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What Is Reasonable Compensation?

For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. Many small businesses have organized as an S Corporation form of entity.  In many cases, the S Corp election allows a business owner to save money on self-employment taxes, especially if they are operating as a sole proprietor.  S Corp profits, or distributions, are not subject to payroll taxes. How Much is reasonable? As a business owner taking Read more [...]
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Five Numbers You Should Know About Your 2016 Performance

Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance.  Grab your 2016 income statement, or better yet, give us a call to help you compute and interpret your results. Revenue per Employee This number measures a company’s productivity with regard to its employees and is relevant and meaningful for all industries.  If you have part-time employees, compute a full time equivalent total and Read more [...]
Patricia Anderson No Comments

Start the New Year with a 2017 Profit Plan

Are you ready for 2017 to be even better than 2016? If so, take a few minutes to reflect on the questions below and take action to set your 2017 profit plan. Question 1: What were the three best business things about 2016? No need to re-invent the wheel. If you knocked it out of the park in 2016, can you wash, rinse and repeat these tasks in 2017? If you’re having trouble thinking of three things, here are some hints: What apps saved you time and money? Did you make some good hires? Read more [...]
Patricia Anderson No Comments

Five Money-Saving Things to Do Before Ringing Out 2016

Hopefully you’re having a wonderful December with all of the holidays and parties this month. And if you’ve spent too much on gifts and decorations, never fear. Here are five money-saving things to save on your accounting and taxes. But hurry, you only have until year-end to cash in a few of these tips. 1. Check your profits     After adjustments, are your books going to show a profit this year? If so, you may want to try to increase business spending before year-end so you won’t have Read more [...]
Patricia Anderson No Comments

Is There Really a 4-Hour Workweek?

Tim Ferriss made the 4-hour workweek a popular concept in his 2007 book. But is there such a thing, and more importantly, can business owners like you and me cash in on it? As the last of the Baby Boomers approach retirement, the topic of working less while making the same or more income is popular. Here are five ideas to help you work fewer hours while making the same or more income. Active vs. Automatic Revenue Some business models allow you to generate automatic revenue. Automatic revenue Read more [...]