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 26, 2015 | Income Taxes, Sales & Marketing, Small Business Owners, Surviving an IRS Audit Series
Nothing gets your blood pressure up like getting an IRS collection letter demanding money! So what should you do if you receive one? First—do not panic! The good news is that in my experience at least half of them are wrong. Many times the IRS...
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...
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 | Sep 17, 2015 | Accounting & Bookkeeping, Books, Cost Cutting, Current Affairs, Income Taxes, Sales & Marketing, Small Business Owners, Small Business Success Series, Surviving an IRS Audit Series, Tax Tip of The Week
The following article appeared in the July 2015 issue of Small Business Tax Strategies (a publication worth checking out at www.SmallBizTax.net): The IRS has informally indicated that iPads and other tablets will be treated like cell phones when employers provide them...
