tag:blogger.com,1999:blog-60494633122860077342024-03-12T19:49:31.034-04:00Making Life Less TaxingI am a CPA & Certified QuickBooks ProAdvisor helping small business owners and self-employed individuals reduce taxes, minimize audit risk, and protect their personal assets. Order my books, Effective Tax Planning for the MicroBusiness & Choosing the Right Structure for Your Business at www.30minutebooks.com and read my opinions in BusinessWeek, Wall Street Journal, LA Times, Chicago Tribune, Newsday, Long Island Business News, Accounting Crossing, BrandWeek, & USAA Magazine.Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.comBlogger49125tag:blogger.com,1999:blog-6049463312286007734.post-36877730922108006122010-06-10T00:35:00.005-04:002010-06-19T12:48:57.475-04:00Moving to WordPressI have officially moved my blog to WordPress. Please visit <a href="http://www.michaelthanley.com/">MichaelTHanley.com</a> where <a href="http://www.michaelthanley.com/">Tax Saving Tips</a>, Marketing Tips, and General Business Advice are posted at least once a day to pickup where my Blogger blog left off:<br /><br /><a href="http://www.michaelthanley.com/">michaelthanley.com</a>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-39476536512962744092010-05-12T18:48:00.004-04:002010-05-12T18:55:07.294-04:00Small Business Credit Cards Excluded From New Consumer Protection Laws<div align="justify">Many of you are aware of the new Consumer Protection Laws in place for credit cards. If you haven't already noticed, take a look at your latest credit card statements...you will notice a simpler layout, more detailed information about payoffs, etc. You also should have received updated Terms from your credit card issuer outlining some of the new benefits such as limits on penalties and limits on interest rate changes.<br /><br />However, small business owners need to be aware that these changes have not been incorporated into the realm of small business credit cards. Unless the credit card issuers are voluntarily putting these limits in place, your business credit card is subject to the same terms (aka no protection under the new Consumer Protection Laws) that it has always been subject to.<br /><br />----------<a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /></div><div align="justify"></div><a href="http://www.30minutebooks.com/effective-tax-planning.html" TARGET="_blank">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html" TARGET="_blank">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-91600502403893748462010-05-11T15:55:00.005-04:002010-05-11T16:10:17.054-04:00School Budgets - How to Avoid Cutting so Many Teachers<div align="justify">Over the past few years, one of the hottest topics on Long Island has been school district budgets. Between increased property taxes, budgets being voted down, and teachers being cut left-and-right, no wonder why there is so much controversy.<br /><br />However, I'm not sure if anyone has taken a true step back to analyze the root problem here:<br /><br />Too many teachers are being hired.<br /><br />Now, before I go any further, I want to preface this post by stating that I am 100% pro-teacher. My wife is a teacher, my parents are both retired teachers, my sister-in-law is a teacher, my aunt is a teacher, many of my friends are teachers, and many of my clients are teachers. I know how hard-working teachers are and I wish there were more teaching positions out there so that there wouldn't be so many amazing teachers who find themselves unemployed or underemployed.<br /><br />That being said, the root economic problem that these school districts are creating is that they are hiring too many teachers to begin with.<br /><br />When you are able to cut 6, 8, 10, 18 teaching positions from a district (which usually amounts to .5 - 2 positions per school when you really analyze the numbers) and still operate business-as-usual without any <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">noticeable</span> changes, the question remains, "why did we need these extra 6, 8, 10, 18 teachers in the first place?"<br /><br /><span class="blsp-spelling-corrected" id="SPELLING_ERROR_1">Obviously</span>, the answer is, "the taxpayers were willing to give us a bigger budget to play with, so we spent every penny and then hired additional teachers with the surplus funds." A more prudent solution would have been to only hire those teachers that were needed and to place those surplus funds into a reserve account that could be used in future years when the budget is tight.<br /><br />Obviously, the districts like having as much manpower at their disposal as possible. However, when you hire 10 teachers in year one and then cut 8 of those teachers in year two, you just damaged the lives of 8 teachers. Had you not hired them in the first place, they would have been motivated to send out resumes and potentially gotten hired by a district that needed them and that planned to offer them a long-term position. Instead, they spent the year happily employed and felt secure in their new position, only to have the rug pulled out from under them just 10 short months later. I would estimate that 2-3 out of those 8 teachers also bought their first house during their first year of employment, locking themselves into a 30-year mortgage with $3k-$4k monthly mortgage payments only to now find themselves at the end of the school year with no job and no <span class="blsp-spelling-corrected" id="SPELLING_ERROR_2">foreseeable</span> way of making those monthly mortgage payments.<br /><br />Teachers don't want to lose their jobs.<br />Taxpayers don't want to be responsible for teachers losing their jobs.<br />Taxpayers don't want to pay unnecessary taxes.