Forbes.com contributor http://blogs.forbes.com/people/mebiery/ http://www.forbes.com/sites/sageworks/2014/11/23/year-end-business-advice-that-goes-beyond-taxes/
PROBLEM: Our client was interested in purchasing a local business establishment that they were connected to. They wanted to be sure they were not paying too much for the business. SOLUTION: We prepared a cash flow forecast which indicated that they would pay too much if they accepted the sellers price. The cash flow forecast… …Continue Reading
The phone rings. The caller says they are from the Internal Revenue Service and they claim you owe taxes and must submit payment through a wire transfer or prepaid debit card. Or you receive an email supposedly from the IRS asking you to share your bank account, credit card or Social Security number. What should… …Continue Reading
IRS Direct Pay is a web-based system that lets taxpayers pay their federal tax bills or make estimated tax payments directly from checking or savings accounts without pre-registration. Go to http://www.irs.gov/Payments/Direct-Pay. Follow the five easy steps to pay your tax bill.
Oldenburg Accountants & Advisors acquired a new LLC client that was filing as a sole proprietorship. Their former tax preparer made a $30,000 reporting error. They used the figures from the client’s QuickBooks file without reconciling and tying out the accounts. He just entered the QuickBooks numbers into his tax software. The first step in our… …Continue Reading
Our client was operating as a single-member LLC, filing a Schedule C with his 1040 tax return. Net income was increasing each year as the business was successful and had substantial growth. We encouraged the client to elect to file the business tax as an S-Corporation to save taxes. The shareholder-employee of the corporation took… …Continue Reading
When defining KPIs for your business, it is important to drill down to the activities that are critical for business success and then put a measure of performance against them. You will usually end up with a small number of KPIs, which if measured on a timely and regular basis, will give you a feel… …Continue Reading