to Discuss Your 2013 Taxes (7 Tax Law Changes You Must Know Now)
OK, nobody loves tax season. If you're feeling stressed out by the looming April 15th tax deadline (or the just-passed deadline for company taxes!), take a break. Forget 2012 taxes for a moment and instead look ahead to April 2014. Why? Because the tax code has changed effective January 1, 2013 and what you are doing today
The sun has set on 2012 and your year-end financial statements look a bit gloomy. Maybe you are showing a bad loss - or maybe too much profit. You need financial statements that will impress your banker, incur less tax, and better position you for profits in the new year. But how?
Fortunately, accounting rules are flexible enough to help you out without getting you in hot water, In fact,
It's a shame, really, that we have to interrupt our joyous year-end holidays with gut-wrenching year-end tax prep... So to minimize the pain, I've put together a quick list of the 6 things I think you should know this year. Put down the fruitcake and eggnog for just a second, and be sure your business is ready to wrap up the year.
Forms 1099-MISC Businesses are required to send a 1099
Entrepreneurs are an odd lot. We pursue a passion but end up with a business. Sure, launching a company seems like a good idea at first. We start with stars in our eyes, but end up married to the dreary demands of running a company.
If your business is not helping you pursue your dreams -- by generating both income and opportunity for you to do what you love -- then it's time for a bit of
Is there a thief working in your office? I'm not talking about a convict wearing an orange jump suit. I'm talking about a well dressed employee who is, at this very moment, ripping you off for thousands -- maybe millions -- of dollars. Would you even know if your employees were committing financial fraud and embezzlement?
Corporate embezzlement and fraud are tough to spot,
As a business owner, you have drive, desire and dreams of something bigger. Sadly, according to a recent survey by the National Association of Fraud Examiners, you probably also have a higher-than-average risk of being a victim of fraud, with an average loss of $200,000.
Business credit card abuse is a relatively simple (for the employee) and a common avenue for fraud, theft and simple (but
Its amazing how complicated you can make bookkeeping if you try. Apply for a handful of credit cards, get two or three bank accounts, and carry arround a checkbook ... and you're on your way to a life of late payments and bounced checks.
There's a better way. In fact, keeping your books straight in a small business should be as simple as "Just Say One."
So next time you are asked...
Hard to believe, but the IRS wants to forgive all the taxes you did not pay for misclassified 1099 contractors who should be employees. Ever.
You know the deal. Outsourcing is so easy that you started paying some employees as 1099 independent contract labor too. You save time and paperwork... and a bunch of money on taxes.
But it's not legal, and the penalties are harsh. It's time to
People say that writing things down creates a certain kind of magic.
It must be true. Some of the most powerful magic I've ever seen came from a 24" x 36" piece of paper and a colored marker that became my business dashboard. After I created a business dashboard, nothing was ever the same.
If you want your business to thrive you must know - and measure - the things that make it work.
News broke this week of the extraordinary measures that PayPal is taking to deny business account holders access to money legitimately deposited into their accounts.
An emerging social media site called Diaspora reported that PayPal has frozen their account and blocked the release of more than $45,000. Similar stories are coming to light around the world and its not clear what recourse average