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...
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“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...
How Will This Year Be Better Than Last Year?
Results don’t come from wishes, hopes, and resolutions. That is why 90% of New Year’s resolutions are dropped before the end of January. Every gym owner can tell you that most of their new members will be gone by February. This is true in business, too. What are you...
Recurring Revenue Is the Key to a Valuable Business
The most stable businesses I have worked with are based on a recurring revenue model. And they are the easiest to sell at a much higher value than industry average. In this video you will learn why businesses with recurring business are much more valuable and examples...
10 Common Interviewing Mistakes
Employee hiring is much more critical in a small business than in a large business simply because you don’t have the budget to carry “dead” weight. Every employee you add is expensive, and hiring a bad employee can seriously affect the financial success of a...
5 Advantages of Accepting Mobile Payments
Smartphones and their myriad of apps are revolutionizing business once again. It is becoming more common to see customers at a cash register pull out their phone and use it to pay rather than using cash, debit cards, or credit cards. Mobile programs are relatively...
Creating Your 2020 Profit Plan
I am always telling my business owners that they need to have a profit plan. I have seen many different profit plans including a few that were drawn up on the back of a cocktail napkin. Of course, if you want to achieve massive profits you will need a more organized...