How to Give Your Business a Mid-Year Financial Checkup

We've been in budget discussions at my house recently. It's something we've meant to do since the beginning of the year, and here were are halfway through 2008. We finally decided it was time to get serious. I felt better about our procrastination when I read this AP article. Turns out mid-year is a great time to revisit financial goals and budgets--especially for small business owners and especially during this kind of economy. Things to look for: how new tax provisions will affect your business (like the increased mileage deduction and a near doubling of small-business expensing limits), whether you need to be more concerned about receivables and if there are any ways to save on energy costs.