by | Nov 18, 2015 | Accounting & Bookkeeping, Cost Cutting, Income Taxes, Small Business Owners, Small Business Success Series, Tax Tip of The Week
Tax Planning Guarantees the Business Owner They Will Pay Less in Taxes Very little in business is guaranteed. Even a well-planned marketing and sales campaign cannot guarantee results. But those businesses that take tax planning seriously are almost...
by | Nov 11, 2015 | Accounting & Bookkeeping, Cash Flow, Income Taxes, QuickBooks, Sales & Marketing, Small Business Owners
Set Up Users with Limited Permissions and Access Every day my staff and I fix client QuickBooks files that are filled with errors. Many of these are caused by the owner allowing their untrained employees access to all areas of QuickBooks. This can...
by | Nov 9, 2015 | Accounting & Bookkeeping, Books, Sales & Marketing, 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 surprise me anymore. They usually hire a bookkeeper and a CPA to do their...
by | Oct 27, 2015 | Accounting & Bookkeeping, Books, Cash Flow, Income Taxes, Small Business Owners, Tax Tip of The Week
There are really two things that many business owners do that can, and often do, lead to a visit to the bankruptcy attorney. First, they hire an employee but they either ignore the filing and paying of their payroll taxes, or they hire someone to do it and never check...
by | Oct 23, 2015 | Accounting & Bookkeeping, Books, Income Taxes, Sales & Marketing, Small Business Owners, Tax Tip of The Week
The following was reported in the Kiplinger Tax Letter of March 2012: A couple who used their vehicles in their sole proprietorships found this out the hard way. Their logbooks were riddled with mistakes, questionable entries and other irregularities—so much so...
by | Oct 21, 2015 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Sales & Marketing, Small Business Owners, Surviving an IRS Audit Series
This is the clean version of my client’s first thoughts when they receive an audit notification. Then, naturally, they start panicking about their return—if it was done correctly, what deductions they took, and what to do now. If this happens to you, first of...
