Financial and Taxes
Cents and Sensibility
Cash flow is a problem that plagues every small/home office from time to time. It’s one of the biggest challenges you’ll face during the first two years of operation. [Full Story]
Cash in Your Attic
Are you looking for extra money to help you through these tough times? Or do you just need a little extra to help in your home business? Whatever the case, you may be looking in all the wrong places. [Full Story]
Thinking of a Remodel?
You may feel that your home is getting too small for all your needs. Or maybe your home office just needs an overhaul. You don’t want to do it yourself so you pay a contractor for the improvements. [Full Story]
Business Expenses
Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is
operated to make a profit. [Full Story]
Yes, You Can Be Financially Independent
By its very definition, financial independence means to not be dependent on anyone or anything for our financial needs. That requires being free from debt. [Full Story]
ARC Loan Program
ARC loans can be used to make payments of principal and interest, in full or in part, on one or more existing, qualifying small business loans for up to six months. [Full Story]
TRUTH OR CONSEQUENCES
With these guidelines in mind, consider the general dos and don’ts of the loan submission package: [Full Story]
IRS Provides Tips on Filing a Prior-Year Tax Return
Uncle Sam’s sidekick, the taxman, is providing some advice for taxpayers who have a prior-year tax return outstanding to get with the program and file that return. Not filing costs you one way or another. [Full Story]
Promote Partnerships
Savvy retailers understand that sharing ideas and resources among like-minded and similar customer base businesses can lead to new found retail success. [Full Story]
Eight Great Tax Tips for Businesses and Self-Employed Individuals
You get a raise every time you find a legitimate tax deduction. The IRS lists only a small number of the allowable deductions on their forms, and they are not going to tell you about a deduction you failed to take. [Full Story]
Time for a Change … of Ownership
How are your assets owned? The way you hold title to property can make it less vulnerable to creditors’ claims. Consider these changes… [Full Story]
Top 10 Survival Tactics in a Tough Economy
As a small business owner, you must know how your cash flows. This isn’t fancy accounting: it’s simply tracking how cash comes in versus how it goes out. [Full Story]
Money To Do’s
With the changes occurring in today’s market environment, monitoring your finances regularly is critical to achieving your goals. Below are a few tips to get you started. [Full Story]
Office Advice
Early 2008, the IRS released an updated tax tip to help taxpayers better understand existing law as it relates to the home office deduction. [Full Story]
Cash Flow The Lifejacket of Your Business
The key to treading rough financial waters is knowing how to manage cash flow. Small/home business owners who want to make a success of their ventures have to focus on the commercial end of their enterprises. [Full Story]
The Advantages of Using Independent Contractors
For many businesses, there will come a time when you must consider whether to add new employees or hire independent contractors. [Full Story]
Can You Afford to Be a Co-Signer?
People with poor or little credit history often seek out a so-signer to become eligible for credit and loans. But many co-signers unwittingly end up in financial hot water themselves just by vouching for a friend or family member. [Full Story]
Going Postal
A lot has been written about protecting your e-mail address and messages from prying eyes. But what about our snail-mail service? You need to protect that, too. [Full Story]
Be Prepared When Asking for Money
Before a lending institution will give you a loan, the lender will ask you a series of qualifying questions that must in turn satisfy him before granting your request. [Full Story]
Should I or Shouldn’t I, When it Comes to Taxes
When it comes to your annual tax-filings you have two choices: Do your taxes yourself or turn the task over to a professional. [Full Story]
IRS Warns of New Scams
WASHINGTON — The Internal Revenue Service today warned taxpayers to beware of several current e-mail and telephone scams that use the IRS name as a lure. The IRS expects such scams to continue through the end of tax return filing season and beyond. [Full Story]
Tips to Get out of Debt
At some time most of us have borrowed too much and before long, we find ourselves or our home business financially challenged. The most critical thing is to get a handle on it immediately. [Full Story]
How I Survived an IRS Audit (and How You Can Too!)
Though I read the letter three times, there was no mistaking the grim news: I was being summoned to the IRS for an audit. I had an instant flashback to the third grade when I was called to the principal’s office. [Full Story]
Tax Strategies for an Unprofitable Business
It’s something no one in business wants to think about – but it is a fact of life. Businesses, even those run from home, may not make money every year. [Full Story]
The Four Factors of Risk
The critical factor in selling today is risk. There are four main factors that contribute to the perception of risk in the mind and heart of the customer. The first is the size of the sale. The larger the sale, the more money involved, the greater the risk. [Full Story]
TAX TIPS: Helpful Online Tools for Small and Home Business Owners
Whether you manage all of the finances for your office or trust the task to an accountant, the more you know about small business taxes, the better equipped you'll be to protect your hard-earned money. [Full Story]
The Profit Factor
Profit” and “wages” is not the same thing though many who work at home tend to forget this fact. After all, expenses (including owner’s salary) have been deducted; the idea is that there still should be something left over as profit for the owner or company. [Full Story]
When to Do Trade-Outs?
