Bookkeeping Bistro

House votes to make current estate tax permanent

2009-12-04T18:11:00.000-05:00

House votes to make current estate tax permanent

WASHINGTON (Dec. 4, 2009) — By a 225-200 vote, the U.S. House of Representatives has voted to make permanent the current estate tax rate of 45 percent on individual estates worth more than $3.5 million for individuals or $7 million for married couples.

Under the current law, the federal government has phased in gradual reductions in the estate tax, with total repeal in 2010. However, the repeal would sunset in 2011, bringing the tax back to the old, pre-2001 rate of 55 percent on estates worth more than $1 million.

Small business groups such as the Tire Industry Association (TIA) have long favored total repeal of the estate tax, saying it is the only way to ensure small businesspersons won’t have to sell off their inheritance simply to pay the tax. Other groups, however, insist an estate tax repeal would cost the federal government too much money at a time it can ill afford the loss of revenue, and also that the tax’s danger to small business is exaggerated.

Paul Fiore, TIA director of government and business affairs, said the association is encouraged by the House vote. However, he said, TIA hopes for quick congressional passage of the proposal by Sens. Blanche Lincoln, D-Ark., and Jon Kyl, R-Ariz., to permanently raise the estate tax exemption to $10 million per couple and reduce the top tax rate to 35 percent.

Strategies: Get started now on end-of-year small business tax savings

2009-12-04T02:01:00.000-05:00

Strategies: Get started now on end-of-year small business tax savings

It's December. You know what that means. No, not just holiday shopping, and in-laws sleeping on your couch. For small business owners, it means it's time to take a few easy steps to reduce your taxes.
Right now – as soon as you finish reading this column – take the following steps:

1. Do a quick accounting to figure out a likely ballpark figure of your profit or loss for the year.

2. Set up a time to talk to your accountant within the next week.

Hope that novel approach with SBA, investors will open new source of funding

2009-12-02T09:56:00.000-05:00

Hope that novel approach with SBA, investors will open new source of funding

“The backbone of our local economy is made of small businesses, and that goes for the country as a whole, but small business is the least likely of all the sectors to be on the receiving end of bank loans,”

How to Reduce Your Small Business Tax Bill

2009-12-01T00:17:00.000-05:00

How to Reduce Your Small Business Tax Bill

Advice for small business on how to save on taxes by taking the right deductions, making smart tax elections, keeping with current law changes, and learning standard tax rules.

Thanksgiving Quotes: Inspirational, Reflective Sayings To Share With Friends And Family

2009-11-27T23:07:00.000-05:00

Thanksgiving Quotes: Inspirational, Reflective Sayings To Share With Friends And Family

"As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them." -John Fitzgerald Kennedy

"Not what we say about our blessings, but how we use them, is the true measure of our thanksgiving." -W.T. Purkiser

"Thanksgiving dinners take eighteen hours to prepare. They are consumed in twelve minutes. Half-times take twelve minutes. This is not coincidence." -Erma Bombeck

.Even in Recession, Some Small Businesses Grow

2009-11-25T20:07:00.001-05:00

Even in Recession, Some Small Businesses Grow By ANNE FIELD
Published: November 24, 2009
Many small businesses have found themselves treading water, at best, during the recession. But, that is not true for everyone. In fact, a significant minority of resilient companies have been able to do the seemingly impossible and increase revenue in these troubled times. According to a recent survey of 300 small-business clients conducted by SurePayroll, a payroll service based in Chicago, about 30 percent of respondents said their sales increased over the last year.

QuickBooks 2010 Helps Merchants "Go Paperless"

2009-11-24T07:52:00.000-05:00

QuickBooks 2010 Helps Merchants "Go Paperless"

QuickBooks is the leader in small-business accounting software. According to Intuit, which produces QuickBooks, nearly 50 million people use it or a similar Intuit product.

Intuit releases a new version of QuickBooks annually. The 2010 version was just released on Intuit's site. The upgrade price is $179 for single user license of QuickBooks Pro.

To determine the principal benefits of the 2010 version, we spoke with Denise Loter, a Certified QuickBooks Pro Advisor. Loter owns EBS Associates, a Portland, Ore.-based accounting firm that offers QuickBooks training solutions, as well as small business accounting services.

Loter said that she recommends her small business clients purchase the QuickBooks upgrade each year. For the 2010 version, Loter described what she believed to be the primary new features.

New and enhanced features in QuickBooks 2010

2009-11-23T07:08:00.000-05:00

New and enhanced features in QuickBooks 2010

By Joe Woodard, AccountingWEB QuickBooks columnist

Each year Intuit releases a new version of the QuickBooks product line: Simple Start, Pro, Premier (in several industry-specific editions) and Enterprise Solutions (in several industry specific editions). Each year we QuickBooks ProAdvisors and Intuit Solution Providers look forward to the new version of QuickBooks with great expectation - looking to see what items we can drop from our QuickBooks "wish lists."

Look to the States for Small Business Grants

2009-11-20T10:36:00.000-05:00

Look to the States for Small Business Grants

Small business grants are closer than you think. In fact, the small business grant you need to start or expand your business may be available right in your own home state.

While there are still no direct small business grants available from the federal government, many state development agencies offer direct small business grants and other types of financial assistance designed to encourage and assist entrepreneurs in starting or expand a small business.

www.1stuba.net

Small Business Initiative Announced by Warren Buffett and Goldman Sachs

2009-11-19T13:28:00.000-05:00

Small Business Initiative Announced by Warren Buffett and Goldman Sachs

Washington DC- Yesterday, Goldman Sachs announced that it was partnering with Warren Buffett to support small businesses in this challenging economic environment with a new initiative called 10,000 Small Businesses. The initiative will dedicate $500 million to lending, technical assistance, and education for small businesses. Community Development Financial Institutions (CDFI's) will have access to $300 million in grants or investments to increase small business lending.