<br /><br />School districts need to stop this revolving door policy of 1-year and 2-year teaching careers, stop cutting 6, 8, 10, 18 teaching positions during tight-budget years, and start running their districts more like a business.<br /><br />Solution - In years when money is flowing freely, hire only those teachers that you need and put any excess funds into a reserve account. In years when money is tight, use those reserve funds to save the jobs of the teachers that you need.<br /><br /><br />----------<a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /></div><div align="justify"></div><div align="justify"><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the <span class="blsp-spelling-error" id="SPELLING_ERROR_3">MicroBusiness</span></a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-26049478859797525152010-05-09T11:13:00.006-04:002010-05-11T16:10:29.693-04:00How to hide Farmville and other annoying updates from your facebook News FeedSorry moms, but this is going to steal your Mother's Day thunder:<br /><br />To hide Farmville updates and other facebook game updates from appearing in your news feed, follow these simple steps:<br /><br />1) Open your News Feed and look at the upper right corner of the update that you want to get rid of and you will see a button that says "Hide."<br /><br />2) Click the Hide button and two more buttons will appear that will give you the option to either hide all updates from that particular friend or all updates from that particular application<br /><br /><em>In addition to helping you block these game updates, this also helps to hide updates from your friends who constantly post annoying status updates (like the updates that contain the word "muah," updates about The Bachelor, or some type of countdown to some special event coming up in their life).</em><br /><br />Everyone can now enjoy their Mother's Day and stop hating their friends who play Farmville!<br /><br />Now, if we can just figure out how to block people from posting gifts to your wall....<br /><br /><br /><br />----------<a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><div align="justify"></div><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com1tag:blogger.com,1999:blog-6049463312286007734.post-39437905141976101752010-04-30T21:24:00.008-04:002010-05-11T16:10:52.826-04:00You can learn a lot about someone from their iPhone Home Screen<div align="justify"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgy2m18JR8L1kq1wv3J6kfZVX1krwK4UkImbSUomBDkG6Lx_-DnA_pGRjH4wAT8gfhZWNABeUWdp2PylvsbOkbmWQPJFsX3dVmobJvks1KkUBQphDhKD60UN71FntNElDGIvPotLzLAoPin/s1600/iPhone.jpg"><img id="BLOGGER_PHOTO_ID_5466106770650548194" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 134px; CURSOR: hand; HEIGHT: 200px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgy2m18JR8L1kq1wv3J6kfZVX1krwK4UkImbSUomBDkG6Lx_-DnA_pGRjH4wAT8gfhZWNABeUWdp2PylvsbOkbmWQPJFsX3dVmobJvks1KkUBQphDhKD60UN71FntNElDGIvPotLzLAoPin/s200/iPhone.jpg" border="0" /></a>You can learn a lot about someone from checking out what Apps they have on their iPhone Home Screen...<br /><br />To the left, you can see what my current iPhone Home Screen looks like. Across the top row...the Google, Facebook, and LinkedIn Apps are pretty self-explanatory...the Dragon Dictation App is the best speech-to-text or voice-to-text App available for the iPhone. In row two, Echofon is my favorite of all the Twitter account managers, WordPress to manage my blog, and Logmein to access my computer remotely. In row three, I deviate a bit from the business world with the IMDb App. I think this is the best App available for the iPhone and I like the IMDb App better than I like the actual IMDb website.<br /><br />If you want to take a screenshot of your iPhone Home Screen to share it with your friends and colleagues, browse to your iPhone's Home Screen and press the Home button and the Sleep/Wake button at the same time. The screen will flash and the camera click will play. You can then view the screenshot in your Camera Roll.<br /><br />----------<a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-14023560121966062002010-04-30T18:32:00.004-04:002010-05-11T16:11:00.268-04:00The Spam Industry - Really?!?!<div align="justify">So, this entire industry exists that revolves around people, companies, and automated bots sending out spam every minute of every day. Common sense says that an industry will only exist if there is money to be made.<br /><br />My question is...who are these consumers who are shopping by clicking on links within spam e-mails, spam tweets, etc??<br /><br />Next time someone tries to sell you Viagra, Cialis, $99 vacations to Disney, a $199 iPad, or a KFC Double Down through a text message, a tweet, or an e-mail, please ignore it so that we can try to put an end to this spam industry.<br /><br /><br />----------<a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /></div><div align="justify"></div><p align="justify"></p><p align="justify"></p><div align="justify"><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-52462865421635958032009-11-05T15:21:00.000-05:002009-11-05T15:22:12.532-05:00When to DIY and When Not to DIY<strong>Case Study: When to DIY and When Not to DIY</strong><br /><br />I have a client who has worked as a Full-Charge Bookkeeper for various companies for over 20 years. A couple of years ago, she started up a side business and hired me to prepare her 2007 corporate tax returns (her first year in business). Then in 2008, she decided to save some money by doing them herself. <br /><br />Last week, she came to my office and showed me a notice from the IRS for approximately $675 worth of penalties & interest and another notice from NYS for $500 worth of penalties & interest. While reviewing the corporate tax returns that she self-prepared and filed, I also discovered that she had overpaid her taxes by $1,600. <br /><br />So, by trying to save my $500 year-end corporate tax return preparation fee, she cost herself $2,775 ($1,600 of unnecessary tax + $1,175 of penalties & interest) that she shouldn't have had to pay. <br /><br />I’m fixing all of the mistakes she made by filing amended tax returns. I will be able to get her back $1,600 and some of the penalties, but the majority of the penalties & interest will stick and during the amendment process, her audit risk will be extremely high due to the fact that we’re asking for almost all of her 2008 tax bill back in the form of a refund. <br /><br />And this is a woman who has been a professional bookkeeper for over 20 years! Imagine what happens when small business owners with even less bookkeeping/tax experience attempt to do the same!