, her mom encouraged her to “get her hands dirty” by trying all manner of creative endeavors, from art classes and crafting workshops to computer science and technology courses. At the same time, Fab (her preferred nickname) was an active member of the Girl Scouts learning all sorts of do-it-yourself (DIY) skills -- including how to tie some really excellent knots. Fast forward to today, when Fab puts that diverse learning to use as an innovative graphic designer specializing in the intersection of high-tech computer graphics with low-tech print and paper arts. These days, Fab works for an independent advertising and social media agency in LA and devotes evenings and weekends to building her own graphic design business, The NU Creative. By all accounts, Fab’s multimedia work is fresh, fun and colorful. And sometimes, it all hangs together thanks to a few well-tied knots. Fab, your work incorporat

Everyone has a secret "if only" list of things they'd do with their business - if only there were more hours in the day or dollars in the bank. What's at the top of your list right now, and what do you think is holding you back?

Hello fabulous QB Community! Does any one have an incredible trustworthy Wordpress developer they work with? I'm in dire need! Or someone that can do a deep dive into my site and offer suggestions of what might best benefit my site?  I'm looking for some insight into how to upgrade/manage a 'Build Your Own' option as well as streamlining shipping.  Please note, I just got site redone on Wordpress, so am not wanting to jump to another other platform right now. Unless, anyone has a brillant reason why I should. :) Many thanks in advance!Warmly,Joanna

  Name: Erin Williamson QB Community member name: @258370 Businesses: Pier Coffee and Engender International Location: Seattle, WA Launched: Pier Coffee in 2014 and Engender International in 2017  Seattle-based entrepreneur Erin Williamson believes in supporting women workers, and she absolutely puts her money where her mouth is. As the owner of Pier Coffee, a cold-brew coffee company, she sources her beans from woman-owned or operated farms. And as the co-founder of a nonprofit called Engender International, Erin works to protect and promote women at every stage of the supply chain. We spoke with Erin about both her businesses, operating a mission-driven company and why economic stability is so very important for single moms and women in developing countries. Erin, what did you do before you worked for yourself? I have worked for myself for years, but previously I worked for nonprofit arts organizations. In college I studied Central Asian art history. Although I lov

What is better for application development?

I used to review time sheets and run payroll for about 20 staff on four separate teams. Our onsite GM (general manager) set an early day-of payroll deadline so he could go over our figures and have it done by 10:00 am.   I had to be very strategic with my time. We had a huge site, so chasing down employees that potentially needed timesheet corrections that morning was a chore, to say the least. I typically did my time sheet reviews the night before, in anticipation of the inevitable "day of" disasters in the cafe - essential production items, like ovens, had a habit of breaking on payroll day. Being in the back office made me a target for one-off questions, which broke my concentration and prolonged the task.   So, to get it all done as quickly as possible, to avoid distractions, I did my rounds of the cafe first thing in the morning and then set a 15-minute no-call window. I told my team to ask my fellow cafe manager if they had questions, shut off my phone and hid

What is Business Intelligence and how does it work?

  Throughout March’s Women’s History Month, we’ve been celebrating female entrepreneurs. We’ve highlighted the tremendous growth of woman-owned businesses in the last two decades (up 114%!) and profiled some amazing female go-getters. While there’s no doubt women entrepreneurs have come a long way, baby, there are still plenty of obstacles on the road to achieving equal representation and opportunity - but these strategies can help.  Mind the funding gap The 2016 Small Business Credit Survey published by the New York Federal Reserve Bank found big gaps in how women’s and men’s businesses are funded and scaled:   Only 22% of women-owned firms had scaled to $1 million or more in annual revenues in 2016, compared to 36% of men-owned firms Women-owned firms tend to start small and stay small Women-owned firms are more likely to experience financial challenges and growth limits than firms owned by men 90% of women-owned firms relied on the owner’s personal credit scor

Name: Dr. Pauline Leong (@PaulineLeongOD) Business: OptimEyes Vision of LIC and Vernon Gantry Eyewear Founded: 2014 and 2016 respectively Pauline Leong, O.D., is a self-professed non-conformist. Admitting she craves “freedom on all fronts,” Pauline likes setting her own schedule and her own priorities, both at work and during her off hours. Fortunately, Pauline has always had 20/20 vision about her desire for independence, which explains why, after earning her degree, she opted for self-employment. As an independent contractor at various practices for nine years, Pauline conducted vision screenings for kids, co-managed LASIK surgery clients and worked with patients suffering from serious eye disease. Eventually, Pauline realized opening her own practice was the best way for her to keep on doing things her way. The one thing she didn’t see coming? Opening a business in Long Island City, in the heart of own her hometown borough of Queens, New York. Pauline, you’ve always worke

Name: Salif Keita Business: Oui, Oui Crepes and Pizza Founded: 2007 When Salif Keita left his native Mali nearly two decades ago, his first stop was France. His cousin lived in Paris, which is where Salif discovered melt-in-your-mouth crepes. Eighteen months later, Salif moved again, this time to Harlem, NY. He worked countless hours as a pizza delivery guy so he could “save and save and save” to start his own small business. Salif’s dedication and determination paid off. Bringing together two of his favorite circular foods, today Salif is the proud owner of Oui, Oui Crepes and Pizza. Although his days are long and he gets by without much sleep, running his own business lets Salif achieve two dreams at once. He’s officially his own boss – and he wouldn’t have it any other way. Just as important? Salif is deeply committed to giving back to his community by building a safe (and scrumptious!) haven for kids to gather when school lets out. Salif, have you always wanted to run your own s

Louisiana artist and mom Mia Kaplan of Mia Kaplan Studio has built a studio in her backyard so she can continue creating her paintings and wall sculptures and still run to meet the schoolbus at 3 PM. Her commitment to her art and to her family means pulling a lot of all-nighters before a big museum show, but the setup works for her. Here's how.     How has working for yourself empowered you to design your life around what matters most? What does flexibility look like in your home or office (or home office!)?