Certified Public Accountants Featured In Forbes, Fortune, Money

Forward. Thinking.

Edward F. Thaney,(Left) Managing Partner. Ed’s goal is to be your trusted Advisor. With his CVA and CPA licenses in New York, Florida and Pennsylvania, Ed is able to provide his clients with expertise and well honed business advisory skills. Ed’s client base of corporations, partnerships and individuals gain from his knowledge in financial accounting, tax, financial planning, business development, succession planning, mergers and acquisitions and valuations. Ed helps his clients work more on their business rather than in their business. Ed enjoys golfing and spending time with his wife and two daughters.

Scott T. Gerken, (right) Partner, CPA. Scott specializes in working with individuals and small to medium size businesses. His focus is to enhance his clients profits and net worth through business development and consulting. Scott believes that “what you can measure, you can manage, and what you manage, you can improve.” Scott’s skills in forensics, Quick Books and advisory services makes him a valued member of his client’s team. Scott enjoys golfing and bowling with his wife and three children.

Articles from our Library

Perspectives for Business Success Newsletter

August 2009 Vol. 5 Ed. 8

In This Issue:
Smoke and Mirrors - How to Seem Bigger to Grow a Business
Getting on Top of Business Forecasting
Leveraging Technology to Grow Sales
Profit from a Niche Market
Thaney Expert Corner

We now offer Quickbooks and Peachtree Hosting!

What is Hosting?

Creating Your Business Value Proposition

When your business’ value proposition is strong, you can afford to be more selective in the new customers you take on, and so concentrate your investment on the most profitable and potentially loyal prospects.

Thaney & Associates: A Forward Thinking CPA Firm

In our perpetual pursuit to be on the front line with new innovative applications for our clients, Thaney & Associates, CPAs, P.C. has created another way to communicate with our clients.

Insightful Articles

Rochester Accountant CPA - Ten Ways to Attract Angel Funding A vast majority of young companies neve...

No Better Time for Market Research

The economic downturn is no time to guess what your clients are thinking. Before investing in gut fe...

5 Steps to Turning Around a Business in Crisis

Throughout this article, we will refer to the action taken by Continental Airlines in the incredible...

Employing The Millennial Generation

There’s been quite a bit of talk amongst business managers and owners about the way new employees ...

The silly season is upon us and while recovery from the global financial crisis is, well, not exactly in full swing… we thought it was time to deck the halls and address the vital question of what it takes to start a new business.

Smart Ways To Invest Less For Higher Returns

There have been recent increases in business and consumer confidence in many developed economies and expectations are growing that the worst of the global financial crisis and its associated recessions may be over. However, the optimism is mixed with caution.

Warning Signs Of A Cash Flow Tsunami

Cash flow problems are a common enough experience, but many businesses fail to acknowledge that there is a full blown cash crisis looming on the horizon.

All In Together – Being A Team Player

Poor relationships within the team will always reflect on morale and have been proven to impact on the bottom line. You can make or break a career or a job depending on the way you behave with fellow workers.

Social Media - How To Win Friends And Influence People

Novelty distraction or serious sales driver? The corporations are Tweeting, ‘Facebooking’ and working over the reviews pages. So should bleeping and blogging be part of your strategy to reach tech savvy customers’ pockets?

New 1099 Reporting Rules May Be Repealed

The recent health care reform legislation included a new reporting requirement for businesses. Beginning in 2012, a Form 1099 must be filed with the IRS for payments of $600 or more made to corporations.

Attention Shoppers!

Successful retailing during a downturn means taking stock of your store’s appeal to the senses, providing smarter service and never, ever letting your promotional wheels grind to a halt.

Alternative Finance Products - Can They Help You?

With the amount of available credit shrinking in recent times and financial institutions raising lending standards, more businesses are turning to alternative forms of finance to cover cash flow shortages and grow their businesses.

Underlying Causes of Productivity Problems

Productivity problems often creep into the business over a period of time and often businesses don’t realize just how extensive they have become. Here are six common causes for productivity problems.

3 Little Secrets - The Keys To Low Budget Marketing

Even in a downturn, if you don’t get in front of people and explain your unique value proposition then your chances of selling will be restricted to current customers or accidental passersby. Marketing is what sets you up for selling. However, there are three important things you should appreciate before you start.

Analyzing The Profitability Of Your Products And Services

Knowing the profitability of each individual product/service you provide can help you make decisions to improve your bottom line. You may want to discontinue products and services that aren’t particularly profitable while promoting the ones that improve your overall results.

For The Record - The Importance Of Record Keeping To Your Business

Behind every successful small business story there’s a lot of hard work and, yes, administrative effort. To really make your business prosper, brilliant ideas are only half the answer

Simple Direct Marketing Tips

Direct marketing is very much oriented towards immediate response. Direct marketers can tell you very quickly how successful (or unsuccessful) a promotion is because they have the responses to prove it. So what is the most compelling tool that direct marketers use in order to gain a high response rate?

2010 – New Decade, New Gen, New Trends

Not only will we have a new generation of consumers, future employees and business owners but we can expect other significant changes in the coming decade. Here’s a quick bird’s eye view of some of the coming changes we can expect in the way we run our businesses.

Analyzing Your Company’s Performance Using Financial Ratios

Financial ratios can be helpful tools in understanding a company’s financial health. They are a benchmark by which you can compare your business to industry standards and analyze changes over time. By using financial ratios you can determine just where you stand in relation to liquidity, debt levels and profitability.

Family Business Transition Dilemma – Who Gets The Baton?

Family business transition planning is frequently predicated on the assumption that someday the parents will be passing on the baton to one (or several) of their own children. But that may not be the reality.

Finding The Right New Customers

Nearly every business is dependent on a constant flow of new accounts. It’s easy to ignore this because most businesses earn most of their revenue from old, established customers.

Is an IPO the Way to Go for Small to Medium Enterprises?

Faced with tighter borrowing requirements, more small to medium enterprises are considering all the options. One of these is “going public” with an initial public offering (IPO).

Cyber Security - Protecting Yourself from the Latest Risks

Although rapidly changing information technology delivers countless benefits, it also brings new security risks that can harm businesses that are not prepared. We mostly hear about security breaches and attacks against large corporations and government departments, but small to medium businesses are just as vulnerable and face similar IT security risks.

Get the Best Return on Investment from your Assets

Every business, large or small, has assets that help them perform their work, or deliver the services they provide, to their clients. These physical assets represent a significant monetary investment for even the smaller business. Curbing operating costs and maximizing asset productivity-asset management-is vital to achieve a greater return on your investment in assets.

Key Skills for Entrepreneurs

What is it that makes the successful entrepreneur? What is it that drives sales and builds a business?

Offsetting the Skilled Labor Deficit

More than ever before, manufacturers need a well-trained labor pool from which to draw. But as technology advances and production techniques are enhanced, new gaps are emerging between the level of training within the labor pool and that required by various industries.

Can Twitter Help Your Business - Or Is It A Waste of Time?

Twitter continues to grow at a rapid pace and attracts thousands of new users each day. But you often hear people say that Twitter is a waste of time with no benefit to the small to medium sized business. Others rave about Twitter’s positive impact on their company.

Why More Businesses Are Turning To Online Training

As more people turn to the internet for news, entertainment and social interaction, online training, also known as e-learning, is being chosen by more SMEs (small to medium size enterprises) to deliver the knowledge their employees need to achieve organizational goals. With many benefits to both a business and its employees, it’s easy to understand why e-learning continues to grow in popularity.

Small Business Healthcare Tax Credit

There has been a lot of interest on who qualifies and how much of a credit the Small Business Health Tax Credit will provide. Our own Daniel Nitschke, CPA took the challenge to figure out this elusive credit and how it can be utilized by our clients.

