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Blog January 2014


5 New Year Tax and Financial Planning

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Adapated from SBA.gov
Created on January 3, 2014
 

Planning ChecklistStart 2014 off right. Here are some actions to take now or in early January that will help you optimize your tax and financial results for the coming year.

1.  Revisit your recordkeeping practices

Records are vital for both business and tax purposes. They help know whether or not you’re profitable and provide key information to help you take business actions, such as adjusting prices, cutting expenses, or raising money.

What’s more, in order to take all the deductions and credits to which your business is entitled in 2014, you’ll need good books and records. Often business owners fail to pay attention to this detail until it’s too late and the IRS is questioning write-offs claimed on a return.

Set up a recordkeeping system that satisfies tax law requirements, and make sure that employees know what to do. Check IRS Publication 583 [pdf] for details on recordkeeping rules for tax purposes. Consider using apps that can help with recordkeeping, such as those for capturing receipts for travel and entertainment expenses. Some may be available for use with, or provided by, your current bookkeeping software or cloud solution.

New Year, New Business...

Blogged By: 
MBDA
Created on January 2, 2014
 

2014 Business ResolutionsLooking for New Year's resolutions for your business. No business, or business owner, is perfect, and there is always room for improvement. In case you missed it, here are 10 top articles on business resolutions to help you grow your business.

10 small-business resolutions for the new year
What could you do to make your small business better in 2014? Let these New Year's Resolutions from small-business owners and managers in the Shreveport, La., area inspire you to get started on a more prosperous 2014.

11 New Year's Resolutions You Can Actually Keep
Because after 2013, well, let's just say we all need more realistic targets this time around. What's the last New Year's resolution you actually kept? If you're better than us and have cut down on your spending, effectively managed stress, or lost ten pounds and actually used that gym membership, than you need not read any further. For the rest of us, we're going to try and make things a bit more manageable.

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