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Author: Jake Snelson

Is a Digital or Print Planner Best for Your Small Business?

We’ve already talked about why setting goals is critical to the success of your business. Now it’s time to make those goals a reality. Planning is the only way you’ll reach them.

Antoine de Saint-Exupery said, “A goal without a plan is just a wish.” Now that you have a SMART goal, you need to find the best way to achieve it. Planners can help you see where you are at with your goal, what needs to be done and can help you take the steps needed to get there.

Everyone has a preference when it comes to digital or print planners. We’re going to break down the benefits of each to help you determine which is best for you and your small business.

Benefits of digital planners

Digital planners are a great option for the businessperson who comes up with ideas all the time, or someone who needs access to their schedule 24/7.

Benefits of a digital planner:

Convenient: You’ll almost always have a planner with you because you can access it from your phone, tablet or computer.
Reminders: Setting reminders in your planner can help you keep track of where you should be at on a project.
Gather information: Most digital planners can access other apps or calendars so you can keep track of your schedule and events.
Appointments & to-do lists in one: Most print planners make you choose between an appointment or to-do list format, but digital planners can allow for both.
Can share with team members: If you want the whole company to be in the know, you can share your calendar or list with them. This is also great for department projects.

There are a lot of options for digital planners on the market. Some planners are only available on iOS or Android, so make sure you choose a planner that works with your phone and tablet before you get completely invested.

Benefits of print planners

Traditional, or print planners, are a great tool for people who need a physical list in order to stay on top of their projects.

Benefits of a print planner:

Good for your brain: The act of putting a pen to paper stimulates your brain and helps you clear your mind and think outside the box.
Set it up your way: With a variety of planners on the market you can choose the right layout for yourself, or you can make your own – no tech skills needed.
Sense of accomplishment: People who like to make lists and write things down, usually enjoy crossing things off those lists. Print planners allow you to cross tasks off, which increases your productivity.
Easy to use: Print planners are very basic. There isn’t a learning curve and you can easily jot down reminders or tasks quickly without having to search for an app.

Before buying a print planner get an idea of what you’re looking for. Do you want a to-do list style or do you prefer to break your day up by time? Find a planner that meets your needs, because you’re going to invest in it for a year. If you can’t find a planner that is everything you want, try bullet journaling. It gives you complete control over your planner.

FAQs: Choosing Between Digital and Print Planners for Your Small Business

Why is planning important for achieving business goals?

Planning is crucial because it turns your goals into actionable steps. Without a plan, goals remain just wishes. Planners help track progress, identify necessary actions, and guide you toward reaching your goals.

What are the benefits of using a digital planner for my business?

Digital planners offer convenience, 24/7 access, reminders, integrated information from other apps, combined appointment and to-do lists, and the ability to share schedules with team members. They are ideal for businesspeople who need constant access and collaboration.

What are the advantages of using a print planner?

Print planners stimulate brain activity through writing, allow personalized setups without tech skills, provide a sense of accomplishment when crossing off tasks, and are simple to use without a learning curve. They are great for those who prefer physical lists.

How can I decide which type of planner is best for my business?

Consider your workflow and personal preferences. If you need constant access and enjoy digital integration, a digital planner might be best. If you prefer writing things down and enjoy the tactile experience of crossing off tasks, a print planner might suit you better.

Are there specific features I should look for in a digital or print planner?

For digital planners, look for compatibility with your devices, app integration, and sharing capabilities. For print planners, choose a layout that matches your needs (e.g., to-do lists or time-based schedules) and consider customizing options like bullet journaling for complete control.

Goal Setting & Achieving for Small Business Owners

As a small business owner you wear many hats. You oversee your business, work with clients, and you are in charge of continually moving your company forward. You can’t allow yourself to live life without a purpose or everything will fall apart. In order to have a balanced life, small business owners must learn how to set goals.

Why we should set goals

As a small business owner, you need to determine where your business is going. Do you want to grow? Stay the same? Without solid goals it’s impossible to determine if you’re heading in the right direction.

Another benefit of goal setting is that it can simplify the tough decisions. Because you know where you and your business are headed you can easily determine which paths will help you reach your destination.

Now, all you need to do is learn how to set goals and achieve them.