<br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-45037259629041720632009-11-03T21:06:00.003-05:002009-11-03T21:13:37.870-05:00Why I can't stand the "my 401(k) became a 101(k)" quoteOver the past year or so, a popular new phrase has emerged that has people jokingly say that "my 401(k) became a 101(k)."<br /><br />While it was clever at first, like all funny quotes, it became overused quickly. However, that is not what bothers me about it...<br /><br />Although a more accurate statement would be "My 401(k) became a 201(k)," what really bothers me the most is that people are still saying it. That leads me to believe that people are not aware of their current financial situation and I blame two things for it:<br /><br />1) After opening depressing brokerage account statement after depressing brokerage account statement last year, many people became programmed to stop opening their statements. Therefore, they have no idea where they stand these days<br /><br />2) The media has been VERY diligent at telling us how miserable our lives have become over the past couple of years, but they have not yet started to tell us how things have turned around and that the economy is heading in the right direction<br /><br />So, for those of you who have not been following the stock market, here is what the quote should be at the moment:<br /><br /><strong>"My 401(k) became a 201(k) and now it's back up to a 301(k)."</strong><br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-69638453609516320232009-11-01T12:12:00.001-05:002009-11-01T12:14:10.602-05:00Buy Real Estate Now<strong>Buy Real Estate Now</strong><br /><strong></strong><br />With real estate values approaching all-time lows and interest rates near their all-time lows, now is the perfect time to look at acquiring real estate. Here are some groups of people who can benefit:<br /><ul><li>Business owners who want to stop paying rent and own their own building/office/store/shop/etc. </li><li>First-Time Homebuyers </li><li>People looking to purchase residential rental properties (especially multi-family units)</li><li>People looking to purchase commerical rental properties</li></ul><p>If you fit into any of the above categories and would like to explore your options, respond to this e-mail and we can discuss how you can make the most out of this historic real estate market!<br /><br /></p><p><strong>Why business owners should own their own building:</strong><br /></p><ul><li>In most cases right now, your monthly mortgage payment may be lower lower, similar, or only slightly higher than your current monthly rental payment </li><li>When you rent, you are subject to rent increases. When you own the building and you have a fixed-rate mortgage, you will lock in your monthly payment. The only item that will increase over time will be your property taxes. For example, if you are paying $1,000/month rent right now, you will most likely end up paying $2,650/month for the same space 20 years from now. However, if you lock in a $1,000/month mortgage payment, you will be paying $1,000/month 20 years from now. </li><li>Once your mortgage is paid off, you won't have to worry about monthly mortgage payments or rental payments. All you have to do is pay your property taxes. </li><li>When all is said-and-done and you are ready to retire or sell your business, instead of simply walking away from your lease, you can either sell your building (most likely for a lot more than you paid for it) or hold it and generate a monthly income stream by renting it out.<br /><br /></li></ul>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-26291852103901444842009-11-01T12:08:00.001-05:002009-11-01T12:11:41.166-05:00New Law Takes Effect 10/26/09<strong>New Law Takes Effect 10/26/09</strong><br /><br />Effective 10/26/09, ALL employers in New York must provide the following information IN WRITING to any new hire:<br /><ul><li>Pay Rate </li><li>Changes in Payday </li><li>Earnings Statement (Paystub) </li><li>Time Off Policies </li><li>Termination</li></ul><p>Additionally, all employers must obtain WRITTEN acknowledgement from each new hire that they have been provided with each of the above items AND employers must meet a minimum recordkeeping requirement by keeping detailed payroll records for at least three years.<br /><br /></p>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; 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By far, it's the Autocorrect feature where the iPhone decides to step in and say "I'm smarter than you, this must be what you were trying to type."<br /><br />Everytime I type "me" the iPhone Autocorrects to "mr."<br />Everytime I type "so" the iPhone Autocorrects to "SP."<br />One time I typed "check" and the iPhone Autocorrected to "Checkov."<br /><br />So I did a little research and here is how you "program" the iPhone Autocorrect feature:<br /><br />1) Open up a New Window from within Safari<br />2) In the Google search box, start typing the words that the iPhone Autocorrect has a tendency to mistakenly autocorrect.