It is that time of year when most businesses give bonuses to their employees. So how do you account for them? Bonuses that are given in the form of money […]
Business
Can a Medical Reimbursement Plan save you taxes?
Medical Reimbursement Plans are a great tax strategy for most businesses. Flexible Spending Accounts are a form of a Medical Reimbursement Plan. What a MERP does, is it allows a […]
The Good, the Bad and the Ugly of dealing with the IRS
Everyone panics when they get any correspondence from the IRS, even if it’s a good notice (yes, they do have those). The first step: Don’t Panic. The second step, don’t […]
When did you know without a doubt that you are in the right business?
I am a CPA, but I didn’t start out to do this for a living. My first degree was in Psychology; then I went back to school and got a […]
Jack of all trades
I find it interesting that Entrepenurers in general seem to have the idea they have to be an expert in every part of their business; from how to clean the […]
Vitamin C deficiency – Cash, Capital, and Customers
Does your company have a Vitamin C deficiency? Daymond John from the Shark Tank defines this as having a lack of CASH, CAPITAL AND CUSTOMERS. I feel this can define […]
Bad debt is a sin
Ezekiel chapter 18 gives us lists of how both the righteous and the unrighteous live. On this list is how debt is dealt with. The person lending the money needs […]
1099’s: why, when and how many
Each year I get the question why should I file 1099’s? The fact is they are required by law. This form is often associated with independent contractors however it could […]
Do you really want a refund?
It seems like the one question I get asked the most when it comes to taxes is: “How much is my refund?” The real question should be: “Why am I […]
Can you serve God with your business?
Brother Lawrence (Nicholas Herman); a Carmelite monk; wrote in 1666, “The time of business does not with me differ from the time of prayer.” Lawrence had been given the job […]