Keep Your Sales Pipeline Flowing

Business owners spend a great deal of time and money marketing to many, in the hope of attracting the few to their business. This process can be likened to a pipeline with a wide mouth narrowing as it goes along.

Being Smart About Loans

Most businesses operate to some extent on borrowed money, but borrowing too much means you’re paying more in interest than you need to. Borrowing too little means you’re under financed and won’t have enough capital to accomplish what you want to do.

Finding Acres of Diamonds by Marketing in Your Own Backyard

“Acres of Diamonds” is an old story of an African farmer who sold his farm and wandered the countryside searching for diamonds. It later turned out that the land that he sold was full of diamonds and eventually became the site of a large mine.

Our Top 10 Cash Flow Tips

1. Know your business’ balance sheet thoroughly. This may sound obvious, but, as your accountant can confirm, many business people don’t know how cash flow works and its significance to keeping their operation afloat.

Two Financing Options for your Business: Equity and Debt

Start-up businesses and long-established firms share common ground in at least one respect: the need for financing. Managers of fledgling companies often debate the best way to obtain funds for buying inventory, heavy equipment, and buildings for making widgets.

Questions to Ask Before Retiring

If you're within a stone's throw of retirement — for most folks, that's somewhere between the ages of 55 and 65 — you've probably spent at least a little time dreaming about life after work. But before you turn off the computer and turn in your retirement paperwork, consider three important questions.

Thin Client Computing - Is It the Right Choice for Your Business?

Thin client computing is one of the options businesses have when upgrading their desktop computers. If you are unfamiliar with the term, thin client computing is where basic computer terminals rely mostly on another computer - a server - to perform their tasks.

Military Tax Breaks are Available

National Military Appreciation Month trivia question: How many military tax benefits can you name?

IRS Releases 2010 Vehicle Depreciation Limits

The IRS has released the annual depreciation limits for business vehicles first placed in service during 2010.

The Next Great Wave of Innovation - Succeeding Through Turmoil

How do you see change - as a threat or an opportunity? Our industries, our society and even our planet are in a state of flux as we struggle to come to terms with turbulent economies, dwindling resources and a changing climate.

Tax Refunds May Be Delayed This Year

Your tax refund may be a little slow in coming this year. Problems relating to the Making Work Pay Credit, Economic Recovery Payments, and the Homebuyer's Credit are creating delays in refunds.

Two Prior IRA Rules Are Still In Effect for 2010

Rule #1. Note that while converting a traditional IRA to a Roth IRA is now open to everyone, regardless of income, contributing to a Roth IRA is still not allowed for higher-income taxpayers.

Should Your Business Operate as an LLC?

You've beaten the odds. Your business has succeeded and your profits are growing. But you struggle with the uncertainty of whether you are operating under the right legal form.

Don't Overlook State Taxes in your Tax Planning

To keep more of what you make, tax planning at both the state and federal level is essential. Even if you live in an income tax-free state, you may not be able to escape state taxes entirely.

The Big 2010 Question: To Roth or Not?

For the first time ever, high-income taxpayers are eligible to convert a traditional IRA to a Roth IRA. Prior to 2010, you could not convert to a Roth in a year in which your modified adjusted gross income exceeded $100,000.

Follow IRA Withdrawal Rules

"You put your money in, and you take your money out." Unfortunately, the rules for taking withdrawals from your IRA are not as simple as those for performing the classic children's dance.

Con Artists Target the Unemployed

Federal officials have recently warned that employment-related scams are soaring. As the economy struggles and unemployment grows, ads for bogus jobs are on the rise.

New W-2 Rule Causes Confusion

Starting with W-2s issued for the year 2011, employers will be required to report the value of health insurance premiums provided for each employee.

One-Third of Those Eligible Used COBRA Subsidy

According to a study by the Treasury's Office of Economic Policy, about a third of unemployed workers who were eligible took advantage of the COBRA subsidy to help pay for their health insurance.

Building A Winning Team webinar

What business owner hasn't wished to stop constantly having to think for their employees? Who hasn't wished they had people who could work more cooperatively to sort out things for themselves and come up with effective solutions?

The 4 Ways To Grow Your Business webinar

It may sound a little simplistic, but there are really only 4 fundamental ways to successfully grow your business-in other words, make it more valuable:

Catch The Video Marketing Wave To Success

In the not too distant past, producing and distributing videos to promote your business was costly and time consuming. However, the exponential growth of video sharing sites on the internet, such as YouTube, has now turned video into a very cost-effective marketing method.

Protecting Your Business With Credit Policies And Procedures

If you were in the money lending business would you hand over money to people without arranging a repayment contract with them? It doesn’t sound too smart, but most businesses are in the money lending business in just this way. In effect, by offering credit to your customers, you are providing them with a loan.

Putting Together A Pricing Strategy

For many small businesses pricing products and services is more a matter of guesswork than logic. Mindful of competitor pricing, they make the mistake of simply undercutting to win business rather than carefully working out the price they need to charge.

Finding Business Opportunities In Trends

Ultimately, analyzing trends is a vital part of the sustainability of your business. What trends are impacting your business today?

Starting A Business? Avoid These Hiring Mistakes

Challenges that merely annoy an established firm often capsize a start-up company. This is especially true in the area of staffing.

When You Buy A House, Check The Paperwork For Tax Benefits

If you buy a house this year, you'll close the deal by signing a mind-numbing stack of papers. When that's finished, don't just file the documents away in a drawer. Hidden in there are some deductions you might be able to take this year, and others that could increase your profit when you sell.

Protecting Your Most Important Assets - Intellectual Property Rights

When you think about protecting company assets, several things probably come straight to mind, such as land, buildings, machinery, inventory and vehicles. In many instances companies overlook their intellectual property, which can be one of their most valuable assets.

How To Work With Vendors When Cash Is Tight

For many small businesses, maintaining adequate cash flow can seem almost impossible. Customers are tightening their belts, lending institutions are rethinking their credit terms, and suppliers are struggling to maintain their own vendor relationships.

Starting A Business In A Down Economy

High unemployment, beleaguered stock values, corporate and personal bankruptcy — these headlines have become all too familiar. But the same factors that signal a recession can actually highlight a great opportunity for folks hoping to start small businesses.

Is It Smart To Use Retirement Savings To Pay Off A Mortgage?

In these days of high unemployment and declining home values, people are searching for ways to regain control over their financial lives. For many, that includes paying off debts as quickly as possible.

Financial Ratio Analysis - Going Beyond the Financial Statements

According to SCORE, 82% of businesses that fail do so because managers have a poor understanding of cash flow. Find out more about our newest way to help our clients succeed, Financial Ratio Analysis.

Choosing The Right Smartphone For Your Needs

The rapid pace of technological change can make it difficult to keep up with mobile telecommunications. With so many smartphone choices available, there are many factors to consider when choosing the right one for your personal requirements.

Pay Yourself Reasonable Wages

As the owner of an S corporation trying to determine a reasonable salary to pay yourself, the question is important — and difficult to answer. The reason: At present, there are no specific regulations, safe-harbor provisions, or minimum wage requirements.

Some College Financing Statistics

According to 2009 data, the average cost of a public college education is $6,585 a year, up 6.4% from the previous year.

Good Personnel Management Means Better Profits

Most small businesses operate a tight ship. They manage overhead expenses and watch cost of sales to stay on the credit side of the ledger. But when you’ve reached a point where you cannot see any further ways to reduce costs, there could still be an opportunity to increase your profits through increasing productivity.

