S-Corporations provide several tax advantages to small businesses. But did you know there are a couple other reasons you should consider becoming an S-Corp? Let’s start with everyone’s favorite… Read more
When you read that the New York Stock Exchange (NYSE) might not be around in the next year or two, it gets your attention. I mean, the NYSE, the icon of American business and capitalism for the world. How could this have happened? Stocks are still being traded and the stock market is alive and kicking. Read more
I have read posts by really smart people that are pretty negative on budgets. Why? Usually for two reasons: 1) Businesses spend too much time developing their budgets and analyzing variances between actual results and the budget, time that would be better spent on actions that will help the business going forward, and 2) Budgets are quickly Read more
The 70thanniversary of the D-Day invasion, a huge military operation which changed the course of World War II, was being discussed on the radio the other day, and I heard this great quote by Dwight D. Eisenhower : Plans are worthless, but planning is essential.
I wondered how Eisenhower Read more
This is a set of questions to consider when you are developing a business plan for an entirely new business, or a new product or service that you are considering adding to an existing business. Read more
The business plan should not be primarily for outsiders, such as the bank or the investor group. However, that is often why they are generated. It should be a tool you actually use for running your business.
For a business plan to be useful, it needs to be incorporated into your Read more
Business plans are documents that tell you and others how you are going to run your business. A plan contains the decisions you have made and why you have made them. It is a comprehensive document that addresses all critical aspects of your business. Read more
Big changes in health insurance are taking place now as a result of the Patient Protection and Affordable Care Act, or “ACA”. I’ve had a lot of questions about the ACA and how it affects me, as a tax preparer and small business owner, and the clients I serve. Here is a compilation of the questions I’ve researched and the Read more
A restaurant menu is good analogy for what you need to have for your new business. You need to write down a list of what items and services your business will offer. For a new business, your business menu needs to be limited to only the items you are very familiar with and great at providing. Being an entrepreneur, you are naturally Read more
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