financial statements

KNOW-ing What To Do And How To Do It

On July 19th, 2013, posted in: Accounting, Productivity, Training by 0 Comment

I love giving examples through acronyms because they’re easy to remember. I’d read recently about how business owners can take the lead in their company and be in the KNOW about what makes their own team tick. Whether you’re leading a virtual accounting team like I am or if you’re a small business owner that..

read more

Want to Save Some Big Bucks?

On May 24th, 2013, posted in: Accounting, Breaking News by 0 Comment

Be aware that the Arizona TPT rate will change effective June 1, 2013. On May 31st the temporary tax passed by voters in 2010 will expire. The state rate for Transaction Privilege Tax (commonly called Sales Tax) will decrease to 5.6%. This will affect all retailers in Arizona. This will benefit all consumers in Arizona...

read more

Are You Using the New Form I-9?

On April 5th, 2013, posted in: Accounting, Training by 1 Comment

The Form I-9 is verification of employment eligibility. US Citizenship and Immigration Services released a new version of this form on March 8, 2013. Here’s where you can download a copy of the form: http://www.uscis.gov/files/form/i-9.pdf. The old 8/7/09 version will be accepted only until May 7, 2013.  After that date employers who fail to use..

read more

It Could Happen to You…

On March 29th, 2013, posted in: Accounting, Security by 0 Comment

…Like it Happened to Sarah Sarah was married to a wonderful man, a former CPA, who took care of all things financial. She never had to do anything except write checks to her housekeeper and at the beauty parlor. Her husband managed their extensive investments, paid all the bills, and handled all the taxes. We..

read more

How Do You Share?

On March 27th, 2013, posted in: BIZ-TIP, Security by 0 Comment

I’m not talking about how you share your chocolate or loan out your golf clubs, but something much more important. How do you share your personal, private, confidential information? It’s tax season and we’re all sending information to our CPA that if it fell into the wrong hands could result in identity theft. So how..

read more

The Cost of Clutter

On March 15th, 2013, posted in: Accounting, Productivity by 0 Comment

As a virtual accountant, I’m interested in an aspect of clutter that you might not have thought of: the cost of clutter. National studies show that a typical executive wastes 4 ½ hours a week looking for lost papers. At a salary of $60,000 per year, that is $6,752 of lost productivity. At $100,000 a..

read more

It Could Happen to You, Like…

On March 1st, 2013, posted in: Accounting, Productivity by 0 Comment

…It Happened to Michael! Michael was an advertising and public relations genius. He founded, built, and sold two businesses and was now successfully building his third. A real creative guy, he loved using our Your Virtual Accounting Office service. In fact he helped us create it by asking if when we sent invoices to his..

read more

It Could Happen To You…

On February 1st, 2013, posted in: Accounting by 0 Comment

Like it happened to Debbie… While trying to get a mortgage for her first home, Debbie found out that her credit was bad. So bad, in fact, that she couldn’t qualify for a mortgage! How could this be? She was a well-paid nurse who made a good salary and didn’t spend a lot. How could..

read more

Don’t Be in a Rush to File Your Tax Returns!

On January 18th, 2013, posted in: Accounting by 0 Comment

I’m amazed at how many of our virtual accounting clients are asking us to get everything to their CPA so they can file their tax returns right away! Hold on! Are you sure Congress is done passing laws that will impact last year’s tax returns? I’m not!  Historically Congress has passed laws after the first..

read more

Do You Track Your Mileage?

On January 4th, 2013, posted in: Accounting by 0 Comment

If you’re not tracking your business mileage, you’re missing a valid expense for your business. The IRS has announced that beginning on January 1, 2013, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 56.5 cents per mile for business miles driven 24 cents per mile driven..

read more