Homebuyer Tax Credit Is Extended

If you signed a contract before May 1 to buy a home, but have been unable to close the deal, you still have time to apply for the homebuyer tax credit.

Perform A Midyear Tax Plan

It's time to do a midyear review of your business tax planning. Here are five ideas to consider.

Are You On Top Of Your Competitors?

Here’s a list of questions that every business manager should be able to answer with an unqualified ‘yes’. They relate largely to the fundamental need of identifying and understanding your competition.

Safeguard Your Financial Records

Every year there are natural disasters that remind us how easily we can lose essential tax and financial records. After a disaster, you're more likely than ever to need certain records to file insurance claims or apply for loans.

Check Out Disability-Related Tax Breaks

A variety of tax breaks are available to help disabled taxpayers cope with the financial burdens of disability. Tax relief falls into three categories.

Good Financial Planning Means Never Having to Say Sorry

Even talented and successful entrepreneurs may concentrate so intensely on their business that they neglect their personal financial planning. They save little money outside their business, have only a modest retirement benefits package plan and carry insufficient insurance to cover any hiatus in the businesses’ income generation activity.

Are All Your Business Eggs In One Basket?

Many small business owners share one problem, especially in their early days. It's being over-reliant on a single customer or supplier for much of their business.

Unclaimed Property Can Be A Business Issue

Turning over abandoned property, such as unclaimed security deposits and outstanding accounts receivable credits, to state officials. Your business may be both a holder of unclaimed property and a claimant.

How To Improve Your Credit Score

The days of easy credit, offered to anyone who can breathe, are history. In this sluggish economy, lenders want to know whether borrowers are likely to stay current on their loans, mortgages, and credit card accounts.

How To Conduct Fair And Effective Employee Appraisals

Most organizations review the performance of their employees on a regular basis (usually annually), for the purposes of determining pay adjustments, promotions, terminations and training requirements. Unfortunately, the very idea of being “appraised”, of having some superior pass judgment on them, is resented by many employees.

More Money Saving Tips For Small Business

If you're the owner or manager of a small business, you've undoubtedly felt the pain of this economy's ever-so-slow recovery. Demand for your products or services may have dwindled and when revenues are down, businesses need to adjust by tightening their belts.

Important Deadline Extended For Small Charities

All nonprofit organizations (except for churches and church-related groups) must file an annual return with the IRS. Failure to do so for three consecutive years results in the loss of the organization's tax-exempt status.

Selecting The Right Web Solution

The online market these days is as valuable and important as the physical marketplace you do business in so when it comes to creating a website it’s worth investing the same commitment of time, money and resources that you put into the physical set up of your premises, or selecting essential tools and equipment for the business.

Get Going with QuickBooks 2010 Beginner Course

Brockport, NY | Time: 10AM-3PM | Price: $127, includes lunch and training manual and files. Taught by a QuickBooks ProAdvisor Computer lab setting, training manual with practice files and post-class business diagnostic

Health Care Law Brings Out Scam Artists

The new health care law is confusing to many, and the con artists are wasting no time in taking advantage of people's uncertainty about the new rules.

Get Ready For The New

Beginning next year, new reporting rules could make it easier for investors to report the tax consequences of securities sales. Responsibility for establishing your "basis" is being shifted to brokers and other financial institutions.


Personal branding, self-branding, self-positioning, whatever you choose to call it, it’s really about personal marketing. Why would you want to do that? It’s a great way to market your business in a way that can cost you nothing.

Disaster Planning and Business Recovery

Webinar | Time: 3PM-4PM | Price: Complimentary Your business represents a substantial investment of your time and resources. This BGR is about ways to protect that investment and how to minimize losses in case of disaster.

President Signs Education Jobs And Medicaid Assistance Act of 2010

On August 10, President Obama signed into law the Education Jobs and Medicaid Assistance Act of 2010. The law will fund the jobs of an estimated 140,000 teachers who would otherwise have lost their jobs, and it will help states with Medicaid costs.

Seven Ways To Cut Your 2010 Taxes

1. Tax rates are likely to go higher in 2011, so you might benefit from shifting income into 2010 and delaying deductions until 2011.

2010 Tax Credit For Your Small Business

When small business owners think about the recent health care reform, they may be thinking only of its long-term implications. But the legislation actually provides an immediate tax break for qualified small businesses and nonprofit organizations.

Emerging Trends for SMEs

The great news for business is that emerging technologies are making possible a return to earlier times when business owners and their customers knew each other and had personal relationships that extended beyond the tight boundaries of buying and selling goods and services.

New Business Law Includes Major Tax Breaks

It's just in time for year-end tax planning: the Small Business Jobs Act, a new law that extends some federal tax breaks and enhances others.

How To Build Business Credit

Unfortunately, today's economic climate has made many financial institutions wary about extending credit to small companies. And with business revenues faltering because of declining demand, even well-established companies have found it difficult to obtain loans.

In the news: Business Plan Is a Vital Element To Success

Read the most recent Democrat and Chronicle article by our Marketing Manager, Vicki M James.

Tax Tips: Avoid These Penalties

Tick-tock. Time is almost up on that six-month extension you filed back in April to give yourself more time to complete your 2009 individual income tax return.

Learn To Cope With Financial Stress

These are stressful times. Economic uncertainty has touched everything from corporate earnings to pension plans to the livelihoods of American workers. People are worried about the stability of their retirement plans, company layoffs, and dwindling home values.

Co-Owned Businesses - Giving Employees A Stake In The Company

The connection between productivity and morale is a demonstrated fact in the business world. Lack of commitment directly impacts a whole raft of productivity inputs such as number of work hours lost, workshop safety and wastage rates.

New Law Raises Insurance Coverage On Bank Accountants

For years, bank accounts were FDIC-insured up to $100,000. Then during the recent financial crisis, the insurance limit was increased to $250,000. But this increase was only temporary; it was scheduled to drop back to $100,000 in 2014.

Keep Going with QuickBooks 2010 Intermediate Course

Brockport, NY | Time: 10AM-3PM | Price: $127, includes lunch and training manual and files. Taught by a QuickBooks ProAdvisor. Computer lab setting & training manual with practice files.

Congress Passes Small Business Act

Small businesses get some tax breaks in a new law just passed by Congress. The Small Business Jobs Act of 2010 extends 50% bonus depreciation for new equipment purchased during 2010. It increases for 2010 and 2011 the first-year expensing limit for new and used business equipment purchases to $500,000, and raises the phase-out limit on expensing to $2 million.

Using Customer Surveys To Generate Leads

Customer surveys can be an extremely valuable way of collecting all kinds of useful data. What businesses often don’t consider is that customer surveys can also serve other objectives, such as to inform customers, to advertise a new product, or for lead generation.

IRS Increases Correspondence Audits

As part of its plans to increase audit coverage, the IRS will be doing more correspondence audits - notices mailed to taxpayers that typically focus on a single item on the tax return.

Perceived Indifference Disease - Are You Suffering From It? Webinar

Most business owners will say that their customers' key concern is price and actually inquire about price first before anything else.

Unique Core Differentiators Webinar

Perception is the reality-people buy based on differences They Perceive. It's the differences that potential customers perceive that make them choose one business over another.

Keep Score Of Your Finances With A Personal Balance Sheet

The recent economic downturn hit Americans' net worth hard. "Net worth" is the value of assets (such as homes, bank accounts, and investments) minus debts (such as mortgages, loans, and credit cards). According to the Federal Reserve, Americans' net worth hit a low of $48.3 trillion during the recent recession, but has since risen 13% to about $55 trillion.

