Small Business & Nonprofit Finance Blog

By Jasmine Thompson | Stellar Consulting Inc. One of the first things I ask a new nonprofit client is: "Do you receive any federal funding?" If the answer is yes, the next question is: "Has anyone walked you through 2 CFR 200?" In almost every case, the answer is no, even from organizations that have been receiving federal grants for years. That always stops me in my tracks. Not because I'm surprised anymore, but because I know what that gap can cost an organization, in audit

By Jasmine Thompson | Stellar Consulting Inc. A client came to me after she had to let her first employee go after four months. She'd made the hire at what felt like the right moment, revenue was up, she was overwhelmed, and she needed help. But three months in, the cash wasn't there. She did everything right except check three numbers first. Hiring your first employee is one of the most significant financial decisions a small business owner makes, and one of the most emotion

By Jasmine Thompson, Stellar Consulting Inc. In the same month, I had two very different conversations about how owner's actually pay themselves. One client hadn't paid herself in three months. Another had been paying himself every week, more than the business could really sustain. Both situations were problems. Neither owner had meant for it to happen. Owner pay is one of the most personal, and most financially significant, decisions a small business owner makes. And it's on

By Jasmine Thompson, Stellar Consulting Inc A few years ago a client called me on a Thursday afternoon. "Jasmine, I don't understand, we had our best month ever in September, but I'm looking at my bank account right now and I don't know how I'm making payroll on Friday." Here's what was actually happening. The Thursday Phone Call My client owned a catering and entertainment business here in Los Angeles. September had been incredible, multiple large events, a packed schedule,

The most financially confident small business owners I've worked with don't all have the most complex systems. They don't all have the biggest budgets or the fanciest software. What they have in common is this: they check in with their numbers every single month. Not at tax time. Not when something feels off. Not when the bank balance dips and there's a sinking feeling in the stomach. Every. Single. Month. And the check-in doesn't take long.

Running a small business in today's environment is not for the faint of heart. Between rising costs, inconsistent cash flow, the pressure of tax compliance, and the constant juggle of doing everything yourself — the financial side of business ownership can feel like it's working against you, even when things are technically going well. If you've been feeling the weight of it lately, I want you to know: what you're experiencing is real, it's common, and there's a path through