How to Get Paid on Time
By Richard Lipton, CPA
January 16, 2012
With the current economic conditions, the collection of accounts receivables is becoming more and more of a challenge. Strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts rece...
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Customer Refunds: Are You Doing Them Right?
By Richard Lipton, CPA
January 12, 2012
Refunds. You probably wince at the word. Some - like customer refunds for returns - are fairly uncomplicated, thanks to QuickBooks' tools and those on POS systems. Others, not so much. You may find yourself unable to balance your accounts receiv...
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The Three Most Common Budgeting Errors
By Richard Lipton, CPA
November 16, 2011
When it comes to creating a budget, it's essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses, and some tips for avoiding them. ...
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Year-End Tax Planning for Businesses
By Richard Lipton, CPA
November 14, 2011
There are a number of end-of-year tax strategies businesses can use to reduce their tax burden for 2011. Here's the lowdown on some of the best options....
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Getting an Accurate Business Valuation
By Richard Lipton, CPA
September 20, 2011
If you're conscientious about financial reporting, you may already have a sense of your company's worth.
But in some instances you might need a formal business valuation, such as:
• For certain transactions. Selling...
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Credit Reports: What You and Your Customers Need to Know
By Richard Lipton, CPA
August 22, 2011
How do lenders determine who is approved for a credit card, mortgage or car loan? Why are some individuals flooded with credit card offers while others get turned down routinely?
Because creditors keep their evaluation standards secret...
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Cash Flow: The Pulse of Your Business
By Richard Lipton, CPA
August 15, 2011
Many small business owners do not fully understand their cash flow statement. This is surprising, given that all businesses essentially run on cash, and cash flow is the lifeblood of your business.
Some business experts even say t...
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Do You Know Your Customer's Lifetime Value?
By Gerald Wheelus
June 20, 2011
Let's talk about the lifetime value of a customer and what that value means to you. Lifetime value has many meanings and has been analyzed by folks who are a whole lot smarter than me.
There are several definitions, the importance of w...
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The Best Financial Tool for Business Owners
By Richard Lipton, CPA
June 14, 2011
If there were a tool that helped you create crystal-clear plans, that provided you with continual feedback on how well your plan was working, that told you exactly what's working and what isn't – allowing you to consistently make smart business ...
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Business Accounting: the Truth is in the Numbers
By Dave Crawford
May 9, 2011
"Know the numbers...emotions don't tell the whole story."
I first heard this several years ago in a meeting with Bill Berry, president and CEO of American Tire Distributors. It struck home because it seems that so many tire dea...
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Cash Management Tips for Tire Dealers
By Richard Lipton, CPA
April 18, 2011
Cash is the lifeblood of tire dealerships and any other small business. Below are some tips to help your shop maintain a sufficient cash flow to meet its financial goals and run efficiently....
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Spring Cleaning: Tax Records You Can Throw Away
By Richard Lipton, CPA
April 14, 2011
Spring is a great time to clean out that growing mountain of tax and financial papers that clutters your home and office. Here's what you need to keep and what you can throw out without fearing the wrath of the IRS.
...
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Avoid Identity Theft During Tax Season
By Richard Lipton, CPA
February 11, 2011
Consumers and business owners should protect themselves against online identity theft and other scams that increase during and linger after the filing season. Such scams may appropriate the name, logo or other appurtenances of the IRS or U.S. De...
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Financial Planning Dos & Don'ts
By Richard Lipton, CPA
December 27, 2010
During these uncertain economic times, financial planning has become a challenge. Here are a few financial planning suggestions that can simplify your life and add to your peace of mind about financial matters:
• At least once a y...
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Tire Dealer Financial Tips for December
By Richard Lipton, CPA
December 13, 2010
As the year comes to a close, now is a great time to review a few aspects of your business. To set your tire dealership up for success in the new year, consider the following areas.
Make Charitable Contributions
...
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What 2011 Tax Increases Mean for Tire Dealers
By Domenic Rinaldi
December 1, 2010
Small business owners have one month left to enjoy lower taxes on their assets. It’s no surprise that some are in a mad dash to sell their businesses before year-end in order to take advantage of the current tax rates.
Why the t...
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Year-End Tax Planning for Businesses
By Richard Lipton, CPA
November 19, 2010
Businesses can take several measures at the end of the year to reduce their tax burdens in 2010. Here’s a rundown of best options.
Purchase New Business Equipment
The Section 179 deduction for equipment p...
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Tire Dealer Financials: Tracking Your Key to Success
By Tom Duke
November 18, 2010
Virtually all tire dealers have a business plan that they revise periodically – and if they don’t, they should. Part of that busine...
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Three Common Budget Errors to Avoid
By Richard Lipton, CPA
November 15, 2010
When it comes to budgeting, it’s absolutely essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses, as well as some tips for avoiding them. These errors ten...
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10 Things You Need to Know About Identity Theft
By Richard Lipton, CPA
September 16, 2010
Criminals use many methods to steal personal information from
taxpayers. They can use your information to steal your identity and
file a tax return in order to receive a refund.
Here are 10 things the IRS wants you to know abou...
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