Therefore, if you cannot pay, you can make payment arrangements. The IRS will allow you to pay your balance off in monthly installments. As long as you make your monthly payments as scheduled, they will not bother you.

Here’s how it works.  You determine how much you will be able to pay each month and what day of the month you’d like your payment to be due.  You then submit this information to the IRS and they have the option to approve or deny your installment.  However, most installments are approved.  Others are slightly altered.  If the payment amount you are requesting is too low, they might suggest you pay more.  Keep in mind, when requesting an installment agreement, make sure you request a monthly payment you can afford. It is better to pay more than less. If you miss a payment or pay less than your scheduled amount, it forfeits the installment agreement. If that happens, you will have to setup another installment agreement. Although, setting them up is not difficult, they are not free.   Each time you have to setup an installment agreement there’s a fee.

You can request an installment agreement online, over the phone or by completing Form 9465 and mailing it in.

Anyway, I just wanted to send out a quick note to remind you of the special event that’s happening this weekend. My 40^th Birthday Party!!!

I’m doing something a little different this year. I have been blessed to have everything I need and a lot of the stuff I want. So instead of bringing a gift for me, I’m asking that you make a donation to a non-profit organization that I’m starting.

I really hope you can make it….but if you can’t…please find it in your heart to make a donation.

The organization is called Raising An Entrepreneur, Inc. This organization is a faith-based organization dedicated to teaching and training young people (ages 13 -21) in the areas of money management and business development. Our first session is scheduled to begin in May of 2012. (Stay tuned for details on how you can get the youth in your life involved).

If you’d like to make a tax deductible donation you may do so online with a credit card or by mailing a check or money order to:

Raising An Entrepreneur, Inc.
P.O. Box 1383
Snellville, GA 30078

If you are coming (and haven’t RSVP-ed) please let us know. If your plans have changed, please let us know also.

RSVP

As your accountants, we are greatly appreciative of the trust you place in us to serve you and handle your taxes with care and confidence. We want you to know that keeping data of such a sensitive nature safe and secure is always a top priority for us.

With our current system, we heavily rely on e-mails to exchange important information such as W-2s, QuickBooks files, tax returns, etc. With hackers getting more sophisticated, using email in this way makes you far more vulnerable to identity theft. To address this security risk, By The Book Accounting, Inc. is in the process of creating an online environment that’s safer and more convenient for you. We are instituting web-based client portals that will give you 24/7, secure access to your tax returns and other financial documents.

You will have your own secure log-in ID and password and it will be just like logging into your banking account! Never again will you have to ask and wait for a copy of your return to send to your banker, to your child’s school or that certification entity. You will always have the convenience of retrieving those documents, whenever you need them.

We know that the writing is on the wall, and just a few years down the road, we (accounting professionals) will be REQUIRED to provide more secure ways of transmitting information. We choose to get ahead of the curve.

So over the next few weeks, we will be setting up client portals (upon request). There is a one-time set-up fee of $50. However, we are offering an early bird discount. If you request your account portal during the month of September, we will give you a huge discount (50%). Pay for your portal by September 30, and it will only cost you $25. Establishing a client portal will not be mandatory. However, please keep in mind that we will no longer email tax returns and other confidential documents. For our non-portal clients, we will have to mail (or you may pick up) your requested documents. We will be charging handling fees and/or postage for this service.

>>>GET YOUR PORTAL NOW<<<

After so many questions about the process, I decided to develop a coaching program to show others step-by-step how to get it done. I know becoming an author has truly changed my life personally and professionally, and I want the same positive transformation for you!

Interested in the program? Well, I’d like to hear about what you need. If you want to become an author, AND you are serious about making the investment of time and money, please take this quick survey to help me tailor a program that’s right for you.

>>>QUICK SURVEY<<<

If you still have questions, please don’t hesitate to give us a call.

Then one day, someone asked me a few questions:  He said, “Do you really care about small business owners?”  I said “YES!” Then he said, “Do you believe your book will change lives?” I said, “Yes.” Then he said, “Well why haven’t you written it?” That last question hit me like a ton of bricks.  It was at that moment that I realized I could continue to make excuses or I could make progress.  I knew I could not make both.  So I “scheduled” time to write.  I invested six weekends of my time and I got it done.