<br />3) When the iPhone attempts to Autocorrect you, tap the little "x" in their suggestion box<br /><br />For some reason, this is the only way to currently overwrite the iPhone’s Autocorrect dictionary. Hopefully, Apple will recognize this problem and create a simpler solution (a way to access the dictionary, a way to overwrite the dictionary from other programs/apps/etc, or an App to overwrite the dictionary).<br /><br />It frustrates mr SP much that there is no other way to Checkov the dictionary. So, until then...this will have to do.<br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com14tag:blogger.com,1999:blog-6049463312286007734.post-41185662994149369392009-10-29T20:59:00.005-04:002009-10-29T21:13:02.903-04:00Senator Flanagan Calls for Repeal of MTA TaxThe newest in a long line of taxes nagging small business owners is the New York State MTA Commuter Tax. With the intention of having small businesses supplement the always-running-at-a-deficit MTA (Metropolitan Transportation Authority...the organization in charge of running the LIRR, NYC Mass Transit, NYC Subways, Metro-North, Bridges & Tunnels, etc.), this tax has proven to be nothing short of a mess since it was first introduced...<br /><br />It started off as a huge battles as various state politicians weighed (aka argued) the benefits of supplementing the MTA system with the downside of adding yet another tax on small businesses in an already weakened economy.<br /><br />It ended up being one of the most poorly administered taxes in the history of NYS (and possibly the country). Had the tax been formally imposed back when it was introduced, the first filing would have been due on April 30th, 2009 and it would have only covered the month of March. It would have been a nice, simple one-month introduction to the tax that would have had the average small business with $100,000 of annual payroll paying approximately $28. Instead, the April 30th filing deadline came and went without the state making a decision of how they would implement the tax (as a separate line item on the NYS-45 quarterly payroll tax return or via a separate filing)...then the second filing deadline of July 31st also came and went with still no decision on how to implement the tax.<br /><br />What we ended up with was a November 2nd filing deadline that now covers 7 months worth of payroll and that same company that would have only had to pay $28 the first time around is now stuck paying $198. Talk about bad first impressions...<br /><br />This tax has been a mess from concept to implementation and it is the last thing that a small business owner needs at a time when every last dollar counts.<br /><br />In a press release on October 15th, NYS Senator John Flanagan (R-2nd Second Senate District), who represents Smithtown, Huntington, Northport, E. Northport, Stony Brook, Centereach, Commack, and Hauppauge, among others, called for a repeal of the MTA Tax.<br /><br /><br />You can read a copy of the press release by clicking on this link: <a href="http://www.nysenate.gov/press-release/senator-flanagan-joins-small-businesses-and-non-profits-call-repeal-mta-payroll-tax" target="blank">http://www.nysenate.gov/press-release/senator-flanagan-joins-small-businesses-and-non-profits-call-repeal-mta-payroll-tax</a><br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-27883316240839180422009-09-10T23:49:00.002-04:002009-09-11T00:02:10.701-04:00Don't Be Greedy<div>Last year, when I was looking for an office building to purchase, I had a verbal agreement with the owners of a building here in Smithtown to purchase their building for $950,000. The best part of the deal for them was that I had found them before they had hired a realtor, which meant that they were going to save approx $45,000 in broker fees.<br /><br />They were selling the building because they had gone out of business...tying up some loose ends due to their business closing lead to a two week delay from the time we reached a verbal agreement to the time we were putting everything in writing.<br /><br />Using the strong-arm tactic of "we have someone else bidding higher, if you still want the building, you're going to have to pay more," they now told me that the purchase price was $1,050,000 ($100,000 higher than we agreed upon), plus they were now throwing in several other clauses/stipulations that were never discussed prior and were all obviously detrimental to me.<br /><br />Frustrated with their desperate attempt at negotiating, I decided to take the weekend to look at some other buildings. Luckily I did and I found a building just a few blocks away that was a much better fit for my offices (more office space, better parking, great location, etc.) for a lower purchase price.<br /><br />When I informed the owners that I would be walking away from their deal, they started to bring their purchase price back down to the $950,000, but it was too late.<br /><br />It is now 17 months later and I drive past their building at least twice a day (on the way to my office and on the way home from my office)...the "For Sale" signs have been up ever since...they are now on their second realtor and there are "Price Reduced" signs now up on the lawn as well. As of today, the asking price is $925,000.<br /><br />So, to take a step back and analyze this scenario, by being greedy, these owners have so far lost $142,000 between 17 months worth of mortgage interest, real estate taxes, maintenance, utilities, and the fact that they will now have to pay a broker fee if & when they do sell their building. This $142,000 loss assumes that they sell their building tomorrow for full asking price, which in this economy, I don't think will happen. I forsee this building selling for somewhere in the low to mid $800,000s sometime at the beginning of 2010.