Tag: QuickBooks Consultant

Ideas to Improve Profit

Ideas to Improve Profit

Consider the following ideas for saving time and money and making your business more profitable. 1. Develop tight controls over billing and collections. To speed up cash flow, reduce the time between shipping your product and sending an invoice. Consider semimonthly instead of monthly billing, and send second notices more quickly. 2. Collect past-due receivables. Almost every business has past-due…

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Your 2019 Social Security benefits recap

Your 2019 Social Security benefits recap

The Social Security Administration (SSA) made a 2.8 percent increase to monthly Social Security and Supplemental Security Income (SSI) benefits for 2019. Take a look at some of the most significant changes as you create and update your financial plan for 2019: 2019 Social Security benefit highlights Up to $132,900 in wages will be subject to Social Security taxes (up…

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2018 Executive of the Year

2018 Executive of the Year

We are delighted to announce that our own L. Scott Elwell has been recognized as a “2018 Executive of the Year” by South Jersey Biz. Scott has been ranked one of twenty-two leaders who excel in shaping the future of business in South Jersey. This achievement is such an honor and our team couldn’t be more proud! Congratulations, Scott! Below…

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2018 Tax Highlights – What You Need to Know

2018 Tax Highlights – What You Need to Know

2018 is filled with more dramatic tax changes than we’ve faced in over 20 years! Here’s a quick video that goes through the highlights and remember, you can always reach out to use to schedule a meeting if you want to go over these changes and how they affect you and your business specifically. Business Accounting Systems, P.C.: Client Videos

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Schooling Your Children on Money Matters

Schooling Your Children on Money Matters

Teaching your child about money and finances is easiest when you start early. Here’s a quick review of what you should teach your children at each age if you want them to become financially competent adults: Preschool Identify coins and bills, and learn what each is worth. Understand that you can’t buy everything (choices are necessary). Save money in a…

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Business Owners: Do You Have a Succession Plan?

Business Owners: Do You Have a Succession Plan?

Succession planning is very important for business owners, especially those with a family-owned business. Before you sit down with your tax and legal advisors to draw up a succession plan, you should think through three important issues: Who: The question of who will succeed you in the business can be the toughest of all. Most owners want to pass the…

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Make sure you’ve got a plan for your RMDs

Make sure you’ve got a plan for your RMDs

After all the advice you’ve received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach 70½, the required minimum distribution (RMD) rules say you have to do just that. Under these rules, you must withdraw at least a minimum amount from your retirement plans each year.…

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Your child wants to start a business. Now what?

Your child wants to start a business. Now what?

Has your child asked for your help with starting a business? If the answer’s yes, chances are you may not know where to start. Since the failure rate for new businesses is high, it would be supportive for you to do whatever you can to increase your child’s chances of success. That includes considering the following: Find out what groundwork…

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