Trade-outs are not illegal or even sinister in any way if tax laws are obeyed. But some trades may not be subject to taxes. As the disclaimer always goes, check with your qualified tax preparer or attorney. [Full Story]
It’s the Bottom Line, Not the Top Line, that is Important!
I have a few small businesses…some of which could fit in a corner of a single “big box store”. But I take comfort in the fact that every one of my businesses feeds me, not bleeds me. [Full Story]
Learning to Love Your Lawyer
We’ve all heard the jokes about how everybody hates lawyers. But putting all jokes aside, there are times when you or your home business will need the service of a lawyer. [Full Story]
Simple Ways to Save Money or Use it Wisely
About everyone, it seems, is looking for ways to save money in their business today. There are some ways to cut costs without hurting the quality of your small or home business. [Full Story]
Time for a Fiscal Checkup
What are your goals, your needs and your desires for a better future? What can you do to make your life more prosperous? There are many ways to achieve your goals – one way might be to start a home business. [Full Story]
Costly Commingling
It’s a common practice for the owner of a start-up business (home businesses included) to commingle personal and business funds, pay its costs out of pocket,
and have the business pay you back. But this can be a costly mistake! [Full Story]
Educate Yourself Against Scholarship Scams
The temperature may still be hovering in the 90 degree range, but the school bell will be ringing before you know it. Money is tight since you started your own home business and as a parent you’re intensifying your efforts to find help . . . [Full Story]
Is Your Tax Accountant/Preparer Working for You or the IRS?
The perception that your tax preparer might be working for the IRS is partly correct. Most tax preparers want to avoid paying penalties and being put on the IRS’s “Problem Preparer List” [Full Story]
Don’t Be Left Out In the Cold This Tax Season (Part II)
You do not need to hike into the wilderness to get organized, but without some of your energy here, you will be left out in the cold. The key is to work smart. Here is a simple way to get started: [Full Story]
Don’t Be Left Out In the Cold This Tax Season (Part I)
Last December, Doug hiked out into the mountains of Colorado and locked himself in a cabin for three days. It was his annual trip to the cabin; he would spend hour after hour sorting through piles and piles of receipts, checks, bank statements and hand written mileage logs. [Full Story]
Loss Prevention Tips for Credit Card Fraud & Identity Theft
Everyone’s talking about credit card fraud and identity theft. As we find ourselves in the holiday season it’s important to be cognizant about these issues. [Full Story]
Are Your Business Checks Safe?
You’ve probably heard about “check washing.” This has become a very serious issue costing Americans millions per year and is rising at an alarming rate. [Full Story]
Got Gas?
Do today’s high prices of gasoline seem to put a damper on your business and travel budget? Of course they do, but here are some tips from drivers in the know that can help you reduce the number of trips to the gas pump: [Full Story]
Do What Works and Stop Doing What Doesn’t
Success is simple. Just be clear about what you want and go after it. That and a few million details and you’ve got it made. [Full Story]
Fuel-ishness Rules for Safe Refueling of Your Vehicle
With the luxury of technology at our fingertips today, a home business owner often finds him or herself utilizing cell phones, laptops, and other equipment on a daily basis. And, many home business owners’ automobiles have become their office on wheels. [Full Story]
Dragons at Your Gate
Keeping your computer safe from attack by virus means investing in software such as anti-virus programs and firewalls (and making sure the firewall that was included with your computer is turned on). [Full Story]
Internet Insurance Scoop
Did you know that most business insurance policies exclude coverage for Internet related problems? Regular business insurance policies often cover the physical damage, destruction, or theft of a computer, but these policies do not cover lost data, the [Full Story]
Check It Out … Quotes, Notes, Updates and More
Quotes Ann Frank “How wonderful it is that nobody need wait a single moent to improve the world.” [Full Story]
Picking a Collction Agency ithout Spending a Fortune
As a small business or home based business owner, nothing is more irritating than having customers who never pay on time. There you are, working your fingers to the bone in order to stay afloat, only to have cash flow constantly hampered by a handful of deadb [Full Story]
Different Kind of Loans
In the world of finance, an incredible variety of loan types exist along with an almost infinite universe of different loan terms and conditions. There is no one “right” answer when it comes to which kind of loan is best. [Full Story]
Gone, But Not Forgotten
Here’s a scenario for you. You buy a new PC and donate your old one to charity, knowing you’ve protected your privacy by deleting all your old files – or better yet, reformatting the hard drive and wiping it clean. Later, you discover you’re a victim of identity theft. How did this happen? [Full Story]
Check It Out … Quotes, Notes, Updates & Surf Sites