<br /><br />Moral of the story: Don't be greedy, especially in an economy like this. Know when a good deal is staring you in the face and make it easy for your customer/client/buyer to do business with you.<br /><br /><br /><br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="margin: 0px 10px 10px 0px; float: left; width: 48px; height: 48px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="margin: 0px 10px 10px 0px; float: left; width: 48px; height: 48px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="margin: 0px 10px 10px 0px; float: left; width: 48px; height: 48px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="margin: 0px 10px 10px 0px; float: left; width: 48px; height: 48px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="margin: 0px 10px 10px 0px; float: left; width: 48px; height: 48px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="margin: 0px 10px 10px 0px; float: left; width: 48px; height: 48px;" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div></div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-32869404217290790022009-08-26T16:37:00.001-04:002009-08-26T16:37:13.712-04:00BlogTalkRadio Share Show Widget<img style="visibility:hidden;width:0px;height:0px;" border=0 width=0 height=0 src="http://counters.gigya.com/wildfire/IMP/CXNID=2000002.0NXC/bHQ9MTI1MTMxODI3NzQ1MyZwdD*xMjUxMzE4NDQyOTM3JnA9NDUwOTcyJmQ9Jm49YmxvZ2dlciZnPTEmbz*3ZTZjMmFhNzJlMTQ*OTYwYTY*NjQ1ZDEyNGE*NDkyOQ==.gif" /><embed src="http://www.blogtalkradio.com/BTRPlayer.swf?displayheight=&file=http://www.blogtalkradio.com%2fPage-Readers%2fplay_list.xml?show_id=665454&autostart=false&shuffle=false&volume=80&corner=rounded&callback=http://www.blogtalkradio.com/FlashPlayerCallback.aspx&width=215&height=108" width="215" height="108" type="application/x-shockwave-flash" pluginspage="http://www.macromedia.com/go/getflashplayer" quality="high" wmode="transparent" menu="false"></embed>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-48179234982348524982009-08-05T16:53:00.002-04:002009-08-05T17:03:39.032-04:00MicroBusinesses are Growing - Don't Ignore Them!!Microbusinesses are one of the largest and fastest growing segments of the US Economy, yet far to many service providers ignore them.<br /><br />For example, I recently wrote a book, <em><a href="http://www.30minutebook.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a></em>. It was not until after I finished the book and started to market it that I discovered that I had written the first (and so far, only) tax planning book that talks to the specific needs of the MicroBusiness. Why are so many people ignoring this market??<br /><br />Some facts about MicroBusinesses & Small Businesses:<br /><br /><ul><li>The Small Business Association's Office of Advocacy reports that firms with 500 or fewer employees have generated between 60 and 80% of new jobs each year over the past decade. </li><li>90% of all businesses in the US employ 5 or fewer employees</li><li>63% of all businesses in the US have $50,000 or less in annual revenue</li><li>New York, California, and Texas have the largest percentage of MicroBusinesses in the US</li><li>There are 22.5 Million MicroBusinesses in the US</li><li>94.7% of all businesses in the US have 10 or fewer employees</li><li>.07% of all businesses in the US have 500 or more employees</li><li>75% of all small businesses have no employees other than the owner(s)</li></ul><p><br /><br /></p>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-12363551965638728862009-07-19T22:56:00.003-04:002009-07-19T22:57:56.968-04:00The #1 Thing Your Tax Preparer Won't Tell You<strong>The #1 "Thing Your Tax Preparer Won't Tell You" From Smart Money's Top 10 Things Your Tax Preparer Won't Tell You</strong><br /><br />"A big name doesn't always mean better service."Roughly 135 million Americans file tax returns, and of those, two-thirds pay for help. While solo acts like <a class="kLink" id="KonaLink0" target="undefined">CPAs</a> and so-called enrolled agents have plenty of clients, almost 20% of taxpayers go through a big franchise like H&R Block, <a class="kLink" id="KonaLink1" style="BORDER-BOTTOM: #009900 1px solid" target="undefined">Jackson Hewitt</a> or Liberty Tax Service to get their refund — last year an average $2,255 per return. Problem is, tax preparation and advice depend on the preparer, and in a system of franchises, that means thousands of seasonal employees and limited quality control.<br /><br />The results can be dangerous. <strong>When staffers from the Government Accountability Office went undercover to get returns done by the big chains, they found "nearly all of the returns prepared for us were incorrect to some degree," according to the report.</strong> Worse yet, recently filed lawsuits allege that the owners of 125 Jackson Hewitt franchises cost the government $70 million in tax fraud and created an environment "in which fraudulent tax-return preparation is encouraged and flourishes," according to the Department of Justice. Jackson Hewitt says it stands behind its compliance procedures as well as its nationally standardized educational curriculum.<br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-48880410697955657072009-07-19T22:37:00.003-04:002009-07-19T22:40:48.029-04:00Accrual Basis vs. Cash BasisQ: I own a small business. How do I know if the Accrual Basis or the Cash Basis is right for me?<br /><br />A: The simplest rule of thumb in determining which accounting method is better for your business (assuming minimizing taxes is your primary goal), is:<br /><br /><ul><li>If at the end of the year, your A/R (Accounts Receivable) is typically higher than your A/P (Accounts Payable), the Cash-Basis method would be your best bet in order to minimize taxes.