How to set SMART goals

In order to achieve your goals, you need to come up with a comprehensive plan. There are many methods to help you set goals, but the SMART method is great for helping you see your goal all the way through.

The SMART model has you analyze your goal so you can set better goals. When writing your goal make sure it is:

Specific: Be exact in what your goal is. If it’s too vague you won’t be able to accomplish it.
Measurable: How will you define success? You need to be able to track your goal so that you can see progress towards it.
Attainable: It’s great to dream big, but make sure that you aren’t over reaching. If you do feel like your goal is unattainable, set smaller goals that will help you reach your final goal.
Realistic: Do you have the time, resources and knowledge to accomplish your goal?
Time bound: How long will this take you to accomplish? If you don’t see any progress towards your goal you are more likely to give up. Set deadlines and stick to them to accomplish your goal before you run out of steam.

How to achieve your goals

You will never accomplish your goals without devising an action plan, no matter how great of a goal it is. Small goals are just as important, maybe even more important than, the big goals.

To achieve your goals you need to break them down into actionable steps. Use the SMART method to make smaller goals that will lead you to your ultimate goal. Set due dates and evaluate where you are at consistently.

If you’re planning goals for the company, then get your entire team on board and involved in setting them. When the whole company is involved they feel more invested and will do their best to help.

Goal setting doesn’t have to be a huge production with flow charts and extensive tracking. It’s meant to lead you to success. When you feel overwhelmed by your goals, take a step back and see what you can accomplish quickly that will help re-motivate you and your team. Then pursue that goal fearlessly.

FAQs on Goal Setting & Achieving for Small Business Owners

Why should small business owners set goals?

Setting goals provides direction for your business growth and simplifies decision-making processes by outlining clear objectives.

What is the SMART method for goal setting?

The SMART method emphasizes setting goals that are Specific, Measurable, Attainable, Realistic, and Time-bound to ensure clarity and effectiveness.

How can I ensure my goals are achievable?

Assess whether your goals are realistically attainable based on available resources, time constraints, and your capabilities to ensure success.

What steps can I take to achieve my goals effectively?

Break down your goals into smaller, actionable steps using the SMART method. Involve your team in goal-setting and maintain consistent evaluation and progress tracking.

Is goal setting a complex process?

Goal setting should be purposeful and motivating, not overwhelming. Break down goals into manageable tasks and involve your team to foster motivation and productivity.

How to Give this Holiday Season

The holiday season is one of the best times of the year to help those in need. Opportunities to help others seem to be around every corner. Holiday giving is great because everyone benefits from it. You have the opportunity to help people who need it and your donations are tax deductible.

What contributions are tax deductible?

There are many different ways you can give to charities during the holidays. The most common ways are through cash donations, gifts, service (a time donation.) When you “donate” your time it isn’t tax deductible, but you can deduct any mileage that you used. Cash donations and gifts are tax deductible; it’s best to keep a record of how much you gave, or the cash value of your gift, so that you can deduct it.

If you plan to claim your donations on your taxes, make sure you ask for a receipt from the charity you’re giving it to.

What organizations can I give to?

Before you make a donation to a charity you’ll want to do research and find out which charities are legitimate and how they use their funds. A good rule of thumb is to choose a charity that spends 20% or less on administrative costs. That means that 80% of the profits benefit the cause directly.

In order to get a tax deduction for your charitable donation you have to give to a charity on the IRS’ list of exempt organizations. The IRS states that the following are all qualified:

A sate, local or national government or political party if made exclusively for public purposes;
A community chest, corporation, trust, fund, or foundation, that is organized and operated exclusively for charitable, religious, educational, scientific, or literary purposes, or for the prevention of cruelty to children or animals;
A church, synagogue, or other religious organization
A war veterans’ organization
A nonprofit volunteer fire company
A civil defense organization
A fraternal society, operating under the lodge system, but only if the contribution is to be used exclusively for charitable purposes;
A nonprofit cemetery company if the funds are specifically dedicated to the care of the cemetery as a whole and not a particular lot or mausoleum crypt.

What do I count as personal donation vs. a business donation on my taxes?

As a small business owner, you should be sure to differentiate if you are making the donation on behalf of your company or from yourself. The biggest difference is where the funds come from.

