It’s no secret that most people’s New Year resolutions wind up dead in the water long before Valentine’s Day rolls around – but what if the high failure rate is less about human nature and more about ineffective goal-setting technique? In this post, we’ll walk...
File cabinet filling up and you’re wondering which documents can be fed into the shredder? Here’s a simple guide outlining how long to hold on to the most common financial records. Tax returns Tax returns should be kept for a minimum of 3 years but a maximum of 7....
Few professions invoke classic generalizations quite like a Certified Public Accountant. You know the ones. An exhausted number cruncher, frantically checking and rechecking figures as they sip black coffee from a white Styrofoam cup with one hand and type wildly into...
Building a successful business from the ground up is never easy – but making one or more of the following critical errors can make your journey from start-up to exit significantly more challenging. Learn from the mistakes of others by avoiding these common missteps...
Working hard to resolve real-time challenges in your business is just part of being an owner – but sometimes, concentrating your efforts in the wrong places can potentially hold your business back. Understanding the importance of working on your business, and not in...
Avoiding an IRS Audit Making a mistake with reasonable compensation is one of the fastest ways a business owner can be flagged for an audit. Avoid being targeted by the IRS by paying yourself a “reasonable” amount. What is Reasonable Compensation and How do I...
According to IRS statistics, more than 50% of each tax year’s filed Schedule E forms show a loss when reporting rental income and expenses – but for many landlords, these losses are NOT tax deductible against other nonpassive income. In this post, we’ll explain why....
How much time do you spend each month developing strategic plans for your business? How well do your employees understand the overarching strategy of your organization? Do you even have your strategy defined and written down on a piece of paper? If your answers are...
