NEW

A Guide To Form 990 For Tax-Exempt Organizations

What is Form 990? Although many nonprofit organizations are exempt from paying federal taxes, the IRS requires tax-exempt organizations to file Form 990 for informational purposes. The IRS uses this informational return to determine whether you're still exempt from...

5 Critical Tax Tips For Nonprofits in 2019

No one enjoys filing taxes, but it can be especially problematic for nonprofits. Many nonprofits focus on their cause so much that they neglect proper organization. As a result, they deal with disorganized records and systems, and a lack of clarity around tax issues....

THE SMART BUSINESS OWNER’S LIST OF TAX DEDUCTIONS

For a business owner, taxes can be overwhelming and cumbersome. Tax deductions allow you to save thousands of dollars each year on your taxes and make tax filing a much more bearable experience. In this post, we'll list some of the tax deductions you can use to...

The Smart Business Owner’s List Of Tax Credits

One of the best ways to cut costs as a business owner is to take advantage of all the tax deductions and tax credits for which you're eligible. As a business owner, you're concerned with the bottom line--increasing your net profits. That probably means you spend most...

PRESS RELEASE: Cassidy Jakovickas, CPA of Fresno, CA Appointed to Intuit’s Accountant Council

Select Panel Advises on Products and Services that Accountants and Their Clients Want Most             FRESNO, CALIFORNIA – June 4, 2019 –Today, Intuit, Inc (Nasdaq: INTU) announced that Cassidy...

Beyond The Numbers: What We’ve Been Reading

Although our team loves using numbers and spreadsheets to help our clients make the best financial decisions, we also enjoy reading great books. Staying well read on both fiction and non-fiction books helps us hone our imagination and introduces us to new, sometimes...

Looking Back At April

It’s hard to believe that we’re at the end of April, but it’s true! This month, we helped our clients wrap up another great (and busy) tax season. There was, as always, a lot of paperwork, emails, and nail-biting involved in the days preceding April 15, but that’s all...

5 Last-Minute Tips For Filing Taxes in 2019

Well, April 15 is almost here, and the tax-related panic is thick. If you haven’t filed your 2018 tax paperwork and are rushing to get your taxes in by the deadline, we’ve decided to give you some last-minute tax advice that will hopefully help ease your stress....

An Introduction To Cybersecurity for Business Owners

Keeping your sensitive business and customer data secure has never been more critical. Whether you are a small business or a national corporation, you can't relax your defenses against those criminals seeking to take advantage of lazy cybersecurity policies. Virtually...

March News Roundup

Wow! It seems like we just started March and we’re already moving into April! As we move into the final stretch of tax season, we’re recapping this month’s news for you, just in case you missed it amid the tax-related hubbub. MBS Accountancy: November Review This...

Starting a Small Business

Reading Time: 2 minutes

Some of the sturdiest and most remarkable companies of today were started with a leap of faith in the 1930s during the Great Depression.

If you have a good idea – and, a product or service the public wants and needs – then even the Great Recession of the 21st Century shouldn’t be enough to stop you from starting a small business.

One of the greatest keys to success for any new small business is to begin things correctly. First, make a plan; write everything down. Sometimes, things sound good in conversation, but, when on paper, look and feel totally different. Committing ideas and plans to paper allow you to fully think through every detail, find any flaws, and fix those flaws before they cost you a lot of money.

Get the right help, up front. Today’s highly regulated business environment means you can spend hours of a productive work week just shuffling papers, meeting regulations, and filing government reports. Get some professional assistance in the beginning to understand what you’re up against, and make a decision about the continual use of professional help. You will be able to weigh to cost of professional help – such as an accountant – versus attempting to do things yourself. It’s very possible the lost income you will have from taking time away from producing a product or service versus paying someone to take care of a paperwork chore will be much higher than the cost of paying a professional.

Think small, but prosperous. Customers want to deal with prosperous companies. They want to see an image, and know the company they are dealing with didn’t sprout up overnight. The beginning is too early for teak or mahogany office furnishings, but it’s not too early perhaps for some selectively chosen office furniture from a used furniture dealer. The cost of a bottle of furniture polish will save you thousands of dollars versus buying the identical piece new.

And, finally, have faith in yourself. A good idea is a good idea, and more than one giant corporation was founded by one person with a twinkle in their eye and the ability to make things happen.

MBS Accountancy is always ready to meet with anyone who believes they may like to start a small business. The MBS professionals know all of the ins and outs of doing business in California, and can help guide you to success.

Previous

Next

Submit a Comment

Your email address will not be published. Required fields are marked *