Author: David J Hoare MSA
-
Advertising – Monitor Performance
This article will illustrate tools you can use to monitor performance of various advertising methods.
-
Mission Statement
A mission statement is a written document identifying the businesses’ primary reason for existence. It should convey the core values and the principles of the company. It should be reviewed with staff frequently to remind everyone of the chief goals of the company.
-
Negative Basis in Business – Tax Shelters
Negative basis in business refers to the value of the equity investment in the company. It literally means you have no actual equity investment and worse you owe somebody money because other parties have fronted the necessary capital to make the business viable.
-
Shareholder Dynamics in Small Business
The majority of small businesses are owned by a single individual. An additional pool is family owned or controlled. The balance usually involves friends or relatives that are passive in ownership. These forms of ownership create some interesting shareholder dynamics and if not thought out, can create some legal and financial issues in small business when a…
-
Individual Retirement Accounts (IRA’s) – Basic Rules
The American Benefits Council estimates that about 80% of all American workers have access to an employer sponsored retirement plan. This means that 20% of the workforce has no access to a formal retirement plan. To alleviate this issue, Congress created laws allowing those with earned income access to a retirement via Individual Retirement Accounts or more…
-
Construction Accounting – Balance Sheet Construction in Process Accounts
Construction accounting consists of three major groups of accounts. The first and most understood set are the cost of construction accounts found on the profit and loss statement.
-
Project Accounting Principles for Residential Contractors
Almost every residential contractor I had as a client had no clue of their financial position as it related to any one of their residential contracts. None of them knew whether the project was fully funded, over funded or unfunded at any point in the construction process.
-
Capital Gains – Introduction to Fundamentals
When an individual or business sells an asset, the gain or loss is classified into one of two distinct tax groups – ordinary or capital. The tax classification is strictly tied to the nature of the asset sold. For most businesses, the assets sold are inventory.
-
QuickBooks – Best Accounting Software for Small Business
For small business, there is no software to match the value QuickBooks brings to the business operation. I used Sage software and its predecessor Quantum (Peachtree) for 20 years and still do to this day. But QuickBooks is by far superior in all regards in comparison to Sage products.
-
Carpet Cleaning Service – Margins and Expenses
A very common small business in the service industry is the carpet cleaner. Many owners of such businesses desire to know the margins and of course the associated operating expenses involved.