The Blaize Accounting Blog
The Importance of Regularly Updating Your Financial Plan
Review your financial plan quarterly at minimum, with a deeper annual overhaul, and update it immediately any time a major event changes your revenue, costs, or cash position: a lost contract, a new hire, a funding round, or a shift in the market. A financial plan built once and never revisited stops reflecting your business within a few months. Here’s the review schedule we recommend to clients, the specific events that should trigger an update…
The Real Cost of Not Having a Business Financial Plan
Operating without a financial plan costs a business real money: unexpected cash shortages, missed growth opportunities, weaker odds of getting approved for funding, and decisions made on gut feeling instead of numbers. Gallup research found that 71% of business owners have no business plan at all, and those without one report revenue growth at roughly half the rate of owners who have even an informal one. Here’s exactly where that gap shows up in your…
Exempt vs. Non-Exempt Employees: What Small Business Owners Need to Know in 2026
Exempt employees are paid a fixed salary of at least $684 a week and are excluded from overtime pay under the Fair Labor Standards Act. Non-exempt employees are entitled to overtime at 1.5 times their regular rate for any hours worked over 40 in a workweek, regardless of whether they’re paid hourly or salaried. Getting this classification wrong is one of the most common and expensive payroll mistakes a small business can make. Here’s how…
How to Choose Accounting Software for Your Business
The right accounting software fits how your business actually operates today, has room to scale as you grow, and doesn’t lock you into hidden fees or a system your team refuses to use. Whether you’re moving off spreadsheets or replacing a system you’ve outgrown, here’s the decision framework we walk clients through, covering the factors that actually matter and the ones that get overlooked until they cause a problem. What should you evaluate before choosing…
Cash vs. Accrual Accounting: Which Is Right for Your Small Business?
When it comes to managing your finances, one of the most critical decisions you’ll make is choosing between cash and accrual accounting methods. Understanding the difference between cash and accrual accounting can make a huge impact on your bottom line. So, let’s dive in and break it down in simple terms. Cash Accounting: Keeping It Real Cash accounting is like keeping tabs on your wallet. You record transactions when money changes hands. So, if you…
The Importance of Issuing Form 1099s
As a small business owner, you’re likely juggling numerous responsibilities, from managing day-to-day operations to ensuring compliance with various regulations. One essential aspect of financial management that can’t be overlooked is issuing Form 1099 to recipients by the due date. Why it’s crucial First things first, what exactly is Form 1099? Well, think of it as a way to report income other than wages, salaries, and tips. If your business paid someone over $600 in…
Get Ready for Tax Season
Essential steps a business should take near the beginning of the year to get ready for the tax filing deadline.
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