Money Monday

Tin Shingle Featured in FitSmallBusiness for Managing Personal & Business Expenses

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Happy Money Monday!

For a recent article at FitSmallBusiness, the advice of Tin Shingle's owner Katie Hellmuth Martin was featured at FitSmallBusiness alongside tips from other business owners and financial professionals.

Loan Personal Money to Your Business Only When Necessary
 
From the article...

"Are you financing your business from your personal funds? You may do this only when necessary – but you have to ensure that you loan the money to your business and log this to your accounting software as a business loan. Monitor how much your business has borrowed from your personal funds, and ensure to set a strict payment timeline for your business to pay the money it owes to your personal account."

That money can add up! You want to be sure to pay yourself back. The nice thing about paying yourself back is that you have money moving back into your personal bank account that isn't marked as a salary. But don't wait too long on your repayment, or you may need to pay interest on that loan.

Be sure to check with your accountant first to make sure you are in accordance with all tax law.

Tin Shingle's Financial Templates You Will Love

EXPENSE & INCOME TRACKING TEMPLATE
Are you afraid of using a bookkeeping software like Quickbooks or Freshbooks? Fear not! Tin Shingle has designed for you something simpler using Excel. While we highly recommend for you to use Quickbooks or Freshbooks, you can take baby-steps in the meantime with our Expense & Income Tracking Template. Accountants and bookkeepers love Excel, so they will love when you send them your expenses and income in this template. Make tax time a lot easier on yourself!
Get This Template Now >


CLIENT PROJECT TIME TRACKER
Do you have a structured way of tracking time and project management for your clients? Tin Shingle built you a shortcut with our Client Project Time Tracker template. Save your brain by using this template! Your team and clients will thank you for your efficiency.
Get This Template Now >

Happy Money Monday! Here Are Money-Themed Editorial Calendars Coming Up...

Happy Money Monday!

We dedicate this Money Monday to Editorial Calendars having to do with money. What is an Editorial Calendar? It's the magazine's plan for how they are putting together their upcoming issue. This is your big chance at knowing when the coveted "Best Colleges" issue is, or "Ultimate Guide to Retirement". It's your big clue and helps you create relevant pitch ideas to email into these publications. Tin Shingle Members with the All Access Pass of Membership at Level 4 get instant access to these Editorial Calendars that Tin Shingle goes out and collects for you. Makes your research much zippier!

Maybe your business is a fit for one of these themes, and if it is, you should spin yourself up an angle and come up with a great reason why a feature on your business would fit well in these print magazines!

Coming up at Bloomberg Businessweek:

  • Focus on Security
  • Focus on Small Biz/ Pursuits: Fall Fashion
  • Double Issue: Cities
  • Problem Solvers
  • Focus on Retirement/ Pursuits: Skiing
  • Focus on Manufacturing
  • Focus on Small Biz
  • Focus on Wellness
  • Focus on Cloud/ Pursuits: Holiday Gift
  • Focus on BSchools


Coming up at Money Magazine:

  • Best Colleges + Paying for College
  • Best Places to Live
  • Ultimate Retirement Guide
  • How to Make More Money in 2019
     

Sneak Peek at Tin Shingle's Editorial Calendar Database

You too could be sifting through these database for ideas. Here's what it looks like when you're looking for what we have for a particular magazine. Upgrade now to our All Access Pass of Membership at Level 4 get instant access! You can always downgrade to Level 1 Community to stay hooked in with our private community group to chat with each other.

Every week, Tin Shingle adds new Editorial Calendars and updates names in the Media Contact Database. Here's what happened lately:

New Editorial Calendars:

Natural Solutions
First for Women
Health
Arthritis Today
The Atlantic
Bloomberg Businessweek
Paste
Fortune
GQ
Inc
Men's Journal
Vanity Fair

Updated Media Contacts:

Having names of writers and editors at your fingertips makes your research that much easier. These are available to Tin Shingle Members with the All Access Pass of Membership at Level 4:
Glamour
Fast Company
Fortune
Inc.
Elle
Fortune Magazine
Men's Journal
...and others

Money Monday: e-Filing 1099s With QuickBooks Is Finally Easy!

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"Money Monday" at Tin Shingle is all about earning, spending or donating money from your business. Share your Money Monday experience or tip by submitting your idea here for consideration to be featured on Tin Shingle's blog.

Money Monday gets a gold glitter ball this week.

Every year, when prepping the books for taxes, I am so tempted to e-file the 1099s to our contract workers via QuickBooks instead of having our accountant prep them. Not that I don't love supporting another business owner! But he's going to get 3 sets of taxes to file from me, so this is chump change. The benefit, really, is the ease of use, and quickness of filing those 1099s.

QuickBooks has had an e-file 1099 option, but it's never been seamless enough for me to try. I'm error-prone, so if there is more than a 10% room for error, I abort and put it in the hands of the professionals. This year - and maybe it's just me - maybe QuickBook's platform has been the same all of these years, it's just me who grew more confident - I did it. I e-filed the 1099 through QuickBooks!

Took all of 5 minutes, after the prepping of each vendor - which consists of the following and is the same as if the 1099s were being submitted to the accountant:

  • Checking for their social or EIN number.
  • Updating their address and email.
  • Checking money totals against the actual bank transactions.

I take that back. There is one step that was new, and that was selecting the number of Accounts and Vendors that would be included in this pull for 1099s. "Accounts" means that there are different reasons that you spend money, and when you do, you select an Account to attribute how that money was spent. That part didn't take long, it was just new for me, which made me nervous, and made me remind myself not to over-create Accounts and get too nitty-gritty, but I shouldered through and selected the correct Accounts. I checked the money totals against the bank transactions, and got matches.

Once all of that was complete, QuickBooks has you review your information before entering your credit card to pay. And the price of filing is quite affordable. Not only was it pricier with my accounting firm (again, I don't mind supporting my local firm), but I didn't have to drive there to pick up and sign my approval for them to e-file (not that I mind seeing my local firm either!), and stamping them and putting them in the mail. QuickBooks puts them in the mail!

The step of filing of 1099s is often a forgotten one done at the last minute. So this is a way to help businesses not need to file extensions, and start the tax year off right!