Business Finance

Originally published November 11, 2013 “Necessity is not an established fact, but an interpretation” – Friedrich Nietzsche I love my job. As dry as accounting seems, I find it fascinating. You get insight into a business’s operations and finances – truly the core of what is going on. People open up to you on things they […]

Originally published September 23, 2013: Okay, maybe it’s not a tax deadline in the strictest sense of the word, although there are some important cut-off dates coming up as early as October 1 (more on that in a minute). However, let’s step back for a moment here and look and the important “bigger picture.” Once the year is […]

Originally published August 26, 2013 Small business owners have always been subject to greater IRS scrutiny than other taxpayers. The lack of reported, irrefutable documentation combined with business owners’ tendency to be slightly…“liberal” with what they report makes the IRS more likely to take a second look at their returns. This is nothing new. What is new […]

Originally published August 20, 2013 “Debt is the slavery of the free.” – Publilius Syrus I’m a firm believer that every business can benefit from a certain amount of debt. Borrowing fuels growth, can get you through lean months, and actually increases some measures of profitability Too much of a good thing, of course, leads to […]

Originally published August 6, 2013 Ted: What if I don’t think of the books? Robin: Excuse me? Ted: There’s this famous architecture story about this architect who designed this library. It was perfect. But every year, the whole thing would sink a couple inches into the ground. Eventually the building was condemned. …He forgot to account for the […]

2025 Update: while all of the information in this article is still valid, we have done a much more in-depth discussion of the issue that can be found here. Most businesses eventually choose to incorporate in some form or fashion. This can have a number of benefits, both from a legal and a tax standpoint. […]