by | Apr 11, 2017 | Accounting & Bookkeeping, Business Profit & Cash Flow Tips, Personal financial planning, Small Business Owners
Have you ever had a friend suggest a sure-fire investment? If you think back, you may recall thinking they were a bit delusional and that the investment was risky at best or a complete non-starter at worst. The reality is many people have a hard time determining what...
by | Apr 3, 2017 | Accounting & Bookkeeping, Cost Cutting, Current Affairs, Income Taxes, Personal financial planning, Small Business Owners
Over the years I have spoken to literally hundreds of business owners who have had problems with their bookkeepers. The lucky ones only had incompetent or lazy bookkeepers who only provided financial statements that were so wrong that they were useless as a management...
by | Mar 15, 2017 | Accounting & Bookkeeping, Books, Current Affairs, Small Business Owners
When you decided to start your business, was your first priority concerned with setting up your filing system for recording your expenses? I seriously doubt it. This simple task (yes it is simple) is usually the item that is the last thing on the new business owner’s...
by | Jan 30, 2017 | Accounting & Bookkeeping, Income Taxes, Small Business Owners
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...
by | Jan 25, 2017 | Accounting & Bookkeeping, Business Profit & Cash Flow Tips, Client Question of the Week, Cost Cutting, Income Taxes, Small Business Owners
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...
by | Jan 5, 2017 | Accounting & Bookkeeping, Current Affairs, Small Business Owners
The myth most business owners believe: 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...