Intuit Smoothes Transition From Microsoft Office Accounting

2009-11-18T09:10:00.000-05:00

Intuit Smoothes Transition From Microsoft Office Accounting

Intuit Inc. is extending a helping hand to small businesses affected by the discontinuation of Microsoft Office Accounting, which will no longer be distributed after today.

The QuickBooks maker is providing a free conversion tool that will help former Microsoft users seamlessly transfer their small business accounting data to QuickBooks products.

Top Small Business Technologies Honored

2009-11-17T20:18:00.000-05:00

Top Small Business Technologies Honored

Awarded annually, the Awesome Add-ons recognize software programs, web-based applications and services that help enhance QuickBooks by giving users additional tools for managing their businesses. Winners are selected by The Sleeter Group, the nation’s premier network of small business technology consultants.

QuickBooks Training Workshop and Luncheon

2009-11-16T10:44:00.000-05:00

1st United Business Advisors & Bookkeeping Bistro present…

QuickBooks Workshop (Maximizing America’s #1 Rated Small Business Accounting Software)

“9 am - 2 pm WEDNESDAY December 2nd @ RAMADA INN CONYERS”

Admission: $99 before 11/27/09 - $149 after 11/27/09 (Admission payments must be received by 5 pm Monday November 30th)

Admission Includes: QuickBooks Workshop Materials and Breakfast, Lunch, and Refreshments provided by BORAGE GRILL

Sponsored By: BORAGE GRILL, EXPRESSABLE INK, and RAMADA INN CONYERS

For ticket purchases/info visit: www.1stunitedbusinessadvisors.com

What You’ll Learn:
• The 7 Costly Mistakes your bookkeeper could be making
• How to save money and remain profitable in the tough economy
• How to setup your QuickBooks File –
• Choosing and modifying your chart of accounts
• How to setup bank accounts, loans, credit cards, enter beginning balances, and reconcile accounts
• How to record and maintain Fixed Assets. What qualifies?
• How to setup vendors, customers, jobs, and items
• How to Invoice, receive customer payments, and maintain accounts receivable
• How to record vendor invoices in the accounts payable module
• How to set up and run a memorized group of custom reports
• How to run end of year reports and set up 1099’s for subcontractors
• Learn 20 Business Tips Every Business Owner Should know
• Please respond with any specific topics you would like to discuss and I will add it to the curriculum. All questions will be answered.

Who Should Attend
This is for Business Owners who need to learn how to keep their books in user friendly accounting software. In addition, this is for Job Seekers looking for a viable skill to enhance their resume. Also, train Current or New Employees, Bookkeepers and other Accounting Professionals who need learn how to effectively use QuickBooks.

For more information email: info@1stuba.net

Strategies: It's time for a small business job creation tax credit

2009-11-16T07:52:00.000-05:00

Strategies: It's time for a small business job creation tax credit

By Rhonda Abrams, USA TODAY

Hurrah! Let's have a parade. New jobless claims declined to a "mere" 512,000 last week. It's supposed to be good news that another half million Americans lost their jobs in just one week. The reality is that, sure, fewer big corporations are laying people off (I guess that after all their previous layoffs, they need someone to keep the lights on), but unemployment remains nastily, staggeringly high.

Small business is supposed to be the engine of job creation, so, Congress, let's give this engine some fuel. I've proposed this before, and I'll propose this again:

• A 25% tax credit for small businesses hiring their first employee.

U.S. small business optimism edges higher in October

2009-11-13T20:29:00.000-05:00

U.S. small business optimism edges higher in October

WASHINGTON (Reuters) - U.S. small businesses grew slightly more optimistic last month but owners remained cautious as weak sales gave them little reason to order new stocks, a survey released on Tuesday showed.

The National Federation of Independent Business said its monthly small business optimism index grew for the third straight month, rising 0.3 points to 89.1 in October.

Small businesses downsize real estate, save money: "I'd rather keep my people and not spend the money on the bricks and mortar,"

2009-11-12T09:42:00.000-05:00

Small businesses downsize real estate, save money

By JOYCE M. ROSENBERG

NEW YORK — There's a downsizing trend under way at many small businesses: Moving to smaller offices because of shrinking staffs and as more workers telecommute.

Owners say they're saving money on real estate, office furniture and other expenses by letting employees work from home or by using independent contractors who don't work on-site. And those who have cut staffers obviously don't need to provide space for them.

AT&T Offering Small Businesses Discounted Access to More Than 1,000 Business Centers Worldwide

2009-11-11T10:49:00.000-05:00

AT&T Offering Small Businesses Discounted Access to More Than 1,000 Business Centers Worldwide

AT&T Collaborating with Regus to Provide Affordable Office Space, Complete with Furnishings, Technology and Communications Services
November 11, 2009: 10:14 AM ET

DALLAS, Nov. 11 /PRNewswire-FirstCall/ -- Further extending its holistic approach to meeting the needs of small businesses from coast to coast, AT&T* announced today an alliance with The Regus Group (LSE: RGU), the world’s largest provider of workplace solutions. Under the alliance, Regus will provide AT&T small business customers with affordable, convenient and flexible office space, featuring administrative, communications, printing and technology services.

ExpenseWatch.com Selected as 'Awesome QuickBooks Add-on'

2009-11-10T10:53:00.000-05:00

'Awesome QuickBooks Add-on'

CONSHOHOCKEN, Pa., Nov. 10 /PRNewswire/ -- ExpenseWatch.com has been honored by The Sleeter Group as one of its 2010 "Awesome Add-ons for QuickBooks." The award recognizes ExpenseWatch.com as one of the most productive and effective technologies that enhance the world's most popular business management software.

