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Both the Wall Street Journal and Entrpreneur.com are reporting that the IRS is cracking down on small-businesses, suspicious that they are underreporting revenue and misclassifying freelancers. The Wall Street Journal investigated numerous letters that had been sent to small businesses, inquiring after what the IRS considers a “widespread problem: failure by businesses, including mom-and-pops, to […]
Many professionals dream of early retirement, hoping to spend more discretionary time doing what they’d like before their 65th birthdays. And while a narrow margin of individuals is able to enjoy early retirement, it can be difficult to achieve. Not only does that leave you with less time to build savings and enable investments to […]
Wanted: Successful professionals interested in launching and sustaining lucrative practices. Does this sound like a want ad you might respond to? If you have ever considered launching your own financial practice, it’s important that you acquire the skills and experience necessary to succeed. While those hard skills are key, it’s also important that you possess […]
Building a Lucrative Business So You Can Quit Your Day Job If you are a tax preparer, this is the most lucrative time of year for you. Within the next few months you’ll probably make more money preparing taxes than you do year-round. Whether you do this on the side or work for yourself full-time […]
Whether you work for yourself or for an employer, there are things you can do to make yourself a more valuable asset. In a recent Forbes.com article, corporate consultant and author Steve Siebold shares “Five Ways to Be Amazing at Work.” He explains that while some climb the corporate ladder by playing politics, “there are […]
Complying with IRS Regulations When you begin the search for employees, you must ensure that you complete all the necessary documentation in order to comply with IRS regulations. The following are three tasks you must complete before adding someone to your payroll: 1. Ensure Eligibility to Work in the US. To verify an employee’s ability […]
Some Straight Talk About Tax FranchisesIs a Tax Franchise Right For Me? Entreprenuer.com lists and rates 12 different Income Tax Franchise opportunities. These opportunities are available just about everywhere in the United States. As tax time approaches people all over the country consider a Tax Franchise a great business opportunity.You have probably heard about franchises […]
Now’s the Perfect Time to Launch Your Startup In a recent USA Today article, author Steve Strauss proclaimed that “…this is, without a doubt, the greatest time ever—and I mean ever in the entire course of human history—to start, own, run and grow a business.” He credits this to five new emergent elements that are […]
If you’re a self-employed tax preparer, you’ll encounter many situations where you must negotiate a favorable outcome for your small business. These may be large or small deals and could occur with clients, colleagues and other businesses. In order to be a successful negotiator you must know how to achieve a win-win situation. Selling yourself […]
Small-business owners must track the daily tasks that eat up their workday, because while there are core-functions to any business, entrepreneurs often become distracted, and sometimes consumed by, necessary tasks that could be done just as easily, and probably more economically, through outsourcing. The question is, how does one determine which functions should remain in-house […]
Stop Delaying Your Dreams:Start Your Own Accounting and Tax Practice Goals are dreams with deadlines. —Diana Scharf Hunt It’s too easy to delay your dreams. The kids need your attention, there’s a stack of bills to pay, and your day job is exhausting. Unfortunately, the only thing you accomplish in procrastinating your dreams is to […]
Determining how much to charge for services can be the most difficult challenge financial professionals face. Most use a “reverse competition” method of pricing which sets an hourly rate based on what competitors charge and where business owners would like to fit into that spectrum. Many financial professionals are drawn to mid-range prices; they don’t […]
