Question: Can I deduct an invoice that my customer refuses to pay? Answer: Like many tax questions, the answer is maybe. It all depends on when your company records income. A company can choose between recording the sale at the date of the invoice (on the accrual...
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Are You Using Facebook Ads?
If you have a Facebook business page, you really should try adding a Facebook ad to your marketing. Facebook ads are an inexpensive way to reach a very targeted audience. When you create a Facebook ad, you first set your daily budget and when you want to start your...
Never Take a Sale for Granted!
I’ve been looking at cars recently, and marketing is constantly running through my mind. Car dealerships spend tons of money on advertising, leads, and internet marketing, but it really comes down to the salesperson. If you think about it, this is true in most sales...
Why Should I Care About Good Accounting Records?
After all this time it still amazes me that business owners don’t understand the importance of having good records. As often as I have run into it over the last 30+ years, it shouldn’t anymore. They usually hire a bookkeeper and a CPA to do their taxes and then forget...
Easy Investment Mistakes
While there are a lot of options to consider for making good investments, there are an equal if not greater number of investments that no one should consider. Often, these investments seem like a "sure thing," but they are anything but over the short or long...
Simple Money Saving Mistakes that Derail Your Efforts
If you are like most people, you have a lot of very good and very well-intended ideas about maximizing your savings and building up an emergency fund. However, you may also find that at the end of the month there never seems to be any extra money to add to the...
MYTH VS TRUTH: It’s the Business Owner’s Job to Keep the Trains Running.
The myth most business owners believe: I must be the one to make sure the trains keep running. Why this myth causes a problem: In order to get more customers, it is my responsibility to make sure that my product/service is delivered correctly and on time. The truth...
Make It Fun!
Customers like to feel like they’re a part of something special and exciting. So when you’re planning promotions, try to make them special and exciting! Use your creativity! We have seen business owners give away prizes, give free food and drinks, or invite guest...
Successful Business Owners Don’t Follow the Herd!
In fact, the most successful business owners see what other business owners are doing, and do the opposite! Why? Well, consider that according to the Small Business Administration (SBA), over 50% of small businesses fail in the first year and 95% are out of business...
Working with Interim Managers
Particularly during times of great upheaval in a company, leaders may choose to hire the services of an interim manager, something that can feel quite threatening for existing staff and managers who may feel as though their own skills and experience have been...