The hammer falls on Quicken Online; Mint.com emerges solo

2009-11-06T22:35:00.000-05:00

The hammer falls on Quicken Online; Mint.com emerges solo

Intuit, makers of Quicken, QuickBooks and TurboTax, will shut down its free Quicken Online personal finance site in six to nine months and put all its chips in with newly-bought Mint.com.

The company closed on its $170 million acquisition of Mint yesterday. That made Mint founder and CEO Aaron Patzer the new vice president and general manager of Intuit’s Personal Finance Group, heading up Mint.com, Quicken Online and Quicken desktop products.

House Panel OKs Small-Business Exemption on Accounting Rules

2009-11-05T08:29:00.000-05:00

House Panel OKs Small-Business Exemption on Accounting Rules

By FAWN JOHNSON

WASHINGTON -- A bill expanding investor protection powers of the Securities and Exchange Commission cleared a key House panel Wednesday after members narrowly approved an exemption for small- and mid-size companies from audits required under the Sarbanes-Oxley corporate-reform law.

Survey: Small businesses more optimistic about recovery

2009-11-03T18:50:00.000-05:00

Got small business accounting questions? Let First United Busines Advisors help you.

Survey: Small businesses more o ptimistic about recovery

Most small business owners believe the economy will recover within the next year, according to a new survey from Administaff Inc. released Monday.

The survey by the Kingwood, Texas-based human resources firm (NYSE: ASF) found that 13 percent of respondents believed the recovery was already under way, and a further 52 percent believed the economy would turn around in 2010. Another 21 percent thought the recovery would come in 2011.

Fujitsu Announces Check Scanning Capabilities for QuickBooks 2010

2009-10-30T10:14:00.000-04:00

Fujitsu Announces Check Scanning Capabilities for QuickBooks 2010

Fujitsu Computer Products of America, Inc., the market leader in document imaging scanners and services, today announced that Intuit Inc. will offer the company's award-winning Fujitsu ScanSnap S300 scanning solution to be used with Intuit Check Solution for QuickBooks®, an add-on check processing service for QuickBooks 2010. Together, these solutions provide small businesses with an efficient way to scan paper checks into QuickBooks 2010 so they can skip the bank lines and start depositing checks electronically.

Find free or dirt cheap tools online for your small business

2009-10-29T08:27:00.000-04:00

Find free or dirt cheap tools online for your small business

If you run a small or even medium sized business you will know that finding tools that can make a difference to your business can be tough. What exactly do you need and how do you apply it? Perhaps you are not too tech savvy and find yourself stuck in a pool of really off putting dredgeware (my word) that doesn’t cost much but also doesn’t do all that much. Finding financial management software is probably the biggest issue and unfortunately the best solution often is to fork out a couple of thousand Rand and get a decent package that can make it easier for you.

Political Uncertainty Puts Freeze on Small Businesses

2009-10-28T07:30:00.000-04:00

Political Uncertainty Puts Freeze on Small Businesses

By GARY FIELDS
W. Michael Brown has scaled back hiring plans in his Virginia auto-parts stores. Carl Redman halted an expansion project at his Oregon contracting business. Bill Hammack is preparing layoffs at his road-construction company in Georgia.

The economy remains unsteady 22 months after the recession began, with banks restricting credit and consumers hunkering down. For these small businesses, and many others across the country, there's an additional dark cloud: uncertainty created by Washington's bid to reorganize a wide swath of the U.S. economy.

Special Report: Doing Business With No Walls

2009-10-27T14:08:00.000-04:00

Special Report: Doing Business With No Walls

A computer, a telephone, a personal assistant: The 21st century mobile phone is all of that, and more. Now Entrepreneur offers a guide to fully mobilizing your business--including the best gizmos to get the job done.

The first indication that Doug Sohn runs an old-school operation is the sign in front of the cash register at Hot Doug's, his "sausage superstore" in Chicago. It reads "Cash Only," and Sohn means it. If a customer protests, he might chide them: "Didn't your mother tell you to always have $20 in your pocket?"

No surprise that Sohn isn't what you would call an early adopter of new technology. Yeah, he carries a cell phone (just his second in six years), but that's about as wired as he gets.

Intuit Enters Logo Business With QuickBooks

2009-10-26T09:34:00.000-04:00

Intuit Enters Logo Business With QuickBooks

MOUNTAIN VIEW, Calif. (TheStreet) -- In one of the strangest twists in small-business software, accounting giant Intuit(INTU Quote) has started providing design services.

Do Not Wait For Insurance Settlement; SBA Urges Return of Applications Before the Deadline

2009-10-23T09:06:00.000-04:00

Do Not Wait For Insurance Settlement; SBA Urges Return of Applications Before the Deadline

The U.S. Small Business Administration is reminding disaster victims in 17
Georgia counties that they should not wait to settle with their insurance
companies before applying for disaster loan assistance. The SBA encourages
victims of the severe storms and flooding that occurred from September 18
through October 8, 2009, to return their completed applications, even if they
have not settled with their insurance company. The deadline to file an SBA loan
application for physical damage is November 23.

