Running a Business Archives |

Starting a business

When I started my business, the goal was to regain control over my future.  It seemed that every time I had a child, a position was eliminated out from under me. So, I ventured forth with an idea more than a plan.  Luckily, I had help all along the way. As I gathered...

Value based billing

When you go to your doctor, dentist or even plumber, they do not bill you by the hour.  They bill you based on the service they are performing. I was surprised when the orthodontist told me, that he and all the local orthodontists get together annually to set prices. ...

Running a business

I recently had a client meeting where I have been telling the client he is under billing for services, especially when he needs to utilize outside specialists. I gave him a basic formula to follow, it is far from perfect, but should set him up to get a better handle...

Per Diems

The IRS has simplified per diems for lodging, meals and incidentals for 2023. Employees can get up to $297 tax-free daily in high-tax areas; $204 in other locales. Firms using this method can apply the new rates on Oct. 1 or wait until Jan. 1, 2023. For meals and...

Corporate Expenses

Surprise! A shareholder can’t deduct a payment made on behalf of an S corporation, according to the Tax Court. Two individuals, who owned all the stock in an S corporation, personally paid the company’s utility bill and property taxes and deducted the amounts on their...

Pricing your product or service

I have had a number of clients over the years ask me what they should be charging for their product or service.  There are times when I can assist them and other times not so much. I had one entrepreneur whom I told her, she needed to quadruple her rate; she was...

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