As entrepreneurs, we work hard for our money, and the last thing we need is to have it disappear due to fraud, hackers, or identity theft. Some people have called 2013 the year of the hacker, which is worrisome. But you’re far more likely to experience risks with disgruntled or financially desperate employees and contractors. Mistakes happen, too, and when they do it can be costly to get them corrected. Here are five ways to…
Read MoreIt’s always a good idea to be on the lookout for ways to increase your profits, and luckily, there are many ways to do that. One way is to focus on cost-cutting, and here are five places that are good to periodically review for cost-cutting possibilities. Telephone Re-negotiating with the phone company every one to two years is a really good idea. Many telecommunications companies will often bargain with you or offer you a new…
Read MoreFor businesses with fiscal years that coincide with the calendar year, the slate of revenues and expenses will be wiped clean on New Year’s Day. Starting with a clean slate gives us a chance to reflect on our 2012 results before we enter 2013 and experience the hope that comes with a new year. Hindsight is always valuable, and we can learn important lessons from our past mistakes that we can now more objectively look…
Read MoreWhen you think of an accountant’s duties, you might think about traditional tasks, such as tax preparation, bookkeeping, and financial statement preparation. Here are five additional tasks that accountants can help with that you might not think of. 1. Evaluating Current Accounting Employees How can you know if your accounting employee is a star that does everything right, is organized, and is fast or if you’ve accidentally hired someone who talks a good game but is…
Read MoreWe know we’ll never make tax season your favorite time of year, but perhaps we can make it easier. Here are five things you can do now to smooth out the time required to pull your records together for your tax preparer. 1. Contractor Clean-up In preparation for 1099s, take a look at your vendor list now and identify who should receive a 1099. Perform a mini-audit and ask for any W-9s that are missing so…
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