To Eat But Not Entertain

The massive amount of changes that happened with the 2017 Tax Act and Cuts and Jobs Act affected numerous issues and explaining what is coded to where with clients is a valuable piece of advice in order to make sure that money doesn’t get left on the table through errors. What is Invalid Related activities […]

Change Sometimes Just Sucks

Everyone learns to adapt to change but unfortunately, we go kicking and screaming because we’re either not interested in it or just feel that there’s nothing wrong with the way things are so why do it.  Businesses are always asking how they can get more clients or sell more products, but they don’t want to […]

When to Let Go of “The Pretty One”

One of the biggest pitfalls of business ownership, is determining if something just isn’t working anymore and it’s costing you more money than what the situation is worth continuing.  Everyone has faced it at one point or another, but the decision is just how long is it going to take to move on with what […]

Working During Limited Cash Flow

All start-up businesses, as well as well-established businesses, deal with limited cash flow at one time or another, and a lot of times there’s no way of being able to prepare ahead of time for it unless you have some set boundaries when you’re trying to figure out how to get through the rough spots […]

Who’s Responsible for Your Business Tax Return?

People have asked me several times how often they need be asked where their information is to file their tax return.  Well let’s take a look at the history of the tax filing deadline. *1913 – initially started March 1st *1918 – moved to March 15th *1955 – moved to April 15th unless it fell […]

Understanding the Completed Contract Method for Contractor Accounting

Many contractors don’t understand that there’s specific rules regarding how income and expenses are reported in accounting, so this is an explanation of how the Completed Contract Method works for small businesses. When you have a contract in place, that’s when you need to make sure that the revenue and expenses related to the job […]

How can I not pay taxes?

So many people ask me how to avoid paying taxes, and I tell them to simply not make any money and it’s simply that easy.  In the end many people fail to realize that when Ben Franklin came up with the saying “Nothing is certain but death and taxes” he wasn’t lying. The challenge with […]

Playing Financial Reporting Catch-Up

Most everyone has been there with their business, not having reconciled their bank accounts or credit cards, not sure where things stand with their payables and receivables, do their financials line up with their tax return, and the bank is asking for up-to-date financials to renew their loan.  Where are theyu supposed to start without […]