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 20, 2015 | Accounting & Bookkeeping, Books, Income Taxes, Sales & Marketing, Small Business Owners, Tax Tip of The Week
If you’re a business owner, you know how much you rely on your family’s support. Your spouse is probably already helping you in your business. Actually, officially putting them on the company’s payroll has many advantages. You can deduct the full amount...
by | Oct 14, 2015 | Accounting & Bookkeeping, Books, Small Business Owners, Small Business Success Series
In my thirty years of working with small businesses, just about every business owner that I have worked with has been surprised by the amount of cash that they are leaving on the table. In tough times, like now, tracking every dollar your business uses and...
by | Oct 2, 2015 | Accounting & Bookkeeping, Books, Business Profit & Cash Flow Tips, Cash Flow, Sales & Marketing, Small Business Owners, Small Business Success Series
Since the economic downturn in late 2007, many of my meetings with small business owners have started with them saying, “My business is in trouble! What do I do?” One mistake almost all small business owners make is waiting too long to decide that they have a...
by | Oct 1, 2015 | Accounting & Bookkeeping, Books, Business Profit & Cash Flow Tips, Sales & Marketing, Small Business Owners, Small Business Success Series
Creating a receivables collection system eliminates most cash problems. A recent study found that half of all small businesses are having trouble collecting receivables. During good times this is an annoyance. During bad times it is often the path to an...
