Bank finance articles and tips

How do you go about evaluating your business on a regular basis? Second, do you really try to look at it from the outside, objectively, and try to improve?

The reality is that most Small Business Entrepreneurs (SBEs) don't evaluate their business on a regular basis and if they do they find all the things they are doing right and pat themselves on the back then move on. Not very smart is it? I mean, it may be motivating and it allows you to check that box that you actually did it, but it ends up not even being worth your time.

You business card is sometimes the only tool you have to remind potential employers, customers, or business partners who you are, what you are about, and how to contact you. No matter what type of business you are in, having a proper card that delivers your message clearly is very important. Many people forget that even tough we are living in a digital age, a business card is still the easiest way for you to give someone all of the information they may need to contact you for future business. These tiny cards are very important but still people continue to make a few common mistakes in designing and printing their cards. To help you avoid flaws that may cause you to loose business, take a look at these common business card mistakes.

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In my experience the standard of record keeping in small businesses has deteriorated over the years with many business owners trying to maintain their own records but with little success.

So what is good record keeping according to HMRC? They have been quoted as saying that "An accurate record of business money in and business money out in whatever form...will be all that is needed to fulfil the record keeping obligations that the law requires. Good record keeping is essentially about diligence, not technical ability."

I always tell clients that it does not matter where and how they record their business transactions as long as it is complete and accurate. Today it should be easier with the raft of computer programmes but the adage garbage in garbage out comes to mind.

So what is the problem? Last February HMRC announced a Business Records Check programme where they are to review the adequacy and accuracy of the records kept by 200,000 small and medium sized firms over the next four years.

The purpose of this article is to think about the value of networking and the opportunities it can help provide. It takes time out of your already busy working schedule but if you invest in networking opportunities, the rewards can be great. Networking is generally done by people who are conscious about looking after their career progression and thinking about where there next career move might come from. More often than not in large organisations when promotion opportunities become available, someone is given a call and 'invited' to apply. This is probably because they have some good contacts in the HR department or they have been networking with the recruiting manager hoping a job might become available.

Networking can lead to opportunities for career advancement by making contacts with people in other areas of the business and even outside the business by attending industry events and forums. If you are keen to progress in your career, building a strong network around you is essential.

One of the basic steps executed with every tax return is determining if there are enough deductions to itemize. The standard deduction is used when total itemized deductions comprise a smaller amount. However, some deductions are really adjustments to income that do not require itemizing.

Teachers, people who moved, divorcees, and individuals repaying student loans are entitled to deduct certain items from taxable income without itemizing. There are about a dozen of these tax-deductible adjustments. In such cases, tax preparer jobs involve taking both the special adjustments to income plus the standard or itemized deductions.