1st United Business Advisors & Bookkeeping Bistro present…

2009-10-22T08:47:00.000-04:00

1st United Business Advisors & Bookkeeping Bistro present…

QuickBooks Workshop (Maximizing America’s #1 Rated Small Business Accounting Software)

“9 am - 4 pm WEDNESDAY November 4th @ RAMADA INN CONYERS”

Admission: $99 before 10/28/09 - $149 after 10/28/09 (Admission payments must be received by 5 pm Monday November 2nd )

Admission Includes: QuickBooks Workshop Materials and Breakfast, Lunch, and Refreshments provided by BORAGE GRILL

Sponsored By: BORAGE GRILL, EXPRESSABLE INK, and RAMADA INN CONYERS

For ticket purchases/info visit: www.1stunitedbusinessadvisors.com

What You’ll Learn:
• The 7 Costly Mistakes your bookkeeper could be making
• How to save money and remain profitable in the tough economy
· How to setup your QuickBooks File –
· Choosing and modifying your chart of accounts
· How to setup bank accounts, loans, credit cards, enter beginning balances, and reconcile accounts
· How to record and maintain Fixed Assets. What qualifies?
· How to setup vendors, customers, jobs, and items
· How to Invoice, receive customer payments, and maintain accounts receivable
· How to record vendor invoices in the accounts payable module
· How to set up and run a memorized group of custom reports
· How to run end of year reports and set up 1099’s for subcontractors
· Learn 20 Business Tips Every Business Owner Should know
· Please respond with any specific topics you would like to discuss and I will add it to the curriculum. All questions will be answered.

Who Should Attend
This is for Business Owners who need to learn how to keep their books in user friendly accounting software. In addition, this is for Job Seekers looking for a viable skill to enhance their resume. Also, train Current or New Employees, Bookkeepers and other Accounting Professionals who need learn how to effectively use QuickBooks.

Less than Three Weeks to Apply for SBA’s Disaster Assistance; Application Deadline for Physical Damage Is November 3

2009-10-21T09:12:00.000-04:00

Less than Three Weeks to Apply for SBA’s Disaster Assistance; Application Deadline for Physical Damage Is November 3

ATLANTA - (Business Wire) The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for physical damage caused by the August 12, 2009 severe storms and flooding in the Commonwealth of Kentucky. The deadline to file an application for physical damage is November 3, 2009.

Homeowners, renters, non-profit organizations and businesses of all sizes in Leslie County and the adjacent counties of Bell, Clay, Harlan and Perry in the Commonwealth of Kentucky are eligible to apply for physical disaster assistance.

The SBA offers loans up to $200,000 to repair disaster damaged primary residences. Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans to businesses and non-profit organizations of all sizes are available up to $2 million to repair or replace damage to real estate, machinery, inventory and equipment.

SBA Economic Injury Disaster Loans (EIDLs) are available to small businesses and most private non-profit organizations of all sizes to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates are as low as 2.750 percent for homeowners and renters and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

The SBA also offers mitigation funds to disaster victims up to 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures which may prevent damages of the same kind in the future.

To obtain program information or a loan application, call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Saturday from 8 a.m. until 9 p.m. EDT or send an email to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those affected by the disaster may apply for disaster loans from SBA’s secure Web site at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical damage is November 3, 2009. The deadline to return economic injury applications is June 4, 2010.

For more information about the SBA’s Disaster Loan Programs, visit our Web site at www.sba.gov/services/disasterassistance

Release Number: 10-026, KY 11862/11863

SBA
Michael Lampton, 404-331-0333

Jobs: We must invest in our entrepreneurs

2009-10-20T11:37:00.000-04:00

Jobs: We must invest in our entrepreneurs

When a region has an economy undergirded by small businesses and entrepreneurs, it should do everything possible to sustain the foundation. This is even more important during a recession that is forcing thousands out of the corporate world who have the knowledge and talent to become entrepreneurs.

Entrepreneurs turn to small business centers for free help

2009-10-19T11:17:00.000-04:00

Entrepreneurs turn to small business centers for free help

By Laura Petrecca, USA TODAY

SUFFERN, N.Y. — On a rainy October morning, Miyoko Yamakawa sits across from a pair of business counselors at the local Small Business Development Center here. She's trying to update her business plan and get advice about how to raise money for her flavored-vodka venture.

With her vibrant scarf, splash of bright red lipstick and three 750ml bottles of colored liquor, Yamakawa stands out in the beige, sparsely decorated office. She talks enthusiastically about vodka varieties and her desire for national distribution.

Seated across from her, Geri Kavanah and Jerry Kobre are calmly but firmly trying to keep the entrepreneur focused on her business model. Yet Yamakawa continues on about how her new vodka flavor — jalapeño — could be a hot seller.

But the advisers persist. Flavors are important, but Yamakawa needs to keep on top of mundane but crucial issues such as managing invoices and making sure she has enough insurance.

Small-business owners advised to prepare for flu

2009-10-16T08:51:00.000-04:00

Small-business owners advised to prepare for flu

Small-business owners are used to operating lean, but many would be ill prepared to continue operations if an influenza pandemic hit their workplace.

A pandemic could affect as many as 40 percent of the workforce during periods of peak influenza illness, according to the Occupational Safety and Health Administration in Washington, D.C.

Effort Underway to Speed Aid to Small Businesses

2009-10-15T14:45:00.000-04:00

Effort Underway to Speed Aid to Small Businesses

By David Cho and Brady Dennis
Washington Post Staff Writers
Thursday, October 15, 2009

The federal government is developing initiatives to make billions of dollars of bailout funds available to small businesses through community banks, according to lawmakers and other government officials.

Quicken 2010: Easy Money Management Helps People Save More, Avoid Overspending

2009-10-14T11:08:00.000-04:00

Quicken 2010: Easy Money Management Helps People Save More, Avoid Overspending

MOUNTAIN VIEW, Calif.--(Business Wire)--
With an easier setup, fresh new design and dramatically simplified navigation,
Quicken 2010® for Windows® makes it easier for people to watch their spending,
pay bills and make the most of their money. The improvements mean consumers can
get up and running faster with Quicken desktop software, making getting a handle
on their spending a breeze.

