Category Archives: Financial Literacy

Financial Friday Round-Up: February 22 – February 26, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find a guide to building good credit quickly, a piece on managing finances with your partner, a round-up of groundbreaking women in business, and more.

How to Build Credit Fast and Earn a Good Credit Score

In some cases, the effects of a “thin file” credit history can be worse than a bad credit score. Luckily, it’s much easier to achieve a good score from square one than to reverse negative credit activity. This piece from Money offers four creative ways to build good credit in a quick, low-risk manner.

Yours, Mine … and Maybe Ours? Advice for Couples on How to Handle Money

Personal finance can be hard enough to master — when you add a partner to the mix, it can feel overwhelming to navigate at first. The leading causes of fighting for couples tend to involve money, but you can avoid this fate with the right knowledge and a little communication. Check out this guide from Kiplinger for good advice on how to manage finances as a couple.

Best Tax Software 2021: TurboTax, H&R Block, and More

The tax deadline gets closer every day, but you can avoid some headaches if you find the right tax filing software. Luckily, Business Insider put together this guide to finding which tax software fits which tax scenarios best. You should still consult your tax professional, but this guide offers some services to look into as well.

Groundbreakers 2021: 50 Women Changing the World

Even in a year as difficult as 2020, there were still inspiring women who found success and served as role models for the year of rebuilding to come. Check out this piece from Worth on 50 groundbreaking women doing important work in society and blazing the trail today.

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Financial Friday Round-Up: February 15 – February 19, 2021
Financial Friday Round-Up: February 8 – February 12, 2021
Financial Friday Round-Up: February 1 - February 5, 2021

Financial Friday Round-Up: February 15 – February 19, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find a report on the women’s labor crisis, profiles of Black entrepreneurs who are changing their communities, how cashless payments came to be the new normal, and more.

‘I’m Surviving on Luck’: An Inside Look at The Women’s Labor Crisis

The pandemic has disproportionately affected women in the workforce, with many having to put their careers on hold to coordinate Zoom, school, and take up childcare duties. This Forbes article is a must-read for anyone unfamiliar with the two million women who have had to leave the labor force in the past 11 months, and the effect that has had on our labor force.

Are You Prepared for Health Care Costs While in Retirement?

Many Americans are unprepared for the cost of health care as they age, according to a recent study of U.S. adults ages 50 to 64. This piece from Kiplinger outlines what you can do to ensure you have enough to maintain your health as you age into retirement.

Cashless is Here to Stay: Why Contactless Payments Will be the Status Quo for Consumers & Businesses

One of the biggest technological changes of the past ten years has been the move to cashless payments. While skeptics at first were reluctant to accept that cashless would be the new norm, it is now clear that it is here to stay. This report from Worth paints an interesting picture of this change and its implications.

10 Business Leaders Fighting to Make the Black Experience a Permanent Part of Corporate America

For Black History Month, Business Insider profiled ten inspiring Black business leaders who are striving to lift up their communities through their work. From a venture capitalist who works for the underrepresented to a recruitment firm boosting representation of people of color in healthcare, check out this piece for ten real-world examples of how entrepreneurs can work for the benefit of their communities.

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Financial Friday Round-Up: February 8 – February 12, 2021
Financial Friday Round-Up: February 1 - February 5, 2021
Financial Friday Round-Up: January 25 – January 29, 2021

Financial Friday Round-Up: February 8 – February 12, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find a Wall Street Journal piece on LTC Insurance, a guide to taxes on retirement income, news on the youngest female CEO to ever IPO, and more.

Long-Term-Care Insurance: First, You Should Find an Agent

In a Q&A column for the Wall Street Journal, Glenn Ruffenach gave some tips to a reader who was searching for long-term-care insurance. His advice? Look for the right agent, not the right policy. Read more from his answer to learn the importance of consulting an agent when searching for the right policy and insurer.

How 10 Types of Retirement Income Get Taxed

Understanding the cumulative impact of taxes on your retirement income is one of the most important aspects of managing your nest egg. Navigating the many tax codes can be difficult, so Kiplinger put together this helpful list of ten ways retirement vehicles interact with tax laws so you can fully understand what may happen to your savings in the future.

Whitney Wolfe Herd is Taking Bumble Public as the Youngest Female CEO to Ever IPO

Only a handful of women CEO have taken their companies public, and Bumble’s Whitney Wolfe Herd is slated to be the youngest in history to IPO. Read this inspiring profile of how the former-executive from Tinder created a female-first dating app and rode it to this present success.

