Business Lessons from “The Gambler”

by Kelly Totten on February 20, 2013

Sometimes the best business lessons are really life lessons.  Do you know the song “The Gambler”?  This song hits the nail on the head: “Know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run”.  How can you apply this to various aspects of your business? [click to continue…]

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What gets reported on 2011 1099-MISC

by Kelly Totten on December 29, 2011

For the most part, 1099 rules remain the same this year, but there is one major change.  The IRS is now requiring third party payment processors to report payments made to you through their systems.  You’ll get a 1099-K for each person who paid you with a credit card, debit card, PayPal, etc.  Similarly, people you have paid via these methods will receive a 1099-K from the payment processor.  What does this mean for you?

You need to EXCLUDE from your 1099-MISC calculation any amounts you paid via a payment processor (for most people, debit/credit cards and PayPal).

Intuit is providing solutions to this issue for their QuickBooks products, but you may have to re-code some transactions to get the proper report from your system.  Please follow the appropriate links below to find out how to get the right information out of your accounting system.

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Ready to Get MORE Productive? Zero-cost TeleForum Feb. 17th

February 9, 2011

Have you ever wondered why your day always ends before your to-do list does? Are endless interruptions keeping you from focusing on the creative or business development work you know you need to do? Join Pam Bryan, Certified Productivity Coach, for a zero-cost, fast-paced, 60 minute TeleForum to learn why personal productivity is such a [...]

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How much cargo is on that Crazy Train?

January 28, 2011

Time tracking is an area that most creatives vehemently oppose.  “It’s a creative process, we don’t know how much time it will take.”  or “It depends on the person and the project.  Sometimes it’s quick and sometimes it’s not.”  These are valid arguments.  These arguments can be applied to other service based businesses as well.  [...]

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Cash is SO Old School

January 24, 2011

Most businesses have credit or debit cards to manage their non-check or automatic transactions.  But I still run into some businesses that are relying on old school cash for various transactions.  Don’t get me wrong, there’s nothing wrong with properly documented use of cash, but it’s rarely tracked well. PLEASE, I beg you, do not [...]

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Controlling Your Paper: 3 Paperless Office Solutions

January 21, 2011

Like many others, I am in pursuit of the paperless office. There are many solutions out there, but finding the right solution is difficult. For my purposes, mac compatibility and an online solution were a must. In addition, I needed a solution that would accept emailed receipts, since75% of my receipts are in email format. [...]

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Year End Tax Strategies

December 28, 2010

At this time of year, a lot of my conversations revolve around tax saving strategies. I’ve spoken with several CPAs recently and the advice for cash basis tax payers is consistent. If you are showing a net profit for the year, here are the top 3 strategies for reducing your 2010 tax bill: Defer income [...]

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How To Create A Cash Flow Forecast

November 10, 2010

A relatively simple Microsoft Excel spreadsheet is usually the best tool for predicting cash flow.  This spreadsheet will track when you expect your revenue to hit the bank account and when your bills and payroll will leave the bank account.  The first column (each column represents a time period, usually a week) in your spreadsheet [...]

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