Tag: Small Business

Avoiding Common W2 Filing Mistakes

January 31 is the deadline to have W2 forms to your employees. Unfortunately entrepreneurs often make errors when completing them, so I'm going to share what to look out for so these errors can be avoided. If you have an...Read More

Backup Your QuickBooks File to Avoid Data Loss

Imagine that you are ready to do your bookkeeping, you try to open your file and find that your data file is corrupt or lost. What would you do? Unfortunately this can happen, and merely assuming that the online backup...Read More

A Sales Tax Rate Has Changed. Now What?

Do you sell taxable products or services? If so, you have tax rates set up in your bookkeeping software, and one (or more) may need to be changed at some point. But how should you handle this update? The first...Read More

OSHA Revises Reporting Rule for Severe Injuries

Hopefully those employed by you are never injured on the job, but if they are, rules apply to when you must report the injuries. OSHA (Occupational Safety and Health Administration) has updated its severe injury rule requiring employers to notify...Read More

Is Your Small Businesses Protected Against Payment Fraud?

You have most likely heard IRS warnings against tax fraud, or been cautioned numerous times about the dangers of identity theft. But what about your business? Not only must we be aware of fraud attempts against personal property and assets,...Read More

Understanding How Accounts Affect the Balance Sheet

In the last two posts, I explained the different types of accounts that appear on the balance sheet. This report shows the health of the business at a single point in time. For instance, if you want to know the...Read More

Thrive At Sales Calls With a Potential Clients

Have a sales call process that you continue to track, evaluate and continue to upgrade with each call you become more and more effective. Start by acknowledging the prospect for their interest, asking them what prompted their interest, what challenges...Read More

Keeping Track of Use Tax and Avoiding Surprise Audits

Use tax and sales tax both are used to fund state and local services paid for by the states. And dodging either of them, intentionally or unintentionally, constitutes non-compliance and puts you and your business at risk for audits. In...Read More

Thinking of Hiring a Temporary Worker? Be Aware of Your Requirements.

Is the workload in your business seasonal? Are you thinking of hiring temporary help in the near future? If so, keep in mind there are some things to consider. What are all the costs associated with a regular employee that...Read More

Preparing Your Small Business for Minimum Wage Increases

Minimum wage may soon be changing. Federal law dictates a minimum of $7.25/hr, although many states are higher. Currently federal legislation is now proposing $10.10/hr as the new minimum. Some states and counties are already ahead of the game. The...Read More