Inspirational & Humorous Quotes
Anon. “Know your limits … but never stop trying to exceed them.” [Full Story]
Check It Out … Quotes, Notes & Updates
Inspirational Quotes: George Eliot “Wear a smile and have friends’ wear a scowl and have wrinkles.” : [Full Story]
Growing Your Money
Equity mutual funds might be an option to check out to grow your money. With over 10,000 funds to choose from, how does a new investor spot a superstar fund? [Full Story]
Check It Out … Quotes, Notes & Updates
Inspirational Quotes Yogi Berra: “You can obseve a lot by watching.” [Full Story]
Six Ways to Reduce Your Chances of Getting Audited
It is easy to reduce your chances of an audit if you know what to do. It is tax knowledge that will give you the secrets of the rich and make your life less taxing. [Full Story]
Things to Do in an Up, Down, Sideways Economy
No one seems to agree whether the economy is on the mend or if it ever was in need of repair. Some say there are definite signs that the economy is stabilizing; others say that time of stabilization is further down the year for recovery. [Full Story]
Back Up Your Numbers
There is a long list of essential information that we accumulate over the years. All of this data must be kept secure, but yet it needs to be accessible in an emergency. [Full Story]
Scams, Fraud & Security
How do you avoid getting scammed? If it’s too good to be true – it probably is. [Full Story]
Check It Out … Quotes, Notes & Updates
Inspirational Quotes Anne Frank: “How wonderful it is that nobody need wait a single moment to imrove the world.” [Full Story]
IRS e-AUDIT SCAM
All taxpayers should be aware of a scam designed to illegally obtain personal information. Some taxpayers have received an email from a non-Internal Revenue Service (IRS) source indicating that the taxpayer is under audit and needs to complete a questionnaire [Full Story]
Tax Tips For the Last Minute Filers
Have you ever asked yourself why you procrastinate when it comes to filing your taxes? For whatever reason you’ve waited, it’s now mid March and if you’re like most of the populous (who are not getting a refund), you’re contemplating the deed. [Full Story]
Recording The Source For All Deposits In Your Check Register
Too many times people have said at my seminars that they are worried about an audit because they do not keep the receipts for the documentation taken. Unfortunately, there is more to an audit than worrying about documentation for deductions. They need to worry about the income side as well. [Full Story]
How To Find A Good Accountant
First, not all accountants specialize in taxes. Many accountants perform audits, computer studies, and the like. [Full Story]
Check It Out … Quotes, Reading & Ideas
Inspirational Quotes “Do not go where the path may lead, go instead where there is no path and leave a trail. --- Ralph Waldo Emerson [Full Story]
Personal Inflation Rate
When Wall Street and other experts speak about inflation, often they are referring to a government-compiled statistic called the Consumer Price Index (CPI).
The CPI is compiled monthly by the Bureau of Labor Statistics to reflect overall changes in the prices of a [Full Story]
Charitable Donations - A Tax Deduction -
Many home business owners are looking for ways to lend a hand or help those in need. With so many in need and so many wonderful causes, many groups are asking for your donations. Many of us are moved by these appeals and want to help. [Full Story]
Defining Your Financial Goals
Here are some tips to consider as a small or home business owner when reviewing your personal financial planning. Your financial and legal advisors can provide more detailed information and should be consulted before taking action. [Full Story]
Self-Employment Tax
When you start a home-based business, it would be nice if you could simply concentrate on making as much profit as possible. Unfortunately, you must also concern yourself with trying to stay out of trouble with city, state, and federal taxing authorities. [Full Story]
Clicking for Coupons
Everybody wants to save money, especially if you're just getting started in your home-based business. Clipping coupons from your Sunday newspaper has been a mainstay of American life for many years. [Full Story]
Most Common Tax Filing Mistakes
One of the most common mistakes made by taxpayers is the incorrect reporting of income. If you received a Form 1099 from any payor, be sure it is correct, but be sure it is reported on your return, even if it is wrong. [Full Story]
What to Consider When Choosing Tax Software
So you've decided that this is the year you're going to prepare and file your taxes electronically. You'll be one of the millions of self-preparers to file electronically. As a savvy home business operator, you need to decide between a web program or desktop software. [Full Story]
E-Filing Wins Industry Approval
When the time comes to prepare your taxes, you may want to send that box of receipts via e-mail. A trend has emerged in the accounting industry, as more and more accountants take advantage of online services [Full Story]
Uncle Sam & Your Internet Taxes
As a home business owner, there's probably nothing in the world that gets you more riled than the thought of paying more taxes. As you prepare to put your Web marketing plan into action, you might wonder, are there any tax surprises waiting for you online? [Full Story]