The Extra Edge On SEO For The Small Business Website

How is your small business site or product going to be found when the indexed web contains almost 15 billion pages, according to www.worldwidewebsize.com? Here are a few insider tidbits on SEO (search engine optimization) for your small business website.

Business Driving; Choose Your Deduction Method Wisely

You're entitled to deduct your automobile expenses attributable to business driving. However, the tax law has several twists and turns that affect what you can deduct.

Gambling Winnings & Losses Can Affect Your Tax Bill

From time to time, some of you are lucky enough to win a shilling or two at your local casino, the track, or the state lottery. How will that gambling income impact your taxes?

Tax Strategies Investors Should Consider At Year-End

As year-end approaches, take a closer look at your investment portfolio. There may be some tax-saving strategies worth considering.

Consider Using Social Media To Market Your Business

Social media users represent a huge base of potential customers for businesses willing to learn the ins and outs of social media venues.

What You Should Know About Debt Collectors

With the economy still climbing out of recession and unemployment hovering near 9%, a lot of folks are behind on their payments. They owe money to banks for auto loans, hospitals for medical bills, and credit card issuers for everything from electronics to clothing to home appliances.

If At First Your (Business) Idea Fails - Try, Try Again

The turning point for your idea is moving from what you think is a great concept, to one that your customers are willing to pay you for - your great idea must solve their pain point.

Recession Changed The Way We Live

According to 2009 census statistics, the recession that began in late 2007 has had a major impact on the way we live and the choices we make. What the data shows...

Tuesday Tax Tip: Information Reporting Rules Don't Change for 2010

You've probably been hearing about changes to Forms 1099 for purchases of goods, payments to corporations, real estate rentals, and credit card transactions.

D&C article - Financial Statements Send Signals

When it comes to financial information, many small businesses keep to the basic quarterly or annual statements from their accountants. To truly understand the current state of your business and plan for the future, you need to understand your financial statements and how they assist you.

W-2 Reporting Of Health Costs Optional For 2011

The IRS and the Treasury are giving employers additional time to adjust payroll systems and procedures to meet the requirement to include the cost of employer-sponsored health coverage on employees' W-2 forms.

Overcome Online Buying Anxiety With Compelling Product Information

With an increasing percentage of pre-purchase product research being done on websites, providing site visitors with product information of the quality and relevance they need to make a buying decision becomes a significant factor in removing “online buying anxiety”.

New Restrictions On Health Accounts

This year a tax advantaged health account (such as a flexible spending account, health reimbursement account, health savings account, or medical savings account) can be used to purchase aspirin, flu medications, allergy pills, cold medicines, and other over-the-counter medications.

Education Tax Benefits

Are you or a family member paying education expenses this year? If so, you may be eligible for a variety of tax benefits. Here's a review.

What The Financial Overhaul Law Means For You

So what's all the fuss over the new Wall Street Reform Act? The headline-grabbing law raised quite a furor on Wall Street, but what does it mean for you and me? Here is how the law will affect ordinary folk.

Making Business Cards Work For Your Business

Business cards are an important element of your visual identity but they can be an important part of your wider business strategy as well.

Tuesday Tax Tip: Gaining An Understanding of Capital Gains

Are your investments gaining in value? Then you'll want to understand how the capital gain tax works. Here's a refresher.

Adopting A Child Provides Tax Benefits

Are you giving some thought to adopting a child? Since the adoption process can be a costly one, the federal government provides some significant financial assistance with the adoption tax credit.

4 Steps To Overcome Your Prospect's Marketing Resistance

Every single day you, and most other people, are being bombarded with more than 3,000 marketing messages. Your customers and prospects have trained themselves to ignore those messages.

It's Time For Year-End Business Tax Planning

You've guided your business through a tough economic climate and kept it profitable. Now it's time to turn your attention to tax planning so you can keep those profits in your pocket.

Tax Tip Tuesday! Remember Your RMD

RMDs are mandatory withdrawals from certain retirement accounts, generally after you reach age 70½. Thanks to a one-time exception, you could choose to skip your RMD in 2009.

Are TIPS right for your portfolio?

With interest rates at historic lows and some financial prognosticators expecting a robust recovery in the years ahead, Treasury inflation-protected securities or TIPS are again in the spotlight.

Get Rid Of Your Email Blues

Managing email has become a nightmare for many firms. Bloated inboxes, never-ending backups and unfindable emails waste team members' time and patience.

Be Vigilant In Controlling Business Costs

To maintain a successful business, the practice of reviewing ongoing costs must be hardened into habit.

Tax Tip Tuesday! Year-end Tax Housekeeping

This year will soon end... but you have a few more days to complete tax tasks before the calendar rolls into 2011.

Small Business Jobs Act of 2010 Includes Several Familiar Tax Breaks

If you are a small business owner who thought all the best tax breaks were behind you, think again. The recently passed Small Business Jobs Act of 2010 restores some familiar tax perks and adds a few new ones.

Purchase Order Financing

One of the ironies in business is that if you want to increase revenue, sometimes you need to borrow money. The reason is simple: growth is expensive.

Check Gift Cards Carefully Before You Give

For years, gift cards have been a popular way to solve the problem of what to give at holiday time. But too often the cards had expiration dates, inactivity fees, and other restrictions that cut into the joy of giving.

Tax Tip Tuesday! Charitable Contribution Reminders

Are thoughts of charitable contributions dancing in your head this holiday season?

D&C article - Be a Visionary Boss

The following article appeared in the December 21, 2010 edition of the Rochester Democrat and Chronicle newspaper. Written by Thaney & Associates CPAs' Marketing Manager, Vicki M James.

Is It Time To Refinance Your Home Mortgage?

Mortgage interest rates are at historic lows. According to the Mortgage Bankers Association, the average interest rate for 30-year, fixed-rate mortgages dropped to 4.25% in September, 2010.

Should You Ban Facebook?

Facebook has become the most popular online destination in the world - more people read updates on Facebook every day than search on Google. Naturally, team members accessing Facebook during work time is an issue for most firms.

Save Energy And Taxes: An IRS Reminder

The IRS recently issued a bulletin reminding taxpayers that making energy-saving improvements to their homes before the end of the year can lower their taxes for 2010.

Tax Tip Tuesday! Cancelled Debt Can Result In Taxable Income

Are you talking to your lender about restructuring or forgiving all or part of your business debt? You may be surprised to learn the outcome of your negotiations could lead to taxable income.

How To Deal With An Audit Notice

The number of IRS audits has doubled over the past ten years. Coupled with the new informational filing requirements for businesses, your chances of an IRS audit notification are not insignificant.

A Better Way To Conduct Market Research

The term ‘market research’ often invokes images of telemarketers and focus groups - mass media methods that cost a lot of time and money and are out of reach of the average small firm.

Tax Tip Tuesday: 2010 Tax Relief Act Extends Tax Breaks

So what's in the tax law enacted in late December? In general, the new legislation means many of the breaks you're already familiar with will apply to your 2010, 2011, and 2012 returns.

Better IT Security - For Less

The dangers of the internet are real and multiply every year. It is estimated that by 2009 the profits from computer crime, reached $1 trillion which surpassed those of the illegal drug trade.

Do You Owe The

You might owe the "nanny tax," and if you overlook it, you could be hit with additional interest and penalties.

Tips For Thriving In A Recession

In a struggling economy, businesses suffer. Whether the company is a local store selling knick-knacks or a multinational corporation producing auto parts, many managers and owners have learned of late that credit is tight and customers are wary.

Tax Tip Tuesday! There's Still Time To Make Charitable Donations To Your IRA

Even though 2010 is officially over, you can take advantage of a special rule that treats a distribution taken in January 2011 as if you made it in 2010.

