TAX TALES! IF I had $1 for every tax tale, scheme or piece of misinformation encountered, I could retire from this business and enjoy myself. People lie in general and we will never understand or know why, however, when it comes to the lies encountered and spread during, before and after a tax season, they grow exponentially. You cannot use a 1099 or W-2 from a previous year in the next tax year IF a person tells you that…
SMALL BUSINESSES & PAYROLL…..PT 2 Why, NOT paying Yourself, Business Owner is a Problem! Payroll can be a problem. Most payroll companies are equipped to serve larger companies. However, everyone needs payroll. Some small companies opt to pay people without tax deductions; that’s a tricky and could be costly fix for the company as well as the employee; not to mention potential legal issues that this type of practice can cause for the company. Additionally, as the owner of…
Elite Expert Business Solutions offers solutions to the dilemma’s, challenges and business problems. Those services are provided through bookkeeping, payroll services, human resource services and consulting. There have been several potential clients that while they understand bookkeeping, payroll and maybe human resource services, find it difficult to accept or add the consulting to their package. It can be better explained in this manner: “While good business ideas are plentiful, many entrepreneurs struggle to understand payroll taxes, health care and…
So the last time we discussed financial literacy we discussed having a vision. I received a lot of questions concerning that article and I’m glad! #1 it means you’re listening and secondly, it provides opportunity for discussion. Having a vision is the most powerful motivation one can have and believe it or not, everyone doesn’t have one! To simply say, “I want enough money to pay my bills isn’t vision.” That’s a goal and a very simple goal at…
VISION IS CRUCIAL! FINANCIAL LITERACY INCLUDES HAVING VISION! “The only thing worse than being blind is having sight and no vision”. ~Helen Keller This quote is phenomal. I heard it again the other week as my Pastor began his sermon and little did I know I would experience this quote to the fullest. As an entrepreneur, I work primarily with other entrepreneurs. To have the desire to start and operate your own business is not an easy task and…
BETTER BUSINESS BEGINS WITH BETTER BOOKS The hardest thing about what I do as a professional bookkeeper is educating clients on why bookkeeping is so important. One of the things I stress is improving cash flow. The flow of cash in and out of a business is critical to that business remaining IN BUSINESS or being in the black (profitable) and not bleeding out (being in the red or operating bankrupt). You can have a business; it can operate but…
FedEx, Spectrum, CABLE COMPANIES, Uber, Lyft; just to name a few of the companies that use sub-contractors or contract workers. Depending on your field contracting your services out to an employer is the wave of the future! Some people think that it is illegal to do so, but it’s not. Contracting workers is cost-savings for employers or large corporations, especially services that tend to drain their pockets. At the same time, it provides opportunity for the average worker to…
As an entrepreneur every bit of your time is precious and now your time has a dollar figure on it! You cannot afford to do things that you can pay someone else to do nor the things you aren’t equipped to do and do well! Your business is new and so right now you’re the sales team, the receptionist, the closer of the deals, the CEO, the VP and the MVP; you’re everything! It only makes sense that you…
IT’S A BEAUTIFUL PORTRAIT OR IS IT? The first thing I hear, when I tell people that I own a professional bookkeeping service and that I do tax preparation is; “you must really like numbers.” I guess I do, but more importantly I understand them. Financial analyst and business growth involves numbers but those numbers paint a picture of a business, the business owners and the management of that business. In any corporation or large business, you will notice a…
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