In a world where data breaches are increasingly common, many Americans are taking action to protect against credit and identity fraud. Freezing your credit (also called a security freeze) can be an effective way to ward off identity thieves and save yourself a lot of headaches and money down the road. A credit freeze temporarily suspends anyone […]
Finance
IRS Seizures: The Good, The Bad, And The Ugly
What Is An IRS Seizure? Along with tax penalties and tax lien filings, the IRS’s ability to seize a taxpayer’s property is one of its most potent weapons to encourage tax compliance. That is, in part, what makes a recent report from the Treasury Inspector General for Tax Administration (“TIGTA”) on IRS property seizures particularly troubling. Among other things, […]
7 Ways to Get a Bank Interested in Your Startup
Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. A question I get from time to time is “Can I ever expect any backing from my bank for a great opportunity?” The short […]
The CARES Act and Early Retirement Withdrawals
The Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (CARES Act), provides relief to eligible individuals taking withdrawals or loans from qualified employer retirement plans and Individual Retirement Arrangements (IRAs). Coronavirus-related withdrawals and loans Individuals may be eligible for coronavirus-related relief on withdrawals from qualified employer retirement plans or IRAs and on […]
7 Costs To Consider Before Taking Your Startup Public
Despite the fact that the number of IPOs (Initial Public Offerings) for startups have continued to stay low, I still hear it touted often as the preferred exit strategy. I suspect the exuberance for an IPO is still being driven by the highly visible successes of a few companies several years ago, including Facebook, Yelp, […]
Debt Collection Agencies: Watch Out, Small Business Owners!
In the wake of Covid-19, small business owners have faced excruciating circumstances, forcing many to either pivot their business or halt all operations. Undeniably, this trying time has stretched small business owners thin of both financial and physical resources. To make matters worse, it seems like large billion-dollar enterprises will come out of Covid-19 unscathed. […]
Personal Finance: Save Money By Maintaining Your Electric Car
Do you want to reduce your personal finance budget? Well, it is not an impossible endeavor anymore. You can reduce your finances by bringing about small changes in your life. For example, you could explore the concept of eco-friendly transportation. Eco-friendly transportation like electric cars is affordable. However, you need to adopt a smart approach […]
Employers Beware–Payroll Tax Form Has Changed Yet Again
On September 30, 2020, the IRS updated Form 941, Employer’s Quarterly Federal Tax Return, for the second time in as many quarters to accommodate President Trump’s executive order. Recall, employers use Form 941 to report income taxes, Social Security tax, or Medicare tax withheld from employee’s paychecks. Employers should use this version to file their […]
7 Strategies to Bootstrap Your Product Launch
There is a popular belief that to successfully launch a new product or business you require substantial capital. That belief is a myth. While it’s true that a new product or business will require a small investment, more and more businesses are launching with smaller and smaller amounts of startup capital, bootstrapping their way to […]
Beating Payroll Scope Creep To The Gate (Bookkeeper’s Guide)
If you offer payroll services at your accounting or bookkeeping firm, you want to know how to sell it while turning a profit. Likewise, if you provide payroll services to clients, then you are likely aware of how quickly payroll can consume your time. So the big question is: How do you profit from offering payroll […]