How Digital Learning Can Conquer The Challenge Of Zoom Fatigue

Despite being almost a year from the emergence of COVID-19, many workers are still convening over Zoom and other digital platforms on a daily basis. Forbes has a new guide on the importance of translating training materials to this new digital landscape. Readers will notice the familiarity with FFS’ Success Tracks platform; for more on the importance of this switch to digital, read this article.

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Financial Friday Round-Up: February 1 - February 5, 2021
Financial Friday Round-Up: January 25 – January 29, 2021
Financial Friday Round-Up: January 18 – January 22, 2021

Financial Friday Round-Up: February 1 – February 5, 2021

Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find advice on relieving money anxiety, one entrepreneur’s digital success story, a reading list for Black History Month, and more.

Get Rid of Your Money Anxiety in 2021

People often overlook our mental relationship with money when teaching strategies for finding financial security. It is not all about budgeting and saving, it is also about how our money influences our moods (and vice versa). This piece from Kiplinger offers some helpful advice on how to separate your money from your mind, alleviating money anxiety in the process.

How This Entrepreneur Digitally Transformed Her Business And Helped Her Customers Generate $2.1M In Revenue

This inspiring profile from Forbes focuses on the story of Bianca Robinson and how she used small steps to achieve her ambitions of starting a bookkeeping business. Read more for insight on the digital strategy that revolutionized the business she built on her own.

13 Eye-Opening Essays and Articles From Black Writers to Read to Understand America's Problems With Race

Business Insider put together this amazing reading list of writers for Black History Month to promote education, empathy, and understanding in the growing diversity of the business world. This essential list features pieces from Ida B. Wells, Ta-Nehisi Coates, James Baldwin, and many other luminaries of the Black literary community.

Life Insurance Is a Bargain for Now, so 'Grab It While You Can'

You might expect insurance premiums to have risen after a full year of a pandemic, but you would be wrong — premiums actually fell during 2020, continuing a trend that has been going for years. This piece from Money explains the reasons why now is a good time to buy and when we might expect prices to rise in the future.

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Financial Friday Round-Up: January 25 – January 29, 2021
Financial Friday Round-Up: January 18 – January 22, 2021
Financial Friday Round-Up: January 11 – January 15, 2021

Financial Friday Round-Up: January 18 – January 22, 2021

Welcome to our latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch, or listen to regarding finance around the web. Below you will find advice on how to maximize your paycheck, news about Yelp providing COVID safety ratings, a forecast of President Biden’s tax plans, and more.

President Biden's Tax Plans for the Next Few Years

With Democratic control of the House and the Senate, it is unlikely that President Biden will have many obstacles to passing legislation this year. Kiplinger weighed in on what that could mean for finance in America this week; check out this piece for some insight into what the next four years could look like.

5 Tricks to Get More From Your Paycheck This Year

For some, the excitement of nabbing a new job can cause one to breeze through the onboarding paperwork. This means some employees may not be getting the most out of their paychecks because their deductions or benefits are not optimized. January is a perfect time to adjust these for the year to come, and this guide from Money magazine is the perfect piece to help you do it.

Yelp Is Now Accepting Covid-19 Safety Reviews

In pandemic news, Yelp has recently announced that reviews of restaurants by users can now include ratings on their COVID safety measures. These new ratings will have no impact on a restaurant’s overall score as of right now, but an establishment’s measures like mask-wearing and social distancing can now be evaluated from within the app.

The Next Evolution Of Digital Mental Health Support

The nationwide move to working from home in 2020 saw an increase in online mental health services, leaving many to wonder where the industry will go from here. This piece from Forbes extrapolates on what could happen in the next few years, forecasting the rise of mental health infrastructures like text message support and access to digital therapy.

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Financial Friday Round-Up: January 11 – January 15, 2020
Financial Friday Round-Up: January 4 – January 8, 2020
Financial Friday Round-Up: December 14 – December 18, 2020

A Guide to Keeping Tax Records as an Entrepreneur


Maintaining a good system for keeping tax records is essential for any small business owner. Proper tax records will save you stress come tax time, bring you larger deductions, and keep you prepared in the face of a potential audit down the line. Tax records consist of any proof of payment for expenses related to your business, which then help substantiate your tax claims and qualify you for deductions.

Knowing what you can deduct from your tax bill can give you a sense of the types of records you should keep. The IRS allows you to deduct costs that routinely show up in your industry and expenses such as:

Business Expenses

Keep track of every payment you make that is relevant to running your business. This includes advertising, benefits programs, utility and phone bills, rent, legal services, memberships to professional associations, publications, insurance, office supplies, and more.

Auto Expenses

You can either deduct for every business-related mile on your car or claim a flat standard mileage rate — a specific dollar amount for each mile you drive — that you can multiply by your business mileage to find your deduction.

