Posts by Preston Smith
The Start of Nimbl Staffing
A letter from Dave Olsen, CEO This is the background on how Nimbl Staffing has become what it is today. You will get a peek into why we operate as we do and where we are going in the future. The Beginnings I left an international accounting firm in 2007 to become the…
Read MoreChecklist for Deep-Cleaning Your Year-End Accounting
If you are like many small business owners/managers, you’ve maintained your books throughout the year, but you’ve saved the deep cleaning for after the end of the year. You’ve had to pay bills and collect from customers, so your payables and receivables should be reasonably current. Each month you’ve used your accounting software to do your bank…
Read MoreHow a barber (or any service provider) can avoid the boring parts of running a business
A while ago I discovered a great barber shop in my neighborhood (shout out to Dave’s Barber Shop!). As I got my hair cut I would chat with Dave, the owner, about his business. He had just graduated from barber school and started his shop from scratch. I love talking about startups! He told me that…
Read MoreW9 and 1099: Two Tax Forms Every US Entrepreneur Needs to Know About
In my last post I described the benefit of hiring contractors while bootstrapping a startup. I also explained the tax obligation that goes along with hiring contractors, which is to file a 1099-MISC form for contractors that meet certain requirements. I also mentioned severe penalties for not meeting this requirement. In this post, go into more detail about…
Read MoreDo you hire contractors? You need to know about the W9 and 1099 tax forms.
Bootstrapping entrepreneurs hire employees only when absolutely necessary. They hire to alleviate significant pain, not because they might need the employee in the future. Building a team of great employees is key to building a successful business. Every leader knows that. However, taking on the cost and commitment of employees too early can hold back…
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