7 Ways to Find the Perfect Price for your Service-Based Biz

7 Ways to Find the Perfect Price for your Service-Based Biz

Pricing your service-based business can be tough. Probably one of the hardest things you will have to do. If done right, it shapes how profitable your business will be. If you charge too low, you’re selling yourself short. If you overcharge your services based on feelings and unicorns, you will quickly be slapped back down to earth. 

As a bookkeeper, I love making numbers into a story for others. But I face the same problems with pricing my bookkeeping services. You have to figure out things like what is your perceived value to potential clients? Will I back down if someone who I thought was my target market thinks that I charge too much. If I accidentally charge too little for a recurring service, what will happen once I raise my prices? I gained the experience, right? 

Why Google for Work is the Bomb for Streamlining Your Business!

 Why Google for Work is the Bomb for Streamlining Your Business!

Are you a tech junkie and have at least 2 or computers that you work from? I love my iMac because it is and forces me to stay productive (or at least believe I am!). Since the El Capitan upgrade, the split screen capability is a life-saver for bookkeeping work! 

my old school MacBook Pro is great for travel. Or if I’m getting some work done between waiting for dinner to finish.

I’s great to have more than one computer. It's also a burden trying saving the same project on two different computers simultaneously. What happens when you forget or don’t even have an extended hard drive?! This became so annoying!... Until I started to use Google Apps in my business. 

5 Expenses You Never Knew Were Not Tax Deductions

5 Expenses You Never Knew Were Not Tax Deductions

In a previous post, I talked about 10 tax deductions entrepreneurs tend to miss. These tax deductions were common things that cause entrepreneurs to leave money on the table every single year! Leaving money on the table is never good. Documenting things incorrectly that can potentially bite you in the butt in a year…. And for sure may be worse!

When you set up your systems on the accounting process in your business, you always win. You can do your accounting on spreadsheets or cloud-based accounting systems. My favorites are Xero, QBO, Freshbooks, and Wave. You get into the groove of thorough documentation in using any one of these systems. 

When DIY’ing your own books correctly (I have training for that), you understand what valid expenses are. You also know the amount to deduct from things that are partially deductible. When it’s time to delegate your bookkeeping, your accountant/bookkeeper is the number one person to go to. They help you understand how to properly organize these write-offs. 

Today I want to talk about 5 things bloggers and entrepreneurs, unfortunately, cannot write off. Even though we all wished at some point they were tax deductible. They may or may not come at a surprise to you. They also may or may not be annoying, to say the least. 

How to Regain Clarity on Your Business After Personal Mishaps

 How to Regain Clarity on Your Business After Personal Mishaps

There are so many reasons why you start your business. You wish to start living your passions in life, serve the people that matter the most to you, or set an example for your family (Hi Liana!). There is constant talk about work-life balance and not letting the work that you do transcend to your personal life.

What if it’s the other way around? What if something substantial that happens in your personal life greatly affects your business?

You may start to forget your why. You ask yourself If your business is even worth it anymore when the dust settles. You think about the time that it took away from your business and if things would be ok when you start things back up. 

This happened to me not too long ago (and I'm still going through some changes). I was at a point of worry in life, and my business was just on the back burner. I wasn’t doing much marketing to attract new clients. I was definitely not producing any blog posts.

What if it’s the other way around? What if something substantial that happens in your personal life greatly affects your business?

10 Tax Deductions You Never Want to Miss as an Entrepreneur

10 Tax Deductions You Never Want to Miss as an Entrepreneur

Most business owners start their entrepreneurship journey because they found out that society has been misleading. A 9-5 no longer means job security! People of great professions and educational backgrounds have been laid off. Struggling to find the nextjob to support their family. Then something happens. You are up all night, thinking about your passions, aspirations that you now have the chance to live out. You yearn to pursue life on your own terms. You desire to make it on your own, build security with your business. 

When you reached a point in your business where you’re more than breaking even, you may have been guilty of overpaying your taxes. Tax season headaches begin with ill or nonexistent bookkeeping in your business when your business starts. Without proper documentation, you will not be receiving any refunds... Or you may be gifted a hefty tax bill!

What if I can tell you in a simple blog post how to avoid missing out on real cash come tax time. As a virtual bookkeeper, I help online business owners like you, ensure that you never miss out on tax deductions. I relieve the stress and apprehension of you commingling your personal and business expenses. I also ensure proper reconciliation on all of your tax deductible expenses. I even attach the appropriate invoice/receipt to each transaction. This way, you'll do what you do best while remaining confident of the financial health of your business!