Business · April 08, 2024

Starting or expanding a small business brings critical financial decisions, notably choosing between a business line of credit and a bank loan. Each option serves different needs: lines of credit offer flexibility and repeated access to funds, ideal for managing cash flow or unexpected expenses, but often come with higher interest rates. On the other hand, bank loans provide a lump sum with lower interest rates, suitable for significant, one-time investments but lack borrowing flexibility.

Business · March 22, 2024

Selecting your business successor is more than a choice—it's a future-defining moment. Ensure your legacy flourishes by steering clear of common yet critical mistakes in the process. It's not just about replicating your leadership style but finding someone with the right vision, adaptability, and ability to connect with your team. Dive deeper into how to make this pivotal decision without compromising your business's future. As your trusted LIFTed Business Advisor, let me guide you through a sea

Business · March 15, 2024

As tax season rolls in, it’s crucial for small business owners to navigate the complexities of tax filing with precision. This blog highlights three common tax mistakes to avoid: miscalculating payroll taxes, misclassifying employees as contractors, and improperly deducting personal expenses as business expenses. With detailed examples and solutions, including the importance of clear payment policies and maintaining separate financial accounts, it provides actionable advice to ensure compli

Business · September 14, 2021

This latest phishing scam is just one of numerous threats that your company faces when it comes to digital security. In addition to scams involving stolen funds, your business is also susceptible to data breaches, hacking, network failures, and other malicious actions targeting your sensitive client and business data. So, it's best to stay in strict compliance with an ever-evolving set of federal and state laws governing data privacy to avoid any risk that may affect your business.