Category: Business Resources

In the military, I was taught that in the midst of chaos to stay calm. Regardless if it was an aircraft or patient emergency, we practiced staying calm.   There is a very practical reason in chaos or emergencies to …

Staying Calm in the Midst of Chaos Read More »

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Restaurants closing! San Francisco on 21-day shelter in place! Schools closed! Businesses have started laying off people! UCLA Anderson Forecast stated yesterday the US is now in a recession All of the above happened yesterday March 16, 2020!!!!! Five Steps …

Business Owners: How are you addressing the coronavirus? Read More »

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The Bipartisan Budget Act of 2015 (“Act”) made significant changes to the Internal Revenue Service’s (“IRS”) partnership audit rules effective for partnership tax years beginning in 2018. How the new audit rules will affect a partnership and its partners will depend, in large part, on choices the partnership, the partnership representative, and/or the partners make or fail to make.

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Your year-end tax planning doesn’t have to be hard. I have outlined below five strategies that will increase your tax deductions or reduce your taxable income so that Uncle Sam gets less of your 2018 cash. Prepaying your 2018 expenses …

Last Minute 2018 Year-End Tax Planning Read More »

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Thinking about a Business Vehicle purchase?  Two Questions: Do you need a replacement business car, SUV, van, or pickup truck? Do you need tax deductions this year? Here are some ideas for you to consider: Buy a New or Used …

Business Vehicle Purchase under New Tax Law 2018 Read More »

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From one of my business coaches Salim Omar and the Omar Group, I wanted to provide you with the following visual aid he has created.  If you are like many small business owners, meetings happen too often, no clear results …

Get Your Team to Participate in Your Meetings Read More »

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Ted Smith’s “Real World” Business Strategy Caring For Your Existing Customers For Fun and Profit “Do something nice and try not to get caught.” – Quaker Proverb I’ve spoken before about the value of a regular communication plan with your …

Caring for Existing Customers for Fun and Profit Read More »

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It is imperative that every small business owner maintains a separate business bank account for the business. The IRS frowns on the commingling of business and personal transactions.  

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If you sell goods online, you are probably aware of the “sales tax earthquake” that rumbled forth from the highest court last week in Washington. In South Dakota v. Wayfair Inc., the court ruled that states and municipalities could now require online …

Sales Tax Earthquake Read More »

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Albert Einstein said, “Life is like riding a bicycle.  To keep your balance, you must keep moving.” I am sure most of you have all heard of the Pareto 80/20 rule.  Maybe 80% of your sales come from 20% of …

Keep Moving – How to be in the Top 20% of Businesses Read More »

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