Category: Small Business
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The ‘dumbing down’ of the accounting industry
I’ve become more concerned with the ‘dumbing down’ of sectors of the accounting industry. Hardly a day goes by when I’m not solicited with advertisements about how to become a millionaire running an accounting practice without any accounting skills. Likewise my online group for tax advisers and planners is swamped with requests from people who…
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Adjusting payroll taxes for 2018
Once all the political commotion over tax reform settles, what most people care about is “Is my paycheck going up or down?” The problem is complicated by politicians promising a big tax cut on the television news and through social media channels while accountants warn that some people will likely pay more. The end result…
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The Paperless Office
I began the move toward a paperless office more than 20 years ago. Back then I operated a 5 person inter-discipline office with technology dominated by cables running from one machine to another. I was the the firm owner as well as the ‘technology guy’ by virtue of my early adoption of PC technologies1. By…
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Facebook Live: “30 Minutes to Faster, Easier, Cheaper Small Business Accounting”
Look for online announcements of upcoming presentations. I will be hosting a series of free, short, fast-paced online programs for small business owners, self-employed folks and part-time freelancers. The intent is to help us prepare to save time and money on tax accounting in 2018. It will be Facebook Live presentation with the ability to…
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Tax preparers consider expanding small business services
Now more than ever before, tax preparers are considering expanding their practice into small business services. We expect the number of self-employed people will continue to rise. They require assistance with a wider range of business support services than traditional individual tax clients. The market for these services is evolving at a rapid pace. Integrated…
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Want to pay less tax? Start with a review of your last return
Effective tax reduction strategies start with a review of you last filed tax return. There are at least three types of tax return reviews: 1) a high level review “Does it make sense given the facts?”, 2) a micro-level review “Did I miss anything or transpose any digits?”. and 3) a tax planning review (How…
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Small business action plan to profit from tax reform
We can now begin to make a reasonable forecast of the eventual form of U.S. tax law and, even with the list of uncertain issues, ask what it means to each of us. For me and my small business practice, this is how it plays out: Winners Tax and business advisers Rental real estate owners…
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Business Planning for 2018
As we begin this month of December 2017, it now seems clear that business taxes will be substantially different and more complicated in 2018. We can also be safe in saying that, for most businesses, nothing else will have as much impact on the net financial results of the business as this change in tax…
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Say thanks more often in business
The excerpt below comes from a post on social media by a business mentor. I realize that I don’t say thanks often enough. It’s not that I’m not appreciative but rather that I’m not communicative enough on things that I consider emotional or fluffy. In other words, for me it’s a ‘guy thing’. This works…