<br /></li><li>If at the end of the year, your A/P is typically higher than your A/R, the Accrual-Basis method would be your best bet in order to minimize taxes.</li></ul><br />Of course, this is just a generalization. Other factors such as Inventory may play a role in the final decision. Consult with your CPA before making a final decision, but just keep the above facts in mind as your general guideline.<br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-82877117262469627992009-07-15T17:55:00.000-04:002009-07-15T17:56:43.200-04:00Worried that your employees are stealing time playing around on Facebook or Twitter?<strong>Worried that your employees are stealing time playing around on Facebook or Twitter?</strong><br /><br />With so much new web-based technology out there, it becomes easier-and-easier to "play" at work. While larger companies combat this by blocking certain websites or by monitoring employee keystrokes, it is difficult for the smaller businesses to avoid this lost time. Here's an interesting approach...<br /><br />...certain things are bound to happen. Employees taking some "me time" during work is one of those things. If you have the right employee, I would empower them to create social networking profiles & groups for you and your business and encourage them to spend 30-45 minutes each day updating these sites. This may satisfy their social networking cravings while giving your small business a boost as well.<br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-62515940426685872452009-07-07T22:42:00.004-04:002009-07-07T22:48:30.455-04:00Tax Returns vs. Tax RefundsTwo of the most commonly mixed-up terms I come across when speaking with clients are the terms "tax return" and "tax refund." The most common mistake people make is using the term "tax return" when speaking about their "tax refund."<br /><br />To clarify the difference between the two, here is an exerpt from the glossary of my upcoming book, Choosing the Right Structure for Your Business, due out in the fall of 2009. You can receive 40% off plus free shipping if you preorder this book at <a href="http://www.30minutebooks.com/choosing-structure.html">http://www.30minutebooks.com/choosing-structure.html</a>:<br /><br /><br /><strong>Tax Refund:</strong> The amount of money that a business or individual receives as a result of overpaying their taxes throughout the year.<br /><strong><br />Tax Return:</strong> The actual document that is filed to report income/expenses of a business or individual.<br /><br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-9893659778327467352009-07-07T21:44:00.006-04:002009-07-07T22:25:45.263-04:00Tax Liens vs. Tax LeviesHopefully, you will never have firsthand experience with either tax liens or tax levies. However, if you do, here is a quick explanation so that you know the main differences between the two:<br /><br /><strong><u>Tax Lien</u></strong><br />A tax lien is a claim that is filed against your property. Typically, a tax lien is filed against your bank account. This instructs your bank to "freeze" your money so that you do not have access to it until the lien is cleared.<br /><br /><strong><u>Tax Levy</u></strong><br />A tax levy occurs when your property is actually taken from you. Again, this is typically done through your bank account whereby your funds are removed from your bank account to pay the taxing authority.<br /><br /><div><br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div></div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-62013849478111013582009-07-06T11:30:00.004-04:002009-07-07T22:28:23.872-04:00Quick Tips: Small Biz Tax Prep and Keeping Your Fees Low!Reading Diana Ransom's article, <a href="http://www.smsmallbiz.com/taxes/Quick_Tips:_Small_Biz_Tax_Prep.html">Quick Tips: Small Biz Tax Prep </a>on the SmartMoney Small Business site inspired me to take a few of her thoughts and expand upon them.<br /><br />As a CPA, here are a few tips to help keep your accounting fees as low as possible:<br /><br />1) Opt for QuickBooks over Quicken, Peachtree, any industry-specific accounting programs, or any lesser-known accounting programs. Today, just about every CPA out there is at least familiar, if not well-versed, with QuickBooks and we can simply import your data into our system. This eliminates the data-entry portion of our services and allows you to only pay us for our expertise...tax planning and tax preparation.<br /><br />2) When filing your expense receipts, keep them in two separate envelopes:<br />Envelope #1 - Everything you paid for with cash, a personal check, a personal debit card, or a personal credit card<br /><br />Envelope #2 - Everything you paid for with a business check, business debit card, or business credit card<br /><br />This way, all you need to do is take Envelope #1 to your accountant at the end of the year (he will already see all expenses in Envelope #2 when reviewing your business credit card & bank statements.<br /><br />3) If your business is inventory-intensive, do not rely on the QuickBooks inventory module. It is by far the weakest component of the QuickBooks program. Your best bet is to track inventory through separate software or use a program that interfaces with QuickBooks, such as Fishbowl.<br /><br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-85615642698671266392009-07-06T11:15:00.004-04:002009-07-07T22:28:39.176-04:00Top 10 Bookkeeping MistakesI came across this article about the <a href="http://www.smsmallbiz.com/taxes/Top_10_Bookkeeping_Mistakes_by_Small_Businesses.html">Top 10 Bookkeeping Mistakes </a>on SmartMoney's Small Business Site and wanted to comment since it was such a good article.