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Category Archives: Business Accounting and Budget
A Warning for Small Businesses that Remain C-Corporations
In 2013, businesses that remain C-Corporations, or Personal Service Corporations, will see a tax rate of 78.4%. That means over two-thirds of any additional profit you earn will go to Uncle Sam. How can this be? Well, you might have
Filing Your Corporate Tax Returns
Changes to Your Tax Form That Might Open You to an Audit As a veteran tax preparer I am noticing some subtle changes occurring to corporate tax return forms. And, since individuals sign their tax returns under a declaration of
How to file for the Health Care Tax Credit
How to file for the Health Care Tax Credit If your business pays a portion of your employee’s heath care insurance, ask your tax preparer about claiming this hidden credit. A tax credit is an actual refund of the tax
Nine steps to assure your small business will survive the unexpected
Nine steps to assure your small business survives the unexpected Small business owners are so concerned with day-to-day operations they shove-aside the notion of needing to continuously tend to the less immediate business functions. But, if you’ve been in business
Choosing an Accountant: Questions to Ask
Before beginning your search, you must first look at your needs and honestly assess your habits. After you’ve identified all of your requirements in “Finding the account that fits your business,” it’s time to start the interviews.
Q&A: Tax Credits for Employers Providing Insurance
Tax Credit Questions – Solved By:Pearl Dahmen Para, CPACertified Public Accountant, MA, CBA Q: What is this credit and how will it help small business owners? The Affordable Care Act has several provisions designed to help health insurance become more
Mark Your Calendars: Tax Dates to know 2012
The thousands of codes, forms and filing dates leave business owners in frenzy when it comes to tackling taxes. It would make things a bit simpler if there was some sort of reminder system or catalog with all those must-know
Posted in Business Accounting and Budget, Taxes
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Two Parts of Financial Projections: The Known and Unknown
If you are seeking money, lenders might not give you any until your financial projections accurately express the risk and solve how the funds will get paid back. This financial forecast is also a crucial component of any business plan.
Be wary of emails from the IRS
If you are a new business owner with limited experience with the Internal Revenue Service, you may not be aware that the IRS and the Financial Management Service (the Treasury bureau that owns EFTPS*) do not communicate payment information or
Entrepreneurial Risk – Rate of Return & Benchmarking Tips
I still can recall my economics professor explaining the concept of entrepreneurial risk. He went on to say it’s a high rate-of-return that entices the individual to seek entrepreneurship. And, if that rate is not sufficient, the individual will abandon
How Your Money Per$onality Impacts Your Finances
Money. Is it an issue for your small business? Is the issue really money or is it your Money Per$onality? In Ray Linder’s book, “What Will I Do With My Money?,” he narrows the 16 Myers-Briggs Typing Instrument (MBTI) personality
Tax Warning! Be Mindful of the Hobby Loss Limitations
IRS Hobby Loss Limitation Rule: The IRS permits small business owners to deduct necessary expenses, but those expenses, or losses, might get denied if the business doesn’t make a profit in three out of five years of business activity. This
QuickBooks Help! Reconciliations & Financials Made Easy
Do you know your current profit margins? Reconciling bank and credit card accounts is paramount to making solid business decisions! Not too long ago, business owners didn’t have a choice but to plunk away at a keyboard to enter hundreds
88 Ways to get Money Without Going to the Bank
So, the bank declined your request for a business loan. Did they ask, Do you have any “marketable collateral”? When you indicated that you only had business assets, did they respond, “I am sorry, but we do not finance businesses
New Small Business Tax Credit for Providing Health Care Coverage
Understanding the verbal jargon related to the new health care legislation can be confusing for most small business owners. Essentially, the law entices small employers to provide health care coverage by refunding income taxes that small businesses pay.
Unemployment Rate Decreases
June 2010 Employment Report Private Employment Up, Government Employment Down, & Unemployment Rate Down The U.S. Bureau of Labor Statistics released today its report on employment for June 2010 (BLS Employment Report June 2010). The good news was that temporary
The Threat from Within
If you are a business owner and you think shrinkage is what happened to your clothes after a trip to the cleaners, you really should read on. In business, shrinkage usually describes the financial losses caused by employees. For a
Accountaphobia
Accountaphobia [uh-kount-a-foh-bee-uh] n. An abnormal fear of accounting software or bookkeeping in general.
