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Business Use of Personal Vehicles

What are the rules surrounding business use of personal vehicles? Is business use of personal vehicles a good practice?  And is it better to use the standard mileage rate as your deduction or the actual expenses?   My answer is “You should talk to your tax preparer.” This is because how and when you deduct for …

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Pay Yourself First Principle

Pay Yourself, Pay Your Bills, and Save Money In a recent video I said that it was easier than you think to save money.  I know most of you laughed but your idea of bookkeeping is about the get flip turned upside down. (Pardon the Fresh Prince of Bel Air reference, it just happened).  The …

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Protect Your Personal Assets

Your Personal Assets Could Be At Risk There are several business scenario’s that could put your personal assets at risk.  Picture this- you’re out on a job and one of your guys leaves the gate open allowing the customer’s AKC registered German Sheperd to escape, not to be seen again.  In addition to being heartbroken, …

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Business Systems Are Critical

Why are you in business? Are you in business to do the job or are you in business to create a mini-empire?   Do you plan on doing the grunt work forever or do you want to build a team to do it for you?  Do you want to just close up shop when the time …

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PPP Loan Forgiveness Application

The SBA released the PPP Loan Forgiveness Application late Friday. If you have been following along with my updates, there are no real surprises.   There are a few clarifications I want to make for you: What is a “Covered Period?” Until now the Covered Period for payroll costs was to begin on the day loan …

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What’s In It For Me?

Let’s be honest, we are a self-centered bunch! Here is a cold hard fact that you should learn sooner rather than later.  Your clients aren’t buying what you do. They are only interested in the end result. When scrolling through the numerous choices for junk removal (or anything else) listed online they may be thinking …

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