Cash Flow - the Pulse of Your Business
By Richard Lipton, CPA
August 11, 2010
Unfortunately, many small business owners do not fully understand their cash flow statement. This is shocking, given that all businesses essentially run on cash, and cash flow is the lifeblood of your business.
Some business exper...
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Don't Panic: What to Know If You Get an IRS Notice
By Richard Lipton, CPA
July 14, 2010
The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices – just in case one shows up in your mailbox.
Don't panic. Many of these lett...
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The Loss Control Imperative
By George Lucas
July 12, 2010
Profitability increases the value of your company and provides the capital you need to invest in growing your operations. It should be your mos...
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Summer Travel Tax Deductions
By Richard Lipton, CPA
June 11, 2010
Since the summer travel season is almost upon us, keep in mind that if your summerti...
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New Tax Benefits for Hiring New Employees
By Richard Lipton, CPA
May 27, 2010
Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part-time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law by President Obama ...
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Small Businesses and Health Care
By Richard Lipton, CPA
May 27, 2010
Many small businesses and tax-exempt organizations that provide health insurance coverage to their employees now qualify for a special tax credit.
Included in the health care reform legislation – the Patient Protection and Af...
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Dealers Take Different Approaches When it Comes to Charity
By Joanne Draus Klein
April 14, 2010
“He who wishes to secure the good of others,” Confucius said, “has already secured his own.”
Such ancient Chinese wisdom has its place in the business world, along with the wealth of wise words spoken throug...
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Detective Work: Forensic Accountants Track Down Clues to Save Your Business
By Denise Koeth
February 9, 2010
The tedious number crunching involved with keeping a tire dealership on track is something most dealers don’t mind passing of...
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Tips to Boost Your Shop's Financial Health
February 9, 2010
Although the economy has begun to shown some signs of improvement, tire dealers and other small business owners know that in order t...
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Get Max Value When You Sell Your Business
By Tom Duke
November 23, 2009
What If you decided to sell your business? How would you do it? How would you price it? What would you do today to protect its value?
...
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Consider Renting a CFO to Save Costs, Increase Profits
By Richard Lipton, CPA
November 11, 2009
As businesses attempt to cut payroll expenses, many have looked to outsourcing the role of a CFO. Whether the company currently has a CFO and wants to cut back or needs to add outside talent to the existing organization, many comp...
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Buy a New Vehicle in 2009 and Save
By Richard Lipton, CPA
August 14, 2009
The Internal Revenue Service and Treasury Department recently announced a tax break for the purchase of new motor vehicles, making now an ideal time to look at updating your shop’s fleet of service or “loaner” vehicles. ...
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Credit Crunch Options
June 1, 2009
Money is tight, and the days
of “easy credit” are gone. But that doesn’t mean a tire dealer can’t get
business credit, capital needed to keep your dealership running.
...
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Creative Cost Cutting
April 1, 2009
1. Look at the less obvious.
For example: how much are you spending monthly on gas? Find out by getting a
gas card and having your staff sign out the card, return the receipts and keep
a mileage log on each company vehicle. ...
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Don't Let Your Cash Flow Freeze
April 1, 2009
Good times or bad, no one
likes collecting on late payments.
But tire dealers need to
proactively protect cash flow in this post-financial meltdown. Every company is
going to hav...
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Telephone and E-mail Orders
April 1, 2009
When handling a telephone or
e-mail order from an unknown customer, take reasonable steps to verify the
identity of the person placing the order.
Ask the cardholder to fax a
cop...
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Top-Six Financial Faux Pas
April 1, 2009
If you haven’t done a
financial gut check lately, here’s your chance. Are you guilty of one or more
of the following most common financial mistakes?
6. Taking on and ...
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Surviving Audits
March 1, 2009
So you did everything you could
to avoid the IRS red flags, and you still somehow managed to get audited? Don’t
fret – you can learn survival skills.
First of all, most...
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Wanted: Accountant
March 1, 2009
Don’t wait until April to
start looking for an accountant! The more time you put into the search, the
better off you’ll be.
And, once you have that
special someone ...
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