Top 7 Budgeting Errors

A budget is a critical tool for all businesses. However, many budgets fall short of providing the financial guidance that managers and owners desperately need. Having prepared numerous budgets, I ‘ve discovered first hand the pitfalls and key requirements of creating a viable budget. The budgeting mistakes most commonly made include: Underestimating the cost of

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Amazon vs. Sales Tax in Nevada

Yesterday I was interviewed on the radio show “Having It All” with Jenifer Rose on 99.1 FM Talk.  We discussed a hot topic concerning Amazon and sales tax.  Amazon does not collect sales tax in Nevada for sales made to Nevada residents.  Consumers are required to remit the sales tax to the Department of Taxation

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Audit your Audit

I routinely provide payroll information for worker’s compensation audits for my clients, however, I am not always the one who gets the final bill. This last week I did get a bill for one of my clients for whom I had filled out the audit paperwork. The second I looked at it, I knew it

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IRS Offers Videos to Assist Small Business Owners

The IRS currently offers a 9 part video series on teaching business owners their  tax responsibilities.   The series includes the basics that all small business owners should be aware of after starting their business.  I highly recommend all new business owners view them.  And, it probably wouldn’t hurt long time business owners to take a

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Smart Quickbooks Tip: Bank account colors

If you use multiple bank accounts, you can change the colors so you don’t accidentally use the wrong account. You can also do it just to soften the effect on your eyes or select your favorite color. How: Click “Banking”-> “Use Register” and then click “edit” (at the top of the screen) and “change account

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Successful Cash Flow Control

Managing cash in today’s economy is essential to business success. Cash flow is vital but how to control it? Here are some simple tips to help you manage your cash flow a little better. 1. If you extend credit, be sure to monitor accounts receivable regularly. Have a person who is dedicated to watching the

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Writing Effective Hardship Letters

Hardship letters are used whenever conventional methods of debt management don’t work well. A hardship letter is a way to document in writing what the issue is, what solution you propose and the potential outcomes. This article will outline the six steps in creating an effective letter. Step 1: Start with why you are writing

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Right Now

Most of us have so many things on our mind every day, and to top it off we are more accessible than ever before with our mobile devices, e-mail and phone. With all of these communication devices we are unable to stop at the end of a workday physically and mentally. Even if we do

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Debt Negotiation for Struggling Business Owners

One of the biggest issues business owners find plaguing them right now is debt. Dealing with mounting debt is a very sensitive issue and something that must be handled with care. The first key to dealing with overwhelming business debt is first to stop the bleeding. You cannot effectively work with creditors when your debt

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Email information compromised: Should you care?

The company that provides email service for many major companies was “hacked” recently. Their clients include companies such as Target, Verizon, Capital One and many more.  The press release states that no other personal information was stolen such as account numbers or credit card numbers. You figure, it’s only my email address, so why should

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