Stat of the Month: Women-Owned Businesses
From the
2020 SBA dataset: Women-owned businesses represent
42% of all U.S. businesses (about 13 million), have
9.4 million employees, and
$1.9 trillion in revenue. But nearly 90% of women-owned businesses had no employees. Nonetheless their revenue topped $229 billion.
Tax Tip of the Month
If you make estimated income tax payments, make sure you've got good records for tax time. Payments made out of the business can be categorized so they're easy to find. From your personal account, print the confirmation to PDF or snap a photo of the check you're sending in. Bonus points if you add to your
client portal.
Finance Tip of the Month
Now that we're well into Q4, this is a good time to do a detailed review of your 2024 year to date Profit & Loss and forecast where you think you'll end up for the year. Just remember that profit and cash are not the same thing. The P&L doesn't include expenses like owner distributions, loan principal payments, and large equipment purchases or injections such as owner contributions and loans, which affect your cash balance and cash flow but don't show up on your bottom line.
Essential Reads
Maximizing Your Business Loss Insurance Claims After Hurricane Helene: A Guide for Small Business Owners
Hurricane Helene wreaked havoc in Western North Carolina. Small business owners have more to deal with than just damaged property: they're also facing loss of income from disrupted operations. Read more >
Hurricane Helene Business Recovery Resources
From law firm Brooks Pierce, a comprehensive article with seven steps to recovery.
Read more >
Client Story of the Month
An accounting & tax small business client was frustrated with having to spend hours pulling and rearranging data to produce KPI reports. We helped her rearrange her Chart of Accounts so they aligned with the reporting she needed. No more Excel downloads and pivot tables required!
A Question for You
Have you started 2025 budgeting and planning? How can we help?
Until next month,
Your Red Bike Advisors Team
About Red Bike Advisors
We're on a mission to equip small business owners with finance and tax insights that create exponential value for their companies, customers, employees, and families. From compliance to advisory, we take the confusion and scramble out of business finance and tax strategy and bring in clarity, growth, and peace of mind.
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