Archive for the 'Business Tips' Category


Taking your R&D Credit: Offsetting Payroll Tax

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The Research and Development Tax credit has taken a lot of criticism for being un-impactful. One reason is the business generating the credit had to have income to use the credit.

Since the PATH act, small businesses in their first 5 years with less than $5 million of gross revenue can use what once was only a federal income tax credit as a payroll tax credit. See my previous blog about the details and how to maximize the credit.

Since my article,

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Your Unicorn has Arrived, Tech Startup

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Everyone knows the Research and Development Tax Credit has changed in a big way for startups. (OK, not everyone, but everyone should — especially tech startups, and Utah County is full of them). So listen up…

In the past, tech startups have never had an appetite to try to scrape together a Research and Development Tax Credit calculation because doing so didn’t save them any money, at least not in the current year. That’s because, in the past, the credit would only

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Should your business switch to QuickBooks Online?

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Several years ago, I handled bookkeeping for an electrician who always provided detailed invoices to his customers.  Usually, he would enter invoices into QuickBooks (desktop version) himself because he was very concerned about every little detail being included in them.  Every now and then, he would get too busy to do this himself and would ask me to help him out.  He would bring me meticulous notes so that I could create the invoices for him.  Many times these notes

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Are you really saving money doing it yourself?

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To save money, people will often take on DIY  (“Do It Yourself”) projects.   I am one of those people.  I’m always trying to find ways to cut out the labor costs when it comes to many of my home projects.  However, how much money have I really saved?  Most recently I discovered that I have an abundance of allergies.  So I looked up how to make cute little face masks to wear outside.   In all my excitement, I bought lots

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Retirement Plan Contributions Limit Considerations for Self-Employed Individuals

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The television game show, Let’s Make a Deal, presents contestants with a prize and gives them a choice to either accept the known prize or trade it away for an unknown alternative.  I chuckle a bit as I recall an episode where a woman, hoping for a new car, traded a trip to Maui for a donkey that was hidden behind Curtain #3.  In my mind’s eye this determined woman is still en route to Maui on the back of

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You Bought a Dental Practice, Now What?

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You finally purchased a dental practice in an area and at a price that you wanted. Your dream was not only to be a dentist, but also to become a business owner and to provide for your family. Then you discover that there is a lot more to running a dental practice than what you were taught in dental school. You are finding that you have to deal with staff personalities, bills, how to stay organized, time commitments and information

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Tips for a Smoother Audit and Tax Return

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It’s in the nature of most of us accountants to become so lost in the details of our tasks that we can lose sight of our end goal. When I was a fresh-faced new staff I was assigned to complete a tax form that I hadn’t seen before. I set to work filling it out, looking through each box and double-checking the numbers I’d entered to make sure they were accurate. I filed the form and submitted payment on behalf

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Are You Protecting Your Small Business from Fraud

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We would all like to be able to trust everyone, especially those we employ. Your employees have access to company assets, and that requires a level of trust. How do you protect your business from the possibility that one of your employees might harm your company?

Richard Parks of Salt Lake City, Utah plead guilty to fraud in September 2013. This fraud resulted in a loss to his employer of over $95,000. Richard didn’t receive any of the money himself; instead,

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5 Ways to Enjoy Your Job More

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If you are like a lot of people, you might look at your job as “just a job.” It is something that you have to do in order to make ends meet.  But what if you can really learn to love your job? What if there are ways to find fulfillment from your job which can help other aspects of your life?  Good news, you can!  

Avoid office gossip.

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Paragliding toward cloud accounting

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I feel blessed to live near Point of the Mountain in Draper, Utah, where I sometimes have spectacular views of paragliders above me during my commute home.  The area is widely known as a premier paragliding destination, and I often have parked near the takeoff and landing site to watch.

I can imagine that flying with only the wind carrying you must be the thrill of a lifetime.  Likewise, I am very excited about rising among the “clouds” with

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