Category: Small Business
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Introduction to tax planning for professionals
You didn’t benefit from the Tax Cuts and Jobs Act? Your business and personal income taxes are still way too high? Don’t give up. Plan a new approach to build tax free income and a secure financial future. I’ve helped dozens of business and professional clients increase the portion of their earnings that they keep…
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How to reduce small business labor costs (without paying employees less)
This blog post uses examples of real current small business clients. I’m taking this opportunity to reinforce that the stories and examples that I use in frequent public posts are never presented in a way that compromises the privacy or identity of the business or individual. Small business owners feel the financial pressure of overhead…
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New Jersey small business survey
The voice and thoughts of small business owners should be heard, and we are asking you to participate in a research group of 1,000 small business owners throughout New Jersey to respond to key public policy issues. The research will be conducted by the Fairleigh Dickinson University (FDU) Rothman Institute of Entrepreneurship and FDU Poll,…
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Sample small business bill payment policies and procedures
Every small business – even one person firms where one person wears all the hats – benefits from having a well-considered bill payment policy. This sample policy is one that I drafted for a client with about $25,000 per month in expenses. The intent is to allow this to spark some ideas about how your…
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Opportunity Zones vs Qualified Small Business Stock: Which is right approach to revitalize Cumberland County NJ?
This blog post is meant as an introductory primer for community planners and local small business owners. Investors are encouraged to seek their own professional counsel. The Cumberland County Improvement Authority has a program planned for bankers and Realtors on May 3 that will discuss the local Opportunity Zones. Following the passage of the federal…
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Update on accounting business practices
In the normal course of business it is necessary to periodically update for changing trends, technology and legal and industry standards. This month I made the following six changes that will be reflected in future engagements: 1. Elimination of fax communications. Fax is just outdated, often insecure and inefficient. Instead, I encourage the use of…
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Business services checklist
While every small business has its own requirements for accounting services, this list compiles 20 of the most commonly requested help topics grouped in strategic groupings. Each contributes to overall success, but the needs typically vary over the life of a small business owner. The decision to perform each function internally, outsource or handle collaboratively…
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Butting heads on small business bookkeeping
I had unfortunate occasion to butt heads with an old-school bookkeeper. She is top quality with decades of experience. She knows her debits and credits and trial balances inside and out. She was quick to tell me that the accounting systems I use are worthless. The thing is: the world has changed. Not always for…
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Happy SBDC Day! March 20, 2019
Today is Small Business Development Center (SBDC) Day with over 1,000 events being held across the nation. I’m planning to attend an event at the Richard Stockton College office in Atlantic City later this morning. That NJSBDC office, led by dynamic director Carol Waties, has been helpful over the years in the development of Baysave’s…
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Electric power conditioners for small rural businesses
About a decade ago I began using power conditioner devices at my rural home and business location. These devices are also called “voltage regulators” or “surge protector s”or “battery backups”. I am aware that there are functional and physical differences in these categories of devices but for purposes of this discussion I am lumping them…