In this week's Balancing Act, we discuss the #1 bookkeeping tip that will make your life easier, we find out why this recession is more like a "she-cession", and we discuss one of the craziest stories I've ever heard when it comes to financial news.

How to Know What's Driving Your Profit

My goal is to empower you, as the business owner, with the information that is RELEVANT to you to help make your business a success.⠀⠀As the business owner (freelancers, 1099 employees, CEOs...I’m talking to all of you!), you and only YOU are responsible for making the right decisions for your business. ⠀⠀Your trusted advisors (think CPA or Bookkeeper) are very valuable, no doubt. But they are not immune to making mistakes. ⠀⠀Therefore it’s up to you to have a basic understanding of what questions you should be asking! ⠀⠀The buck stops with you. At the end of the day, It’s your table that needs the food.⠀⠀So as PAINFUL as I know it can be, it’s so important that you have a basic understanding of taxes and financial statements. ⠀⠀Think about it...you more than likely exercise and try to eat healthy foods to help maintain your personal health. You have to maintain the health of your business as well! And having this knowledge is an essential part of being able to diagnose problems or identify what is working best for your business! ⠀I’m on a mission to empower you!⠀You have nothing to lose and everything to gain, because knowledge is power!⠀