QUICKBOOKS BOOT CAMP

2009-10-13T07:19:00.000-04:00

What: QUICKBOOKS BOOT CAMP BASIC TRAINING: Start-up to Back-Up!

This QuickBooks course is for beginners who want to learn how to use a business accounting system. QuickBooks is currently used by 85% of small businesses. In this class you will learn; how to get started, everyday transactions, special transactions, tips & tricks, basic accounting, and how to send your QuickBooks File to your Accountant. (A detailed agenda will be provided upon course enrollment)

Upon course completion you will receive a certificate & complimentary copy of QuickBooks Quick Start

When: Wednesday, November 4th, 2009 From 9:00 AM to 5:00 PM

Special Cost: $99.00 per person - Must Register before Friday October 28th!! Normal Price $149.00 per person

All payments must be received on or before Friday October 30th, 2009

Where: The Ramada Inn Located at: 1351 Dogwood Dr, Conyers, GA 30013, (770) 483-3220

Complimentary Catered Lunch Provided By:
The Borage Grill of 914 Commercial Street, Conyers GA 30012 770-929-8885 www.boragegrill.com

Why:
This is for Business Owners who need to learn how to keep their books in user friendly accounting software. In addition, this is for Job Seekers looking for a viable skill to enhance their resume. Also, train Current or New Employees, Bookkeepers and other Accounting Professionals who need learn how to effectively use QuickBooks.

Another SBA Business Recovery Center To Open

2009-10-13T07:02:00.000-04:00

Another SBA Business Recovery Center To Open

ATLANTA--(Business Wire)--

The U.S. Small Business Administration announces today that a Business Recovery
Center in Cobb County is opening Monday, October 12 at 9 a.m. to help businesses
impacted by the severe storms and flooding in Georgia that began on September
18, 2009. The Cobb County Center will be located in the Powder Springs Library
at 4181 Atlanta Street, Powder Springs, GA 30127. The hours of operation are
from 9 a.m. to 5 p.m. Monday through Friday until further notice.

QuickBooks Courts the Mac Crowd

2009-10-12T09:42:00.000-04:00

QuickBooks Courts the Mac Crowd

By John P. Mello Jr.
MacNewsWorld
10/12/09 4:00 AM PT

With QuickBooks 2010, Intuit has focused on user feedback to boost the business accounting software's popularity among Mac users. For one thing, Intuit has drastically scaled back the setup needed to start using the software. A process that used to involve answering questions on as many as 100 screens has been shaved down to two.

Businesses, schools struggle from effects of flood

2009-10-09T19:05:00.000-04:00

Businesses, schools struggle from effects of flood

From the outside, it seemed Leanne Lee’s Douglasville salon escaped the 2009 flood unscathed.

Inside, her cash register tells a different story.

Six Ways to Deal With Small-Business Stress

2009-10-09T08:54:00.000-04:00

www.1stunitedbusinessadvisors.com

Six Ways to Deal With Small-Business Stress

By Jay Goltz

Even though there are signs that the economy may be starting to turn around, this has been and continues to be a stressful year for most business owners. I often think stress should be spelled $tre$$. I cannot think of many jobs that pay a good amount of money that don’t also offer a good amount of stress. The interesting thing about entrepreneurship is that you can encounter stress either because you are busy and growing and making money — or because you are not. After many years of ups and downs, I have some tips on how to deal with stress in productive ways:

Review of Quickbooks Premier

2009-10-08T20:05:00.000-04:00

Review of Quickbooks Premier

by Kathy Yakal

Even before the economy went south, small business people were looking for more in their accounting software than an automated way to crunch numbers. Intuit was up to the challenge. QuickBooks Premier 2010 is the top-of-the-line QuickBooks version for small business (QuickBooks Enterprise, the very tip top of the line, is designed for more complex companies). It builds on the software's intuitive, robust core, answering business needs like saving money and time and how to build on earnings.

Should I clear current debt before pursuing a business venture?

2009-10-08T11:54:00.000-04:00

Should I clear current debt before pursuing a business venture?

I have an idea and location for a small business. There is no such business in this neighborhood, but I'm also currently in debt.

Answer by Ryan Himmel
The answer depends on the type of debt you are talking about.

Quickbooks 2010 Preview

2009-10-07T08:32:00.000-04:00

Quickbooks 2010 Preview

This week, Intuit announced that it will be releasing the 2010 versions of Quickbooks Pro and Quickbooks Premier to users on Oct. 7.

So what’s new for Quickbooks users in 2010? Intuit says it has streamlined the install process from 15 screens to only six for small businesses with simple accounting needs. You will be able to edit multiple items in the lists of items/customers/vendors at one time in a spreadsheet-style screen, and data can be pasted into those lists from Excel. There are new form templates, and more form customization options, including decorative backgrounds. For more advanced customization, there is integrated access to design services. Quickbooks 2010 users will also have the ability to put their signature on their checks directly within the program without printing them.

New version of Quickbooks brings updated features

2009-10-06T10:03:00.000-04:00

www.1stunitedbusinessadvisors.com

New version of Quickbooks brings updated features

Published October 2009

Oct. 6, 2009 -- Today's release of Quickbooks 2010 brings a suite of new features, including the ability to handle invoicing through email and the inclusion of multi-currency in the regular version of Quickbooks Pro.

SBA Disaster Assistance Available to Private Non-Profit Organizations in Georgia

2009-10-02T21:14:00.000-04:00

SBA Disaster Assistance Available to Private Non-Profit Organizations in Georgia

ATLANTA--(BUSINESS WIRE)--The U.S. Small Business Administration announces certain Private Non-Profit Organizations (PNPs) that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans. These loans are available following a Presidential Disaster Declaration for Public Assistance resulting from damages caused by severe storms and flooding that began on September 18, 2009.

