Losing focus
- June 7, 2018
Where’s your focus? Is it in “just get through today?” Or do you have a real strategy you’re working? One year, it took 3 smack-me-in-the-head-with-a-brick experiences to get the lesson of focus, and to apply…
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August 6, 2016
Q.: I have always been advised, by CPAs, that until a small company has a specific NET income of approximately $100,000, incorporating is out of the question. The fees associated with Inc. may not be worth the trouble of incorporating. Wrong? If wrong, why? Thank you. A.: A $100,000 threshold? Hmmm. Plenty of companies are incorporated every day for businesses that are just starting and have no income whatsoever. Depending on your state, incorporation costs only about $300 to $800–and is a one-time expense–so I don’t see why a business earning a net income of, say, $50,000 wouldn’t be able to absorb that. In fact, the owners of small business corporations have been known to put a lot of expenses through the company, precisely so that they don’t show a lot of net income for taxation purposes. The corporation could have a gross income of $250,000, but with salaries, rent, expenses, taxes, etc., it only shows a net income of (for example) $80,000 for income tax purposes. Is that company too small to incorporate? I…
Continue ReadingWhere’s your focus? Is it in “just get through today?” Or do you have a real strategy you’re working? One year, it took 3 smack-me-in-the-head-with-a-brick experiences to get the lesson of focus, and to apply…
Read MoreAdhere to the following 4 ground rules if you want to keep the friendship. Should you . . . or should you not . . . do business with friends? The short and obvious answer…
Read MoreI’ve seen this joke in many guises. There’s the information technology specialist and the businessman; the politician and the scientist. Here’s one for lawyer and client (and, yeah, they were all written as “he”). Enjoy! “Business…
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