Business owners can save a ton of estate taxes by kicking the bucket this year rather than next. But there are less drastic solutions. More »Top Tax Move for 2012: Drop Dead
Whats going on can best be described as a Dead Greek bounce: A huge over-reaction to a … More »Dow breaks 13,000. Don’t go anywhere …
To keep myself and my employees focused, I follow a simple rule I learned from the great … More »Keeping your team focused
Business owners can save a ton of estate taxes by kicking the bucket this year rather than next. But there are less drastic solutions. More »Top Tax Move for 2012: Drop Dead
Whats going on can best be described as a Dead Greek bounce: A huge over-reaction to a bailout deal already starting to unravel. More »Dow breaks 13,000. Don’t go anywhere near it
To keep myself and my employees focused, I follow a simple rule I learned from the great football coach Don Shula. More »Keeping your team focused
You might think that setting up a 401(k) for small business is too difficult to even consider. You couldn't be more wrong. As a small business owner, you want the best for your employees. This includes an attractive compensation package. Offering a 401(k) program for your employees isn’t just a matter of humanitarianism. It’s an essential part of keeping your best and brightest from defecting to larger companies. Setting up a 401(k) program for your employees is probably far easier than you thi More »Set up a 401(k) for your company
This article provides a basic explanation of managerial accounting and the ways in which it differs from financial accounting. Purpose Managerial accounting is meant to provide managers with the data that they need to make decisions regarding an accounting problem. This information needs to be more specific than the company’s balance sheet or income statement, in order to develop an informed strategy. Information may include budget adjustments that account for rising costs, and projected profits More »Essentials of managerial accounting
The Internet makes life much easier in many ways, but if you’re planning on doing your banking online, you do need to take some precautions to avoid losing money. Internet banking has become so popular now that it’s possible to completely avoid setting foot in your bank once the account is set up. Some banks will even let you create your account online, without having to be physically present, making it that much easier to do everything from your preferred location. You can even bank with your p More »Tips for safer internet banking
When debts mount and you have no way to pay back you may begin considering bankruptcy court. But is this the right decision for you? Every month your debt mounts. Every month when you do your bills you wonder how you will pay them. Every month you consider how many more months of this you can take. If your financial problems have become insurmountable, you might want to start considering bankruptcy. While this is a measure of last resort, it may be the only option left for you. Bankruptcy Simpl More »Bankruptcy: strategic or stupid?
Cash is the oil that keeps your business running smoothly. Without it, you risk imminent failure. Managing your cash flow can keep your business running, even during difficult times. You need cash to pay your vendors, your employees and your bills, so it’s necessary to have at least some cash on hand at all times. But what happens if your customers pay you late? This can seriously disrupt your payment schedule. It’s wise to manage cash flow months and even years in advance to ensure that you alw More »Is CPA better than PPC?
If you find yourself in a position where you cannot service your debt, get help immediately. Early and swift action could help you avoid bankruptcy, protect your credit, and get your business back on the right track. Meet the Three C’s of Debt Crisis Management for small businesses. Managing a Debt Crisis The United States’ largest automaker filed for bankruptcy in 2009, agreeing to stake almost 60% ownership to taxpayers. Approximately a year later, the auto giant claims to be not only on track More »The 3 C's to avoid bankruptcy
As a small business owner, you may want to pay yourself last to conserve money, but sometimes putting yourself first is the trick to succeeding. With so many business expenses to pay for your company - utilities, rent, inventory, staff wages, marketing -- it can be hard to fit your own salary in. And as a business owner, you may assume you should put everything you make back into the business. Not so. The first thing you should do with your money is pay yourself first. Many business owners who b More »Small business owners: pay yourself first
With health insurance costs soaring, employees are shouldering more of the burden. Employers who once covered all costs are now choosing plans that are a cost benefit for the business. Employees have to research to find the employer-provided plan that works for them. Health care spending accounts can help employees pay for a myriad of out-of-pocket expenses. Prescription drug charges. Copays. Orthodontics. Orthotics. The list of expenses not covered by health insurance goes on and on. The employ More »How to set up a Healthcare Spending Account
When selling your business, getting a ballpark value is the first step toward getting a fair price. But who should advise you on an asking price? If you’re looking to sell your business you will want to get an appraisal. This will allow you to know how much your business is worth, giving you’re a base line for what you can ask. Finding the right person to value your business is the first step toward getting an accurate dollar amount. Pros and Cons of Accountants Accountants can take an inventory More »Can Accountants Value a Business for Sale?
Get what you pay for. Pay Per Click is great at measuring how attractive an ad is, but it does not tell you anything about profitability. Cost Per Acquisition (CPA) however measures end goals like the number of sales or registrations you made from a particular ad or promotion. We have all been asked “where did you hear about us?” when filling out a form to make a purchase or signup for something. Coupons from your local newspaper are likely to say, “present this ad and receive X discount.” Good More »The scoop on Cost Per Acquisition (CPA)
Cost-plus pricing is a simple and easily controllable pricing strategy that can be used to boost profits in almost any business. Cost-Plus Pricing Determine the expense associated with producing a product and add an additional amount to that number to generate profit. Cost-plus pricing is relatively simple, as it only requires the unit cost and desired profit margin for calculation. Unit cost consists of all fixed and variable costs associated with making a product and bringing it to market –inc More »What is a Cost-Plus Pricing Strategy?
Accounting helps you keep track of your business’ expenses and income, as well as forecast how much money you will need in the future. If you start out in your small business balancing your bank accounts in a checkbook register or on a spreadsheet, that may work for the beginning, but you will want to find some sort of business accounting software to do the job properly. Using effective accounting software can help you better manage your expenses and income, see who owes you money and see what o More »Why you need business accounting
Starting out, many business owners do everything or next to everything in their businesses. When it comes to taxes, however, you might be wondering if you should attempt to do it yourself or outsource the task. There are advantages and disadvantages to each. With accounting software and online tax help, it can seem like a great idea to do your own business taxes . . . but are you sure it’s the best way? When it comes down to DIY or outsourcing your business taxes, it can be difficult to decide w More »DIY vs Outsource: Business Taxes
When you run a small business, there are a number of advantages to hiring your children. These advantages come with built-in secondary advantages come tax time. Once you are familiar with these perks you will likely wonder why you didn’t hire your kids sooner. Hiring Your Kids and Taxes The greatest tax advantages will be reaped if your company is unincorporated and your children are under the age of 18. Once your children reach the age of 18 you will no longer enjoy any of the economic advantag More »Tax benefits of nepotism
Why is it smarter to run a business under a LLC for tax purposes? As a small business owner, the structure of your company must take certain tax benefits into consideration. When considering your desired tax structure during company formation, you have to look at what type of entity will benefit your company the most. An LLC is a type of business entity that the Federal Government gives favorable tax benefits for under certain scenarios. An LLC was recently created in the late 20th century and More »LLC tax benefits
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