Financial Cents

October 17, 2016 | Juanita Farmer, CPA


Cash Flow Management: the Secret to Success

Cash flow is the lifeblood of any small 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. While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer’s business, you can always work […]

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October 15, 2016 | Juanita Farmer, CPA


Choosing the Right Business Entity

When you decide to start a business, one of the most important decisions you’ll need to make is choosing the right business entity. It’s a decision that impacts many things–from the amount of taxes you pay to how much paperwork you have to deal with and what type of personal liability you face. Forms of […]

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October 13, 2016 | Juanita Farmer, CPA


IRS Warns of Fake Tax Bill Emails

Numerous reports of scammers sending fraudulent CP2000 Notices for tax-year 2015 have been received by the IRS, resulting in an investigation by the Treasury Inspector General for Tax Administration. The notice relates to the Affordable Care Act (ACA) and requests information regarding 2014 coverage. It also includes a request for payment of unpaid taxes. Here’s […]

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September 27, 2016 | Juanita Farmer, CPA

Small Business Owner Green Road Sign and Clouds

Tax Planning for Small Business Owners

Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning. They don’t even think about their taxes until it’s time to meet with their CPAs, EAs, or tax advisors but tax […]

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September 23, 2016 | Juanita Farmer, CPA


Identity Theft and Your Taxes

Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to individuals, businesses, organizations and government agencies, including the IRS. Learning that you are a victim of identity theft can be a stressful event and you may not be aware that […]

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August 30, 2016 | Juanita Farmer, CPA

charitable contribution

Charitable Contributions of Property

If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution. However, if the property fits into one of the categories discussed here, the amount of your deduction must be decreased. As with many aspects of tax […]

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August 23, 2016 | Juanita Farmer, CPA


Tax-Free Savings for College

According to a recent study published by the Federal Reserve Bank of San Francisco, researchers found that over a lifetime, the average U.S. college graduate will earn at least $800,000 more than the average high school graduate–even after taking into consideration the cost of college tuition and the four years of lost wages it entails. […]

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August 16, 2016 | Juanita Farmer, CPA

iStock_79605157 home based business

The Home-Based Business: Basics to Consider

More than 52 percent of businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into the corporate headquarters of the newest entrepreneurs–home-based business people. And, with technological advances in smartphones, tablets, and iPads as well […]

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August 12, 2016 | Juanita Farmer, CPA

personal finance

The Best Financial Tool for Business Owners

What if there were a tool that helped you create crystal-clear plans, provided you with continual feedback about how well your plan was working, and that told you exactly what’s working and what isn’t? Well, there is such a tool. It’s called the Budget vs. Actual Report and it’s exactly what you need to be […]

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August 9, 2016 | Juanita Farmer, CPA


Five Ways to Improve Your Financial Situation

If you are having trouble paying your debts, it is important to take action sooner rather than later. Doing nothing leads to much larger problems in the future, whether it’s a bad credit record or bankruptcy resulting in the loss of assets and even your home. If you’re in financial trouble, then here are some […]

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