by | Feb 9, 2016 | Books, Income Taxes, Small Business Owners, Tax Tip of The Week
Those who are self-employed are known as Independent Contractors. They may act as a consultant or a virtual staff member for a company or corporation. Meaning they do work on behalf of the company but aren’t considered an “employee” as far as benefits go – this means...
by | Feb 4, 2016 | Accounting & Bookkeeping, Books, Cash Flow, Sales & Marketing, Small Business Owners
Accounts receivable factoring is another mode of receivables management and working capital funding to eventually increase the cash flow. Accounts receivable factoring involves buying and selling of accounts receivables in order to obtain immediate cash or working...
by | Jan 29, 2016 | Accounting & Bookkeeping, Books, Income Taxes, Small Business Owners
Tax planning for the last few years has been made much more difficult by the ongoing game of chicken between Congress and the White House. Would they agree to extend the first year equipment deduction that allowed most small businesses to deduct the full cost of their...
by | Jan 28, 2016 | Accounting & Bookkeeping, Books, Income Taxes, Small Business Owners, Surviving an IRS Audit Series, Tax Tip of The Week
The IRS recently announced the official standard mileage rates for 2016. The mileage rates are: • 54 cents per mile for business use. This is a 3.5 cents per mile decrease from the 2015 business mileage rate. • 19 cents per mile for medical and moving miles driven in...
by | Nov 10, 2015 | Books, Business Profit & Cash Flow Tips, Cash Flow, Sales & Marketing, Small Business Owners
The myth most business owners believe: The most important thing is to get the sale! Why this myth causes a problem: It focuses on the wrong thing! The only thing that counts in a business is to make a profit. You didn’t start a business to...
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...
