Thursday, September 27, 2007

Your Spreadsheets won't Excel

Like many small business owners, I was a bit apprehensive about upgrading to the new Microsoft Windows Vista and Microsoft Office 2007. After all the listening to others and hearing their problems with the new system, I figured by now that all the kinks should have been worked out of Microsoft’s new offerings. I went ahead and upgraded all our office systems and must say that I have not experienced any problems with the new system so far.

Then I came across the following article that states math errors have been found in the new Excel 2007. It appears the errors have to do something with “floating point numbers” and the programmers at Microsoft are aware of the problem. They just don’t know when it will be fixed.

Check out the article and see if your spreadsheets have any of the errors included in them. As always it is good to foot and cross foot your totals for accuracy.

Keeping your Business N Synergy

http://www.thebricogroup.com/

Monday, September 24, 2007

Max Out Your Retirement Plan

The last quarter of the year is about to begin. This is a great time to take a look at your overall financial picture and make adjustments to your retirement plans. Here are some qualified retirement plan limits for the year 2007:

Pretax contributions for 401(k) and SEP plans: $15,500

Sec. 415(b)(1)(A) defined benefit plan annual benefit ceiling $180,000

Combined employer/employee pay-in limits for all defined contrib.. plans $45,000

SIMPLE plan limits $225,000

For workers aged 50 and over, there are catch up limits that can help you even more at tax time. Be sure to speak with your tax advisor to ensure that you get the most benefits from you retirement investment.

Keeping your Business N Synergy

www.thebricogroup.com

Wednesday, September 19, 2007

Depreciation OOOPS!!!

With the corporate tax filing extension behind us, many small businesses are focusing on the final quarter of the year…the last push for the finish line. Hopefully you filed your returns correctly and took into account any depreciation for assets purchased. If you did not or if you made a mistake, not to worry for the IRS has made it easier to correct these mistakes.

According to IRS Revenue Procedure 2007-16, taxpayers (and their tax advisors) can now file Form 3115, Application for Change in Accounting Method with either an original, or amended tax return for the year in question. The previous procedures required the taxpayer file an amended return. For more info visit http://www.irs.gov/irb/2007-04_IRB/ar11.html

Keeping your Business N Synergy

http://www.thebricogroup.com/

Monday, September 17, 2007

Get Help Anytime…Anywhere

You have a problem…your accounting software has a bug and you can’t print a quote for your largest client. You need immediate assistance so that you can get that invoice or quote out to a customer and keep your business running. If you have a financial advisor who is tech savvy, your business will be back up and running in no time with Windows Remote Assistance.

Remote Assistance works with Windows XP and Vista operating systems that allow your advisor take control of your desktop to walk you through any problems you may have with your system. All you need to work proactively with your advisor is internet access, an e-mail account, and Windows Vista or XP operating system on your computers.

For more information regarding how to work proactively with your advisor and keep your Business N Synergy visit www.microsoft.com and search for Remote Assistance.

www.thebricogroup.com

Thursday, September 13, 2007

Bad Tech Attitude

Microsoft conducted a telephone survey of 252 small business owners and found out that 60% of family owned businesses with multiple generations working together have had a disagreement regarding technology spending. Other findings include:

83% of small business owners were satisfied with their recent technology investment

24% look for technology advice from technology consultants

29% from family and friends for advice

Those that look for advice from technology consultants for technology were the most likely to be satisfied with their purchases coming in at 95%. Small business owners typically purchase PC’s, laptops, and industry specific software. Be sure to keep your Business N Synergy by making an investment in technology.

http://www.thebricogroup.com/

Monday, September 10, 2007

Small Business Mistakes are YOU making any???

According to Betty Price of the Price Group there are five fatal flaws that many small business owners make when operating their small businesses. They include:

1. Failure to work from a plan
2. Failure to understand and implement marketing
3. Failure to effectively deal with the people factor
4. Failure to communicate effectively
5. Failure to adapt with the times

Does this sound like you? These are some very important areas that need to be addressed and according to Price small business owners will have a greater opportunity to increase profits and sustain growth.

For details regarding the Price Group’s study view the following link:

http://www.pricegroupleadership.com/

Keeping your Business N Synergy

Thursday, September 06, 2007

New Scam uses the IRS as Cover

The IRS has announced a new scam that has surfaced in some taxpayers’ e-mail accounts. The scam consists of a two-step e-mail that falsely promises recipients they will receive $80 for participating in an online customer satisfaction survey. The e-mail contains a URL linking to an online "Member Satisfaction Survey." In this case, the e-mail notifies the recipient that he or she has been randomly selected to participate in a survey. In return, the IRS will credit $80 to the taxpayer's account. There are references to the IRS in the "from" line and the "subject" line of the e-mail. The link to the survey and a copyright statement at the bottom of the e-mail also reference the IRS. The survey form features the IRS logo.

For more information regarding the scam check the IRS website link:

http://www.irs.gov/newsroom/article/0,,id=173424,00.html


Taxpayers Beware!!!

Business N Synergy

http://www.thebricogroup.com/

Monday, September 03, 2007

IRS is Wrong!!!

According to information from the Treasury Inspector General for Tax Administration (TIGTA), the IRS is often wrong when assisting taxpayers in properly preparing and filing return.

When auditors posed as taxpayers recently, they found that one third of the test returns assisted by the IRS were given incorrect information to prepare the return. The incorrect returns could have been subjected to interest and penalties for underpayment.

The IRS Free File Program also came under scrutiny by the auditors due to problems with the software how it applied the law in some situations. They also found that the Taxpayer Assistance Center visits were also time consuming and usually took multiple tries to have a return prepared.

For more information on the report follow this link:

www.treas.gov/tigta/auditreports/2007reports/200740164fr.html

Keeping your Business N Synergy

http://www.thebricogroup.com/