Archive for the ‘Business Finance’ Category
Fast and Easy Cash Accounting….oh, it’s Accrual World
March 8th, 2010 | 
Author: 
Holy Cow! I'm Not Equipped to Make These Decisions Yet!
Accrual Method or Cash Method Accounting?
Unemployment Benefits: No Free Bailout For You
It’s been a tough year for Americans, and the numbers are looking pretty grim as we go into the Holiday Season. Florida’s overall unemployment rates are hovering just over 11% and nationwide they’re around 9.6%. According to The Wall Street Journal, the average length of official unemployment increased to 24.5 weeks, and the numbers of long-term unemployed has jumped to an all-time high of 4.4million. Everyone feeling jolly yet?
Well, there is one small ray of sunshine: Last week President Obama signed the unemployment extension legislation which provides for 14 weeks of extended benefit coverage for every state and an additional 6 weeks, for a total of 20 weeks, in high unemployment states where unemployment is over 8.5%. Read the rest of this entry »
New to Self-Employment Business Orientation: How to Avoid Tax Problems & Pave the Way to Success
Today people have more choices than ever before when it comes to making a living. Even those who keep their regular full time positions as employees are taking on side work as independent contractors and some are choosing to make the leap to full time self employment or starting their own small business.
Make sure you have your “parachute” packed when making the leap from employee to sole proprietor!
Finding the Right Accountant to Help Build Your Business
You know you need an accountant to help you figure out your financials and you’re worried about the looming possibility of being hit with a big tax bill in the spring. The problem is, you’ve heard horror stories from friends and family about awful accountants. So now you’re left wondering, how do you know what you’re getting yourself into?
Last week I went over the different types of accountancy services generally available to business owners. This week I wanted to follow up with some advice on an even more individual level: finding an accounting professional you can get along with, communicate with and work with. Yes, that’s a big deal.
New Team Member & Launch of New HOA / Condo Management Service Division
Clearwater, FL – Fredrick James Accounting, Tax & Consulting, a locally owned and operated firm, announced this week the addition of their newest team member, Julie Trimpe-Steed who will be heading the new Home Owners & Condo Association Management Service division.
Julie Trimpe-Steed joins the team at Fredrick James as head of the new HOA / Condo Association Management Division
How to (Really) Find A Good Accountant
I’ve noticed there has been quite a lot written about finding a good accountant but most of it tends to generalize rather than offering detailed advice to help consumers base their decisions on. So I will do my best to keep it brief, but I will also aim to provide you with some meaty information that can really help you in choosing an accounting service for your business. I should mention here that this post is mainly geared toward business owners, but the same principles generally apply to individuals as well. I should also mention that this discussion is full of generalities when I describe the different types of accountants and accounting solutions available.
Waiting until tax time to hire your accountant / bookkeper / accounting firm is is akin to waiting until labor begins to choose the doctor who’s going to deliver your baby!
Its Here & There Is No Escape: Business Tax Return Deadline Sept. 15
I hate to be the bearer of bad news, but the time for putting off your business tax return is over. But, of course, you’ve already turned in your paperwork to your Accounting professional and you’re all set to go because you know corporate and partnership tax returns are due September 15, 2009 (assuming an extension was filed), right? So there’s no need to also mention that individual tax returns are due October 15, 2009 (again assuming an extension was filed)? Uhhh, riiiggghht…
Doh! I forgot to file my taxes!
Posted in Business Finance, taxes | 
Tags: accounting, extensions, good business practices, late filing, small business, tax, tax law, tax return, taxes | 
2 Comments »
Employee or Contractor, Which Will It Be?
Last time we went over some of the tax differences between employees and independent contractors and why it’s important to choose carefully. Today I want to discuss the method used to classify a worker as either an employee or independent contractor in an attempt to help clarify a somewhat murky area.
Employee or Contractor?
Posted in Business Finance, taxes |
Tags: business taxes, common law, contractor, employee, form SS-8, independent contractor, taxes |
2 Comments »
Starting Your Own Business: Choosing Your (Tax) Words Carefully
“Small businesses create most of the nation’s new jobs, employ about half of the nation’s private sector work force, and provide half of the nation’s nonfarm, private real gross domestic product (GDP), as well a s a significant share of innovations.” -SBA 2008 report to the President
There has been so much media coverage about the current economic decline here in the US that it is easy to find ourselves feeling helpless and, at times, hopeless that the situation will ever turn around. Fear not, my fellow Americans, the end is far from near. Adversity is actually a good thing for our economy—economic upheavals, historically, have proven to be the motivation needed to shake Citizens out of their industrial stupor and get them thinking about new ways to do business, new niche products or services that are not being provided and creative ways to make a living.
Posted in Business Finance, taxes |
Tags: deductions, economic downturn, employees, federal tax, income taxes, independent business, independent contractor, Medicare, new business, payroll taxes, Social Security, tax, tax deductions, tax law, tax payments, tax withholding, taxable income |
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Singin' the AR Blues (Part 3) Collecting Past Due Invoices-The Last Stand
You’ve made the phone calls, sent the emails, set up payment plans and have been checking your mail box every day for the payment your client has been promising you. Don’t give up just yet on collecting what is owed to you!
You have one final course of action at your disposal: report them to Dun & Bradstreet and/or other credit agencies and bring a court action against them. Send your client a certified return receipt letter and email explaining the procedure you will use should they not respond, while expressing your unhappiness in a professional manner in taking these steps and at losing their future business.