I recently met with a business owner who was complaining that he was tired of just barely surviving for the last 15 years. I asked him, “Why do you expect a different result when you keep doing the same things?” Too many business owners don’t have a plan to succeed—so...
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Sales Tax Audits Are a Serious Threat
Most business owners never worry about sales tax after they first open their business. At that time, they set up their procedures and then believed that as long as they paid their sales taxes monthly, there was nothing left to worry about. In this video I discuss why...
Home office Deduction Questions
Last week one of my new clients said that their prior tax-preparer had told them that they shouldn't take a tax deduction for their home office because it sent up red flags to the IRS. In this video I discuss why he could, and should, take the deduction. I also...
The Major Reason Businesses Fail
In this video I discuss why most businesses fail and what items you must concentrate on in order to increase your sales and profits. Every year thousands of businesses shut their doors, ending the dreams of so many hopeful entrepreneurs. One thing that is...
Common Payroll Problems Faced by Business Owners
Once a business owner grows to the point that they need to hire even one employee, they are subject to a multitude of rules and regulations. In this video I discuss common problems that cause the most problems for new employers: Failure to make timely 941...
Turning Social Media Into Sales
I, like most business owners, understood long ago that I would have to embrace the Internet if I wanted to increase sales and survive a changing economic landscape. With everybody and theiruncle writing and talking about it, how could we not be convinced that we...
“I Hit the Jackpot!” Is that Taxable?
In this video I will discuss how to reduce the taxes on your gambling winnings. Yup! That right. When you go to the casino and actually win big, you will be taxed on it. Normally when you win a big jackpot, the casino will ask you for information such as your name,...
Be Sure Your Marketing is Working
Advertising can have a life of its own if there are not proper systems in place to control it. By neglecting your advertising you can get undesired results. Your goal when managing your advertising is to assure that you are in control of what you are sending out as a...
How to Reduce the Taxes on Your Social Security?
In this video I discuss why social security is taxable and how to reduce the taxes on your benefits. A portion of your Social Security benefits is taxed as income if your income is above a baseamount based on your filing status. The formula is confusing, and I won’t...
Why You Started Your Business Changes How You Run Your Business?
What your personal goals are will affect how you design and run your business. My favorite example of this occurred shortly after I opened my CPA firm 20 years ago. I washelping the owner of a portrait studio implement a marketing plan that we had created...