Bamboo Bookkeeping Blog
Building a Continuity Plan for Your Business
Building a Continuity Plan for Your Business At the beginning of 2020, you might have thought that developing a business continuity plan was not a top priority. Or maybe you thought it was only for large businesses. Fast forward to today, and a business continuity...
Let’s Talk About Shame
Shame. Probably not a topic you would expect from a bookkeeper or accountant, right? Well I talk about shame with my clients. All. Of. The. Time. So many prospective clients of mine come in with their heads hanging down. Even my current clients still call me and start...
Tips for Getting a Small Business Loan
Here are 8 tips for getting a small business loan: Put yourself in the lender's shoes. Lenders want to see that you have good credit quality, good cash flow, a good understanding of your financial situation, are willing to use collateral such as your house, and that...
Unpaid Time for your Employees
This is a topic that doesn't come up very often, but we felt that it was important. That's the topic of unpaid vs. paid time. Meetings, training sessions, etc. are NOT paid hours when: Attendance is entirely outside working hours Attendance is voluntary Subject matter...
IRS Scams and What to Watch For
Even as a bookkeeping firm, we get several calls a week regarding a phone call or letter a client received and whether it is real or not. It's a scary thing, how good these scammers are getting. We have heard numerous horror stories about how far these people will go...
Who is on your Power Team?
Starting and keeping up a business is a lot of work. So many business owners try to take it all on themselves. They want the control to make sure their vision is in every "department." But let's be honest. There are only so many days in the week and hours in the day....
5 Steps to Starting Your Business on the Right Track
One of the beautiful things about living in this country is the "American Dream." If you are one of the many people who want to start business, you have an idea and then you aren't really sure where to go after that. I wanted to offer some broad assistance with the...
Sole Proprietor, Partnership, Corporation – Oh My!
Choosing a business entity is a discussion we have several times a week. When we are interviewing a new client, we ask what their current entity is and many times we get the response of "LLC." LLC is a state recognized entity, but not an IRS entity. There are four...
The Dangers of Commingling Funds
When we first meet with new clients, inevitably one of the first topics discussed is that of commingling their funds. What exactly is commingling of funds? When the business owner uses their personal checking account to not only pay for business expenses, but also to...
Employee vs. Contractor
Business owners cannot do everything by themselves and eventually need to bring in some help. The question we then get asked the most is whether they should pay this person as an employee or a contractor. Business owners try just picking, which of course leads to...
Free Guide
Are you looking at hiring a bookkeeper? Download our FREE Brochure “6 Things to Think About Before Hiring a Bookkeeper.” Learn what to look for and what questions to ask before making that decision.