Prepare A Home Inventory

Preparing an inventory of your personal possessions can seem daunting. Without evidence, insurance companies may not be willing to reimburse your losses from fire, theft, or natural disasters.

The iPad As A Selling Tool

Tablet computers like the iPad can change the dynamic of a sales conversation.

New Law Sets Estate Tax Rates and Exemptions

The estate tax is retroactively reinstated for 2010 with a maximum estate tax rate of 35% and an exclusion amount of $5 million ($10 million for married couples).

New Law Includes Business Provisions

The 2010 Tax Relief Act includes several provisions that will affect businesses. Here are the highlights.

Tax Tip Tuesday! New Law Includes A Payroll Tax Cut

There's a new tax break this year, and you'll want to update your budget to accommodate it. The compromise tax legislation passed in December included a payroll tax cut for 2011.

Time To Let Others Know How Good You Are

Advertising to your target market the products or services you sell is a great way to inform potential customers of what you have to offer. But every claim made in your advertisement is colored by the knowledge that you are promoting products for financial gain.

Congress Extends Bush-era Tax Cuts For Two Years

After weeks of wrangling over the details, both the Senate and the House passed a bill that will extend the tax rates in effect in 2010 for another two years.

Tax Tip Tuesday! 2011 Tax Numbers Are Adjusted For Inflation

Adjusting numbers in the federal income tax code to account for inflation, known as indexing, is an annual event. Indexing affects deductions, exemptions, exclusions, tax brackets — and your tax planning.

Where You Hold An Investment Matters

You'll probably be doing a 2011 review of your investment portfolio for tax and rebalancing purposes. As part of your review, check to be certain you are holding your specific investments in the right type of account.

The Solution To Healthier Sales

Good times always feel like they will last forever. However, there will come a time when customers are harder to find.

Reducing Business Overhead: How To Fight The Battle Of The Bulge

You may not realize this, but one of the best opportunities to increase your business's bottom line can be found by reviewing its overhead.

Tax Tip Tuesday! Look Into Business Energy Incentives

How many tax incentives can you use to change a lighting system?

Measuring Client Satisfaction

Every disappointed client will share their experience with 10 others.

2011 Brings The New Old Energy Credit

For your 2011 return, the maximum credit you can claim for installing energy-saving windows, doors, roofs, or other eligible improvements or property is $500.

Tips On How To Save At The Grocery Store

If you're serious about slashing household expenses, it's important to focus on costs you can control. Some items — such as mortgage and utility payments — may claim a large slice of the budget pie, but they're either fixed or relatively inflexible.

Learning To Share At Work

The ease of sharing documents over email was a major advance over sending faxes or posting letters, but that convenience gave rise to other issues.

Every Small Business Should Establish Controls

Every week reporters publish stories about companies that have lost thousands, even millions of dollars because of fraud.

Tax Tip Tuesday! First-time Homebuyer Credit Payback Begins

Did you buy your current home between April and December of 2008 and claim the then-new federal tax credit for first-time homebuyers? If so, repayment of the credit begins this year, and the first installment is due with your 2010 tax return.

IRS Announces Two Changes To Tax Requirements

The IRS has announced changes to federal tax deposit rules and nonprofit filing requirements.

The Power Of Video Marketing

The internet has made it possible for firms to avoid the hassle and expense of television networks by screening video commercials themselves.

Transworld Business Advisors Launches New Location in Rochester

Transworld Business Advisors, a unique business concept that provides services for business brokerage, franchise consultant, and franchise development, announces a new location in Rochester, New York under the ownership of local residents Edward Thaney.

Time Your IRA Contributions For Maximum Growth

The tax rules give you a period of 15½ months to make contributions to an IRA for any given year. For example, you could contribute to a 2010 IRA as early as January 1, 2010, and as late as April 18, 2011.

Tax Tip Tuesday! Child-related Credits Can Cut Your Taxes

Are you a parent? Give yourself some credit — a child-related tax credit, that is. Here are two that can reduce your 2010 federal income tax liability.

Talk Finances With Your Elderly Parents

One day you may find yourself taking care of an elderly parent who is in declining physical or mental health. This can be stressful, both emotionally and financially.

The Best Way To Hire

When screening prospective team members, make sure you spend time explaining why you are in business.

More Savings Bond Options For Your Tax Refund

Last year, you could use your tax refund to purchase U.S. Series I Savings Bonds in your name. This year, there are some new options for purchasing savings bonds with your income tax refund.

Tax Tip Tuesday! Stock Basis Reporting Begins This Year

Beginning this year, your broker will track the basis in stocks you purchase. When you sell your shares, the basis will be reported to you — and the IRS — on the stock-sale statement you receive at the end of 2011.

What's Your Status?

While gathering information to complete your income tax return, you may give little thought to your filing status. But there's a reason "filing status" choices appear at the beginning of tax forms: They're important.

How To Find Cheap Credit

Many businesses are treading water right now in the hope that they can out-wait the struggling economy until better times. Cash flow is critical and if several troubled customers are late in paying it can tip a business over the edge into administration.

Give Your Business A Competitive Edge

It's a fact. When competition is based on price alone, smaller companies often find themselves squeezed by high-volume, low-priced competitors. How do you, as a small or mid-size business owner, survive in such an environment?

Tax Tip Tuesday! Will The Alternative Minimum Tax Apply To You?

Though you might prefer to not think about the AMT, certain income and deductions, known as preference items, affect the way the tax will apply to you. Those amounts, along with others called "adjustments," are added to or subtracted from the income shown on your tax return to arrive at your AMT taxable income.

New Business: Make Your S Corporation Election By March 15

If you own a small business corporation that operates on the calendar-year, you have until March 15, 2011, to choose S corporation status for this year. In order to become an S corporation, you'll need the unanimous approval of all shareholders.

Don't Buy Your Printer

Despite surrounding themselves with computers and gadgets, businesses still can't break their love affair with an ancient technology - paper.

Is Your Business Getting Paid On Time?

Small businesses regularly fail. In fact, fewer than 50% are still operating within five years of opening their doors. Why is the failure rate so high?

Tax Tip Tuesday! Recoveries aren't taxable if there was no tax benefit

When you think of the three "R's," refunds, rebates and reimbursements may not be the first words that come to mind. However, they do go together in tax law. All three are common forms of recoveries, a tax term describing a type of miscellaneous income.

Should You Take Out A 15- Or A 30-Year Mortgage?

Because interest rates have declined in recent years, many homeowners have refinanced their 30-year mortgages to mortgages with 15-year terms.

Time To Clock On

The question a business should ask itself is not always "how many hours can I squeeze from my employees?", but "how productive and enthusiastic can I make them about their work?"

Webinar: Understanding Your Personal Goals and How They Relate to Your Business

Date: 2011-04-20 Time: 01:00PM - 02:00PM Location: Your office An essential first step to establis...

What's New: Early Investment Planning Can Save Taxes

Capital gain rates will remain at a maximum of 15% (and a minimum of 0%) through December 31, 2012. The rates apply to qualified dividends and long-term gains from investments you sell. That makes 2011 a good time to implement strategies for potential tax savings.

Tax Tip Tuesday! Estimated Tax Is Due Quarterly

The first quarterly estimated tax payment for 2011 is due April 18, the same day as your 2010 federal income tax return.

How To Retain Good Customers

When times get tough, the cost of sales goes up. Potential customers are less likely to want to talk to a salesperson because they are in a fiscally conservative mindset. In recent months you may have heard the phrase "retention is the new acquisition".

April 15 Tax Day extended

Date: 2011-04-18 This year the deadline for filing various tax returns normally due on April 15 is...

