Planning for the End of the Year

Those who make quarterly tax payments should know that a payment is due September 15.  This is because of the end of the Federal fiscal year on September 30th.  This is also a significant time for short-range planning.  We will soon be entering the...

What is the IRS Fresh Start Initiative

Anyone who listens to the radio or watches television has heard adds referring to the “new” IRS Fresh Start Initiative.  If you were to enter IRS Fresh Start Initiative in a search engine, you would be surprised what you will see in the results.  None of the...

Life Changes and their Effects on You

One thing that can be said about life is that it changes constantly. Divorce, death, business closure  and many other life changing events happen every day.  Many of these events are very emotional.  These events also have a hidden potential...

Tax Planning

What is the difference between tax planning and tax preparation?  It really is about timing.  Tax preparation is the result of a combination of a year’s work and planning or the lack of planning down during the year.  In short, planning is what you do...

The Case for QuickBooks Online

Regardless of the size of the business, certain tasks are required. One of the most important is the basic bookkeeping function. Often small businesses hire outside accounting firms to manage this function, which is wise.  These relationships work best when...

Tax Scams

Tax scams are so prolific that the IRS regularly sends tips out about them.  This isn’t surprising.  One of America’s most notorious bank robbers, Willie Sutton reportedly responded to a reporter’s question about why he robbed banks, “because that’s where...

Employee vs Contractor

I have often encountered the small and growing business owner who needs help but doesn’t want to manage employees.  Quite often, the business owner decides to pay workers as contractors and not worry about all the problems inherent in managing payroll.  This...

Business Junk Mail

As a business owner, I am constantly receiving offers to loan me money or sell me the latest solution to a problem they are certain that I have and they can solve, even though they have never met me.  This is amazing to me.  I see the same thing on...

Cyber Security and the Business Owner

Cyber security is the new buzz phrase we all hear about.  There are federal agencies involved in this area.  There are military people involved in this very area both in offense and defense.  Anyone who is paying attention to the news has heard the...