Look! Here I am, two weeks later with a new post as promised! As a spin off on my last post, this week I am going to talk about cash flow. Cash flow is one of the single most misunderstood and overlooked areas in accounting, so allow me to enlighten you! Most are probably familiar […]
Yes, this is my first blog post since January – I am embarrassed. Tax season, then life (read: kids out of school for the summer) did a phenomenal job of derailing the best of intentions to start blogging more regularly. This is going to be the first in what I hope will be at least
If I had a dollar for every time someone said to me, “I need to set up an LLC. I am making too much money and need to save on taxes,” I would have much more money than you would save in taxes by creating an LLC. If you are an individual running a business
This week, I wrote a guest blog post for The Milspo Project on military family finances and budgeting. Check it out! Also, if you are in the Fort Bragg, North Carolina area, I will be running one of the breakout sessions at The Milspo Project’s first event, EMBARK, next Wednesday, August 27, 2014. We’d love for
In the world of business, your bottom line is not always about your sales volume. Sure, as the accounting formula goes, sales less expenses equals profit, so it should be simple, increase sales, and profits increase. It unfortunately isn’t always just that easy, and can be much more about controlling costs. Lower costs also equal
I recently had the honor of writing an article for City View Magazine’s inaugural issue of “Fayetteville’s Finest: Who’s Who in Fayetteville.” You can check out my article, “An Accountant for Business and Personal Needs,” on page 32, along side many other helpful articles right here.
Being a military spouse and living in a military town, this subject is relevant to many of the people in my life and most of my clients, and most don’t understand it one bit! The Military Spouse Residency Relief Act (MSRRA) was signed into law in 2009 by President Obama to help alleviate the burden
One of the benefits of forming an S-corporation is that rather than being subject to employment (FICA) taxes on all of your business’s earnings, you are only subject to employment taxes on the salary you pay yourself. You may think to yourself, “Well, great! I will form an S-corporation and pay myself a salary of
One of the more frequent questions I receive from clients is, “What kind of records do I need to keep?” Some keep no records at all, some keep every last shred of paper that has passed their desk in the last 10 years. What’s the correct answer? Well, as with most guidance given by the
If you are like me and you run a very small business on a virtually non-existent budget, then you likely also have a home office. The home office is not just an object of convenience; it is oftentimes now your company’s ONLY office. While you are likely not paying yourself rent for this space, you
