Money & Finance

You’ve been diligent about doing the work and now you’re ready to prove to the world that your business is ready to go to the next level. It’s an exciting time in the life of every business owner or entrepreneur – the time when you are ready to take in investors to scale your business. […]

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Post image for Basic Training: B is for Bide Your Time Until You’re Properly Capitalized

It’s only Jan. 2 (there was no WAY I was going to touch the computer yesterday), and already I’ve encountered a prime example of plus ça change, plus c’est la même chose, or, for those of you Yogi Berra fans, it’s déjà vu all over again.In short, same s**t, different year. My New Year’s wish […]

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Post image for The Lowdown on Home Office Deductions

I am not a licensed accountant (nor do I play one on TV), but IRS rules exist in a weird twilight zone between accountancy and law. The Internal Revenue Code is, after all, a law, promulgated by legislators. But most legislators probably don’t have the background or knowledge base to be mucking about in this […]

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Yes, lack of cash flow can kill any business, but it seems to hurt more in business partnerships. First, there’s the denial phase (“sure, we can continue to meet expenses and take our monthly draws”).  Then, there’s the belt-tightening phase (“we’ll hunker down, but this, too, shall pass”).  And then, like a slowly seeping poison, […]

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Post image for Basic Training: C is for Creative Accounting

In these times of dire economic predictions, here’s a bold query from someone with a little too much cash on her hands. [And yes, I skipped “B”] Q.: It seems as though the larger my company gets, the more profit we show and the more money I just hand away to the government. What are […]

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Post image for Basic Training: The ‘T’ Word

Oh . . . it’s not what you think it is. This week’s “T” word is TAX. 🙂 Q.: How do I file a business tax return if I am married? I am starting a consulting business (LLC) with my sister; however, I plan to get married in the near future and I am concerned […]

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Post image for Basic Training: Fun (or Not) with Finances

The year is winding down, and it’s a good time to get a handle on your finances and tax situation. Here are few questions of a financial and tax nature that hearken back to that age-old advice: Get an accountant! Q.: What do I do with credit card finance charges, late fees and over-the-limit fees? […]

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Post image for Getting Paid in a Tough Economy

Cash (flow) is king, especially in a challenging economy. But there are ways you can ensure that you get paid in a timely manner.  Jamie Herzlich’s article in Newsday gives some handy pointers, including: Staying on top of unpaid invoices Developing a system for handling them Putting payment plans in place ASAP (if full payment […]

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Post image for New Legislation to Help Home Office Deductions

Rep. Charles Gonzalez (D-TX) recently introduced the Home Office Tax Deduction Simplification and Improvement Act (H.R. 7074).  According to a press release by the U.S. Small Business Administration’s Department of Advocacy, the goal of the bill is to simplify the home office deduction by introducing a standard deduction for small-business owners.  It is companion legislation […]

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With the post-9/11 demise of some insurance companies and the refusal of others to insure New York businesses, insurance rates are definitely spiraling . . . often out of the control and the reach of the small business pocketbook. This has affected all forms of insurance including medical plans, workers’ compensation, and general liability. With […]

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