This series of one-page articles covers a broad range of business topics. They are designed to answer basic questions in the topic area. For further information, or to find out more about our accounting service, please call our office at 586-775-5222. These articles require Adobe Acrobat Reader (there is a link at the bottom of this page if you need the reader).
Bonuses are a considerable motivation tool, even for the smallest business. On the other hand, they can also be a squander of money. The way in which bonuses are planned and carried out makes the difference. More
A business plan provides the owner with a sense of direction. It defines where a business is now and where its managers expect it to be in the next few years. This plan thus serves as a blueprint to achieve the future. More
Keep the Cash Flowing
Many companies develop financial problems because they don't understand basic cash flow management techniques. To keep your business from becoming a financial casualty, ask yourself these questions More
Cash Flow Projections
The cash flow projection is perhaps the most important financial planning tool available for small and micro business owners. Most business owners know how to put together an Income Statement and Balance Sheet (or have someone who does it for them.) But many do not know about More
Communicating Effectively With Employees
If your company is not achieving the results you want, the source of the problem could be poor internal communication. Many problems in small businesses arise because owners aren't effective communicators. For example, employees who don't More
When Complaints Arise . . .
Some businesses don't really treat customer complaints as opportunities. They adopt, in effect, an attitude of "why bother, they're lost anyway." But this is not true, research has shown that More
The Americans With Disabilities Act
The Americans with Disabilities Act (ADA) makes employment discrimination against a qualified individual with a disability unlawful. This law applies to all businesses that More
The Family and Medical Leave Act
The Family and Medical Leave Act (FMLA) requires covered employers to provide up to 12 weeks of unpaid, job-protected leave to eligible employees for certain family and medical reasons. Employees are eligible if More
Health Insurance: Are You at Risk From Bad Carriers?
Finding affordable health care coverage for your employees can be difficult. This is even more so now, as according to the Secretary of Labor, there appears to be an increase in individuals marketing fraudulent health insurance plans. With the cost of health care rising, More
Independent Contractor or Employee?
One of the hottest tax issues in recent years has been whether certain workers qualify as independent contractors or employees. Because of the abuses by some business owners, the IRS very carefully scrutinizes independent contractor claims. There are three common misconceptions More
Businesses Often Lack Basic Information on Retirement Plans
A growing number of small business are missing out on the tax and business advantages of retirement plans simply because they don't know the basics or what options are available to them. Many small businesses mistakenly think More
Staff leasing is becoming increasingly popular for the small- business owner who wants the advantages of a major corporation's organization without paying the major corporation's cost. However, business owners must be careful More
Limited Liability Companies
One of the most discussed business topics today is the Limited Liability Company (LLC). LLCs offer an unprecedented combination of corporate-like protection and partnership pass-through taxation. There's no magic formula to determining whether or not it's beneficial for a business to operate More
Loans: Corporations and Shareholders
More and more cases are being documented of business loans being made from the corporation to the shareholder or from the shareholder to the corporation. Many of these loans are undocumented, don't call for payments, don't provide for interest and probably won't ever be repaid. If this happens to be the scenario for your company, the IRS More
It's easier to begin planning a marketing strategy when you know some of the basics. Let's take a look at what a strategy is and what items it should consider. By definition, a marketing strategy is defined as More
Networking 101: Basics for Breaking the Ice
Are you at a loss on breaking the ice when you're meeting someone for the first time? If so, you could be jeopardizing some very important chances for networking. Whenever you go More
Overtime Labor Laws
One of the better known, but not completely understood, aspects of labor law is overtime. Some of the Federal overtime requirements employers must comply with include: More
Oxygenating Cash Flow
Why can a business be cash poor even though sales are going through the roof? The answer to this question has to do with the fact that swift growth often causes a cash crunch on your business. A growing business can More
Payroll Is More Than Just Writing Checks
The responsibility of processing payroll doesn't end with signing your employees' checks. Even for a small company with only a few employees, payroll can turn into a nightmare. You as the owner are accountable for More
Protect Your Business Against Payroll Fraud
Small businesses are often the most vulnerable and easiest targets for occupational fraud and abuse and particularly payroll fraud. Many small businesses think they are less likely to experience insider theft, like payroll fraud, simply because they are More
Every business should have a policy manual for employees to help them understand the company's rules, procedures and guidelines. A policy manual accomplishes several objectives. First, More
Ready, Aim, Fire! Hitting Your Acquisition Targets
A question that is asked often by prospective buyers of a business is, "How do I know if this venture is right for me?" Well, if this is something that you have been contemplating, here are a series of steps to help you decide if More
Record Keeping: A Business Necessity
Keeping business records is not only necessary, but, in some cases, mandatory. The question many business owners ask is: "What records do I keep and how long should I keep them?". Most owners don't worry about record keeping because More
Keeping Inventory From Shrinking
Some business owners go crazy trying to discover how "shrink", the unexplained loss of inventory, occurs. There are some sane ways to attack this problem and bring such losses within an acceptable range. More than 90% of shrink can be attributed to More
Small Business Loans
Every year, thousands of small business owners are rejected for loans. This rejection comes from banks, savings and loans, credit unions and loan companies. Because of this, many of these undercapitalized businesses become More
The Tax Advantages of Employing Your Spouse
You may not be thinking of taxes right now, but you should be, especially if your business operates as a sole proprietorship and qualifies for spousal employment. By formally employing your spouse in the business this year, you could reap More
The Tax Audit: Deal With It Successfully!
Suppose today's mail brings you a letter from the IRS advising you that you are being audited. What would you do? A notice to appear before an IRS examiner is not a presumption that the IRS wants to challenge a deduction or deductions that you have taken. It is More
The American Dream
Owning your own business is an American dream, but you'll need to do some planning to turn that dream into reality. Approximately 60% of new businesses fail within the first five years. Why? According to the Small Business Administration, a major cause is More
Where There's A Will, There's A Business!
You review today's agenda: cut health insurance costs for employees, complete the business loan application and improve cash flow, just some of the items in your busy schedule. Have you been so busy that you've overlooked a major business question: Who manages your business if you were to die or become disabled? More
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