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What is a 1099 form? 8 Types Business Owners Should Know

Posted by Guy Ben-Simhon to Taxes

If you or your business made or received a payment during the calendar year as a small business entity or self-employed individual, you are required to file an information return to the IRS. A 1099 form is what you’ll use to communicate that income information to tax authorities and submit to your contractors so they can do the same. While you may be most familiar with Form 1099-MISC, there are actually other types of 1099s and each one has a different purpose.

 

The Best Startup Strategy: Opportunity Costs of Outsourcing vs. DIY

Posted by Samantha Black to Business

Starting your own company in a world where new businesses pop up around every corner is certainly not an easy thing to do. You have to be unique; you have to be innovative; you have to know exactly what your audience wants; you have to know the exact time of year when they are most likely to contact you… The list of things you have to know seems to be endless. Therefore, saying that becoming a fully-fledged business from a small startup is an astonishingly difficult task would be an understatement.

Understanding Your 10 Most Valuable Inventory Metrics

Posted by Megan Lierley to Accounting

Metrics equal money. This goes beyond ad impressions, website clicks, and form fills. In order to make the best decisions that impact your retail business’ bottom line, you need the ability to derive actionable insights from a full scope of business data. The first step to leveraging this data is understanding the key metrics that inform it.

The Price You Pay When You Choose the Wrong Business Tools

Posted by Alexa Lemzy to Business Advice, Business

The tools you use quickly become the backbone of any successful modern business strategy. Paired with the right team, great business tools will help your company reach its full potential. Trying to leverage the wrong ones will make it impossible for you to enhance internal productivity and increase ROI. If your tools do not deliver what you need, this is the price you will really pay.

 

How Fintech Has Opened the Doors for Small Business Funding

Posted by Jess Harris to Industry News, Funding

The prevalence and capabilities of technology have made it possible for even a 2-year-old to benefit from these innovations, but, as progress continues forward at a rapid pace, these children will one day consider our highest tech antiquated. We are in the midst of a revolution. This revolution doesn’t necessarily have to do with politics or governments either, but rather with the way business is conducted worldwide. Technology has had a tremendous effect on all aspects of our lives.  We are now more connected to the world than ever believed possible in the past. It may be hard to believe, but we are still in the infancy of technological change.

How to use working capital to your industry's advantage

Posted by Katie Alteri to Business Advice, Funding

Let’s be real – who doesn’t want to have more money available to run their small business? If you’re a small business owner, it is likely that you can think of numerous ways that your company may benefit from having additional working capital. In addition to providing peace of mind, this cushion can be used in a variety of ways, depending on your business’s industry. In this post, we’ll explore how different industries can use working capital to boost business.

Debunking The Myth of the Fearless Founder

Posted by Melissa Hollis to Inside inDinero

Some people start a business because they have an idea and others because they never imagined doing anything else. But every long-lasting business started because someone saw a problem go unresolved for too long and wanted to fix it.


The excitement of doing something new can be enticing and the sense of accomplishment very satisfying. But it’s undeniable that starting a company takes guts. So it makes sense that we many entrepreneurs touted publicly for being “fearless” and “unafraid”. In reality, a lack of fear is not what makes a good business leader. And by no means do you need to be fearless to be an entrepreneur.

6 Lurking Signs it's Time to Rethink Your Accounting Plan

Posted by Steve Kornreich to Accounting, Business Advice

If you surveyed business owners for their feelings about accounting, you’ll likely get a mixed bag of responses. While some embrace the financial world and use it as a learning tool, others dread it and think of it as a necessary evil, and then there are those who are just too terrified to check on their finances altogether. Love it or hate it, your business can’t live, let alone thrive, without a good accounting backbone so it’s important to put a solid system in place that you can trust.

How First-Year Startups Can Build a Useful Business Budget

Posted by Melissa Hollis to inDinero Academy, Accounting, Business Advice

Even before launch day one thing is certain: It costs money to start and run a business. We all intuitively know this to be true because we know that simply existing in the world (as a business or individual) comes with expenses. It is one of the biggest barriers many undercover entrepreneurs see between their current lives and their dreams. And while we all know the benefits of getting as much as bang for our buck as possible, even the smallest startups with little to no overhead and minimal cash burn must spend money to grow or stay afloat.


Just like your first steps into #adulting can be financially wobbly, so can the first year (or few years) running your own business. You might have the wisest, most experienced mentors and investors in your court, but there are going to be things that nobody can prepare you to face. Like everyone else, even the most seasoned entrepreneurial vets are limited to their own experiences and can only know so much about what the future holds for your particular startup.

So you want to be an Entrepreneur? Expectations vs. Reality with Jessica Mah & Steve Blank

Posted by Melissa Hollis to Inside inDinero, Business Advice

We’ve all had a vision so clear and perfect we can almost feel the tug of the finish line ribbon, only to have our expectations fall into a million pieces for us to pick up. To Jessica Mah, that vision was to be an entrepreneur. She never saw herself working among the masses so leading a company is something she always knew she would do. But that certainly didn’t end up the way she expected at 8, 11, 19, or 21 years old…

Success starts when you take charge of your finances.

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