Archive for November, 2010
Simplified Business Cell Phone Deduction Rules
Posted by brumley in Business, Deductions, Tax on November 29, 2010
No longer considered a luxury item, cell phones and other mobile communication devices are now part of daily business practices at all levels, and the deduction limitations and documentation requirements no longer make sense
Understanding your business financial statements
Posted by brumley in Accounting, Business on November 28, 2010
Financial statement forms are an important source of information about your business’ performance. Of course, you have to know how to read them and many small business owners are scared of this topic. But if you will continue to read this article, you will find out that reading financial statements isn’t as hard as it seems.
Manage cash flow in your business
Even profitable businesses can fail when they run out of cash. Cash is the oxygen of a business. When it runs out, death can come quick and sudden, even to a healthy body.
Who should pay for your child’s college education?
Posted by brumley in Education Funding, Personal Finance on November 26, 2010
Should you pay for your child’s college education? Or should your child find the financing? It depends on who you ask.
What you should know about debt collectors
Posted by brumley in Budgeting, Personal Finance on November 26, 2010
With the economy still climbing out of recession and unemployment hovering near 9%, a lot of folks are behind on their payments. They owe money to banks for auto loans, hospitals for medical bills, and credit card issuers for everything from electronics to clothing to home appliances. This mountain of unpaid debt has provided a [...]
Tax strategies investors should consider at year-end
Posted by brumley in Investments on November 22, 2010
As year-end approaches, take a closer look at your investment portfolio. There may be some tax-saving strategies worth considering. For example — Wash sales. Thinking of selling a security before December 31 to take advantage of a capital loss? To make sure the loss is deductible, refrain from buying a substantially identical security during the [...]
New business law includes major tax breaks
Posted by brumley in Business, Deductions, Tax on November 22, 2010
It’s just in time for year-end tax planning: the Small Business Jobs Act, a new law that extends some federal tax breaks and enhances others. Here’s an overview of selected provisions: Section 179. You can immediately write off up to $500,000 of assets (including computer software) that you buy for your business. The phase-out threshold [...]
Having Trouble Making your House Payment?
Posted by brumley in Personal Finance on November 18, 2010
There are two government programs that can help. One is called HARP (Home Affordable Refinance Program), the other called HAMP (Home Affordable Modification Program). Interest rates are at an historic low, but many homeowners find they cannot refinance because the value of their home has dropped to low and they don’t meet the equity requirements. [...]
Blekko. Is this new search engine better than Google?
Posted by brumley in General, Technology on November 13, 2010
Did you think the search engine wars had come down to a fight between Google and Bing? Think again. The new contestant, Blekko, is stepping into the ring. It offers a new feature to “slash the web” and filter your search results. Blekko isn’t a Google-killer. Nor is Blekko proporting to be. But Blekko’s “slashtags” [...]
Pay yourself reasonable salary
What rule do you follow if there are no rules to follow? As the owner of an S corporation trying to determine a reasonable salary to pay yourself, the question is important – and difficult to answer. The reason: At present, there are no specific regulations, safe-harbor provisions, or minimum wage requirements defining what amount [...]
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T Scott Brumley CPA
With more than thirty years experience in accounting, tax, finance, auditing, technology and business management, T Scott Brumley, CPA rolls up his sleeves and works with his clients to solve their complex business problems.