Business donations should not come from your personal accounts. Make sure that you use money from your business accounts so that you can deduct it from your business taxes. There is generally more flexibility in what counts as a charitable contribution from businesses, but be sure to check with your accountant before you claim anything.

When you are ready to claim your donation on your taxes, have your accountant see if you will get more money through an itemized deduction the standard deduction. It can be more beneficial to claim the standard amount in some cases

While tax deductions are a great benefit to charitable giving, it shouldn’t be the only reason you give. Tony Robbins, a multimillionaire, life coach and author said, “Only those who have learned the power of sincere and selfless contribution experience life’s deepest joy: true fulfillment.”

FAQs: How to Give This Holiday Season

What contributions are tax deductible during the holiday season?

Tax-deductible contributions include cash donations, gifts, and certain expenses related to volunteer service, such as mileage. Keep a record of all donations and obtain receipts from the charities to claim these deductions on your taxes.

What types of organizations can I donate to for tax deductions?

You can donate to various organizations such as charities, religious organizations, war veterans’ organizations, nonprofit volunteer fire companies, and certain government or political entities. Ensure the charity is listed on the IRS’ list of exempt organizations to qualify for a tax deduction.

How do I differentiate between personal and business donations on my taxes?

Personal donations come from personal accounts and are deducted from personal taxes. Business donations should come from business accounts and are deducted from business taxes. Always use the appropriate account for the donation and consult with an accountant for accurate tax filing.

What should I consider when choosing a charity to donate to?

Research charities to ensure they are legitimate and effectively use their funds. A good rule of thumb is to select charities that spend 20% or less on administrative costs, meaning 80% of donations go directly to the cause. Verify the charity’s status on the IRS’ exempt organizations list.

Should tax deductions be the main reason for charitable giving?

While tax deductions are a benefit, the primary reason for giving should be to help others and make a positive impact. Sincere and selfless contributions bring deeper joy and fulfillment, as noted by Tony Robbins.

4 Forgotten Tax Deductions for Entrepreneurs

As a small business owner you have a lot on your mind and taxes often seem like a burden that’s only there to hurt you. If you want to keep more of your hard-earned money in your pocket, you need to educate yourself about small business tax deductions. A lot of business expenses can actually be written of as tax deductions. Are you using these four forgotten tax deductions?

Advertising

Advertising is crucial for small businesses; however, it can be very expensive. Luckily, advertising costs are tax deductible. In order to deduct them you must keep track of your advertising costs.

Ads on these platforms are all tax deductible.

Social Media ads (Facebook, Instagram etc.)
Google Adsense
Billboards
Newspapers and Magazines
Television and Radio
Influencer campaigns

The cost of running the ad isn’t the only deductible expense. These 20 Common Advertising Expenses are also tax deductible.

If you’re a Vyde client the best way to keep track of your advertising expenses is to upload your invoices, bills and receipts. We’ll keep track of them and make sure you get tax deductions for them.

Asset depreciation

You probably claimed new assets or purchases as tax deductions, but did you know you can continue to claim them as asset depreciation deductions? According to the IRS, “Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property.”

It’s best to meet with your accountant to discuss which of your assets qualify because the list changes from year to year. A Certified Public Accountant will be up to date on what you can deduct and can help you receive a larger return.

Business meals

Are you taking a client out for lunch or grabbing take out because your team is working late again? You can deduct 50% of the cost of the meal when it is specifically business related.

The key to getting use out of this deduction is to keep track of your expenses. You should do more than just save the receipt for business meals. Track the meal, who it was with and why it was business related in a journal; that way if you ever need to prove that it qualifies you have the records to back it up.

Continuing education

Some small business owners need training to help them improve or grow their businesses. Going to conferences, taking courses or exams can count as tax deductions. The IRS has two requirements in order to qualify.

The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer.
The education maintains or improves skills needed in your present work.

Education that is required for your current position or qualifies you for a new trade or business cannot be counted as deductible. Because you are self-employed you must make sure that the education is bettering your business in order to have it qualify.

If you want to learn more about what you can deduct as a small business owner, check out this post on 5 (more) Commonly Missed Small Business Tax Deductions.