Small business ARC loans pick up, but frustrations remain

2009-10-01T06:01:00.000-04:00

Small business ARC loans pick up, but frustrations remain

NEW YORK (CNNMoney.com) -- A government effort to get badly needed cash into the hands of struggling small business owners is slowly gaining momentum, but entrepreneurs seeking the scarce loans are still in for a frustrating ride.

Dubbed "America's Recovery Capital" (ARC) and created as part of the stimulus package, the program offers short-term, zero-interest loans to qualifying small businesses hurt by the recession. Since launching in early June, the ARC loan program has backed 2,715 loans totaling just over $88 million, with an average loan size of $32,425, according to the latest data from the Small Business Administration.

The Emotional Rollercoaster of Business Ownership: Some Days and Then One

2009-09-30T07:57:00.000-04:00

The Emotional Rollercoaster of Business Ownership: Some Days and Then One
Day

To all my entrepreneurs

Some days you feel like conquering the world.

Some days you feel like giving up and you ask yourself why

Some days you feel like just maybe your dreams will come true

Some days you like if I do give up I will be in more debt than I could
imagine

The One day that client or customer comes in and does business with you

The next day you wake up with hope

Then day after you get a bill so high you need a liquid lunch break at 11 am

Then all over again you feel like someday, then when another client/customer
comes in it feels like one day

IRS Fines Atlanta for Late Payments

2009-09-29T07:52:00.000-04:00

IRS Fines Atlanta for Late Payments

Edited By: Leigha Baugham myfoxatlanta.com

ATLANTA (MyFOX ATLANTA) - The city of Atlanta has been slapped with a heavy fine. The sanction comes from the IRS and taxpayers will be left footing the bill.

Atlanta's CFO confirmed that the IRS imposed a levy on the city that includes late payment penalties in excess of $1.4 million because city staffers repeatedly failed to pay payroll taxes on time.

www.1stunitedbusinessadvisors.com

Small clients (ac)count on CPAs as counselors

2009-09-28T07:41:00.000-04:00

http://www.1stunitedbusinessadvisors.com/

Small clients (ac)count on CPAs as counselors

By Hilary Potkewitz

Michele Harris' first phone call when she had good news or needed advice about running her eight-year-old marketing business used to be to her father, a retired auto supply executive.

"Accountants are reassuming the position of business coach, financial adviser, mentor and therapist, in addition to record-keeper. This marks a return to the traditional role that accountants held before business services became so specialized."

Facts and Figures

2009-09-24T10:07:00.000-04:00

From 1stunitedbusinessadvisors.com:

*FSA Expenses�As a general rule, you can deduct medical expenses relating to your care and well-being to the extent the annual expenses exceed 7.5% of your adjusted gross income. The same expenses generally may be reimbursed through a flexible spending arrangement (FSA). However, in a new ruling, the IRS said that an FSA could not reimburse the cost of a breast pump. Reason: While breast pumps are helpful, they do not treat or mitigate a medical condition.

*Supply and Demand�Don�t be shortsighted in your treatment of small company suppliers and vendors. For example, using (or not using) a discount may cost you a little now, but save you lots later on. In the worst-case scenario, a key supplier might be driven out of business, forcing you to deal with a larger company with inflexible prices. That�s not to say you should not negotiate a fair price with your current suppliers and vendors, but keep the big picture in view.

New Law Generates Energy Tax Breaks

2009-09-23T09:14:00.000-04:00

From: 1stunitedbusinessadvisors.com

The new economic stimulus law enacted earlier this year�the American Recovery and Reinvestment Act of 2009provides tax incentives for saving energy both at home and at work. Here is a brief overview of the key tax rules in this area.

Tax breaks for homeowners: The new law triples the residential energy credit from 10% to 30% for qualified expenses after 2008 and before 2011. The list of qualified expenses includes:

*insulation materials;
*exterior windows (including skylights);
*exterior doors;
*central air conditioners;
*natural gas, propane and oil water heaters, or furnaces;
*hot water boilers;
*electric heat pump water heaters;
*certain roofs and stoves; and
*advanced main air-circulating fans.

In addition, the lifetime $500 dollar cap has been eliminated. Instead, the new law imposes a limit of $1,500 for 2009 and 2010 combined. The dollar caps for solar hot water property, geothermal heat pumps and wind energy property installed by homeowners are also removed. However, a $500 cap remains for qualified fuel cell property costs.

Note that the new law also enhances the credit for plug-in electrical vehicles purchased after 2009. The base amount of the credit for qualified plug-in vehicles will be $2,500 (subject to a phaseout once a manufacturer sells 200,000 units). Note: Plug-in vehicles are not in the commercial marketplace yet.

Tax breaks for business owners: If you own a business building, you may be able to claim a tax deduction equal to $1.80 per square foot for energy systems placed in service after 2005 and before 2014. Alternatively, a partial deduction of up to $.60 per square foot may be available.

To qualify for this deduction, the following four conditions must be met:

1. The property must be installed as part of the interior lighting systems; the heating, cooling, ventilation or hot air systems; or the building envelope.

2. The property must otherwise be depreciable or amortizable.

3. The property must be installed on or in a building in the United States that meets Standard 90.1-2001 of the American Society of Heating, Refrigerating and Air Conditioning Engineers (ASHRAE).

4. The property must be certified as a part of an overall plan designed to reduce the total annual energy and power costs by 50% or more in comparison to a reference building meeting the minimum requirements of ASHRAE Standard 90.1-2001.

