Bowen Arrow Financial Service

09/05/2026

Have each contractor complete Form W-9 so you have important details such as:

- Legal name or business name
- Federal tax classification
- Address
- Taxpayer Identification Number, such as an SSN or EIN

You’ll also want accurate records of how much you paid each contractor throughout the year so you can determine whether a 1099 is required.

Have questions about getting ready for 1099 season? Comment below!

Follow our page for more practical bookkeeping and business finance tips!

09/04/2026

They’re related, but they don’t always mean the same thing.

Not every dollar your business spends is automatically deductible, and some purchases may need to be deducted over time rather than all at once.

Keeping your books accurate and your expenses properly categorized makes it much easier to see where your money is going and prepare for tax time.

Need help keeping your business expenses organized and tax ready?

Book a call using the link in our profile or comment "tax" below to learn more about our services.

09/03/2026

Break even is the point where your revenue covers your business costs. You’re not losing money, but you’re not making a profit yet either.

Knowing your break even point can help you:

- Set realistic revenue goals
- Price your services more confidently
- Understand how much you need to sell
- Plan for profit, not just revenue

Not sure what your numbers are telling you?

Let’s get your books organized so you can clearly see where your business stands.

Book a call using the link in our profile or comment “books” below to learn more about our services.

09/03/2026

Implement these effective financial strategies to help your business grow profits and improve financial management. ⬇️

- Regular Financial Analysis: Conduct periodic financial analysis, such as monthly or quarterly reviews, to identify trends, track expenses, and discover opportunities for cost-saving and revenue growth.

- Accurate Expense Tracking: Ensure meticulous tracking of all expenses, including small ones, to identify areas where you can cut costs or optimize spending.

- Budgeting and Forecasting: Create detailed budgets and financial forecasts to set clear financial goals and measure your business's performance against targets.

- Identify Profitable Products/Services: Analyze your product or service offerings to identify the most profitable ones. Focus on promoting and expanding these offerings to maximize revenue.

- Manage Accounts Receivable: Stay on top of accounts receivable to ensure timely payment from customers. Implement strategies to reduce late payments and improve cash flow.

- Monitor Profit Margins: Regularly assess your profit margins for each product or service. Identify ways to increase margins through pricing adjustments or cost reductions.

Ready to streamline your financial processes? Book a call today and see how we can help!

https://calendly.com/bowenarrowfinance/accounting-bookkeeping-consultation

09/03/2026

Smile if you offer group dental insurance! If not, watch our video to learn how costs can add up for a family of four, and how you can help protect your employees.

vimeo.com

09/02/2026

How do I qualify for a business loan?

Lenders typically look at your credit history, time in business, revenue, cash flow, and financial records to determine if you qualify.

How much can I borrow for my business?

The amount depends on your business's income, cash flow, existing debt, creditworthiness, and the lender's requirements.

What documents do I need to apply?

Most lenders will ask for:
- Financial statements
- Business tax returns
- Bank statements
- Profit and Loss Statement
- Balance Sheet
- Business plan (for some loans)

Having accurate, up to date financial records can make the application process much smoother and improve your chances of approval.

Thinking about applying for a business loan? Let us help you get your books organized and your financial reports lender ready.

Book a call using the link in our profile or comment "books" below to learn more about our services.

09/02/2026

Feeling a little out of your routine?

Here are some simple tips to help you get back into a routine and refocus on your goals.

What’s one thing you want to accomplish this week?

09/01/2026

If you use your personal vehicle for business, be sure you're using the correct rate based on the date the miles were driven.

Due to rising fuel prices, the IRS has increased the standard business mileage rate for the remainder of 2026.

Updated business mileage rates:

January 1 to June 30, 2026: $0.725 per mile

July 1 to December 31, 2026: $0.760 per mile

Need help keeping your business expenses organized and tax ready?

Book a call using the link in our profile or comment "tax" below to learn more about our services.

09/01/2026

We’re almost through Q3 and heading into the final months of 2026, so now is the time to focus on your year end goals and prepare for upcoming deadlines.

This month, take time to:

- Review your August numbers
- Get your books up to date
- Review your year end revenue and profit goals
- Check your cash flow
- Start looking for a bookkeeper and tax accountant now
- Plan for year-end deadlines

What’s one business goal you’re working toward this September?

08/31/2026

Don't focus on looking successful. Instead, focus on building a financially healthy business.

Here's how:

- Track your expenses from day one
- Price for profit, not just to win clients
- Track your cash flow every month
- Separate your personal and business finances
- Don't wait until tax season to organize your books

What's one piece of advice you'd give someone starting a business today?