Want more money? Simple. Make more in sales revenue and spend less in expenses. The smart business owner today knows you need both – more revenue and contained expenses – to make your business work both in the long-term and short-term. But there can be a real danger here. The danger is focusing on the [...]
A leading indicator is something you can use to predict what’s going to happen in your business. For example, if you have a business that sells pencils to school kids and another school is getting built to serve an increasing population, you will have a potential at a bigger market. Please note that these aren’t [...]
There are two secret weapons that business owners and investors have: Tax laws. Timing. In these days of rising tax rates, decreasing exemptions and future surtaxes, it’s hard to believe that there are ANY tax laws for business owners. But that’s where this gets interesting. The tax increases are for individuals, not businesses. Businesses continue [...]
You have a choice when you set up your bookkeeping. Well, you actually have a lot of choices, but this is one you might not think much about and yet it could cost you a lot of money down the road to change. The choice is how you will keep your books. You also have [...]
A virtual bookkeeper is someone who assembles your records, prepares financial statements, handles payroll – everything you expect your regular bookkeeper to do, but they do it a little differently. A virtual bookkeeper does all that a bookkeeper who shows up your office, but from his or her own office. Some of the benefits of [...]
The victim: Koss Corporation, Milwaukee, Wisconsin. The Perpetrator: Sujata “Sue” Sachdeva On January 20, 2010, a grand jury in Milwaukee indicted Sujata “Sue” Sachdeva on six counts of wire fraud for allegedly embezzling $31.5 million from Koss Corporation, a phone manufacturer where she had been employed as Vice President of Finance, Principal Accounting Officer and [...]
Ever so often, I have to jump on a soap box. This is one of those times. I think there is a huge issue in our country today when it comes to financial education. Most people don’t understand the difference between an asset and a liability or how expensive credit card debt really is. I [...]
