Hire independent contractors, not employees

 Hiring employees is, so (shall we say) 20th Century.  Employees need health care, social security taxes, state unemployment, sick days, pension plan, life insurance, disability, occupational safety, and more.  A well-trained and loyal workforce also creates huge fixed costs which you will have to meet every month before you can post a profit. Therefore, structure […]
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Assets vs. Expenses

People often confuse assets with expenses.  This is because both assets and expenses use up your funds – these are things you can spend money on. Assets provide a future benefit to your business.  They help bring in future revenues and profits.  Assets appear on the balance sheet. For example, inventory is an asset. Expenses […]
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