Posts Tagged ‘smart business practice’
Payroll Mistake
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. Not paying yourself and/or your spouse. Hopefully you’ve taken the smart business bath, and you are operating your business as either an LLC-S or as an S Corporation. Income [...]
...Get It In Writing
Stupid Business Story: As a new, one person business, I thought a simple step to create almost immediate business, would be to partner with someone already doing business with the same clients I was after. I found a small company who had been in business over 30 years and who would benefit from having the [...]
...5 Deductions to Put More Money in Your Pocket (Part 2)
Here are another 10 deductions you might be able to claim to help you save money. 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. Deduction #6: Websites. The cost of websites and internet marketing is all deductible [...]
...Are You Giving Your Business Away?
Problem This pizza place was relatively new in town. They were trying to figure out ways to get the word out about their new business. Since they were in a college town, they figured a good way to get people in was to offer coupons on the back of the college hockey tickets. So, on [...]
...Absentee Owner Needs to Pay Attention to the Numbers
PROBLEM: I was hired as the CPA for a convenience store that was in complete chaos. The books and records, such as they were, didn’t make any sense at all. But the one thing that was certain was that the store was busy and they were always broke. The owners fired the bookkeeper and hired [...]
...Keep Regular Backups
PROBLEM: Among the first things we taught our clients about their new computer systems was backup at least once EVERY DAY! They all did, we think, almost religiously. One day of our clients called and their disk drive had crashed. I said I’d come and repair the system and we’d restore from the back up [...]
...Beware Of Giving One Employee Too Much Responsibility
Problem I have a repair business client who had a customer service person for several years. He seemed like a good guy. Was very good with customers and knew lots about the computer system and the way things ran in the office. This was all good and well, except for a few things. I noticed [...]
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