Reaching people who do not use social media

Posted Leave a commentPosted in Business networking

My business-building activity primarily relies on old-fashioned personal mentions from well-connected people I already know to higher level people in my target markets, or the government officials that control those markets, who I do not know.  My activity simply allows me to get the cell phone number of the person I want to meet and […]

Low tech approach to avoid computer spying

Posted Leave a commentPosted in Computers and Internet

Last week I made a post of unusual and unexplained personal security issue that seemed to know that an advertiser knew what I was thinking, but had not spoken or written down. An customized advertisement appeared offering to sell me a Bobcat loader (hardly a common consumer advertisement) on the day after I considered buying […]

Alarming financial reports leaked

Posted Leave a commentPosted in Banking, News and Politics

Questions about the leaked reports from the Financial Crimes Enforcement Unit (FinCEN): All parties acknowledge this disclosure places the employees of financial institutions in danger. How badly is this going to deter anyone in the financial industry from complying with the law going forward? If employees in these institutions were following the law in reporting […]

Covid small business disaster story update

Posted Leave a commentPosted in Accounting, crisis management, Small Business

My list of Covid small business accounting horror stories is down to just three remaining open and unresolved: 1) A bank that extended a PPP loan application to 4 1/2 months and still counting; apparently due solely to lack of internal process control. I follow up with them every two to three days. All involved […]

Updated 2020 Tax Planning Checklist for Small Business Owners

Posted Leave a commentPosted in Financial Planning, Tax Planning

Begin by forecasting 2020 taxes based on 2019 results – easy with today’s professional tax software Maximize tax-free pandemic relief payments Use a Health Reimbursement Arrangement (HRA) for tax-free payments Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) for insurance assistance Add a Health Savings Account (HSA) for long term health security Adapt an employer-sponsored Education […]

Update on pandemic payroll tax deferrment

Posted Leave a commentPosted in crisis management, Payroll, Small Business

New guidance on the so-called pandemic payroll tax deferment issued by IRS last week does not change previously issued guidance to small business employers. The new IRS guidance strengthens the argument that employers should not make any change in payroll tax practices at this time. Deferent of payroll taxes, if not paid timely in early […]

Of the seven Covey habits, which are your strongest and weakest?

Posted Leave a commentPosted in Leadership, Values

My strongest habit is “think win/win”. In fact, that’s the basis of my business model and every client engagement. It’s also the reason that I object so strongly to the traditional sales psychology that too often creates a winner and a loser. I’m hugely committed to earning my place by creating financial results for others. […]

A business resurrection as consumer value returns to employee benefits

Posted Leave a commentPosted in Health Insurance, Insurance, Small Business

Going back since more than 20 years ago to the late 1990s, I was licensed as an insurance producer in all 50 states and the District of Columbia. It was – and still is – tough to be called a small business compensation and benefits expert without also being an expert in insurance. I was […]

Didn’t receive an economic impact payment?

Posted Leave a commentPosted in crisis management

Some people are still waiting for their $1,200 economic impact payment from the federal government. IRS confirms that a data entry error in 2019 TurboTax may be to blame. Forbes’ Rob Berger as been following the issue in a series of posts. Intuit, the makers of the software issued a statement “We are working closely […]

IRS announced a “major milestone in tax administration”

Posted Leave a commentPosted in Accounting, IRS, Taxes

The Internal Revenue Service will now allow taxpayers to submit Form 1040-X electronically when they want to file an amended tax return through commercial software. This will significantly reduce costs and increase efficiency for taxpayers who want to amend a prior tax return to claim a credit or correct an error. The IRS calls this […]