Focus CPA Group-(562)281-1040

Posts Tagged ‘Ups’

First, if you’re only reading this article because you want to find a good format for writing a business plan, then you will find some good formats, templates and software at Intuit’s website – you know, the same people who make QuickBooks, Quicken and TurboTax. Well, if you go to the Intuit website, then you will find its new business plan service under the name of “JumpUp.” And even better, some of the templates and software are free. But, I have a feeling you might have a few more questions about business plans, so here are a few more pointers.
Second, something is more important, however, than just the writing a of business plan. The most important thing is that you decide WHERE you want your business to go and HOW you want to get there. Your decision about the where and how of your business goal is more important than the writing of it.
Third, the next most important thing is your specific use of the plan itself. If your business plan’s purpose is to serve as a guiding light to you and your key people, then it will be in that type of format. If its purpose is to create measurable goals, help evaluate progress towards those goals, and guide decision-making, then the plan might take a different shape. And, if your business plan’s purpose is to attract investors or to obtain a loan, then it might be in a different format altogether.
Fourth, and a special note for start-ups, if the business plan is for a start-up business and is for the last 2 purposes (measurable-goals/decision-making or investors/lenders), then I recommend a specialized process. First, write a business plan as if you were writing it to be your guiding light. I have worked with many clients with a new business who should not be writing an investor/loan business plan just when they are starting up the company. Why? Because a business plan should not be a something that you create just so that it sounds good to other people (or yourself). The plan should really be an actual reflection of the desired destination and the means anticipated to get there. So, for the new business owner, these insights and realizations need some time to evolve. Sure, a new business owner starts out with goals, dreams and ambitions. But, it takes time for these goals, dreams and ambitions to mature in the marketplace. That is why it is important early on to write the business plan, but do it with the “guiding light” purpose.
When DO you take the next step and write the business plan with the potential investor or lender in mind?
When the heart and mind agree on the destination and the means of getting there. Then, and only then, is it the right time to transform the “guiding light” plan to a business plan for measurable-goals/decision-making or investors/lenders.
Fifth, once the mind and heart agree, then it is essential to commit the business plan to paper because without a clear destination, there is no basis upon which to make decisions. Decisions should be made with the destination in mind. Writing down how to reach the destination establishes mile-markers that will measure progress. Without some way to measure progress, we are only left with our feelings – and feelings change from day to day or moment to moment. Milestones help us to make needed adjustments while the vision of our destinations keeps us on track.
To sum up, a business plan is important. The pre-work, however, is even more important. The follow-up, which measures our success against the plan, is what gives the plan its purpose.
Copyright 2007, Chuck Markham, MA, LAC (“Business Coach Chuck”)

• ISBN13: 9780333947319
• Condition: NEW
• Notes: Brand New from Publisher. No Remainder Mark.
• Click here to view our Condition Guide and Shipping Prices

Product Description
From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. But regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. Randel Carlock and John Ward, two leading authorities, provide a… More >>

Strategic Planning for the Family Business: Parallel Planning to Unite the Family and Business

• UNIT: sold as 1 EACH (EA)
• PRODUCT UPC: 089138028797
• Usually ship via UPS or FeDEX
• Color: WHITE

Product Description
Wedgewood Weekly Planning Pages offer a dated yearly refill that ranges 12 months from January to December. Two-page-per-week spreads feature a Monday through Sunday format, open lined scheduling for flexibility, Julian dates and current, past and future months reference calendars. Seven-hole punched. * SHIPPING: we only ship UPS/FedEx ground which has a minimum fee. Also search for: Day Runner,Organizers,Time Management Accessories,2PPW Wedgewood Weekly Planning P… More >>

Weekly Planning Pages,2PPW,Jan-Dec 2009,5-1/2″x8-1/2″

Taxes are your single biggest expense against your income. Knowing what deductions you’re entitled to can save you hundreds, if not thousands of dollars. This article will cover vehicle related deductions that often get overlooked by home-based businesses. Our focus will be for individuals with no employees, however many of the deductions will apply to small business and large corporations as well.
There are two ways to calculate Vehicle deductions:
1. Standard mileage for 2006 is $0.445/mile
2. Actual cost method + depreciation
Lets start with the “standard mileage rate”. You can write off each mile you drive that is related to your business at $0.445/mile. This is called the “standard mileage rate”. So if you drive 10 miles to visit a client, then 10 miles to return to your home office, you can deduct 20 miles. 20x.445=$8.90. However, you cannot deduct all your miles, such as going to the grocery store. You can see how this can add up to a substantial amount. Some professions such as real estate require a lot of driving.
In addition to your standard mileage rate, you can also deduct parking fees and tolls in connection with your business travel. If you have a loan on the car, then you can deduct the interest paid on the loan to the extent that you use the car as a business expense. So if you use your car 50% for business and 50% for personal use, then half the interest paid on the loan is deductible! Remember, this is for self-employed only. You cannot deduct interest on a loan if you are an employee using the car for your job.
The standard mileage rate is by far the simplest, but may not offer you the largest deduction. Instead, you can choose the “Actual Cost Method”. In this method, you deduct all the expenses related to owning and maintaining your car. This would include and is not limited to oil changes, repairs, tires, brakes, tune-ups, washing and waxing, auto-club memberships, license plates, and car insurance. Again, all of these expenses are deductible for the portion that you use the car for business. For example, if you drive 20,000 miles during the year, and 15,000 miles are for business, and the remaining miles are for personal use, then you can deduct 15,000/20,000 or 75% of all those expenses.
In addition to the actual cost method, you can deduct a depreciation value. This is a value that reflects the loss of value to the car over time due to wear and tear. The simplest example of this would be if you bought a new car in 2006 for $20,000, you can deduct 20% of the value the first year times the percentage of business use. So if you use the car 75% for business, you calculate your deduction as follows: $20,000×75%x20%=$3000.
For the following years, you use the following schedule:
First year: 20%. (Half a year)
Second year: 32%
Third Year: 19.2%
Fourth Year: 11.52%
Fifth Year: 11.52%
Sixth Year: 5.76% (half a year)
What if you trade an old car you were using for business for a new car? You would have to recalculate a “basis” cost for depreciation. You also have a different depreciation schedule if you use the car less than 50% for business or if you buy a hybrid electric car.
We have by no means covered all the twists and turns that would affect how you calculate your deductions. Fortunately a popular tax software like TurboTax or Taxcut will walk you through each step in calculating your deduction then give you which method yields you the biggest deduction. If you’re going to use a tax accounting service, make sure you go over these kinds of deductions with the tax professional. Bring this article with you and ask them if the have experience with how to prepare returns small businesses and all the deductions that are available to you. If they hesitate or stutter, go somewhere else. If could cost you thousands.