Five Tips Every Entrepreneur Must Know about Budgeting Successfully

The tax treatment for your small business, various deductions and income classifications may change by next year.

Inc.
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Running a business is difficult. It's even more difficult if you're just starting your business, trying to grow a side hustle or running a seasonal business. On top of the operational and customer issues that inevitably eat up your time, you also need to know where you stand financially.

As good as you may be at running your business, you might not be as interested in putting together a budget—but getting your numbers right may very well make or break your business. Oh, and did I forget to mention that the tax treatment for your small business, various deductions and income classifications may also be changing by next year?

Fortunately, you aren't in this alone. You should certainly use any budget hacks or apps that fit you and your business to help automate and streamline this process, but in order to do that, you need someplace to start.

As always, be sure to consult your certified public accountant (CPA) or other financial professional to address specific questions about your business. In the meantime, let's take a look at five budgeting fundamentals that every entrepreneur should know:

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