IRS Changes Filing Deadline

This year the deadline for filing various tax returns normally due on April 15 is being changed to April 18, 2011.

Tax Tip Tuesday! The Mortgage Interest Deduction Has Limits

As a homeowner, you know about ceilings. You're probably also familiar with the itemized deduction for mortgage interest. But you may not be aware the mortgage interest deduction also has a ceiling — two of them, in fact.

Are You Saving Enough? Here's How To Get Your Savings Program On Track

With the economic downturn still fresh in the minds of most Americans, you'd think rates of saving would be climbing through the roof. Surely people recognize — at long last — the need to sock away more money.

Cash In On The New Business Rules

Workers can be reimbursed up to $230 per month for qualified highway vehicle transportation and transit pass expenses, and up to $20 per month for bicycle commuting costs.

Tax Tip Tueday! Don't Forget The Adoption Credit

In the avalanche of information about the tax laws that were extended last December, you may have forgotten a benefit amended earlier in the year.

A New Baby Can Bring A Lower Tax Bill

If you had a baby in 2010, or you're planning on having one in 2011, you are not only getting a little bundle of joy, but you're also getting a significant tax deduction. The amount of the deductions and credits certainly won't cover the cost of raising your child, but every little bit of tax savings helps. A few of the tax issues that you should be aware of include the following items.

How To Buy A Business

Buying a business is easier than building one yourself but it has its own challenges. Despite the fact that buying is a more expensive proposition than building, banks will see it as a safer option because they can look at the business's track record as a guarantee for future earnings to pay them back their interest and capital.

Get An Extension If You Can't File On Time

April 18 is the due date for filing your 2010 tax return. If you won't have all your tax information assembled in time to meet the filing deadline, getting an extension will give you an extra six months — or until October 17, 2011 — to file your return.

Tax Tip Tuesday! Gift Tax Returns Are Due April 18

As you finalize your 2010 return, here's one more thing to remember: Unlike the estate tax, the gift tax never went away.

Know The Pitfalls Of Reward Cards

Marketing venues are replete with ads touting the benefits of credit card reward programs. Smiling, beautiful people encourage you to sign up today and use reward points to visit distant lands, relax at ritzy hotels, or replenish your bank account. You can use reward points to purchase luxury items at a discount, buy cheaper gas, even enjoy exclusive privileges at fancy airport lounges.

New Storefront Is Search

One of the first things a retail firm considers is its front window display. It is the visual hook that will entice potential clients to walk into the shop, browse through stock on the shelves and make a purchase.

Get Going with QuickBooks 2011 Beginning seminar

Date: 2011-05-19 Time: 08:30AM - 01:00PM Location: Thaney & Associates CPAs office Computer la...

Keep Going with QuickBooks 2011 Intermediate seminar

Date: 2011-05-26 Time: 08:30AM - 01:00PM Location: Thaney & Associates CPAs office Computer la...

Survey Paints Gloomy Retirement Picture

Workers today express less optimism about their retirement prospects than they have in past decades. According to the Employee Benefit Research Institute's 2011 Retirement Confidence Survey, 27% of respondents were "not at all confident" about saving enough for retirement.

Webinar: Working ON Not IN Your Business

Date: 2011-05-18 Time: 01:00PM ET - 02:00PM ET Location: Webinar - Your Office Most businesses fai...

Tax Tip Tuesday! Consider Taxes In Your Investment Strategy

So you've filed your income tax return or your extension. Either way, you went through your taxable transactions for the year and they're fresh on your mind — meaning now is the ideal time to review your investing decisions.

Business Report Increased Productivity

Forced to become leaner during the latest recession, American businesses are apparently doing more with fewer workers. As the economy improves, productivity (economic output per labor hour) continues to rise; it increased 3.5% in 2009 and 3.6% in 2010.

Key Skills For Entrepreneurs

The desire to start your own company can have several motivations. A desire to make money or to change the world, the urge to be in control of your employment, or the ambition to test out a great idea.

Hiring Temporary Staff Can Be A Smart Business Move

With uncertainty still a major business concern, many companies are tiptoeing back into the employment market by hiring temporary workers. According to the Bureau of Labor Statistics, the number of temporary employees — including independent contractors, on-call candidates, freelancers, and other temporary or part-time workers — exceeds two million people in the United States.

Tax Tip Tuesday! Accountable Plans Make Business Sense

An accountable plan is an arrangement that lets you reimburse your employees for expenses incurred on behalf of your company, such as driving to the post office or supply store. With a properly administered plan, you can deduct the reimbursements on your business tax return, yet the payments are not considered income to your employees.

Seminar: Your Business Is An Investment

Date: 2011-05-18 Time: 8:00AM - 9AM OR 12:00PM - 1:00PM Location: Thaney & Associates offices, 2...

Do A Reality Check Before Retiring

If you are approaching retirement, it's a good idea to review your finances and develop a strategy for your final working years. Take the time now to perform a reality check on your retirement resources and expectations.

Identity Theft And You

Of all the things one can lose, your identity doesn't sound as traumatic as being mugged for your wallet. The truth is that identity theft can be extremely expensive and inconvenient, and could impact not just yourself but your family and your firm.

Make Your Business Plan Realistic and Useful

Many prospective entrepreneurs regard business plans as annoying academic exercises, useful only to provide file stuffing for potential lenders or investors. Ironically, lenders and investors who receive such plans are apt to view them the same way and move on to the next applicant.

Tax Tip Tuesday! Sales Tax: Another Business Obligation

Whatever the outcome of the continuing debate over sales and use tax law, three responsibilities are unlikely to change much for business owners who do business in those states that have a sales tax — registration, collection, and payment.

Check Your Withholding and Estimated Tax Payments For 2011

If you expect a large tax refund this year, or if you've already received one, chances are you're happy. But why give the government an interest-free loan?

How To Keep The Cash Rolling In

Cash flow, as they say, is the lifeblood of any firm. It does not matter whether you are making thousands of cars a year or selling lemonade to neighbors, if you are stuck waiting for payment from clients then you cannot pay your suppliers for the next batch of products to sell.

Do Disaster Recovery Planning For Your Business

Businesses throughout the world — some, perhaps, in your town — are even now struggling to recover from natural and man-made disasters. Some will pull through and thrive; others will close their doors forever.

Tax Tip Tuesday! Expanded 1099 Reporting Is Repealed

Forget some of those newfangled 1099 rules that were supposed to take effect starting this year. For certain business and rental expenses, old school is back.

Index funds Are A Popular Investment Choice

Like the weather, the stock market is always changing and hard to predict. Nobody gets it right all the time.

Get Your Staff Out Of The Office

Your bookkeeper calls in one morning to say her son is sick and cannot go to school. She will have to stay home and look after him.

Lollypop Farm To Receive Donation From Thaney & Associates CPAs’ Employees

Marketing Manager, Vicki M James, for Thaney & Associates CPAs, P.C. announced today that the employee contribution of $336 collected through the weekly Fundraising Jeans Friday program will benefit Lollypop Farm in Fairport, NY.

It's Not Too Late To Convert To A Roth IRA

If you procrastinated on converting your regular IRA to a Roth last year, you can still do so in 2011. Although converting your IRA generates taxable income in the year of the transfer, later withdrawals of contributions and income from the Roth are tax-free.

Tax Tip Tuesday! ROBS plans: Are They Too Good To Be True?

Acronyms are popular in tax lingo, and some are more accurate than others. The IRS thinks ROBS, a relatively recent short-hand term, fits into the "accurate" category — and that to avoid losing your retirement stash, you should be wary of potential pitfalls.

