What a CPA, Bookkeeper, & Business Manager Can Do for Your Business
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What’s the difference between a CPA and a bookkeeper?
How do I protect myself from fraud (bogus checks!)?
How do I know when I need a bookkeeper?
What percentage of income do medical bills need to be before I can claim them as a write-off?
How do I use independent contractors without running afoul of labor laws?
How do I reduce my audit risk if I take a business loss?
All music in this episode by Gold Chains.
Rick’s articles and Rick Norris CPA on Facebook and Twitter.
Stephen Fishman’s book and interview.
Tips:
Tell your bank to alert you every time someone tries cash a check.
Never have bookkeepers in charge of both writing checks and doing bank reconciliations. It’s supposed to be a check and balance.
Make sure you classify your staff correctly. The IRS is really coming down on small businesses who improperly classify employees as independent contractors.
Quotes:
Once you’ve built the car, you need a map. That’s what a strategic plan is: a road map of where you are going to be 10-20 years from now.
Most people think that if they are not going out of the black, they’re doing fine, but they really don’t have a direction for where they are going.
Keep one eye on the step in front of you and one eye on the horizon.
If you can’t measure it, you can’t manage it.
Once you start going outside of your core competency you run the risk of losing your vision, and then the whole thing just falls apart.
The more money you make, the less you can deduct.
P.S.
Be Your Own Attorney: The Smart Business Guide For Freelancers
10 Critical Tax Questions Answered For Sound Engineers
The Sound Engineer’s Pain-Free Guide To TurboTax
In this episode of the Sound Design Live podcast I speak with certified public accountant Rick Norris on creating a strategic plan for your business (which is something you need even before a business plan) and about what players you the small business owner should recruit for your team. He also answered these burning questions:
What’s the difference between a CPA and a bookkeeper?
How do I protect myself from fraud (bogus checks!)?
How do I know when I need a bookkeeper?
What percentage of income do medical bills need to be before I can claim them as a write-off?
How do I use independent contractors without running afoul of labor laws?
How do I reduce my audit risk if I take a business loss?
Details from the Podcast:
All music in this episode by Gold Chains.Rick’s articles and Rick Norris CPA on Facebook and Twitter.
Stephen Fishman’s book and interview.
Tips:
Tell your bank to alert you every time someone tries cash a check.
Never have bookkeepers in charge of both writing checks and doing bank reconciliations. It’s supposed to be a check and balance.
Make sure you classify your staff correctly. The IRS is really coming down on small businesses who improperly classify employees as independent contractors.
Quotes:
Once you’ve built the car, you need a map. That’s what a strategic plan is: a road map of where you are going to be 10-20 years from now.
Most people think that if they are not going out of the black, they’re doing fine, but they really don’t have a direction for where they are going.
Keep one eye on the step in front of you and one eye on the horizon.
If you can’t measure it, you can’t manage it.
Once you start going outside of your core competency you run the risk of losing your vision, and then the whole thing just falls apart.
The more money you make, the less you can deduct.
This article What a CPA, Bookkeeper, & Business Manager Can Do for Your Business appeared first on Sound Design Live. Sign up for free updates here.
P.S.
Be Your Own Attorney: The Smart Business Guide For Freelancers
10 Critical Tax Questions Answered For Sound Engineers
The Sound Engineer’s Pain-Free Guide To TurboTax
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