<br /><br />As a CPA who specializes in helping small business owners, I love this article. #2, #4, and #5 really stand out in my mind as the three most critical and most common mistakes on the list.<br /><br />#2-Doing it yourself. Many business owners have the ability to generate a set of books...they will provide it to a tax preparer (or worse, prepare their tax return themselves). As long as they are happy with the amount of their refund and they do not get audited, they will feel that they did a good job. However, "happy with your refund" and "didn't get audited" do not necessarily translate to "the best possible tax return." The two biggest problems with the DIY approach include a higher than usual audit risk and the loss of certain credits/deductions that you would have received if you had a pro do it for you.<br /><br />#4-Not properly classifying employees. Too many small business owners classify their employees as "independent contractors" in an effort to avoid paying payroll taxes. However, if the IRS or your state decides to challange your classification (which is fairly common when your ratio of 1099s to W-2s issued for the year is too high), you will pay back all the taxes you saved plus steep penalties, fines, and interest charges.<br /><br />#5-Lack of communication (especially the part about paying someone a bonus and not reporting it). This is very common at the end of the year with Christmas bonuses...business owners pay their employees every week through a payroll service and then all of a sudden at the end of the year, they think it's okay to just write their employee a check with no taxes taken out and without notifying their payroll service. A mistake that could be costly to both the employer and the employee!<br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-21606564614869472032009-06-30T15:25:00.001-04:002009-07-07T22:29:46.935-04:00Scary News About Your Spending Habits and How They Affect Your Credit ScoreCredit card companies have always tracked their cardholders' spending for three main reasons:<br /><br />1) To be able to market goods/services to you that your profile indicates you may like<br /><br />2) To detect fraud<br /><br />3) To assist law enforcement agencies<br /><br />However, credit card companies have now found a fourth, and very scary thing to do with this information...determine your creditworthiness...Here are some trends in your spending that could result in a lower credit score and the reduction/elimination of your credit card limits:<br /><br />1) Shopping at discount stores/thrift stores and purchasing generic brands<br /><br />2) Shopping at the same stores that other people who have defaulted on their credit card debt shop at<br /><br />3) Using your credit cards for the vices...cigarettes, alcohol, massages, casino gambling, online gambling, bail bond services<br /><br />Congress is now investigating credit card companies for utilizing these practices in determing to lower credit limits, cancel credit lines, and deny applicants for credit. During 2010 and 2011, we can expect to see some public hearings about this issue. In the meantime, it seems like "what's done is done" but that credit card companies will be more careful in using this sensitive information (at least until we hear the results of the congressional hearings).<br /><br /><br /><div>----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-79394283972610536612009-06-22T21:39:00.009-04:002009-07-07T22:27:50.719-04:00Effective Tax Planning for the MicroBusinessOn Monday, 6/1 my book about effective tax planning for the small business owner & self-employed individual was released (see below for more info). While the book is focused mostly on offering tax planning tips and tax savings strategies to those who currently participate in active tax planning, I started thinking more and more about how to educate people of the benefits of implementing a tax plan.<br /><br />In my opinion, everyone who owns a business or who is self-employed (gets paid via a 1099, has a "DBA," etc.) should be consulting with a CPA in order to put together a tax plan around the middle of each year. The simple action of deciding to start implementing a tax plan is the most important part of the process...as great as my strategies are, they mean nothing to the businness owner who does not actually implement them through a tax plan.<br /><div><br /></div><div align="justify"></div><div align="justify"><br /></div><div align="justify"><em>Effective Tax Planning for the MicroBusiness</em> is available in bookstores nationwide for $24.95 plus shipping & handling. However, if you click on the link below, you can purchase your copy for $19.95 plus FREE shipping & handling:</div><div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">http://www.30minutebooks.com/effective-tax-planning.html</a><br /><br /><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!</div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0tag:blogger.com,1999:blog-6049463312286007734.post-22772638446343975322009-03-19T10:46:00.006-04:002009-07-07T22:28:52.595-04:00New Thought About How Artificial Sweeteners Actually Make You Fat<div align="justify">Yes, I know this is a "tax & accounting" driven blog...so, why am I writing about artificial sweeteners?</div><div align="justify"></div><div align="justify"></div><br /><div align="justify">1) I have a unique and interesting viewpoint on them that I would like to share with my readers</div><br /><div align="justify">2) The best investment that anyone can make is an investment in their health. With the powers of compounding interest, adding just one year to your life could result in putting hundreds of thousands of additional dollars in your pockets before you die that you can pass on to your heirs.