Author: D Allen
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The Shocking Truth – Your ‘Business Game Menu’ is Lying to You
I like video games. Most of us do. Those of us who don’t usually have real-life feedback loops similar to what we seek in video games, albeit with a longer time horizon. In the end, I think that’s the goal – to know exactly what you need to do, and have a pretty good idea… Read more
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Invest in Seven – 7 Ways For Financial Peace of Mind
The NIV Bible puts Ecclesiastes 11:2 this way: “Invest in seven ventures, yes, in eight; you do not know what disaster will come upon the land.” It’s become a proverb in the finance community that the average millionaire has seven streams of income. It was based supposedly on an IRS document. It reported on the… Read more
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Stop Wasting Time on Your Books! Business Bank Account
Each day you use a personal bank account for your business, you create more work for yourself. In this starting a business series, we talked about different types of business structures here, here, and here. Now we’ll talk about the easiest thing to get right that many don’t: opening a business bank account and only… Read more
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Make it Easy to Choose: S-Corp or C-Corp
In a previous post, which was a simple infographic, I presented the differences between a multi-member LLC and a Partnership. Before that, we talked about the sole proprietorship vs the single-member LLC. In this post we’ll cover the next two most common business structures, the S Corporation and the C Corporation. Both benefit from a… Read more
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Should I Form a Multi-Member LLC or Partnership?
There are a few key differences between a partnership and a multi-member LLC. One requires no paperwork to start but might require regular documents updating when partners leave for whatever reason. Another provides more protection to other people in the business from liability in case any of its members ends up doing something that could… Read more
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Make Your Bookkeeping Simple
Make your bookkeeping simple. It’s my job to take the bookkeeping completely off of your hands. Check in and make sure I’m doing my job. I’ll send some emails periodically if I have questions about some transactions. I’ll send reports crucial to your decision making each month. If you’re spending more than 5 hours per… Read more
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Connect Your Bank Feeds to QuickBooks Online in Rocket-Speed Time!
Here is a video showing how to connect bank feeds to QuickBooks Online. To have me look at your books and develop a strategy to take the bookkeeping as much off of your hands as you want, contact me. If you just have a question, send message here. Read more
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What ARE cash and accrual accounting? The best for you is…
One of the first decisions every business owner faces is choosing how to track his or her finances. The two main methods —cash accounting and accrual accounting—offer very different approaches. Don’t know which one you should use? Here’s a quick explanation: What is Cash Accounting? With cash accounting, you record income and expenses only when… Read more
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Now My Books Make Sense – How A Chart of Accounts Works For You
In this post we’ll learn how a chart of account works. A chart of accounts is a list of categories that every transaction fits into. If we’ve done our job right, there should be a category for every type of transaction. At the same time, the same type of transaction should not have two different… Read more
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Should Have Hired a Bookkeeper
How do you know when you should have hired a bookkeeper? When you’re paying late fees on bills. Your accounts receivables are getting longer and longer time horizons. You’re paying subscriptions and other fees that you believed you had cancelled or are no longer using. You’re panicking at the end of the month to put… Read more