Author Archives: bfcadmin

The One Question to Ask Each Day

As a business owner, you’re likely torn in a hundred different directions every day. It can take up most of the work day just fighting fires, serving your customers, and answering employee’s questions. It’s super-easy to lose sight of what you can be doing to move your business forward the most. That’s when “the one […]

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Do You Have a Revenue Plan for 2015?

A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. There are various fancy software apps you can use, but typically a simple Excel spreadsheet is all you need. Start by listing all of your products […]

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Planning for a Fabulous 2015

The holiday month of December brings celebration as well as reflection for all the events that occurred in 2014. It also gives us great hope for a new fabulous start in 2015. Here are three ideas to start 2015 with a bang. 1. Find a focus for the year. Instead of getting into the rut […]

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How Sales Tax May Impact Your Business

I recently wrote an article for the NJ CPA Magazine about sales tax and e-commerce.  State sales tax is a very complex topic since most companies are doing business across state lines or online at this time.  It is important that all businesses understand whether they are selling a product (physical or digital), service, or […]

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Rules & Tools for Keeping Business Records

Rules Good business record keeping includes retaining documentation to support your business expenses.   Per the IRS, documentary evidence includes receipts, cancelled checks, or bills. In general, you must have documentary evidence to support all business expenses in the event of an audit. The exceptions to this rule are for the following: Your expense, other than […]

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Points on Cyber Security from a CPA Convention

The concepts around cyber security have always seemed so complex to me and often make me feel like we are in a no win situation.  It is usually presented in a way that is unnerving and I walk away not sure where to begin.  At a recent CPA convention, there was a cyber security expert […]

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Create a Theme for a Prosperous and Meaningful New Year

It’s almost 2014, and at this time of year, it’s natural for us to pause and reflect on where we’ve been and where we want to go. For business owners, it’s especially important to raise our minds above the daily fires for a moment, take in some fresh air, and elevate our perspective. Creating an […]

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Year End Tax Planning Strategies for Small Businesses

As we get closer to year end, we are starting to get a much better picture of your 2013 business income.  For those of you in a profit position, with some cash flow to play with, there are a few key tax planning strategies you should consider: Defer Income to 2014 If it makes more […]

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New Features in Xero That I Really Like

One of the many benefits of cloud accounting software is the ability for the software vendor to quickly roll out new releases and we don’t have to do anything.   The hard part is keeping up as a user.  Over the past year or so, Xero has rolled out many new enhancements that you may […]

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Optimize Your Revenue Mix for More Profits in 2014

Many small business owners focus on generating more revenue every year, and that’s a great objective.  But not all revenue is created equally.  If you sell more than one product or service in your business, then you can benefit from looking at your revenue mix.    Although it’s fun to watch our revenues grow, it’s […]

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