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8 Important Year-Round Tax Planning Strategies

July 16, 2019
There is a certainty to paying taxes as Benjamin Franklin famously expressed, "In this world, nothing can be said to be certain, except death and taxes." Author Ann Landers said comically, "A person doesn't know how much he has to be thankful for unt
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5 Ways to Strongly Manage Business Debt

July 5, 2019
  Debt. We are all accustomed to debt. It is a reality of owning a home, using credit cards, or owning a business. Wise management of business debt can provide useful leverage versus creating problematic financial slavery. Manage Your Busine
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Tips for Hiring the Best Accountant for Your Business

June 15, 2019
  Here are two business truths: (1) Every business needs to manage cash, pay its employees, keep its financial records, pay its bills and process its taxes; and (2) Every business needs to have someone who will handle all the critical account
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How a Small Business Audit Can Benefit Your Company

June 12, 2019
  One word that might strike fear into the heart of a business owner: "audit." But, don't run screaming from the room. There are several types of audits and they should not be feared, including the IRS-conducted business audit. Both the benef
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Tracking Your Operating Income and Revenue is Essential

May 30, 2019
Ed Koch, the outspoken former mayor of New York, reportedly walked the streets of the city asking, "How am I doing?" As a business owner, you want the same kind of insights for your enterprise: "How is my business doing?" The Income Statement shows O
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Cash Flow Statements: Key to Understanding Your Business Profitability

May 15, 2019
For business owners in New Orleans and surrounding areas, understanding various financial statements is a critical part of running an effective and profitable business. From balance sheets to profit and loss statements, a business owner is tasked wit
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The Income Statement: An Important Tool for the Financial Health of Your Small Business

April 15, 2019
There are numerous metrics and data points that your small business should be tracking; one of the most important is business income. Indeed, an income statement is an essential financial statement that a business uses to understand its financial per
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8 Steps to Develop a Successful Strategic Plan for Your Small Business

April 2, 2019
You may recall the book "Alice's Adventures in Wonderland" originally written in 1865 by Lewis Carroll. The story relates the tale of a young girl named Alice who falls through a rabbit hole into a fantasy world. In the book, Alice is walking alon
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The Balance Sheet: A Critical Document to Understand Your Business Finances

March 15, 2019
Here's the tough news. Among the top reasons for today's business failures are misunderstanding and mismanaging resources, and having insufficient cash. Enter the balance sheet.   What's a Balance Sheet? A Balance Sheet is one of three crit
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You Don’t Have to Panic this Tax Season with Good Tax Recordkeeping

March 1, 2019
Even if your small business is running smoothly otherwise--maybe even thriving--the fact that it is tax season, is enough to make any small business owner shudder. Indeed, even those business owners who have been keeping detailed records may feel ove
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Steps to Closing Your Business

September 13, 2017
Closing a business is never an easy decision, but the speed in which it can occur depends on your tactics. If you are a sole proprietor, you could close up shop without consulting any other parties. That’s not necessarily the wisest move, espe
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Estimating Small Business Start-up Costs

September 8, 2017
No business ever starts with the problem of having too much money. Barring a lottery ticket win that spurs endless cash into a venture, most entrepreneurs take the leap into business ownership with a shoestring budget and gut determination. If youâ
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Retirement Plannning for Small Business

August 26, 2017
Business owners, especially those born between 1946 and 1966, are at a higher risk of not saving for retirement. Help to not think about retirement will help them portal tecasinow.wordpress.com. The information gathered there will teach you how to mu
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New to Small Business?

August 25, 2017
If you started a new business in 2016, then April of 2017 is a first big milestone for your company. That’s the month when your first reported tax documentation is due to the IRS. Depending on your business type, you may be responsible for not
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Cash Flow Q&A for Start-ups

August 23, 2017
One of the most difficult balances to maintain in any business, but particularly small business, is the constant tug of war that happens between cash in and cash out. The nuances of how to keep enough cash on hand to pay expenses and cover the ebb an
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Tax Credits Just for Small Business

July 25, 2017
Tax credits are important for business. For each tax credit dollar, the tax payer will receive one dollar in tax reduction. There are certain tax credits earmarked specifically for small business use. Let’s review each one as well as the defin
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Your Computer has been Locked.

March 1, 2017
[av_textblock size='' font_color='' color=''] These dreadful words can mean not just a headache for your business, but thousands or even hundreds of thousands in order to retrieve your company’s most precious commodity, data. Ransomware att
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What is PASBA?

July 22, 2011
PASBA stands for the Professional Association of Small Business Accountants. It was formerly known by the name of the National Association of Small Business Accountants. This organization was founded in 1982 with the idea of strategically organizing
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Selecting the Right Accounting Firm

March 16, 2011
Owners of small businesses place much emphasis on fees when choosing their accounting firm. Fees are an important factor and need to be affordable. Often, however, business owners compare fees yet fail to scrutinize big picture issues such as: Qualif
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Why Do Businesses Fail?

March 16, 2011
Recent surveys show that the survival rate of new businesses average about 20% over a five-year period. In other words, if you start 100 new businesses today, 20 of them will still be in business five years from today. The other 80 will have gone out
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Recordkeeping 101

February 8, 2011
Even with the information and technological age upon us, it is still critical for small businesses to keep a well-organized set of physical records. Often one of the first questions business owners ask when meeting with an accountant is about recordk
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Help! I’m Being Audited

December 5, 2010
After just a few short years in business for herself, it was her first run-in with the IRS and she was panicking.  Thankfully, she had used a certified public accountant (CPA) to help her set up the business and file her taxes each year.
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Should I Hire My Spouse In My Business?

December 4, 2010
Your spouse may spend a considerable amount of time helping out at the office. Sooner or later, you will probably ask yourself the question, Are there any tax advantages to making my spouse a formal employee? While the answer depends on your individu
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