http://shine.yahoo.com/work-money/8-habits-highly-productive-people-173900168.html

http://shine.yahoo.com/work-money/8-habits-highly-productive-people-173900168.html

An Economist View of the Debt Debate

I thought this was a pretty interest view of  of what was really happening with the debt ceiling talks.  http://www.ftportfolios.com/Commentary/EconomicResearch/2011/7/25/hysteria-and-the-debt-debate

IRS to Survey Taxpayers, Businesses & Exempt Organizations.

The IRS has contracted with Westat to conduct a survey of individuals, businesses and Exempt Organizations to determine the taxpayer burden in meeting tax reporting requirements.   The survey is scheduled to begin in August and will be sent to 20,000 randomly selected individuals.  they have asked tax preparers to inform their clients that this is a legitimate survey. If you receive one and have any questions, please give me a call.

Emails using IRS Name or Logo – Scam

The Internal Revenue Service has issued several recent consumer warnings on the fraudulent use of the IRS name or logo by scamsters trying to gain access to consumers’ financial information in order to steal their identity and assets.

As of this date, IRS does not correspond with individuals by email!  If you receive an email supposedly from the IRS, it is a Scam!

Bookkeeping Tips for Small Businesses

These tasks sound simple, but are overlooked all too often. 

1)  Reconcile the books with the bank statement(s) monthly – An important basic bookkeeping task is to reconcile your books to your bank statement(s) monthly.  This ensures that you are accurately capturing all income and expenses that occurred through your business account(s). **Don’t Forget!  – Business credit card statements need to be reconciled each month also, these are business expenses that need to be captured too.  

2)  Petty Cash – A good system needs to be set up to keep track of your petty cash.  A petty cash log is useful to write down when any cash is deposited or taken out and for what purpose.  This account should be kept in your bookkeeping system and updated and reconciled frequently.

3)  Keep a Backup – It is important to make a backup of your books each time you make changes.  Keep the backup on a separate removable drive or disk and keep in a safe secure place.