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Balance Books By Joe is happy to share informative articles on bookkeeping with local small businesses

Tips to Get Your Invoices Paid Faster

Posted by on 9:13 am in Accounts Receivables | 0 comments

Tips to Get Your Invoices Paid Faster

After investing time, energy and resources into a client, you want to get paid for your efforts.  Far too often business owners have to chase unpaid invoices and waste time in the process.  Getting paid faster should be on the top of every business owners priority list. With a few simple processes in place, you can protect your cash-flow. Rest in the knowledge that you will have money coming in to your business on time. The importance of getting paid on time cannot be underestimated, so what can you do to get paid more quickly? Get Your...

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5 Ways to Save Money as a Small Business

Posted by on 12:56 pm in Business Strategy | 0 comments

Looking for ways to save money within a small business? With constantly rising costs it is ever more important for small business owners to find ways of making their money stretch further. Here are 5 ways that your business can quickly and easily save money overnight!   Use Micro Job/Freelance Sites Freelance or micro-job sites act as marketplaces for buying and selling small, one off services.   Instead of paying to hire someone or training in-house; micro-job sites connect your business with skilled professionals in a matter of...

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10 Bookkeeping Tips for Small Businesses

Posted by on 12:51 pm in Business Strategy | 0 comments

10 Bookkeeping Tips for Small Businesses

Bookkeeping can be a tough job for any business owner, when you really want to be spending time on your core business.  For some business owners accounting can seem like a bit of a minefield.  Looking for some ways to make your accounting that bit easier? 10 Bookkeeping tips for small business Here are 10 bookkeeping tips to help you save money & manage your finances more efficiently. Monitor Your Invoices Make sure you’re actually getting paid!  It might seem crazy but many small businesses fail to realize they haven’t been paid by...

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Common Mistakes Lawyers Make With Trust Accounts

Posted by on 7:41 pm in Trust Accounts | 0 comments

If you are a a lawyer and happen to mismanage a trust account, there will be consequences to pay for your mistakes, even a disbarment.  Below are some mistakes lawyers have made in the past that yon can learn from: Borrow money from a trust account – Some lawyers will take the funds out before they have earned the right to.  Usually they are the ones with cash flow issues, concerned about paying office rent, payroll, etc.  Some also will take out the funds with the intention of replacing the money later on.  This can lead down to a...

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Filing a Tax Extension

Posted by on 2:38 pm in Tax Extension | 0 comments

If you have missed the deadline for filing your tax returns, you have until October 15, 2015 to efile your 2014 Tax Return!  Great article below from efile on steps to help you get started: http://www.efile.com/how-can-I-file-taxes-after-my-tax-extension/  

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Keep your business afloat – 4 Financial Tips

Posted by on 8:24 pm in Business Strategy | 0 comments

If you are a client of Joe Lavoie, you understand the importance of keeping your books in order so your business can stay afloat.  At times you may get off course in your business and face a financial hardship.  If you find yourself in that situation, here are 4 tips you can work on: 1. Calculate how long money will last If you feel that in 60 days you are going to run out of cash, consider short term loans.  These can include bank loans, family and friends or even credit cards.  You may also want to consider business loans from Kabbage,...

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How to avoid a Tax Audit

Posted by on 8:05 pm in Tax Audits | Comments Off on How to avoid a Tax Audit

Are you afraid of being audited?  The chances are relatively low(around 1%) but you can attract attention from the IRS if you are doing the following:   Mistakes on your tax returns – Make sure to double check all your numbers(could be math or social security errors)   Large charitable donations – this may include property so you must file a Form 8323 for anything over $500   Neglect to report part of your income – the IRS gets a copy of all 1099 or W-2 forms   Claiming a home-office deduction –...

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Uncommon Tax Deductions

Posted by on 4:20 pm in Tax Deductions | 0 comments

Well it’s getting closer to that April 15th deadline to file your taxes.  If you haven’t started yet and are wondering what are some uncommon tax deductions that I can write off this year, check out the list below.  Some may shock you as to what people have tried to write off in the past:   Swimming Pool – Could be considered a medical expense   Pet Food – Once seen as a business expense for pet cats to keep away rats and vermin   Body Oil – For those that felt the need to enhance their bodily...

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