Blog
Using Computer Software to Track Your Income and Expenses (Part 2)
The following blog was written by Cynthia Finkenbinder, one of our CPA Tax Advisors at US TaxAid Services, LLC. Cythia’s passion is early-stage business owners. You can meet her at our website, and you can learn more about QuickBooks and QB training, by going to www.MySmarterBusiness.com Data backup is often overlooked until it is too [...]
...Using Computer Software to Track Your Income and Expenses (Part 1)
The following blog was written by Cynthia Finkenbinder, one of our CPA Tax Advisors at US TaxAid Services, LLC. Cythia’s passion is early-stage business owners. You can meet her at our website, and you can learn more about QuickBooks and QB training, by going to www.MySmarterBusiness.com By having accurate and organized information at your fingertips, [...]
...Unincorporated Businesses: All of the Risk, none of the Reward
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. Informal businesses are bad from a tax angle. You lose all kinds of tax reduction opportunities, including the ability to stream income. That alone can cause you to pay [...]
...$7,000 Mistake Sinks Company
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. There was a company that got into serious trouble by taking money from investors without following the rules. The founders were raising money through friends and family. They brought [...]
...Good Record Keeping
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. Good records make for good financial statements Have you ever read something on the internet that made you wonder if the writer should be forcibly restrained from using a [...]
...When Is It Time To Bring in an Expert?
Sometimes it is worth and outsider’s view on an internal matter such as embezzlement. It gives you a fresh set of eyes and an opinion that isn’t biased (either positively or negatively). The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of [...]
...If You Decide You Want A Partner, Put It In Writing
Perhaps the most effective partner relationships are those where expectations are clearly spelled out. If you are considering bringing a partner into your business, either at the beginning or later on after the business is set up and running, take the time (and possibly spend the money) to have a formal, legally-binding agreement prepared. These [...]
...Is a Partnership a Good Idea?
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. Ask most business people their most horrendous business story, and it will almost always involve a partner. A partner is someone who becomes even closer than a spouse. Yet [...]
...Increased Access to Tax Deductions
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. When you are an employee, your deductions are limited. That’s because the government looks at employment as “safe”. We’re putting the word safe in quotation marks for a reason: [...]
...Building Business Credit
The following blog is an except from Marco Carbajo – www.nationalentrepreneurclub.com During the early stages of starting and operating your business, you may have become accustomed to using personal credit cards to finance purchased, equipment, and even payments to suppliers or vendors. What’s even more alarming is if you personally guaranteed each and every credit [...]
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