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Economic Bubble – The Great Dutch Tulip Craze

09/20/2013

Universally accepted as the first economic bubble, the Great Dutch Tulip Craze, also known as Tulipmania, of the late 1620’s to February 1637 serves as a reminder to all of us involved in business, that value can be driven by greed and not [...]

The Key Man

08/25/2013

One of the most misunderstood principles of business deals with the one or few individuals in a small business operation who are critical to operations.  This individual is referred to as the Key Man.  The best example is that of the primary wage [...]

Internal Revenue Service – Definition of Revenue

08/22/2013

The Sixteenth Amendment to the Constitution of the United States gives authority to Congress to tax income.  The Internal Revenue Service defines revenue via a term ‘Gross Income’.  In Chapter 26 of the Federal Code (Chapter 26 is the Internal [...]

Throughput – Business Definition and Identification

08/20/2013

When a business can maximize the product or service delivered within a given period of time, it has reached maximum throughput.  This is the basis of maximizing earnings and therefore profits for a company.  This article will examine the [...]

Form 990 – Return of Organization Exempt from Income Tax

07/29/2013

Section 6033 of the Internal Revenue Code requires tax exempt organizations to file an annual report.  Form 990 fulfills this requirement.  Many citizens utilize the information from Form 990 to evaluate the non-profit organization they donate to [...]

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 [...]
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