Tax & Business Insights

“Take this job and shove it I ain’t working here no more My woman done left and took all the reasons I was working for You better not try to stand in my way ‘Cause I’m walkin’ out the door Take this job and shove it I ain’t working here no more” – “Take This […]

2017 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. Take a careful look as quite a few deadlines have changed this year! January 17th: due date to pay 4th quarter estimated taxes. January 31st: Due date to send […]

I am far from an investment expert – and I’ve never tried to be one. I’ve always contended that a financial advisor has a very different skillset than an accountant – and that those who try to be both are rarely good at either. But an image that came across my LinkedIn feed last week […]

“I’ve gone into hundreds of [fortune-teller’s parlors], and have been told thousands of things, but nobody ever told me I was a policewoman getting ready to arrest her.” – NYC detective Small business owners are some of my favorite people. I talk with them every day and they can be truly inspiring. Most of them […]

“He was a tycoon, then a cheapskate Went out looking for a keepsake To tuck into his suitcase on Viceroy’s Row He had a satchel full of cash And dishes full of ashes He went from boom to bust In the blinking of a lash” – “Viceroy’s Row”, Elvis Costello & The Roots For the […]

A few weeks ago I wrote an article about the importance of charging appropriately for the services you render. The article focused on the common phenomenon of “what have you done for me lately?” and the corresponding need to charge properly (since a client’s favor can sometimes be so fleeting). But there is actually an […]

Years ago when I was first starting my business I picked up a client who’d had a series of terrible accountants. How terrible? The first accountant had made some material errors that cost him over $100,000 in tax penalties. The accountant after that seemed better…at least until I looked into prior tax returns. I discovered […]

I have always tried to be a good referral partner. Whenever people bring up that they are looking for someone in a particular field, I almost always have someone I am able to send them to that will do an excellent job for them. But I recently realized that I have been falling short in […]

“ I know you think you understand what you thought I said but I’m not sure you realize that what you heard is not what I meant” – Alan Greenspan I remember being in a meeting a few years ago when the railroad unveiled their new marketing campaign. When everyone saw the commercial along with […]

“Money is an opportunity for happiness, but it is an opportunity that people routinely squander because the things they think will make them happy often don’t”– EW Dunn Graduating from college is one of the most significant life achievements in many people’s lives. Especially in the life of a young person – it very likely […]

With the year already coming to a close, people are likely reflecting on what has happened this year or what they want to happen in the coming year. Whether the past year has been one of disappointment or accomplishment – the calendar resetting to 1/1 makes a lot of us take stock of where we […]

“An extraordinary claim requires extraordinary proof.” – Marcello Truzzi Everyone who is involved in Multi-level Marketing (MLM) will espouse the wealth and wonders it can bring to your life…but somehow those results are not readily visible to the rest of the world as far as the person who is pitching the idea to you. These people […]

“I call it push and pester, or grab and clutch…a guy who has less athletic ability can still block someone. There are some big people that are athletic that are good… But there are guys that aren’t athletic that … are playing.” – Pat Morris, agent for over 100 professional hockey players. In business, when […]

“I try not to kid myself. You know, I don’t mind romancing someone else, but to fool yourself is pretty devastating and dangerous.”  –  Bill Veeck Hermann Göring was by any measure a horrible human being. During the Second World War he was the second in command of the Nazi Party, the architect of much […]

When we think about the idea of a bonus, there is almost invariably a positive connotation to it. Bonus bucks, bonus bites, and if you’re really fortunate a bonus from your employer. They’re a prize – and all for no additional cost. Yippee! Some companies have even made a science of creating the illusion of […]

Paying Off Mortgage Quickly? Not So Fast! “Debt is the slavery of the free.” – Publilius Syrus I used that same quote last year for an article on excessive corporate debt – highlighting how burdensome and crippling excessive debt can become to a business. I did note in the same article that debt can have […]

Do Not “Go to Sleep” This Winter “I wonder if the snow loves the trees and fields, that it kisses them so gently? And then it covers them up snug, you know, with a white quilt; and perhaps it says “Go to sleep, darlings, till the summer comes again.” – Lewis Carroll With winter fast […]

Payroll is kind of the red-headed stepchild of accounting. And that’s really saying something because everyone hates accounting! Even on the payroll section of my own website I talk about how I don’t much care for it. It’s boring, tedious, and seems deceptively simple. In reality, it is very easy to make mistakes and those […]

A couple of years back I stumbled on an interesting song called “Mademoiselle Noir.” The whole premise is the same as Rapunzel, except instead of being viewed as virtuous and lovely, the townspeople think she is evil and fear her. This isn’t the first time a classic story has been retold with a drastically different […]

A little bit past tax season, but just got the audio from my second appearance on Cultivate Your Financial Health with Wayne Firebaugh! On the episode we talk about personal taxes. Discussion of extensions, Schedules A, B, C, D, and E, and other personal tax matters. Check it out! Any accounting, business, or tax advice contained in […]

“No need to worry, my accountant handles that” – The Notorious B.I.G Since I’ve been in practice I have found that a lot of people have the Biggie Smalls viewpoint on money management. This sounds reasonable in theory. Accountants are financial professionals. The clients have confidence in their accountants’ expertise and trust what is being […]

Just a quick reminder that tomorrow (May 31st) is the last day of the Virginia Sales Tax Holiday for “Hurricane and Emergency Preparedness Equipment.” These can include: Ice packs Batteries Flashlights Two-way radios Waterproof sheeting Rope Duct tape Bottled water First aid kits Cell phone chargers Portable generators Chain saws Gas containers Several other items […]

“Sometimes I have a difficulty talking to people who don’t race sailboats.” – Bruno Gianelli That was one of my favorite lines from The West Wing, a show where the dialogue was so good and the characters so unbelievably quick-witted that it made you feel like an idiot. In the scene, President Bartlet was upset […]

“Something for nothing, a bargain, a steal Used cars on credit card, lost another wheel I’d like to get it for free It’s what the price should be I just wanna pay less I just have to confess Quality and value, always wanting more Tip my hat to the taxman, the revenue does pour” – […]