New Law Repeals Expanded 1099 Reporting Rules

On April 14, 2011, President Obama signed legislation — the Comprehensive 1099 Taxpayer Protection and Replacement of Exchange Subsidy Overpayments Act of 2011 — repealing expanded reporting rules for businesses and landlords that had been created by laws passed in 2010.

Emails When You Are Away

Are you connected to your email all day with clients, co-workers and business partners expecting an immediate response until home time?

IRS Increases Dollar Threshold For Tax Liens

The IRS recently announced that it will moderate its use of tax liens to collect back taxes. A federal tax lien gives the IRS a claim on a delinquent taxpayer's property for unpaid taxes.

Tax Tip Tuesday! Know The Rules For Supplemental Wage Withholding

In addition to regular compensation, do you pay employees other wages, such as commissions, awards, or back pay? If so, these payments, known as supplemental wages, may be subject to special rules that affect how much federal income tax you withhold.

What You Need To Know About Private Mortgage Insurance

If you're in the market for a home, you've probably heard of private mortgage insurance or PMI. It's insurance that protects lenders — not borrowers — if the mortgage goes into default.

How To Get Hold Of Cash Quickly

"Liquidity" was a term little known to the non-financial world until two years ago when the Global Financial Crisis sucked the liquidity out of the world's money markets.

Current Year Estimated Income Tax Due - Second Installment

Date: 2011-06-15 - Corporate Income/Franchise: Second installment of current year estimated income...

Check Out Disability-Related Tax Breaks

A variety of tax breaks are available to help disabled taxpayers cope with the financial burdens of disability. Businesses that improve access for the disabled are also eligible for tax credits and deductions.

Tax Tip Tuesday! SEPP IRA Distributions Avoid Penalties

Tapping into your IRA early is a tough decision, even if you feel you have no alternative. One reason is the 10% penalty put in place to keep you from using retirement funds prematurely.

Nonprofit Organizations May Have Tax Obligations

If you're an officer or on the board of a community organization, you may wonder about the tax requirements that apply to your group. Generally an organization will not owe taxes if two things are true:

Are You In Compliance? NYS Department of Labor Wage Theft Prevention Act

On April 9, 2011, the Wage Theft Prevention Act (WTPA) took effect to five more protection to workers in NYS.

Tax Tip Tuesday! Pay Employees For Riding Bikes To Work

Bicycles may well be the vehicles of novelists and poets, as stated by journalist Christopher Morley. But these days bicycles are also the vehicles of commuters — and if they're the vehicles of commuters who work in your business, you can offer a nontaxable fringe benefit of up to $20 per month.

Should You Buy Identity Theft Insurance?

For most people in America, identity theft poses a real risk. If you've ever been granted a credit line, set up a bank account, or applied for government assistance, your identity is valuable. By some estimates, identity theft occurs about three times a minute in the United States.

Make Sure You are Contactable

Ever tried to get hold of a firm but can’t find its phone number on its website? Or tried to look it up in a business directory and it’s not there? It’s frustrating and makes you wonder how much the owners want to speak to their clients.

Smoothing Out Cash Flow Could Save Your Business

A sad and oft-repeated truth is that half of all new businesses fail within the first five years. In fact, all too many fail in their first decade.

Tax Tip Tuesday! Brush Up On The Home Office Deduction

You probably update your home on a regular basis. When was the last time you updated your understanding of the home office tax deduction?

What's New: Make Summertime Tax-Saving Time

Summertime fun can be made even more enjoyable by adding tax savings. Here are some tax-saving ideas to consider.

The Modern Way To Use Mobile Phones

More than just taking and receiving phone calls and text messages, a mobile phone can run your calendar, receive and send emails, browse the internet and play movies and music.

What's New: Unemployment Benefits: Are They Taxable?

Unemployment compensation can provide a welcome buffer while you're transitioning to a new job. But with the help comes a tax effect, because the benefits provided under federal or state laws are usually includable in your income in the year you receive them.

Tax Tip Tuesday! Some IRA Terms You Should Know

The changes to laws governing Roth conversions that took effect in 2010 brought IRAs to the forefront of tax planning conversations. Those conversations will likely continue this year, as some changes to your new Roth can be made through October 2011.

Small Companies Get Additional Time For Reporting Benefits

The IRS has just announced that small companies will get an additional year before being required to report the value of employee health benefits on their employees' W-2 forms.

Business Travel On A Budget

Business travel can quickly become a financial black hole. It’s worthwhile developing a formula for keeping costs as low as practicable without compromising on comfort. The two areas responsible for the majority of cost blowouts: hotels and airfares, can both be minimized with a little effort.

Tax Breaks Can Help When Disaster Strikes

Recent events here and abroad are reminders that disasters can occur at any time — often with staggering human and financial costs. If you're an unlucky victim of a disaster, you may receive help from insurance and federal disaster aid. But the tax code also offers some relief.

Are You On Top Of Your Competitors?

The internet has made it much easier to keep on top of your competitors’ activities with the spread of social media. Even if your competitors don’t use social media, you can bet their clients and suppliers do.

Tax Tip Tuesday! Landlords May Qualify For A Passive Loss Exception

If you're thinking of buying rental real estate while home prices are low, you'll want to be aware of passive activity loss rules.

New Job? What To Do With Your 401(k) Plan

Changing jobs can be a stressful event. A new boss, new co-workers, and new benefits to sign up for. These days you might well have one more decision to make — what to do with your 401(k) plan.

Why It's Important To Keep An Eye On Your Company's Cash

Do you regularly monitor your company's cash accounts? You should. Even if you leave the job to your bookkeeper or accountant, you should stay aware of where the cash is going and how the spending is approved.

Tax Tip! IRS Increases Standard Mileage Rates

Have you noticed the price of gas? So has the IRS, and — for the fourth time since 1999 — the reimbursement rate for business mileage has changed mid-year.

Handing Over The Family Business

According to the Small Business Administration in the USA, only a third of family-run firms make it to the second generation. What are the strategies to ensuring your firm is one of those that survive? The key is succession planning.

Setting Your Salary: What's The Right Amount?

One of the greatest perks of owning a small business is flexibility. You can set your own hours and salary. You can plot the firm's trajectory without consulting your boss, upper management, or even corporate policy.

Tax Tip Tuesday! You Might Qualify For The New Hire Retention Credit

Did you hire employees who qualified for last year's exemption from a portion of social security taxes? Are those employees still working for you?

How To Trim Vacation Costs

With a little planning and ingenuity you can trim the cost of that summer getaway without cutting back on fun and relaxation. Here are a few ideas.

IT Security As A Competitive Advantage

In 1991 Charles Cresson Wood wrote an article entitled ‘Using Information Security to Achieve Comp...

What's New: Watch Out For E-mail And Phone Scams

The IRS is warning taxpayers not to respond to e-mails and phone calls they may receive which claim to come from the IRS or another federal agency. Such contacts are likely to be scams whose purpose is to obtain personal and financial information from taxpayers, which are then used by the scammers to commit identity theft.

Tax Tip Tuesday! Tax Credits Can Be Refundable

Unlike leopard spots and tiger stripes, tax credits do change. And, in the federal tax equivalent of spots and stripes, some even change from non-refundable to refundable.

New Business: Recent Reports Give Job Market Picture

As the focus these days is on the economy and jobs, various reports and surveys show that things seem to be changing. Here are some of the statistics.

Pay Offs Of Training Staff

Training your team members appropriately and frequently is indeed an investment - and one with a powerful return. When your team members are nurtured with the necessary staples they will make better decisions, their relationships will improve and their opinions will show deeper insight.

