Income Statement (P&L) Debits and Credits Simply Explained.

November 21, 2009

Companion and follow-up article to “Balance Sheet Debits and Credits Simply Explained.” by Bruce Van Cleve.
If a Balance Sheet is like a picture, a snapshot of a point in time, then the Income Statement is like a movie. Think of the statements going in this order: Balance Sheet snapshot, then Income Statement movie, then another [...]

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Risk of IRS Penalty When Doing Payroll In-House.

November 17, 2009

Fact: 25% of you do-it-yourselfers (and you know who you are) will incur an IRS penalty which averages $670.
Source: Wall Street Journal.
If you want to read the article that talks about this fact, email me, if you ask nicely, I’ll send you a reprint I purchased. Copyright law prevents me from just posting it here [...]

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Debits & Credits: Balance Sheet Made Simple.

November 16, 2009

So, what is a Balance Sheet and how do we make sense of these debits and credits? Relax. It is very simple once you learn a few simple rules.
First, what is a Balance Sheet? It is most easily understood if you think of a picture taken with a camera. It is a moment of time [...]

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Employers with Independent Contractors At Risk!

October 30, 2009

I get calls all the time from small business owners who have all their help being paid as Independent Contractors and want to “go lejit” by putting their people on a payroll. They never bothered in the beginning because it was easier to just pay them and it saves on the employers half of the [...]

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Drucker: First, Do No Harm.

September 4, 2009

I recently attended my Keystone Business Forum’s semi-annual Keynote event, which launched the Erie, PA branch of the Drucker Society, a non-profit devoted to education of business ethics as written about by the late, great Peter Drucker. The branch will be run by Kevin Smith, who also manages Vie Associates, a training and education company [...]

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Payroll Fraud Alert!

June 24, 2009

Take a second and check this out. http://tinyurl.com/le3xam
Payroll fraud really ticks me off, I’m getting tired of these stories! These people who perp this crap I hope get lots of bunk time with the other common criminals. In my own hometown, we had a major small, local payroll service provider who pulled the same stunt a [...]

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A Personal Budget? Yeah, right, Uh Huh, OK.

June 20, 2009

Check out this short YouTube on personal budgeting, good, solid advise…
http://tinyurl.com/nd5kch
Please let me know what you think by leaving a comment below.

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Small Business Plan for Cash Flow – Finding the RIGHT Numbers – Part Two

April 8, 2009

The following is an explanation of how to put together a cash flow statement that shows you cash flows on a month by month basis. I’m assuming you have read my other article explaining the rationale for making a profit and cash flow forecast for your small business. I won’t repeat myself here. I promised [...]

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Cash Flow Your Business- How Can I Survive Tough Times?

April 8, 2009

What could possibly be more important to your small business than profits and cash flow, especially in our current economy?  Almost everyone’s sales are off, and so it’s how we manage the money flow through the business (what happens after the sale) that makes the difference between profit and cash crunches. Your company’s survival depends [...]

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This is Pretty Cool Technology! Cell Phone and Bar Code.

October 20, 2008

The latest thing to start catching on here will be cell phones that can read bar codes. Already up and running in Europe and Japan, you will be able to get more information from ads and signs by just pointing to the bar code, and your (smarter) phone will take you to the website for [...]

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