My wife and I welcomed our first daughter to our family this past August. I contemplated what knowledge will enable her to make informed decisions about her financial affairs. My mission is to provide you the same financial education and guidance covering a wide range of topics jargon-free. The need for women to have financial knowledge is vital. I believe this, as research studies show that by the year 2020, women will control two-thirds of the nation’s wealth (, Financial Services: The Industry Women Love to Hate, March 8, 2011). However: • Women lack the time and selfassurance to manage their financial planning (ProLiteracy Study 2013) • Women report higher levels of worry and stress about investing (Victor Ricciardi, The Financial Judgment and Decision Making Process of Women: The Role of Negative Feelings, 2011) • An estimated 66% of caregivers are female ( women-and-caregiving-facts-andfigures) and due to their caregiving role, women work 12 years fewer than men over the course of their careers (AARP Public Policy Institute). • Only 31% of female investors are using financial advisors (Prudential, 2014-2015 Research Study) I believe that knowledge turns worry into confidence. You may be thinking “How do I start?” or “Am I doing the right things?” To help you answer these questions, you may want to consider following a 6-step process I’ve developed.

There are a lot of difficult and notalways- enjoyable aspects to operating a small business. But the more you know about them, the less intimidating they become. They may not become any more pleasant, but at least you’re better able to successfully resolve them and get back to the many far more enjoyable parts of being an entrepreneur.

 A good example is paying taxes. Every small business is subject to federal, state, and sometimes local taxes. And it’s not something you can simply put off until April 15, along with your personal taxes. Many small businesses pay estimated taxes four times a year, based on the income received during certain periods. If you have employees, you need to pay taxes on their wages and make the appropriate withholdings for Social Security and Medicare.

But as you learn more about small business taxes, you’ll find that managing them can be no more onerous than other routine administrative tasks. And a great source of information is the Internal Revenue Service’s Small Business and Self-Employed Tax Center (

There, you’ll find everything you need to know about small business taxes. The “Starting, Operating, or Closing a Business” section, for example, provides information on tax requirements for the various stages of a business’s life cycle, while the “Deducting Expenses” section guides you in determining what does and doesn’t qualify as a business expense.