Consultants_Corner_Should_I_Use_Quickbooks

Question: It costs over $100 per month for an accountant to do payroll for my business. I could use QuickBooks and do it for under $50. What are the pros and cons of using QuickBooks for small business accounting? With user-friendly software such as QuickBooks available, many business owners feel they should be able to…

Read More
Keep_The_Organization_Simple

Organizations of all kinds have a bad habit of growing more and more complex. But an important feature for an organization focused on growth is keeping things simple. Whenever a big business fails, we often hear about problems with their organizational structure. It’s a similar story almost every time: The organization grew so big, and…

Read More
Job interview

As you add employees to your small business, it becomes increasingly important for you to have a way to evaluate their work and keep your workers on the right track. Having the framework in place for effective performance reviews will give you the opportunity to identify the goals and objectives for your company and determine…

Read More
Understanding_a_Financial_Statement

Your accounting will ultimately produce financial statements for your business. They are there to help you run the business, and effectively represent each decision you’ve made in the past to help you make decisions for the future. The financial statements accomplish this by translating everything into dollars and cents. But there are other benefits to…

Read More
How_to_Handle_Defamation_Claim

One of the most serious legal issues you or your business could face is a claim of defamation from one of your employees. These charges can be extremely costly to your business, and you need a careful, trained hand to defend against them. Small business owners need to be aware of what constitutes a defamation…

Read More
Is_This_Really_A_Business

Small home-based businesses have been touted as the last great opportunity for tax shelter. Maybe they are, but there are rules requiring that your business actually be a business and not merely a hobby for which you bring in a little cash to help cover costs. Hobby Loss Rules A Hobby Loss is a loss…

Read More
Entertainment_Expenses

You can deduct ordinary and necessary expenses to entertain a client, customer, or employee if the expenses meet the directly-related test or the associated test. Entertainment includes any activity generally considered to provide entertainment, amusement, or recreation, and includes meals provided to a customer or client. An ordinary expense is one that is common and…

Read More
Tax_Credits_General_Business_Credit

Your general business credit for the year consists of your carry forward of business credits from prior years plus the total of your current year business credits. In addition, your general business credit for the current year may be increased later by the carry back of business credits from later years. You subtract this credit…

Read More
When_HR_Department

Whether it employs 50 people or 5,000, every company must manage certain basic issues related to human resources. These generally include recruitment, interviewing and hiring of employees, orientation and training for new hires, maintenance of personnel records and compliance with Equal Employment Opportunity Commission guidelines and reporting requirements, and the administration of salary reviews, increases…

Read More
Business_Travel_101

A business trip is a good opportunity to do productive work for your business while earning substantial deductions. But it’s important to know the rules and limitations of deductions for business trips. You need to be aware of what constitutes a business trip, what things are deductible, and what you need to do to support…

Read More