What's New: IRS Increases Mileage Rates

The IRS has increased the standard mileage rates to be used for computing the deductible costs of operating a vehicle for business or for driving for medical or moving reasons. The new rates will apply to driving from July 1, 2011, through December 31, 2011.

Tax Tip: Does Your IRA Have Unrelated Business Taxable Income?

When you think of taxes and IRAs, early withdrawals and required minimum distributions probably come to mind. But another tax can apply: the unrelated business income tax.

Consider The Time Value Of Money In Making Financial Decisions

Suppose you're selling a piece of property worth $400,000. You're offered $210,000 down and lump sum...

Smartphones Ring In The Change

By now it would be virtually impossible not to have had a close up and personal encounter with the mobile giant: the smartphone.

Look Into The Benefits Of A Solo 401(k)

Have you heard about solo 401(k) plans? The traditional type of 401(k) retirement plan is now available for self-employed individuals. And it lets you save more than other types of plans.

Tax Tip Tuesday! Estate Basis Rules Might Affect You

Are you the beneficiary of an estate created in 2010? If so, you might want to start thinking about your basis in the assets you inherited.

Tax Tips For Your Vacation Home

Planning to rent out your vacation getaway? When it comes to taking advantage of the tax benefits, timing is an important factor. Here are two points to remember.

Expand Your Client Base

If you want to expand your client base, a good place to start is by asking yourself if your marketing is clear, sound and persuasive. Does your marketing convince skeptical clients that your service is the one for the job? If not, it may not be working to your advantage.

Think Carefully Before Hiring Family Members

Some family members have the skill and can-do attitude to propel a firm toward greater success; others have the power to drag it toward bankruptcy. Before hiring a son-in-law who's clamoring for an executive position or a sister who recently graduated from college, beware of these pitfalls.

Tax Tip Tuesday! Add To Your Retirement Plan Vocabulary

The definition of retirement may be in flux, but the vocabulary describing your retirement plans remains the same. Here are three common terms.

Should I Buy Or Rent A House?

From articles in respected financial journals to spots on late-night television, real estate hawkers and investment gurus have touted the benefits of homeownership. "Don't throw your money away on rent," they admonish. "Interest rates are headed up. Now's the time to buy." "After all," they suggest, "buying a house is a surefire way to build wealth."

Give Your Sales Techniques A Facelift

Creating a network, staying relevant and working within your niche to identify competitors are all sales strategies that are engaged at any business. However social networks such as Facebook have revolutionized every area of society – and sales techniques are no exception.

What's New: 401(k)'s Are Making A Comeback

Savings in 401(k) plans are increasing, a welcome bit of news after the big hit plans took in the recent economic downturn.

Tax Tip Tuesday! Buying A Business Creates Tax Issues

Since there are no federal income taxes imposed on the purchase of a business, as the buyer of an ex...

New Business: Should You

ROBS is an acronym for a relatively new financing arrangement known as a "rollover as business startup" being touted on the Internet and arranged by some investment firms.

Better Ways To Back Up

It seems like backing up should be an obvious daily activity in this technology-dependent world of business where one spilled latte can destroy months of data. With such a simple slip up constantly on the horizon, backing up your data should be the last thing you do each day to ensure that whatever happens, you will not be backtracking and re-doing work.

What's New: Animal-Rescue Volunteers Win Tax Deduction Case

If you provide care for stray or feral animals in your home for an IRS-approved charity, you may be able to take a tax deduction for your out-of-pocket expenses.

Financial Mistakes You Should Avoid

We all make mistakes in managing our finances, but some mistakes are worse than others. Here are four of the biggest mistakes to avoid.

Advice On Firing Team Members

The process of letting a team member go is uncomfortable and upsetting. However there are a few guidelines that can help soften the blow called the five Ws - who, what, when, where and why:

A Critical Business Question: Should You Incorporate Or Not?

One of the first decisions you face as a new business owner is whether or not to incorporate the business. The biggest advantage of incorporating is limitation of your liability.

Tax Tip Tuesday! Check The Tax Rules For 529 Plans

If you are thinking of opening a 529 college savings account for yourself or your child, a review of the tax rules should be on your to-do list. Here's a summary.

Heed The Rules For Deducting Charitable Contributions

Sticking to the rules when making charitable contributions can save tax dollars. Here are three tips.

Is A Business Plan Still Necessary?

There is a heated debate regarding the merits of writing a detailed business plan. The gist of the debate is whether or not there is a benefit (financial and overall) to writing a detailed business plan, or whether this has become a dated concept and a fledgling business can thrive without one.

How To Value Your Business Inventory

Having an accurate picture of your company's inventory costs is often essential for determining profitability. If you don't know how much your inventory is worth, you can't determine the cost of goods sold and your company's net profit.

Tax Tip Tuesday! Borrowing From Your 401(k) Can Be Taxing

When you borrow from your 401(k), you become both a borrower and a lender. Whether that's a good idea depends on your personal financial situation – and in the process of making the decision about lending money to yourself, you may have questions regarding the tax consequences.

Tips For Building Wealth

Some wealthy folks hail from a long line of aristocrats and industrial magnates. A lucky few win the lottery. But about 80% of the millionaires in America are "first generation" rich... How did they do it?

Buying Desktops For Your Business

When making the decision to equip your office with the right tools, desktop computers are at the top of the list. There is one rule to remember: resist the urge to buy cheap.

Payroll Tax

Title: Payroll TaxDescription: Deposit payroll tax for payments on May 7 - May 9 if the semiweekly d...

April Payroll Tax

Title: April Payroll TaxDescription: Deposit payroll tax for April if the monthly deposit rule appli...

Memorial Day

Title: Memorial DayDate: 2014-05-26...

Mother's Day

Title: Mother's DayDate: 2014-05-11...

Employees who worked for tips

Title: Employees who worked for tipsDescription: If you received $20 or more in tips during April, r...

Form 941

Title: Form 941Description: File Form 941 for the first quarter if you timely deposited all required...

Employees who work for tips

Title: Employees who work for tipsDescription: If you received $20 or more in tips during May, repor...


Title: PayrollDescription: Deposit payroll tax for payments on June 7 - June 10 if the semiweekly de...

Flag Day

Title: Flag DayDate: 2014-06-14...

Payroll Tax

Title: Payroll TaxDescription: Deposit payroll tax for payments on May 3 - May 6 if the semiweekly d...

Father's Day

Title: Father's DayDate: 2014-06-15...

Form 1040

Title: Form 1040Description: If you are a U.S citizen or resident alien living and working (or on mi...

Form 2290

Title: Form 2290Description: File Form 2290 and pay the tax for vehicles first used during May.Date:...

Independence Day

Title: Independence DayDate: 2014-07-04...

June Payroll Tax

Title: June Payroll TaxDescription: Deposit payroll tax for June if the monthly deposit rule applies...


Title: IndividualsDescription: Pay the second installment of 2014 estimated taxDate: 2014-06-16...


Title: mployersDescription: Deposit payroll tax for May if the monthly deposit rule applies.Date: 20...


Title: CorporationsDescription: Deposit the second installment of your 2014 estimated tax. Date: 201...

First Day of Summer

Title: First Day of SummerDate: 2014-06-21...

Payroll Tax

Title: Payroll TaxDescription: Deposit payroll tax for payments on May 17 - 20May if semiweekly depo...

5500 or 5500-EZ

Title: 5500 or 5500-EZDescription: Employers, file Form 5500 or 5500-EZ for employee benefit planDat...


Title: FUTADescription: Deposit FUTA owed through June if more than $500Date: 2014-07-31...

Form 941

Title: Form 941Description: Deposit Form 941 for the second quarterDate: 2014-07-31...

Form 730

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Form 720

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