Do You Know The Five Ways to Get More Cash From Your Business?

by Cash Flow Accounting on June 5, 2014

There are five ways to get more cash from your business: Increase Sales, Spend Less, Reduce Accounts Receivable Days, Increase Accounts Payable Days, or Reduce Inventory Days Which is right for you? Well, it depends on what your financial statements say. Increase sales seems like a no brainer solution. In fact, it’s usually the stand-by […]

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Cash in the Bank Does Not Equal Income

by Cash Flow Accounting on June 4, 2014

If you’re just getting started in business, you have a lot of things to do. If you don’t make sales, you don’t have a business. Plus you need to fulfill on those sales or you won’t be in business very long. You’re watching cash to make sure you have enough. Often, the last thing you’re […]

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Sales May Not be the Answer to More Cash Flow

by Cash Flow Accounting on June 3, 2014

Need more cash? The first, gut response, is usually to think about how you can make more sales. In fact, there are a lot of business consultants, especially ones that are really good at selling “how to sell” courses, who will tell you that making more sales is the ONLY thing you can do. That’s […]

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Are You Building a Business or Building a Job?

by Cash Flow Accounting on June 2, 2014

If you have a job, you’re building an asset for someone else. If you have a business, you’re building an asset for yourself. In between, though, is something else. You could actually be building a job for yourself. And, worse than that, you might be creating a job, but instead of having one crazy boss, […]

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How Can You Write Off Your Horse?

by Cash Flow Accounting on February 21, 2014

One of the questions I got in the Deduction Challenge was horse expenses. How can you write off your horse? It may be easier than you think. Here are three different ideas on how to turn your horse expenses into legal tax deductions: Use your horse for charitable causes. Years ago, I had horses and […]

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A Surprising Way to Write Off Your Golf Game

by Cash Flow Accounting on February 20, 2014

I know my friends on Facebook are trying to stump me with their “How do I deduct….” questions. One of the tougher ones is how to write off golf. It’s tricky, but the answer on how to do it is probably not what you might think. First of all, here’s what you can’t do. You […]

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What’s the Best Way to Write Off Your Car?

by Cash Flow Accounting on February 7, 2014

One of the questions we frequently get asked is how to write off a business vehicle. There are a lot of different options. Today, we’re going to talk about 3 of them. You can track the miles you drive your vehicle and then get reimbursed based on the cents per mile. The current mileage rate […]

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Tax Tips for Couples Working in Business Together

by Cash Flow Accounting on February 6, 2014

I’m pretty sure it was a joke when someone submitted “spouse” for the What’s Deductible challenge on Facebook. But then I got to thinking about all the ways you can get big tax advantages if you work with your spouse in business. So, today, let’s look for 3 tax tips for couples working in business […]

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How Can You Deduct the Cost of Restaurants?

by Cash Flow Accounting on February 5, 2014

It doesn’t matter what kind of business you have, chances are you’ve got a legitimate meals expense. One of the questions I received through my Facebook challenge was regarding deductions for restaurants. First of all, you have to have a business purpose. You don’t even necessarily need a business that you own, as long as […]

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How Can You Deduct the Cost of Hair Coloring or a Hair Cut?

by Cash Flow Accounting on February 4, 2014

Ever since I put the challenge out on my Facebook page http://www.facebook.com/DianeKennedyBusinessBuildingTips I’ve gotten flooded with expenses that you want to turn into tax deductions. Today, I’ve got a tough one. The short answer is “No, you can’t take a deduction for hair cuts and coloring.” There were some ways around it until the Tax […]

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