Recent Articles

June 2013

Passive Income

06/19/2013

Passive income is a form of earning money without materially participating in the activity from which the income is derived.  There are two definitions for the reader to understand.  There is the common business definition and the tax code [...]

Using QuickBooks in Construction Accounting

06/08/2013

Over the last 17 years I have become a fan of QuickBooks over other accounting software.  Having been involved in construction accounting, I have set up over 9 different construction clients on this software.  Overall it is the easiest and one of [...]

Revenue and Sales – What is the Difference?

06/03/2013

Sales are a component of revenue.  Revenue encompasses several sources of income including sales.  Other sources of revenue include interest, trust monies, royalties, and fees.  In effect, revenue includes all sources of income, realized and [...]

Piercing the Corporate Veil

06/01/2013

When shareholders invest into a corporation, there is an expectation of limited losses amounting to the financial investment made.  However, if the company is not properly run, officers, directors and shareholders are exposed to the blade of the [...]