Over the years, I have heard the frustration of many of my clients and friends. Most of them are not happy on their jobs. They feel overworked and underpaid. Others feel they are not appreciated or are taken for granted. Then you have the business owners who didn’t realize it would be so tough. They quickly learned that running a bakery is a lot different from just baking cakes in your kitchen.
One of the many lessons I have been teaching my daughter in her short life is to learn from the mistakes of others. Because the reality is….you don’t have time to make them all yourself. I have found myself on many occasions sharing with her the many mistakes I’ve made as a teenager, with the hopes of her not having to repeat them. I know I can’t protect her from everything or from ever making a mistake- I’m not naïve. However, I’d like for her to make some “new” mistakes (if that makes sense). Don’t do the same stupid stuff that I did….do some new and improved stupid stuff. LOL
I feel the same is true for business owners. You should study successful people and learn from their mistakes. Pay attention to what is working….and what’s not! This Boot Camp is offering you an opportunity to speed up the learning curve and avoid the many mistakes that I (and many of my clients) have made. Think about it, fewer mistakes, greater success, better cash flow, and consistent profitability sooner vs. later. Does that sound like something you’d be interested in?
What would you do with the time saved by not having to put out business fires day after day? Close your eyes and imagine how different your life could be! You could volunteer more at your favorite charity or your child’s school. Take care of an elderly parent. Read a book on a beach trip during the week.
What would freedom from financial worries mean to you? What would you do with your business profits? Would you fund your children’s college fund or start saving for retirement? The possibilities are endless.
The good news is every day I find myself adding more great stuff to the Boot Camp manual (this thing is going to be HUGE). I am committed to sharing EVERYTHINGI know about starting and running a business (and that’s a lot). So now I extend an invitation to get in where you fit in! No matter the age or stage of your business, you are GUARANTEED to learn something new!
Don’t let another year pass with your saying….. “…one day I’m going to start a business.” One day is not on the calendar. However,October 28 & 29, 2010 are! So do whatever you have to do to be there. Rearrange your vacation days. Borrow the money from your mom. Sell your TV. Crawl across broken glass. Whatever you have to do….DO IT! BECAUSE I GUARANTEE IT WILL BE WORTH IT! IF YOU DON’T THINK SO…..I WILL GIVE YOU YOUR MONEY BACK! NO QUESTIONS ASKED!!!
Keep in mind, the early bird discount will not last forever! Can you really afford to pass up a $500 discount? I don’t think so!!!
Don’t panic…..you have options! The first piece of advice I would give is do not ignore the IRS. Contrary to what many people think, they will work with you. The IRS does not want to take your car, house or seize your bank accounts. They want you to pay your taxes.
Therefore, if you cannot pay, you can make payment arrangements. The IRS will allow you to pay your balance off in monthly installments. As long as you make your monthly payments as scheduled, they will not bother you.
Here’s how it works. You determine how much you will be able to pay each month and what day of the month you’d like your payment to be due. You then submit this information to the IRS and they have the option to approve or deny your installment. However, most installments are approved. Others are slightly altered. If the payment amount you are requesting is too low, they might suggest you pay more. Keep in mind, when requesting an installment agreement, make sure you request a monthly payment you can afford. It is better to pay more than less. If you miss a payment or pay less than your scheduled amount, it forfeits the installment agreement. If that happens, you will have to setup another installment agreement. Although, setting them up is not difficult, they are not free. Each time you have to setup an installment agreement there’s a fee.
You can request an installment agreement online, over the phone or by completing Form 9465 and mailing it in.
I know taxes are not high on the list of most romantic subjects, but when you and your sweetie are thinking about tying the knot you should definitely consider the tax consequences. So, be sure to add tax planning to your wedding to do list.
I have found that many taxpayers do not realize that when you get married, (no matter what date) you are now required to file a married return. I know there are tax preparers out there that will tell you otherwise but I am not one of those. The tax code says a taxpayer’s marital status on the last day of the year determines their filing status for the entire year. Therefore, whether you get married in June or December, you still have to file a married tax return for that tax year. (The same holds true if you get a divorce.) Remember your filing status for tax purposes is determined by your marital status on the last day of the year.
We at By The Book Accounting we do your taxes the legal way. If you want your taxes done “right” give us a call. All others need not apply.
With the uncertainties of the economy, many Americans are finding themselves looking for ways to cut back. Some are driving less to save on gas. Others are cooking more at home to cut down on the expense of eating out. Those are all very good ways to cut back. I’d like to suggest another way to increase what you bring home….or as this post is titled….GIVE YOURSELF A RAISE!
Listen to this 15 minute interview and let me know if you learned something that help you give yourself a raise!
NO! I’ve been getting lots of phone calls and emails from clients, family and friends. Just to clear things up, it’s not taxable. The amount is needed to determine if you are entitled to an additional credit. This is called the Recovery Rebate Credit. Here are some reasons you would qualify for the credit.
If you didn’t receive an economic stimulus payment in 2008
If you received less than the maximum economic stimulus payment in 2008
Families who gained an additional qualifying child in 2008
Individuals who did not have a valid Social Security number in 2007 but who did receive one in 2008
Don’t panic…..you have options! The first piece of advice I would give is do not ignore the IRS. Contrary to what many people think, they will work with you. The IRS does not want to take your car, house or seize your bank accounts. They want you to pay your taxes.