Starting a small business is a big step. Because it is a big step, people often ask for ideas or advice about what they should do first. Over the years, we’ve come up with a laundry list of ideas and comments. Here they are: Idea #1: Stay upbeat. While the conventional wisdom says you’re likely to … [Read more...] about Starting a Small Business
About Stephen L. Nelson
Avoiding Common Investment Mistakes
Smart people sometimes make dumb mistakes when it comes to investing. Part of the reason for this, I guess, is that most people don’t have the time to learn what they need to know to make good decisions. Another reason is that oftentimes when you make a dumb mistake, somebody else—an investment … [Read more...] about Avoiding Common Investment Mistakes
How to Save Taxes with an S Corporation
If you’re a business owner or entrepreneur, you want to have a good understanding of how S corporations save small business owners tax. Accordingly, the paragraphs that follow describe the big benefit of an S corporation (which is that an S corporation minimizes employment taxes). But the paragraphs … [Read more...] about How to Save Taxes with an S Corporation
Customizing the Asset Depreciation Starter Workbooks
You can use the asset depreciation starter workbooks for a wide variety of depreciation calculations. However, you might want to change the starter workbooks so that they more precisely meet your requirements. For example, you can add text that describes the asset, describes the units of use that … [Read more...] about Customizing the Asset Depreciation Starter Workbooks
Understanding the Activity Depreciation Starter Workbook
You can use the activity depreciation starter workbook shown in Figure 15-5 to construct depreciation schedules with the activity method. The activity method is unique among depreciation methods because it expenses the original cost of an asset based on use rather than on time. In general, you use … [Read more...] about Understanding the Activity Depreciation Starter Workbook
Understanding the Annuity or Sinking Fund Depreciation Starter Workbook
You can use the annuity or sinking fund depreciation starter workbook, shown in Figure 15-4, to construct depreciation schedules with the annuity or sinking fund depreciation methods. The annuity and sinking fund depreciation methods include, as part of the depreciation expense, a return on the … [Read more...] about Understanding the Annuity or Sinking Fund Depreciation Starter Workbook