Category Archives: Small Business

Research Tax Credits are Cash for Your Business

Now that Congress has finally extended the research and experimentation credit retroactive to January 1, 2014 and through December 31, 2014, your business may be an ideal candidate to earn credits for unfunded research during the past three years (yes, … Continue reading

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Depreciation May Lead to Overstatement of your SBIR Indirect Rates!

Watch out! Depreciation may lead to an overstatement of your SBIR indirect rates. If you’re like most small contractors, you maintain your depreciation in your accounting system in the same manner as what is computed for your business tax return. … Continue reading

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Choosing the Right CPA for Your Business

Whether you are starting a business or already operating one, an accountant can help play a critical role in your business planning and development. At first glance, many people assume that a CPA is good for bookkeeping and year-end taxes. While … Continue reading

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We don’t have time to do it right, but we have time to do it twice…

Two former colleagues of mine explained their perspective of the hamster wheel of managing business. “We never have time to solve problems, but we always have time to react to problems by making the same mistakes over and over.”   … Continue reading

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Save Taxes by Avoiding the Sole Proprietorship

Sole proprietorships are the most popular business organization structure. Why? The most common answer appears to be “it’s easy” or “it’s cheap.” While these two statements are true, the reality is that ease and cost put your assets (and viability) … Continue reading

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If revenue is the most important task of your business, what’s next?

So, after revenue what’s next? This is easy….revenue that generates profit and timely cash flow. You can’t make a profit without revenue. You can be profitable and cash poor with revenue. You can be cash rich and lose money. There … Continue reading

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My company owes $30,000 in taxes, but my books showed a loss! What?

True story. Company X (as we will call them) had a small net loss their books and their QuickBooks accounting system is kept on the accrual basis. The balances are all correct. The company assumed that they owed no taxes … Continue reading

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