FAQs About Forgotten Tax Deductions for Entrepreneurs

What types of advertising costs are deductible for small businesses?
- As a small business owner, you can deduct various advertising expenses, including ads on social media platforms (e.g., Facebook, Instagram), Google Adsense, billboards, newspapers, magazines, radio, television, and even influencer campaigns. It’s important to track these costs and save receipts for tax purposes.
Can I deduct the depreciation of assets I’ve purchased for my business?
- Yes! You can claim asset depreciation as a tax deduction. This allows you to recover the cost of assets over time, such as equipment or property used in your business. The IRS provides an annual allowance based on the wear and tear of the property, and it’s important to consult with your accountant to identify which assets qualify.
Are business meals deductible?
- Yes, you can deduct 50% of the cost of business-related meals, such as client lunches or team dinners. However, you must keep detailed records of the meal, including who was present and why it was business-related, to ensure it qualifies for a deduction.
Can I deduct the cost of continuing education for my business?
- Yes, continuing education expenses like conferences, courses, and exams can be deducted if they are directly related to improving or maintaining your skills for your current business. The education must serve a legitimate business purpose, such as helping you stay current in your field or enhancing your business operations.
How can I keep track of my advertising and other business expenses for tax purposes?
- The best way to track your advertising and business expenses is to save and organize receipts, invoices, and bills. If you’re a Vyde client, you can upload these documents, and we’ll help you track and ensure you’re maximizing your tax deductions for these expenses.

Show Them You Care: Employee Gift Ideas For Every Budget

The holiday season is the perfect time to show your employees how much you appreciate their work and support. Depending on how many employees you have it might be better to do a group gift, like a party, rather than individual gifts. However, an individual gift shows each employee just how valued they are.

There are affordable gift ideas for every price point; even if it means you’re handmaking something for your employees. Just be sure not to go too cheap. It makes employees feel less valued when they can tell you care more about profits than them.

Download the employee gift guide printable here.

How to Protect Your Small Business From Theft

Theft is a major issue for both online and brick-and-mortar businesses. Some types of theft have been around for ages, while new attacks are always popping up, especially due to the Internet. It’s important to protect your business, yourself and your employees from any type of theft. Shoplifting, employee fraud and online threats are the most common types of theft in businesses. Continue reading to learn what to look for and how to prevent these types of theft.

Shoplifting

Shoplifting is the most common type of theft brick-and-mortar shops face. While it’s virtually impossible to eliminate shoplifting there are ways you can decrease it. Keeping an organized store is a great tool because you can easy to notice when something is missing. It’s also critical to train your employees to be on the lookout for shoplifters. These are some common places shoplifters hide merchandise:

Shopping bags from another store
Bags or purses
Strollers
Umbrellas
Clothing, especially large coats

Security measures like installing cameras can help you spot shoplifters and stop them before you lose anything. For more inexpensive ideas on preventing shoplifting check out this article.

Employee fraud

When you bring employees into your business you’d like to believe they would have you and your business’ best interests at heart, but that isn’t always the case. The best way to stop employee theft is to have a thorough hiring process that not only gives you an idea of someone’s skills but shows their level of integrity. No matter how well you interview your potential employees, those who are going to commit fraud are usually skilled liars and may trick you into thinking they are trustworthy.

A 2014 study on fraud and abuse by the Association of Certified Fraud Examiners (ACFE) warned employers to look for certain red-flag behaviors. The first tip was to listen for employees who are boasting about living above his or her means because they may be taking home more than what you’re paying them. On the flip side, employees who are constantly talking about their financial hardship may be looking for a way to bring in more money, even if they have to do it through theft.

Online Threats

Businesses in any sector are liable to online threats. In fact, in 2015 43 percent of all cyber attacks targeted small businesses. Most hackers send an email asking for the user to enter information, click on a link or download a file. When the user does any of these things it gives hackers access to the server and allows them to steal money or even personal information. Data breaches also affect your employees and customers, so it is crucial to keep your information safe.

The best way to combat online attacks is, again, through training. Teaching your employees what to look for and that they shouldn’t open, click through or download any type of suspicious email is the first step. Most hackers will target the employee over finances for the company. Make sure whoever is in that position has special training and is especially careful about what emails they open. You should also create an action plan on how your company deals with any attacks.

There are different laws and regulations on what to do if your business has a data breach. Learn more about what you are required to do and the best practices if you are hacked here.

