The sad state of my small business telephone system

Posted Leave a commentPosted in Small Business, technoogy

I’m reviewing and looking for suggestions on the best setup for a small business phone system. The stature of the telephone as a business tool has fallen dramatically in status and usefulness in my business career. I remember being one of the early adapters of cellular technology in the late 1980s and early 1990s that […]

IRS issued more guidance on wage tax withholding

Posted Leave a commentPosted in payroll, Small Business, Tax Planning, Taxes

Yesterday the IRS issued more guidance on wage tax withholding rules in response to changes triggered by the Tax Cuts and Jobs Act.  Notice 2018-14 provides guidance to both individual taxpayers and employers on tax withholding requirements for wages. One of the most significant changes is the default rate of withholding on bonuses or supplemental wages is […]

Tax savings with accountable plans

Posted Leave a commentPosted in Accounting, Small Business, Tax Planning

The Tax Cuts and Jobs Act snuck up on many of us. Suddenly in January 2018 tens of millions of Americans are denied a range of tax deductions that have been part of our personal and business financial culture for more than a lifetime. While most taxpayers will see a decrease in taxes, some of us […]

3 steps to perfect small business bookkeeping

Posted Leave a commentPosted in Accounting, QuckBooks, Small Business

Small business bookkeeping in a perfect world would involve three steps: STEP 1: Enter transactions as they occur by the person actually making the transaction. For example, you stop to buy gasoline. You snap a photo of the receipt on your cell phone and enter the transaction on your mobile phone accounting app. Later you […]

Law firm productivity: the missing six hours

Posted Leave a commentPosted in Accounting, Law firm, Small Business

How to boost law firm productivity Industry results are consistent with last year The nation’s law firms share the same business productivity problems as I have observed and written about in small accounting practices like mine, according to industry data compiled by Clio1. The findings are substantially the same as a similar report in 2016. […]

Overview of post-ACA federal health insurance law affecting small businesses

Posted 1 CommentPosted in Affordable Care Act, Employee Benefits, Small Business

After the sweeping changes brought by the Affordable Care Act of 2010 that were phased in over the following several years, these federal actions then further molded small business health benefit plans: IRS Notice 2013-54 – restrictions on employer health care reimbursements not coordinated with ACA insurance plans. IRS Notice 2015-17 – restricts an employer […]

The latest on small business health plans

Posted Leave a commentPosted in Affordable Care Act, Employee Benefits, Health Insurance, Small Business

With all of the tax hubbub lately small business owners and their advisors have had a tough time keeping up with all of the changes. Small business health plans have evolved through a rapid succession of changes over the past year and a half. Yet relatively few employers have taken the time to sort through […]

A ‘systems’ approach to business improvement

Posted Leave a commentPosted in Accounting, Leadership, Small Business

Looking for ways to improve your business? It can be overwhelming when you are in the middle of day-to-day operations. Business advisers suggest looking at a business as just a combination of systems. Then looking at each system separately can lead to opportunities to learn more and make improvements. I’m a strong advocate of the […]

Small business employee benefits under the Tax Cut and Jobs Act

Posted Leave a commentPosted in Employee Benefits, Small Business, Tax Planning

This is the one version of an opening to a group of articles that I am preparing for specific industry or professional groups in my area of concentration: small business employee benefits planning. This version is for CPAs but other versions of the article will be appropriate for small business audiences. In the final weeks […]

Ways to improve response to email

Posted Leave a commentPosted in Marketing, Small Business, Social Media

This blog post was written after a week where I felt that responses to my warm emails (people I know or at least am a ‘contact’) and online messages. The tips are compiled from multiple sources. Use numbers. Keep it short. Use bullet points Use the word “because” Speak to value Make a clear ask Offer […]