Are you a freelancer or independent contractor? Perhaps you hired one to provide services for your business? If you fall on either side of the spectrum you need to understand Form 1099-NEC. Form 1099 NEC, requires business owners to report payments to non-employees starting in 2020. Prior to 2020, business owners reported these payments on […]

Contrary to popular belief, tax season is a year-round experience. Although the deadline is April 15th for most people (3/15 if you have a partnership or Scorp), the IRS and the state that you operate in actually expects you to make quarterly estimated tax payments throughout the year. Here is a helpful link on when […]

Contractors and employees come with different benefits, but understanding the difference and what is best for your business can be the difference between growing your team and a knock on your door from Uncle Sam. According to the Harvard Business Review, 10-20% of employers misclassify at least one employee. Believe it or not, misclassifying employees […]

The heart is one of the body’s most essential organs. One can argue that the heart is the most important as it sends oxygen and nutrients to all other parts of your body and works incredibly hard to keep you alive. As it relates to your business, I truly believe that your finances are the […]

According to Investopedia, a recession is defined as a significant, widespread, and prolonged downturn in economic activity. While there may be several leading indicators that may point to a recession – such as increased layoffs at big Tech companies or even changes in consumer spending behaviors – the truth of the matter is that we […]

Do you struggle to make financial decisions in your business because you lack clarity on what your business can and cannot afford? Despite your business bringing in revenue every month- are you scratching your head because your monthly bank statements have you questioning where all your money went? Do you scramble every year during tax […]

Let’s face it- when you’re an entrepreneur- planning for the day you retire is likely the last thing on your mind and not your biggest priority. You left your “good 9-5” to build the business of your dream. You traded in “stability” and a steady paycheck for autonomy over your life and no ceilings to […]

Key performance indicators also referred to as KPI’s represent the critical indicators of progress towards a goal. KPIs “provide a focus for strategic and operational improvements, create an analytical basis for decision making and help focus attention what matters most.” One of the reasons I started the Blk Report was because I recognized that many […]

For many small businesses owners, wearing multiple hats comes with the territory. Of all the roles small business owners are probably taking on in their business, managing the financial side is probably one of the most challenging for many reasons. A lot of times, what I see is that many small business owners are hyper […]

In many cases, most people start a business because they found something they are wildly passionate about or highly skilled in that they want to share with the world, they are seeking freedom and autonomy from the traditional 9-5 or some combination of both. Does this sound like you? You’ve experienced a tremendous amount of […]