Other posts that might interest you

Improve Your Online Presence Part 1: 8 Steps for Reviewing Your Website

Improve Your Online Presence Part 2: Perform a Quarterly Social Media Audit

Improve Your Online Presence Part 3: Contact Information & Review Sites

4 Low Cost and Low Risk Ways to Grow Your Team

Planning Your Summer Marketing Efforts Part 1: Who, What, When, and Where

Planning Your Summer Marketing Efforts Part 2: Celebrating Holiday and Events

Planning Your Summer Marketing Efforts Part 3: Cheap Advertising Tips

How To Attract the Right Talent For Your Company

Quick Money Management Tips to Build Your Business

Plan for Holiday Success by Hiring Seasonal Employees

How to Create a Succession Plan for Your Small Business

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12 Ways to Say “Thank You” to Your Clients This Thanksgiving

When you’re running a successful business it’s easy to praise yourself for your hard work and dedication; and it’s easy to forget to say “thank you” to the people who have made you a success: your clients. Thanksgiving is the perfect time to show your clients how grateful you are for their loyalty. The best part is that expressing your gratitude doesn’t have to be expensive.

With these 12 quick, easy, and inexpensive ideas you can show gratitude for your clients this month:

1. Write a personalized note. In an increasingly fast-paced and technology-driven world, handwritten notes are becoming a lost art. A personal note shows your client that you took the time to think about them specifically. Try this guide if you are having a hard time putting your feelings into words.
2. Invite them to party with you. This idea may be more costly, but if you have it in your budget, host an event at your business. It doesn’t have to be anything extravagant–order a sandwich tray and some punch and get the party started! Send out invitations asking your clients to stop by and enjoy lunch on you.
3. Send them a treat. Everyone loves receiving a nice Cookie tin and they’re perfect for a small budget. Other popular treats are fudge, meat and cheese trays, fruit baskets, gourmet candy, and freshly baked bread. Have them delivered to your client’s office before they’re bombarded with goodies in December.
4. Share your knowledge, free of charge. Your clients come to you because they trust you and want to learn from you so share your expertise. Whether it’s an email newsletter, helpful hint on social media or printable checklist, customers love useful information about the service or product they’re purchasing. The best part is that you can do this for free!
5. Reward them with a coupon or gift. Get in the gift-giving spirit this year by offering a discount for your goods and services. Design the coupon with a gratitude theme for that extra holiday touch.
6. Acknowledge special occasions. If you know about a client’s business anniversary or special occasion for them, send them card congratulating them or wishing them well.
7. Share your favorite book. Is there a book that has changed your life? Share your favorite inspirational and thought-provoking book with your clients. Be sure to include a handwritten note or bookmark in the cover. You may even think about sending different books to different clients so that it is more personalized.
8. Make them laugh. If you have a creative mind on staff, have them step up and create a funny and personalized client gift or message. One idea: Photoshop your client into a famous movie poster, rename it something clever and email the picture with your note of “Thanks for your business!”
9. Start a loyalty program. Nothing makes people feel more valued than getting a special discount or extra perk by shopping with you. If you haven’t already, start a loyalty program that gets customers excited about continuing their business with you.
10. Show them off to everyone you know. Tell everyone about an outstanding client in your newsletter or social media page. Offer free publicity by linking to their website and giving a quick shout out about how great they are.
11. Discount their bill, for no reason. We’re heading into a financially stressful time of the year, surprise your clients with extra savings. Slash their monthly bill or offer a discount at the register, just because you appreciate their business.
12. Most importantly, show them that you care through excellent customer service. Being kind goes a long way. Actively look for new ways to make your clients experience better. It will elicit positive reviews and bring them back for more. It’s the perfect win, win situation.

10 Ways to Make Your Real Estate Business Better

Running your own business is hard work, especially when you’re focused on helping other people find their dream homes. The last thing you need hanging over your head is the worry of small business bookkeeping and accounting. Knowing the best financial practices for realtors, real estate agents, real estate brokers and property managers can help you to do things right the first time and end up saving you time, money and a headache.

These 10 articles will give you a great place to start and we’re always here to help if you have any more questions about your business.

