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Cash Flow: The Pulse of your Business

Cash flow is the lifeblood of any small business. Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services! While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer’s business, you can always work […]

Early Retirement Plan Withdrawals and your Taxes

Taking money out early from your retirement plan may trigger an additional tax. Here are seven things that you should know about early withdrawals from retirement plans: 1. An early withdrawal normally means taking money from your plan before you reach age 59 1/2. 2. If you made a withdrawal from a plan last year, […]

Turn Your Vacation into a Tax Deduction

Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did–and was able to legally deduct every dime that he spent on his vacation. Here’s how he did it. 1. Make all your business appointments before you leave for your trip. Most people believe that they […]

Bitcoins Treated as Property for Federal Tax Purposes

Many retailers and online businesses now accept virtual currency for sales transactions, but the federal tax implications were relatively unknown until recently when the IRS issued a set of FAQs on virtual currency such as bitcoins. The FAQs provide basic information about the U.S. federal tax implications of transactions in, or transactions that use, virtual […]

5 Ways to Accelerate Your Receivables in QuickBooks

If you asked five small business owners to name the top three roadblocks they face in their quest for ongoing profitability, it’s likely that all five would point to slow payments. It’s everyone’s problem. Accounts receivable requires constant monitoring. As satisfying as it can be to dispatch a group of invoices, you know that it’s […]

SPRING FORWARD, FALL BACK: SECTION 179 FOR 2014

As some business owners know, the extremely beneficial tax law that allows for the immediate deduction of equipment and other fixed assets known to many as “Section 179” has been the subject of a significant change in 2014.  The change is actually just a fallback to the historical rules.  The law allows for up to […]
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