</div><br /><div align="justify"></div><div align="justify"></div><div align="justify">With that being said, here is my take on artificial sweeteners...</div><div align="justify"></div><div align="justify"></div><br /><div align="justify">Everyone I know who opts for an artificial sweetener over sugar does so for weight loss or weight control reasons...because unlike sugar, artifical sweeteners contain no calories and negligible amounts of carbohydrates. However, it is my non-medical opinion that artificial sweeteners such as those found in "diet" soda, other "diet" drinks, chewing gum, "low-fat" and "fat-free" items, etc. actually prevent weight loss and weight control.</div><br /><div align="justify"></div><div align="justify">Health experts have argued this citing two main reasons to avoid artificial sweeteners and I would like to bring forth a third reason, one that makes more sense to me and one that hit home about a year ago causing me to swear off artificial sweeteners for good.<br /></div><div align="justify">The two main reasons why health experts say we should avoid artificial sweeteners:</div><div align="justify"></div><div align="justify"></div><br /><div align="justify">1) They contain chemical compounds that "are not good for us." Between causing cancer and other damage to the kidney and liver, they are toxic and should not be ingested</div><br /><div align="justify">2) They cause us to crave actual sugar. By tasting sweet, our brain is triggered to send signals to our body to "get ready to digest sugar." When that sugar never comes, our body is left with insulin and other hormones that did not get to do their job, so we begin to crave actual sugar, causing some of us to give in to those cravings and eat sugary foods.</div><div align="justify"></div><br /><div align="justify">While both of these arguments are valid, I don't think either one is strong enough to actually prevent people from giving up artificial sweeteners in favor of sugar.</div><div align="justify"></div><br /><div align="justify">However, here is the third argument, the one that resulted in me giving up Sweet'N Low and other artificial sweeteners:</div><div align="justify"></div><div align="justify"></div><br /><div align="justify">Artifical sweeteners are not natural products and they have not been around long enough for humans to develop the ability to efficiently digest them. Therefore, when you ingest artificial sweeteners, your digestive system has to spend so much time and energy focusing on trying to break down these chemicals, that it does not get to spend enough time digesting fats and simple carbohydrates. The more fats and simple carbohydrates that go undigested, the fatter you will get. </div><div align="justify"></div><div align="justify"></div><br /><div align="justify">Whether you eat artificial sweeteners or not and whether or not you choose to make any changes to your artifical sweeteners because of this argument, I do hope that you take the time to change at least one thing about your health. A step towards good health is certainly a terrific investment. And in an economy like this, we're all looking for the next great investment!</div><div align="justify"> </div><div align="justify"><br />----------<br /><br /><br /><a href="http://www.facebook.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334077491207122" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjrUxJnOPai7tS_VreeUbUGp5X6DG2Wi18OklzKXU6oyCNIjyM99C1kbwzgIoDNB6Ia4pa2bdx-dZ1u92zC6atFW4YACKWJCmZBB8dE56XIyRKotY1zgjXkLjwbl7z4eMAIRjvOjeaDVYB/s200/facebook2+48x48.png" border="0" /></a><a href="http://www.linkedin.com/in/hanley" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334593537871570" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu3LuVnFsysjT0g2ISqJerzZSSGoBmISyXm1sSleDJ1TJn2QPddM0xq3-gi98SimgDdtchL9I2ME-z_3uJBc9x71jXqmdC8xQCfIn6fRnlWmaciLAfis5SrRd7YLwbw52DNn3ZD0tfXFKj/s200/LinkedIn2+48x48.png" border="0" /></a><a href="http://twitter.com/mhanleycpa" target="_blank"><img id="BLOGGER_PHOTO_ID_5350334264321170850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFcXgc-hQJ6cKKUk-M8WdTFhLcnuKs-TY3ygcYMVzRnjHSrSzDnb-d-0ao_bE9jFTVoSXTvd3glGuoEHTrdoIBRIiUqWcUFxD1e2ZljzSqrzFDfE5luPbVQ_a6-9cgPhdPiE5OqkDkqw4/s200/twitter2+48x8.png" border="0" /></a><a href="http://mhanleycpa.blogspot.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5352102504597543842" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeU3vWPg4g7p5IR7kceJSCFrESyYQhmgMZA2eXH62V4xWCVzHS7wnxiEsU8cMihdilomkyYtXykSTVt1jcGOP-YdIuya7MBWxRDSa4ZyL_QaUBJceTKbflqsYGnFJQaR6TzxqcmOgzdFh3/s200/blogger.png" border="0" /></a><a href="http://www.30minutebooks.com/" target="_blank"><img id="BLOGGER_PHOTO_ID_5355898783546333906" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmfflvv2uzrTAWMHmJTsxMAcuHcBGV_eAYPDL43IFVm-N3y8lM-Dlp-fZ3uFlYvR_ULwgk9moWxEDLVl9ENgiw_Ng2XnRKhabPPiPuQAUtjndFQqGBL1A2eUdJQWdntUd7dwtyPFLlHh6_/s200/30+Minutes.png" border="0" /></a><a href="http://www.mhcpafirm.com/" target="_blank"></a><a href="http://www.mhcpafirm.com/"><img id="BLOGGER_PHOTO_ID_5355898909328924770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 48px; CURSOR: hand; HEIGHT: 48px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0ThjNUMwom8MqA5ntMwhTESGE8FZr7kEWIXDgIsFvJRL83tD8LFNoAc-JjAy_4WzRe3GPyCSMHHWJYrTCLKeLCX0FUI6qb-rd5qYTPWjOSTtLhDS3H13U31rsfUfGUjSCEUj3P9Hqe3da/s200/Merl+%26+Hanley.png" border="0" /></a><br /><br /><br /><br /><br /><div align="justify"></div><br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Effective Tax Planning for the MicroBusiness</a> is in stores now.<br /><a href="http://www.30minutebooks.com/effective-tax-planning.html">Click on this link </a>to receive 20% OFF plus FREE Shipping!<br /></div>Michael Hanley, CPAhttp://www.blogger.com/profile/04501269754454654224noreply@blogger.com0