Richard Lipton, CPA, Author at Tire Review Magazine - Page 5 of 7
Protect Your Business With The Right Insurance

Starting a business is expensive and the capital that you’ve poured into your company can disappear in an instant if a major weather event damages your offices or one of your products injures someone. Having the right kind of insurance is critical to your business and multiple insurance policies should be in place before you

Credit Reports: What You and Your Customers Need to Know

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, it is difficult to know just how to improve your credit rating. It is important, however, to understand

Cash Flow: The Pulse of Your Business

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 that a healthy cash flow is more important than your business’s ability to deliver its goods and services!

The Best Financial Tool for Business Owners

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 decisions to keep your business on track for success – wouldn’t you want to

Six Tips for Paying Estimated Taxes

Estimated tax is a method used to pay tax on income that is not subject to withholding. Depending on what you do for a living and what type of income you receive, you may need to pay estimated taxes during the year. These six tips from the IRS will provide you with a quick look

Cash Management Tips for Tire Dealers

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. Toughen up your credit policies. Review the payment terms you offer to customers and tighten them up if slow payment is a

Spring Cleaning: Tax Records You Can Throw Away

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.Let’s start with your "safety zone," the IRS statute of limitations. This limits the number

Five Hidden Reasons You Need a Will

Most people don’t appreciate the full importance of a will, especially if they think their estate is too small to justify the time and expense of preparing one. And even people who recognize the need for a will often don’t have one, perhaps due to procrastination or a disinclination to broach this sensitive subject with

Avoid Identity Theft During Tax Season

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. Department of the Treasury to mislead taxpayers into believing the communication is legitimate. Scams involving the impersonation

Financial Planning Dos & Don’ts

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 year, write down your investment goals and what strategy you will use to reach them. This will

How to Prepare for a Successful Retirement

As a small business owner, it’s vital that you pay attention to key financial questions as you approach retirement. Here are some of the items tire dealers should check: Health Insurance. Are you among the lucky few who will continue to be covered after retirement? If not, you’ll need to replace the coverage. If you

How Health Care Reform Affects Small Businesses

There’s plenty of debate about whether the new health care reform bill is good for America. Whatever your views, it looks like the Affordable Care Act – a massive piece of legislation passed by Congress in March – is here to stay. The majority of Americans without health insurance are the owners or employees of