The new law also enhances the energy tax benefits for certain business owners. Among other changes, it increases the credit for commercial refueling stations for alternative fuel vehicles from 30% to 50%. It also raises the cap on the credit to $50,000 for property placed in service in 2009 and 2010. The previous limit was only $30,000. Finally, the new law extends the credit for electricity produced from renewable sources through 2013 (2012 for wind facilities).

This is just the tip of the iceberg. More details about energy tax breaks are available upon request.

Are You Starting a Business Late in Life?

2009-09-22T12:39:00.000-04:00

For most people, retirement means a life of relaxation, travel or pursuit of hobbies. But for others, it is a chance to realize a lifelong dream: to start up their own business. The business might be an extension of a hobby or a new enterprise based on your field of expertise.

However, if you have harbored a desire to be an entrepreneur, don't go into the new business undertaking with your eyes closed. The rewards may be many, but so are the obstacles. Keeping that in mind, here are several suggestions for starting out:

*Consider all the ramifications of starting a business. Common scenario: Panic overtakes you the first few weeks you are away from the job. It may take a while to settle into a comfortable routine. Explore any business possibilities carefully; do not leap at the first opportunity that comes along.

*Make smart retirement plan decisions. This is a complex process that requires professional assistance. For instance, you may want to use part of the distribution from a company retirement plan as �seed money� for your new business. As the business grows, you might set up a retirement plan for yourself and any other employees.

*Delegate payroll responsibilities. Many late-starting entrepreneurs do not want to be bothered with the hassle�not to mention the potential liabilities�of handling a payroll, withholding taxes and filing tax forms. If you do not have expertise in this area, consider the use of a reputable professional or payroll service.

*Weigh the impact on Social Security benefits. A retiree under age 66 (the current full retirement age) may earn up to $14,160 in 2009 without losing any Social Security benefits. However, if you exceed this limit, you must forfeit $1 of benefit for every $2 received. The earnings limit is $37,680 for those who turn 66 this year. In that case, you lose $1 of benefit for every $3 earned. In some cases, it may pay for you to delay the start of a new business until you reach full retirement age.

*Protect your business assets. For instance, you might make provisions to continue the business if you should die or become disabled. One way to do this is to set up a buy�sell agreement with a junior partner that is funded with life insurance. The insurance proceeds can be used to buy the business from your heirs.

*Trust your business to a trust. Consider using a trust to preserve the privacy and continuity of the business. The trust may be funded with corporate or other business assets. In addition, a trust may be used as a vehicle for saving federal estate taxes. See a professional tax adviser for more details.

*Plan ahead. The best time to get started is actually before you retire from your regular job. For example, it may be beneficial to set up an office in your home while you are still employed on a full-time or part-time basis. Spend some time each week in the office planning the enterprise, organizing files, collecting lists of contacts and so on. For tax purposes, be sure to keep track of any expenditures related to the business.

In summary: There still may be time to realize your dream of owning your own business if you are at or nearing retirement. But proceed with caution.

2009-09-21T09:05:00.001-04:00

Bookkeeping is 30% Skill 70% Discipline

Ok everyone here is the deal; bookkeeping for a small business is 30%
skill, and 70% discipline. Bookkeeping skills requires you to
understand and to follow accounting rules and procedures. A Bookkeeper
is then required to transform financial data into financial reports you
can use to make management decisions.

With that being said; whether you use the latest accounting software or
pay your accountant top dollar you will still need to apply discipline.
Discipline in organizing your financial data for your monthly
bookkeeping.

As I surf the net, I see all of the sexy computer applications and cell
phone gadgets that are marketed with promises of streamlining life’s
daily tasks. Like most people I used to buy several hundred dollars
worth of this stuff. Thinking, it will make my life easier, more
efficient and organized.

However when it was delivered, I gave up after reading the instructions.
Here lies in the basement graveyard another box with a gadget collecting
dust. I have so much unused software and gadgets I can out sell
Microsoft in a garage sale any day.

One day, I read an article "From Zen to Done" and David Allen’s
“Getting Things Done”. I wish I can say this changed my life. It
didn’t; the change needed was something I had to do internally.

And it happened, one day while I was watching an infomercial in the middle of the
night. You know the GT Xpress, the little old lady and the cooking system.
You can make pizza, corn dogs and cake all in one. While placing the
order, I convinced myself of how it would make my life easier. I
played over in my head of how can cook more nutritious meals during the
week for my family, recycle leftovers, and make a cake. Upon delivery
and the first meal, I realized I still had to plan a menu, shop, and
prepare the meal for the cooking system. The only thing this system did
was cut down on the amount of pots to clean and the time it took to cook
certain foods.

Like cooking, bookkeeping is 70% discipline. You still need to gather
and prepare on a consistent basis in order to reach a desired outcome. I
challenge you to keep your receipts for 30 days for every single
transaction no matter how big or small. You can put them in a shoe
box, trash bag or a folder; I don’t care, just keep your receipts.
Then at the end of the month I challenge you to put all of your check
stubs, bank/credit card statements, and any other financial documents in
the same box. And when you are done give them to your Bookkeeper,
Accountant, or CPA. By doing this you can reduce your accounting fees
at the end of the year. Not to mention having a clearer final picture,
and being in a position to make sound financial decisions.

2009-09-20T10:36:00.001-04:00

Facts and Figures
*FSA Expenses�As a general rule, you can deduct medical expenses relating to your care and well-being to the extent the annual expenses exceed 7.5% of your adjusted gross income. The same expenses generally may be reimbursed through a flexible spending arrangement (FSA). However, in a new ruling, the IRS said that an FSA could not reimburse the cost of a breast pump. Reason: While breast pumps are helpful, they do not treat or mitigate a medical condition.

