Client Question of the Week: If I Sell Copies of My Kindle Book on Amazon, Do I Owe Sales Taxes?

by | Sep 9, 2011 | Accounting & Bookkeeping, Books, Business Profit & Cash Flow Tips, Current Affairs, Income Taxes, Small Business Owners

The short answer is, maybe. Okay, I know that’s not very helpful. The basic rule is you must collect and pay sales taxes on goods or services in the state you sell the product or provide the services. Since my client lives in Texas, they would owe sales tax for any...

Business Success Secrets: Lessons Business Owners Keep Learning the Hard Way! No Pain – No Change! The Unofficial Business Owner’s Slogan

by | Aug 29, 2011 | Accounting & Bookkeeping, Business Profit & Cash Flow Tips, Business Success Series, Cash Flow, Cost Cutting, Sales & Marketing, Small Business Owners, Surviving an IRS Audit Series

 The myth most business owners believe: I can still get the job done, it can wait. Why this myth causes a problem: Just about every week I meet with business owners who have waited too long to address an issue that has now become an emergency! The numbers of...

Tax Tip of the Week: What employer payments to an employee are not taxable to them?

by | Aug 16, 2011 | Accounting & Bookkeeping, Business Profit & Cash Flow Tips, Business Success Series, Cash Flow, Cost Cutting, Income Taxes, Small Business Owners

This is a frequent question I receive from both employers and employees. The debt fight in Washington has highlighted what the President calls, “tax loopholes that should be closed.” A “loophole” is a legal deduction that Washington has written in to the code to...