How to Track and Separate Business and Personal Expenses as a Realtor or Real Estate Agent

The line between business and personal are easily blurred, especially when you use things like your car or cellphone for both. Find out the best practices for separating your personal expenses and your business expenses.

How to Legally Structure a Real Estate Partnership or Agency

Do you know the difference between a general partnership, limited partnership and a limited liability company? Find out which is the best fit for you and how to go about setting it up.

The Top 10 Tax Deductions for Realtors and Real Estate Agents

Running your own business is expensive; make sure you know how to get the deductions you are entitled to. When you know what deductions to look for you can make the best use of your time and money.

What You Can and Cannot Deduct for Advertising Your Real Estate Business

The best way to get your name out there as a realtor is through advertising. You know you can deduct your business cards and Internet advertisements, but what about giveaways or promotional products?

Top 4 Tips on Tracking Mileage and Deducting Vehicle Expenses as a Real Estate Agent

You have a lot more vehicle deduction options than just counting milage from driving clients around. Find out the best ways to get the most money for your miles.

6 Ways to Save Time and Money on Bookkeeping and Accounting as a Realtor or Real Estate Agent

Bookkeeping and accounting are one of the most important aspects of running your own business. Do you know the difference between the two and are you keeping up?

How to Calculate Self-Employment Taxes for Real Estate Professionals and Agents

One of the best parts of being self employed is being able to work as much or as little as you want; however, making sure you’re taking out your own taxes isn’t as alluring. Make sure you pay Uncle Sam right the first time around.

How Do I Figure My Estimated Quarterly Taxes? For Realtors, Real Estate Brokers, and Property Managers

The IRS considers realtors, real estate agents, brokers, and property managers as self-employed, and therefore; are subject to pay quarterly taxes. Do you know how to calculate them?

How to Develop an Exit Strategy for Your Real Estate Agency Partnership

While things with your real estate partner may seem to be going great right now you never know what life is going to throw at you. Take time to plan an exit strategy for both your benefits.

How to Develop a Succession Plan for Your Real Estate Partnership

As your business grows and develops you should have a plan that helps you assess who could become a leader within your partnership. Consider all who will be affected by your decisions.

How Long To Keep Important Financial Documents– And a Free Printable

Have you ever wondered how long to keep important financial documents such as receipts, bank statements, and credit card bills? If you’ve got a big box of papers that you don’t know whether they’re important or not, you’re not alone! Here is a quick method to use for an organized system of keeping receipts for the recommended amount of time. Use this printable in your office and reference it when you organize your papers.

It’s important to remember that the IRS recommends keeping tax-related documents for at least six years. An audit can be performed up to six years after filing if an error is suspected, and you’ll want proof of your purchases if that happens.

Download the printable version here.

Treat Yourself to Halloween Business Deductions

Good news! You don’t have to wait until Christmas to start taking advantage of holiday business deductions. If done right, you can write off all of those Halloween goodies from your small business bookkeeping, too.

Make a promotion out of your treats. You know you’ll be buying them anyway. If not for the office staff, then for all of the cute little witches and vampires that are sure to show up at your business. Make Halloween candy tax deductible by attaching a business card or flyer promoting your business.
If you’re really in the spooky spirit this year, order candy with your logo on it. An even better way to promote your business and still have something for trick-or-treaters. This company will do it for you and have it delivered before October 31st.
Treat your current and potential clients. They’re undoubtedly overloaded with goodies during the Christmas season, but sending a box of chocolates in October may stick in their mind better as an early (and unexpected!) surprise.
Donate your leftover Halloween treats. Charitable organizations with 501(3)c status like Operation Gratitude and Soldiers’ Angels collect leftover Halloween candy to include in care packages for soldiers. They are two of many 501(c)3 organizations on the IRS-approved list to donate tax deductible charitable goods. Always be sure to check the IRS list before claiming your donations are tax deductible, as status can change. Read more about that here.
Throw a party. You can deduct a portion of a Halloween party if the party is to conduct or promote business. Typically this looks like an open house of some sort where you mingle with current and potential clients, play a few Halloween games, give out candy and treats, and discuss business.

Vyde is a licensed accounting firm (CPA) based in Provo, Utah, and members of the AICPA. We provide professional accounting services to businesses and individuals, with a focus on small business bookkeeping and taxes.

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