*Supply and Demand�Don�t be shortsighted in your treatment of small company suppliers and vendors. For example, using (or not using) a discount may cost you a little now, but save you lots later on. In the worst-case scenario, a key supplier might be driven out of business, forcing you to deal with a larger company with inflexible prices. That�s not to say you should not negotiate a fair price with your current suppliers and vendors, but keep the big picture in view.

2009-09-19T09:29:00.001-04:00

Audit Info in New Data Book

The new IRS Data Book for the government�s 2008 fiscal year includes lots of tax return information. For instance, the Data Book shows that almost 1.4 million individual tax returns were audited out of 137.8 million returns filed in 2007, for an audit rate of 1.0%. While 22.3% of the audits were conducted by IRS personnel, 77.7% of the audits were correspondence audits.

The audit rate for individuals whose returns showed a total positive income (TPI) between $200,000 and $1 million rose to 2.6%.

One surprise: The audit rate in fiscal year 2008 for those with a TPI above $1 million declined from 9.3% to 5.6%. The IRS attributed this, in part, to activities related to sending out economic stimulus checks.

2009-09-18T17:56:00.001-04:00

Check out my people before pennies program.

When Doing It Yourself Goes To Far

2009-09-18T07:54:00.000-04:00

In a recession most people are finding more ways to cut costs. Instead of hiring a landscaper to cut your grass, you pull the lawn mower out of the shed and say "I will do it myself". The typical landscaper can charge $40 per cut, well at least mines does. Wow, I will save $80 per month and $960 per year.

Next, I decided that instead of taking my pet to the groomers once a month I said, "I will do it myself". How hard can it be to wash my dog? First, I'll shave him, wash him, dry him, and I'll even brush his teeth. Heck, I will even paint his nails. Great, that will save me $50 per month, and $600 per year.

Hey, I am on a roll! What else can I do myself to save money? Oh yeah, I can even wash my own car. Forget paying for a $3.00 car wash and a $1.25 for the vacuum at the gas station. Not only can I wash my own car, I can detail it. I will save $8.50 per month and $102 per year.

Now here comes the real test. I am pretty smart. So how hard can it be; on Monday I don't feel so well, on Friday while cutting the grass I pull a muscle, on Saturday I spend the entire day chasing my dog around the yard to groom him, which neither he nor my husband appreciate me using the electric shaver on the dogs private parts.

However, the only damage incurred was major fatigue. I can live with that because look how much money I saved. On Sunday I spent the rest of the day cleaning and detailing my car. The family chipped in, but after 15 minutes the kids tried to kill each other and after 45 minutes my husband went into the house to watch the game. Wow, who cares, right? Because I am doing it myself. Not only did I save, I have the body pain, fatigue and cold symptoms to prove it.

As I am sitting at my computer asleep with my eyes open at work, the light bulb goes off in my head, I can fix this. Instead of going to the doctor I can go online and self diagnose my symptoms. What the heck!!! The website says I have H1N1 swine flu. I leave work to go straight to the doctor’s office; the bill is $160 and $50 for the prescription. Thank goodness for that great prescription plan. I was correctly diagnosed with a 24 hour stomach virus.

Oh yeah, I lost $400 for a day’s worth of work for going home early. Now when I get home I am still public enemy number one. My daughter is still mad from Friday; I was late picking her up due to cutting the grass. My son is upset I missed his game on Saturday, because I was cleaning with the dog. He scored his first touchdown. As far as my husband and the dog, both took a vow of silence because of the clippers situation. He said the dog felt violated and tonight is Monday night football. Don't even try it.

I saved $94.25 but I loss $610, and everyone is giving me the silent treatment. I say this to say we sometimes fail to evaluate when doing it yourself how much we can lose. At the time it sounds great, but I want to remind you savings, budgeting and cash management should be proactive not reactive.

Each year my firm sees the same type of clients. The couple who did their own taxes, but because they did not understand tax law they claimed credits they did not qualify for. Now they are receiving less than welcoming letters from the IRS. Or even the small business owner who vows to do his own bookkeeping, but gives up after March. He is either too tired, too busy, or he couldn't understand the QuickBooks program. Last, my favorite encounter is the client who wants to cut costs. He switches his long distance, prints proposals on the backside of used paper. Then he lays off his loyal employee of ten years to outsource her job to India.

In the end, I beg you to ponder how much did they all really save? The same do it yourself couple now has to pay back taxes, penalties to the IRS, and our firm fees. As far as the small business owner he did not know how extensive bookkeeping can be, he ended up paying for one years of bookkeeping’s in a lump sum. The first three months were wrong and we had to start from scratch. Last but not least, the client that laid off his loyal worker. He soon realized that not only did she do her job, but she kept the clients happy, and went above and beyond the call of duty. She was trained in every facet of his business; even in areas he was not.

Like anything in life, everything you do needs to be thought out and done in moderation. Also, learn to respect the specialist he/she is a professional, there is a reason why they have the credentials. Furthermore, don’t be afraid of looking at future cost. Remember: Today’s savings can be Tomorrow’s liability.

1st United Business Advisors believes in People before Pennies. Staring at $5.75 per day, $40.00 week or $175.00 per month, you can have peace of mind; so you can work on your business and not in your business.

Why Bookkeeping Bistro?

2009-06-19T19:28:00.000-04:00

We go the extra mile to educate and communicate to our readers our responses to their questions regarding Bookkeeping, Accounting, Financial Management,QuickBooks, and Taxes. By doing this they will be enabled to make sound financial decisions.

"Success is a journey, not a destination." Ben Sweetland