Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of thinking and doing business. Internal control helps to…
Optimize your marketing spend to get the most for your money. One of the most important success factors of small businesses is the ability to generate revenue, and to do that, most businesses need to market their services and products to bring in new clients and sales. The challenge for a small business…
Do you know how long you are supposed to keep documents? Do you know when it’s safe to shred? Having this knowledge is the first step to good recordkeeping. By following these guidelines, you can keep your documents and files organized and updated. Avoid keeping things you don’t need – or discarding something you should…
The 10 Biggest Cracks in Your Accounting System The last thing most entrepreneurs want is for their hard-earned dollars to go down the drain because of a money leak in their business. Since so many entrepreneurs are working harder than ever before earning their living, it just makes sense to shore up every profit leak…
The world we live in today has made owning a business much different. You need to be much more aware of everything that is going on around you so that you can create an atmosphere that is best for your customers, your employees, and you as the business owner. Finding better ways so that you…
Emil Abedian, CPA discusses the 2018 tax policy changes and how it affects homeownership with Scott Groves and Justin Bayle of LendLA. If you have any questions about your mortgage, please contact Scott Groves – Scott@LendLA.com or Justin Bayle – Justin@LendLA.com (800-450-2010 ext 5562).
You know that the growth of your business is a critical component for you if you want to succeed. It only makes sense that you want to do all you can so you can see your business make better connections with clients and customers so you can improve your profits. As important as it is…
New tax legislation, which President Trump will likely be signing into law in the coming days, eliminates the 20 percent pass-through income deduction for what the law refers to as a “specified service trade or business.” These specified service providers include accountants, lawyers, health professionals, as well as other trades or businesses where the principal…
2017 is coming to a close with sweeping new tax legislation on the horizon. While the changes don’t take effect until 2018 (with one minor exception), I want to alert you to some steps you might take before year-end to preserve the best possible tax results. As you explore these ideas, mostly you will find…
S Corporation shareholders enjoy limited personal liability and a beneficial pass-through structure; income and losses pass through the corporation and to the owner’s personal tax returns. With this tax structure, shareholder distributions from an S corporation aren’t treated as self-employment income, hereby avoiding the high self-employment tax rate on their share of the income. This…
