You have all heard the saying, “Money doesn’t grow on trees.” We all get that. But what no one tells you is where money does grow. The truth is that money grows in “other people’s pockets.” So how do you get your share of money in “other people’s pockets”? Relationships. I have said for decades…
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Ask the Accountant… Question: I have been using my personal checking account and credit card for my business transactions. Are there any problems with doing that? Answer: Yes! You are creating myriad problems by using personal accounts for both personal and business use. The term for this is “commingling of funds.” The first problem is…
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Ask the Accountant… Question: Why is QuickBooks Premier making me log into my Intuit account when I open my QB? Answer: This is a relatively new requirement, but I suspect it’s here to stay. When you open your QB Premier file, you will now be prompted to log into your Intuit account as the admin.…
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Our mindset is critically important to our success in life because thoughts become things. Steven Covey, in his best-selling book The Seven Habits of Highly Successful People, introduced us to the “abundance mindset.” An abundance mindset is when a person believes that our world is full of plenty of opportunities for all people to be…
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Ask the Accountant… Question: If I convert to QuickBooks, do I have to use QuickBooks Payroll? Answer: There is no requirement to use QuickBooks Payroll. Our businesses generally involve very few, if any, employees. And payroll is rarely a needed function. My clients who do have a payroll typically use outside payroll services, or have…
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We are already one month into the new year. How are you doing on creating the new you in your new year’s resolutions? If you are on track with your new year’s resolutions and goals, congratulations! Keep doing what you are doing to stay on track. If you are off track and 2021 seems like…
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Do you deserve to be a millionaire? Why? If you said you deserve to be a millionaire because you work hard, long hours, you are wrong. Lots of people work long, hard hours and earn minimum wage. If you said you deserve to be a millionaire because you have been in this business 25 years…
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Ask the Accountant… Question: Recently, I had a question about what a balance sheet shows, so I thought I’d tackle income statements as well. Answer: The income statement is also known as a profit and loss statement, or a P&L. It shows what you have earned and what you have spent to produce a profit…
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Right now, your clients are undergoing major changes that are affecting their needs for promotional products. With events out of the equation, employees working from home and staff reductions, companies are using promotional products very differently. Understanding these changes will help you provide the right solutions for your clients…
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If you have ever watched the Kentucky Derby or any horse race, surely you’ve noticed the horse blinders on the heads of the horses. The purpose of these blinders is to keep the horse from getting distracted by other horses, people or even birds. When a horse gets distracted and looks around, it can lose…
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