While using this standard rate is easier, you are likely to get a larger deduction by tracking your actual mileage, plus fees from tolls and parking. Technology has made tracking mileage a lot easier in recent years through mileage tracking apps like MileIQ. For a starter guide on which apps to use, check out this list of recommendations.

Meals and Entertainment

Meals must relate directly to your business to be deductible and they cannot be excessive. The IRS limits this deduction to 50 percent of the cost of the meal. For your records, keep all receipts and include the business reason for the event, the amount paid, time and place, type of entertainment (meal, etc.), and occupations of those accompanying you.

Travel Expenses

Payments you make while traveling for business can be deducted as well. Keep track of the amount you spend on meals, lodging, and transportation. For these records, be sure to log the dates of travel, the city, and the reason or business benefit for each expense. Cleaning, laundry, telephone, fax, and Wi-Fi are also deductible.

"Proper tax records will save you stress, bring you larger deductions, and keep you prepared in the face of a potential audit."

Tips and Tricks for Proper Recordkeeping

Knowing what payments to keep track of is only half the battle — now that you know what you should be logging, it is important to keep it organized. Make tax season a little easier by following these tips:

Use Software

Having reliable accounting software is important for keeping all your records in order and easy to analyze. Look into software like QuickBooks, Xero, or Wave by using comparisons like this one from Investopedia.

Keep Source Documents

You should store all receipts, payment slips, and other business-related papers in a safe filing location. It is also best to keep scanned copies of these papers on a hard drive for back up. Thankfully, there are many receipt scanning apps that have made it much easier to keep track of your transactions. This list of recommendations from HubSpot can help you find the right app for your business.

Use Bank Statements for Electronic Payments

These days, a lot of electronic transactions have eliminated the need for paper receipts. For credit cards and e-payments, keep your bank’s financial statements as a source document. Look for the amount transferred, payee name, and date of the transfer.

Stay Up-to-Date Each Month

Taking the time to consult your records at the end of each month is an easy way to ensure that your records are kept properly. It is better to sit down with your records once a month than to find yourself missing a necessary document the week before the tax deadline.

Consult a Tax Professional

It is always a good idea to have a tax professional you can consult for your small business. Experts like these can catch anything you may have missed for lack of extensive knowledge of tax codes.

"You should store all receipts, payment slips, and other business-related papers in a safe filing location, with scanned copies as backup."

Good Recordkeeping Can Save You Trouble

When in doubt, it is better to save something you may not need when it comes time to file than to find you need something you threw away. Remember that the IRS provides resources and reading that you can access to ensure that you’re filing taxes properly. Finally, while we offer this initial guide as a helpful first step in understanding your tax records, always consult a tax professional when managing your specific tax situation.*

With a little preparation, tax season can be a breeze. Maximize your deductions as an entrepreneur and save yourself a headache this year by building good recordkeeping habits today.

*This material has been prepared for informational purposes only, and is

Financial Friday Round-Up: January 11 – January 15, 2021


Welcome to our latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch, or listen to regarding finance around the web. Below you will find a report on how small businesses are adapting to the pandemic, essential marketing tips for small businesses, the state of qualifying for a mortgage today, and more.

The Unique Ways in Which Small Business Owners Are Adapting to the Pandemic

This piece from the Good News Network highlights the unique ways that America’s entrepreneurs have adjusted to the massive changes of 2020 to continue to thrive. In a survey of 1,000 small business owners, 25% of respondents reported that the pandemic hastened their adoption of digital tools and 23% said it helped them digitize the way their customers pay. For these and other interesting statistics, check out this piece.

Five Essential Elements Of A Marketing Plan For A Small Business 

This straightforward guide from Forbes this week serves as a basic guide for any new small business that has just worked out its business plan and needs a good marketing strategy. These fundamentals include how to make marketing objectives, plan your marketing tactics, develop your timeline, and more.

Qualifying for a Mortgage Is Surprisingly Difficult Right Now

Despite mortgage rates remaining at an all-time low since the pandemic began, many people are finding it almost impossible to qualify for a mortgage to take advantage of this historic time. The Urban Institute reports that lenders’ tolerance for risk is the lowest it has been for two decades. Find out why in this informative piece from Money magazine.

4 Ways Your Company Can Have Great Success In 2021

Looking to make 2021 the best year yet for your business? Forbes has some concrete strategies for making this year a great one for revenue, with surefire tips on how to build resilience into your budget, how to capitalize on new trends, and more.


Check out our other Financial Friday Round-Up posts for more great reads!

Financial Friday Round-Up: January 4 – January 8, 2020
Financial Friday Round-Up: December 14 – December 18, 2020
Financial Friday Round-Up: December 7 – December 11, 2020