Patricia Anderson No Comments

Are Your Workers Contractors or Employees?

If you have workers in your business, you likely made a decision when you hired them as to whether they should be an employee or a contractor. If all you hire are employees, then you have nothing to worry about. But if you hire contractors, there may be some financial risk you may be taking that you may not know about. Any person that runs a business as a sole proprietor that you pay money to for services rendered is considered a contractor. One difference between an employee and a contractor Read more [...]
Patricia Anderson No Comments

Do You Have a Revenue Plan for 2015?

A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet. Start by listing all of your products and services, listing one product or service in each row of a blank spreadsheet.  Enter the description in the first column and use the second column for price. You may be able to Read more [...]
Patricia Anderson No Comments

Planning for a Fabulous 2015

The holiday month of December brings celebration as well as reflection for all the events that occurred in 2014.  It also gives us great hope for a new fabulous start in 2015.  Here are three ideas to start 2015 with a bang. Find a focus for the year.Instead of getting into the rut of making and breaking resolutions, consider having a focus for the entire year.  Choose your focus from among things like: Developing a department in your business, such as your sales, marketing, operations, Read more [...]
Patricia Anderson No Comments

It’s Bonus Time

Year-end is a great time to think about rewarding your staff for a job well done in 2014.  Here are a couple of quick tips to help you make the most of bonuses while protecting your business and cash flow. Timing.  Would you be better off timing bonuses in this year to reduce 2014-year taxes or to wait until next year so they impact the 2015 tax year?  It’s something to consider before you dish them out.  Do what’s best for your business. The pretty holiday envelope.  It might be Read more [...]
Patricia Anderson No Comments

Catching Up with Your Contractors Before 1099 Time

In a little over a month, it will be 2015 and time for year-end accounting chores.   One of those chores is getting your 1099s out, and now is a good time to tie up loose ends so the year-end process can go smoother.  Here are some tips to do just that: Go through your vendor list and make sure each contractor that you are paying is marked in your accounting system as a contractor eligible for a 1099. Obtain a W-9 form from each contractor if you haven’t already, and update the address Read more [...]