Rimberg Online Bookkeeping

Midlife crises can be expensive. A Porsche? A girlfriend?

Move over Gates and Jobs! This spirit-lifting article from CNNMoney.com just goes to show that anybody can accomplish the American Dream!

You don’t have to be some whiz kid to accomplish the success of the American entrepreneur. According to a new study by the Kauffman Foundation, that stereotypical image of entrepreneurship is a complete myth. Typical founders are middle-aged when launching their first company. Seventy percent of first-time founders are married, and nearly 60 percent have a least one kid! You don’t have to be rich or a college graduate either. Over half the entrepreneurs studied came from blue-collar families and didn’t hold advanced degrees.

The common held belief that entrepreneurs are young, genius college kids is wrong; middle age really spurs on the entrepreneurial spirit! So, if you think it’s too late for your great idea, think again! There’s hope for all of us and now may be just be the perfect time to embrace it.

We’d love to add you to our list, where we send out bookkeeping and tax saving ideas as well as good business building practices. Just click here to sign up today.

Marketing is the fuel that powers your business. I come across to many businesses that are not using the internet to their advantage. Even if you own a retail store, also known as brick and mortar, you can increase sales exponentially by creating a website that sells your merchandise. It can be done quickly, cost effectively, and make money for you almost instantaneously. What are you waiting for?

A recent article from CNN Money discussed how important it is for small businesses to adjust to new media by creating websites and online marketing strategies. In the article, web marketing and search engine optimization specialists give tips on how to lure local traffic to your website. As a true believer in the power of new media, I would like to share some of those tips with you.

There are three key elements in a website: design, content, and search-engine ranking. With content it is important to think about the top three things a client would want to see on your business’s site. Highlight exactly what you do and build on the concept in order to give visitors information on what you provide to your clients. You should provide articles and free information to prove that you are an expert in your field. Can your business handle this customer’s specific situation? Your website’s content should answer that question! Keep it fresh and update continuously. You want to remain timely, relevant, and credible.

Expanding your content increases search engine optimization. The more articles and links your website contains, the more keywords a search engine will find and the higher your site ranks! Typically, sites with more articles, statistics, stories, etc., are visited more frequently because clients want the personal and informative experience. Make sure your website is organized with sidebars and sitemaps and fix any broken links! Carelessness comes across to potential clients and affects search engine optimization. Also, establishing your business on other locally focused sites like citysearch and yelp can help.

Don’t forget that increasing your website’s ranking and user traffic is not the only thing that matters— you need a professional, neat, and inviting website in order to get the clients! It is especially important for the homepage to be attractive so that potential clients want to stick around and continue to learn more about your business! Keep the hierarchy of information on your website extremely organized and make sure the layout on each subpage is consistent and eye-catching. In addition, make it easy for clients to get started with you by advertising a marketing deal right on the contact page.

In the new age of technology and social media, there are plenty of ways to increase marketing and visibility on the web ‑ it’s just a matter of getting started and doing it right! So take advantage of the tools out there and give it a shot. Don’t be afraid to ask a professional for some help, and check out Luring Local Traffic to your Web Site for even more suggestions!

“Taxes in July? That’s crazy!” While that would  probably be the most common reaction, it’s really never too early to start preparing for tax season and this summer, the IRS is here to help you out early and get the ball rolling.

Starting next month, the Internal Revenue Service will begin publishing three tax tips per week with the hopes of helping people save some time and money come tax season. Topics will range from the importance of checking your withholding to getting proper receipts from charities to protection against identity theft.

And for convenience, you can even receive these tax tips through email by signing up on the IRS e-news subscription page. It doesn’t get easier than this to get a head start on tax season, so check it out!

Did you know that a self-employed business owner filling out a Schedule C with your tax return, you have a much greater chance of being audited than a W2 employee? According to Entrepreneur, the IRS suspects that as a sole-proprietor, you will attempt to either hide income or write off personal expenses as business deductions. When it comes time to select tax returns or audit, they check more self-employed than those who are wage earners!

Seem unfair? Well thanks to  Entrepreneur online, you can protect yourself from the discrimination! Check out 5 Ways to Audit-Proof Your Tax Return, and good luck!

Have you got any audit stories you’d like to share?

Robert

2009 could be a great year to buy a home, especially if you’re a first time home buyer. Prices of homes are falling, mortgage rates are at an all time low and the government just through in this little extra:

For 2009 Home Purchases

The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8,000 for purchases made in 2009 before Dec. 1. For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the taxpayer’s main residence within a three-year period following the purchase.

First-time homebuyers who purchase a home in 2009 can claim the credit on either a 2008 tax return, due April 15, 2009, or a 2009 tax return, due April 15, 2010. The credit may not be claimed before the closing date. But, if the closing occurs after April 15, 2009, a taxpayer can still claim it on a 2008 tax return by requesting an extension of time to file or by filing an amended return. News release 2009-27 has more information on these options.

For more info go to http://www.irs.gov

Robert Rimberg, CPA

Not all the news is gloom and doom, see below why this is the best time to purchase a new vehicle.  I found this information for you that is encouraging.

Most people have a tendency to wait for the last minute. If you bring your documentation to your tax preparer in the month of February, the chance of preparer errors are greatly diminished.

Think about it, if your tax preparer prepares the majority of her returns between 03/15 and 04/15, the closer you get to April 15th, the more weary your preparer becomes and the chances of a mistake are much greater.

So do yourself a favor, and get those returns in early.