What about you?  What great idea, invention, or concept are you sitting on?  Are you going to bring it forth or will you take it to the grave?  If you truly believe in whatever it is you want to do, you’ll find a way to make it happen!

(Become a fan on my Facebook Page updates on the book’s release.)

One of the many lessons I have been teaching my daughter in her short life is to learn from the mistakes of others.  Because the reality is….you don’t have time to make them all yourself.  I have found myself on many occasions sharing with her the many mistakes I’ve made as a teenager, with the hopes of her not having to repeat them.  I know I can’t protect her from everything or from ever making a mistake- I’m not naïve.  However, I’d like for her to make some “new” mistakes (if that makes sense).  Don’t do the same stupid stuff that I did….do some new and improved stupid stuff. LOL

I feel the same is true for business owners.  You should study successful people and learn from their mistakes.  Pay attention to what is working….and what’s not!  This Boot Camp is offering you an opportunity to speed up the learning curve and avoid the many mistakes that I (and many of my clients) have made.    Think about it, fewer mistakes, greater success, better cash flow, and consistent profitability sooner vs. later.  Does that sound like something you’d be interested in?

What would you do with the time saved by not having to put out business fires day after day?  Close your eyes and imagine how different your life could be!  You could volunteer more at your favorite charity or your child’s school.   Take care of an elderly parent.   Read a book on a beach trip during the week.

What would freedom from financial worries mean to you?   What would you do with your business profits?  Would you fund your children’s college fund or start saving for retirement? The possibilities are endless.

The good news is every day I find myself adding more great stuff to the Boot Camp manual (this thing is going to be HUGE).  I am committed to sharing EVERYTHING I know about starting and running a business (and that’s a lot).  So now I extend an invitation to get in where you fit in!  No matter the age or stage of your business, you are GUARANTEED to learn something new!

Don’t let another year pass with your saying….. “…one day I’m going to start a business.”  One day is not on the calendar.  However, October 28 & 29, 2010 are!  So do whatever you have to do to be there.  Rearrange your vacation days.  Borrow the money from your mom.  Sell your TV.  Crawl across broken glass.  Whatever you have to do….DO IT!  BECAUSE I GUARANTEE IT WILL BE WORTH IT!  IF YOU DON’T THINK SO…..I WILL GIVE YOU YOUR MONEY BACK!  NO QUESTIONS ASKED!!!

Keep in mind, the early bird discount will not last forever!  Can you really afford to pass up a $500 discount?  I don’t think so!!!

REGISTER TODAY!

1. Commingling funds – So many business owners are guilty of either using the business account to pay for personal expenses or paying business expenses through the personal account. This is a big NO NO!

2. Misclassifying workers – Times are tough and staffs are getting smaller and smaller. Many business owners are classifying workers as independent contractors when they really are employees. This mistake can shut your business down.

3. Not reconciling books to bank statements each month – This is a practice that should be done each month. It ensures that all charges on your bank statement are legitimate and it also ensures that all charges on your bank statements are recorded in your books.

4. No backup – A paper trial of documentation should exist for all computer records. Technology is a wonderful thing when it works. Telling an IRS audit that your computer records were stolen or lost in a fire will not be sufficient.

5. Miscategorization or over categorization – This occurs when expenses are either recorded in the wrong category or there are too many categories created.

6. Improper use of petty cash – A system must be put in place where a set amount of money is placed in the petty cash fund and accurate records of expenses and replishments are recorded.

7. Missing deadlines – Filing returns late can create unwanted penalties and interest.

8. Excluding startup expenses – Failing to keep accurate records of the expense incurred prior to opening the business doors. These expenses are often time paid from the personal account and are often times overlooked.

9. Including equipment purchases with supplies – Equipment is a capital expenditure, and capital expenditures have to be depreciated, which means they get written off over several years.

10. Improper auto expenses – There are many options for calculating deductions when you use your car for business. (Actual expenses OR mileage)

11. Claiming too much for gifts – You may claim gifts given to your client but keep in mind that you can only deduct $25/per client/per year. So if you give a $50 gift you can only deduct $25/per client per year.

12. Writing checks out of sequence - Writing checks out of sequence opens your business up to theft from employees or vendors.

Have you heard a tip that you didn’t know about?  Which one?  What are you going to do to clean up your books?  We’d love to hear from you.