Employers offering use of a company auto to employees must report fair market value of personal use as a non-cash fringe benefit on the employees’ W-2, this includes officers of S-Corporations. Officers of S-Corporations are required to add the amount…
It’s 110 in the valley, and it’s a great time to make sure that you have all the correct forms on file for issuing 1099s and W-2s at the end of the year. The IRS requires 1099’s to be issued…
The IRS has extended the tax credit for small businesses paying 50% or more of their employees’ health care premium. For 2012 & 2013, the IRS is offering a credit of 35% of the premiums paid by the employer. This…
Just came a cross a great article on Budgets Are Sexy.com recapping Money Magazine's thoughts on how we can stay on track with our financial plan at every age. Here's their thoughts: "Here’s how Money Mag thinks we can stay on track:…
IRS Offers New Penalty Relief and Expanded Installment Agreements to Taxpayers under Expanded Fresh Start Initiative WASHINGTON — The Internal Revenue Service today announced a major expansion of its “Fresh Start” initiative to help struggling taxpayers by taking steps to…
You spend all this money creating a business, growing the business, investing in the business, investing your people, everything down to even buying the staplers. How have you actually branded your business? Poor branding is one of the most negative…
Have you ever had the scenario where you expected something to go one way, but then it when a completely different way? This is what is considered lack of controls and the company. Lack of controls can cause serious damage…
Lack of standards. Many times, when you open a business, you are so busy just working on getting that would you out the door that you forget what it's like to be the customer. You forget what it is…
Okay, so now they've hired someone, you've realized that they shouldn't be there. What an awful feeling. Unfortunately, you are the business owner. You need to make the decision to do what is right for the rest of your people…
Have you ever made a plain bad hire? Now, how did it happen? About higher can cost a company up to seven times that person's revenue for every day that they stay on board that they really shouldn't. A bad…
Today we had an amazing experience with an energy-saving company here in the Valley. They came out yesterday to do a survey of our overhead fluorescent fixtures. It took us all of about one hour from start to finish and…
COGS - do you know what this stands for? COGS stands for cost of goods sold. What this means to your business is really a question for you. Do you understand what it really costs to sell whatever your item…
So, did the title catch your attention? Our first deadly sin is the sin of sloppy accounting. I know, I know not nearly as exciting as the actual seven deadly sins but what you do, I'm a CPA! So, how…
There's a big issue out there these days. I've seen many companies that do not have or do not have an updated operating agreement. The big question is, do you even know what an operating agreement is? An operating agreement…
Here are some of my top 10 tips to help you become profitable in this new 2012 year. Identify your core clients. These are the clients that always pay you, always pay on time, you love working with. Anyone who's…
