Ask the Vetrepreneur: Money management and the small business

Q: What are the best accounting tools for my small business?
A: The best tool for accounting would be a certified public accountant. One can help ready your financials for tax filings, and offer financial and other business guidance. For accounting software, QuickBooks, FreshBooks and Xero are all good places to start.
If you are looking for expense accounting and tracking, Neat or Tallie are great tools. Both seamlessly integrate with QuickBooks Online and are easy to use. Knowing who is spending your cash and where it is going is a necessity for any business.
Q: What are ways I can save on taxes as a small business?
A: Small tax deductions take a little extra work, but your savings can really add up. Here are a few ways you can catch a break:
Go green. Government agencies offer a variety of tax credits, rebates and incentives in support of renewable energy practices, such as the ones listed on the Small Business Administration’s website.
Hire a veteran. We strongly believe veterans are a valuable asset to any business, and apparently the government does, too. The VOW to Hire Heroes Act of 2011 provides tax credits for qualifying veteran employees.
Be a startup. Haven’t even opened your doors? Turns out the IRS gives tax breaks up to $5,000 for costs associated with starting a business.
For a list of common tax deductions for small businesses, check out my company’s blog post on tax breaks at blog.streetshares.com.

Mark L. Rockefeller is an entrepreneur, attorney and veteran. He is the co-founder and CEO of StreetShares, an online marketplace where investors compete to provide shares of commercial loans to small businesses.
Follow Rockefeller on Twitter @markrockefeller or StreetShares @StreetShares
Have a question? Send it to him at 
questions@streetshares.com.