The Planner

Small Business Tax Tips for COVID-19 Response

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Core Group

It just seems like the hits keep on coming in 2020, and as if there wasn’t enough for us to deal with already, we still have to think about taxes. 

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Why Dave Ramsey is Bad for Business – Part 2

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Christian Brim

‍More insidious than Dave Ramsey’s obsession with debt, is his admonishing small business owners to not have partners. Let me say upfront that I completely understand what he is trying to accomplish with people, and I’ve certainly experienced my share of bad partnerships, but abstaining from all business partnerships is frankly a little goofy.

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PPP Flexibility Act Provides Small Business Relief

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Christian Brim

And just like that, Congress shuffled the deck. To be clear, the PPP Flexibility Act brings welcome relief to those small businesses that participated in the Paycheck Protection Program, but it didn’t address all the issues. My gut tells me that they’re not done tweaking this, and before anyone takes action, we need to see what regulations the SBA issues regarding the new law.

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Dave Ramsey cutting credit cards

Why Dave Ramsey is Bad for Business – Part 1

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Christian Brim

I am going out on a limb here, but I don’t like Dave Ramsey. That may be heresy to some, but let me explain why. Aside from the fact that he is dull to listen to, has not a funny bone in his body, and generally is preachy and dogmatic, that is not why I think Ramsey is bad for business. It’s not even that I disagree with his advice, although most of it tends to be more family therapy than financial help. In large part, his recommendations make a lot of sense for the right people, and that is what brings me to my trouble with him. His advice is geared towards wage earners, NOT small business owners. I’m sure there is a lot of crossover, meaning many small business owners have wage-earning spouses, and deal with many of the same issues. The shortcoming is, however, that Ramsey’s advice doesn’t go far enough. His advice is, “if you don’t have cash, don’t buy it.” Brilliant idea, but not very practical for most small business owners. Sure it is preferable to not have to borrow money, but does it really make good business sense?

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Does Your Small Business Need a CPA?

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Core Group

The CPA, the accountant, the tax guy, whatever you call them, most small business owners have someone to help them with their numbers. So, does your small business need a CPA?

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Small Business Lessons from Marathon Training

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Core Group

If you’re like me, you’ve heard the phrase a thousand times, this isn’t a sprint, it’s a marathon. I didn’t really understand the depth of that phrase until I ran a marathon. For most of us who haven’t ever run a marathon, we interpret the phrase as something like, don’t go too fast, this is going to take a while. Or we think, we’re not going to achieve this overnight. While both of these things are true, they are only partial truths.

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Tax & Accounting Services for Small Businesses

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Core Group

Previously I’ve written on 6 Keys to Hire an Accountant, now let’s discuss the different ways you can work with an accountant. There are many things an accountant or CPA can do for you, but we will focus on the ones that pertain to small business owners. Here is a list of services generally offered by tax and accounting services:

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6 Tips for Protecting a Small Business in the Age of the Coronavirus

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Core Group

Remember February 2020 Pre-Covid? Those good times feel like ancient history.

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2020 Business Tax Filing Deadlines & Due Dates

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Christian Brim

When are business taxes due in 2020?

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100,000 Tax-Free IRA Distributions

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Christian Brim

Everyone has been focused on the SBA loan provisions in the CARES Act, and are overlooking several other tax savings opportunities in the law. In this article we'll dive into the tax-free distributions from qualified retirement accounts.

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