Admin Books Newsletter
Running a small business is fraught with challenges. Admin Books partners with business owners to provide financial and bookkeeping services through our team approach. Our goal is to free you to focus on growing and managing your company. The purpose of this e-zine is to provide our clients, associates and friends with valuable tools to manage their business. Enjoy! Renee
Please Note: Due to technolgy difficulties, this newsletter is being sent out again. If you already received a copy, I apologize for the duplication.
Top 3 Mistakes Employers Make with I-9's: Do you have employees? If so, read further.
Do you realize that as an employer, you must have an I-9 form on file for each employee?
Here are the top 3 mistakes made regarding I-9's:
- Missing I-9's. Each employee must have one on file.
- The form is filled out incorrectly with missing documentation, no signature, and employer does not fill out their portion.
- Keeping the form in the employee's personnel file.
If you are found out of compliance, the violation penalties range from $275 - $2220 for each incident.
To confirm you are in compliance, contact Darlene Forsythe, Principal Human Resource Consultant at dforsythe@peoplesolutions.name or at 408-234-3054.
Jack Canfield - Success Principles: Have you ever heard Mr. Canfield speak? He is a motivational speaker and author of "Chicken Soup For The Soul." I recently listened to his speech on success principles.
Mr. Canfield has a formula: E + R = O. The Events in our life will produce a Response which will equal an Outcome. Here is an example he gave. If he tells the lady, Valerie, in the front row that she is "the biggest idiot" what Valerie says to herself will dictate the outcome. For example, Valerie could say, "boy, he does know me!" or she could say, "he probably has a crush on me because he has not taken his eyes off me!" The events in our life will produce a response from us and then determine the outcome in life.
I have also said that what I think in my mind will determine how I will feel. How I feel will then affect my words to others. My words will then determine my character. For example, if you are upset that your spouse did not take out the trash, then you can think about it off and on all day. If you have an "argument" in your head, it will affect how you feel. And, when your spouse returns home, your language to them will be affected all by the conversation you had earlier in the day.
There is another famous saying, "As a man thinks, so he is." There is power in our thoughts. If you think you are an idiot, fat, ugly, etc, your actions will draw you down the wrong path. The same would be true if you think you are you smart, adorable and successful.
Business Meals Deduction Rule: One of the reoccurring items I see when I look at a business financial statement is suspicious meal deductions. I wanted to remind you that meals are 50% deductible. In order to receive this deduction, there are three requirements:
- Document the name of the person that
you shared your quiet meal with - Indicate the business purpose
- Be able to show INTENT to make a profit
This means that you cannot take your spouse to dinner every Friday night or write off your Starbucks without meeting a client. Be careful! You might lose the deduction. Call me to review your books to solidify your position in case of an audit!
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Quotable Quote For The Month:
"Things may come to those who wait, but only the things left by those who hustle." - Abraham Lincoln
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Free Stuff: I want to make sure you are aware of several items of value that you can take advantage of compliments of Admin Books.
- Receive our Monthly newsletter for free, but also be able to access past articles on our website to review later.
- If your business is struggling or you are seeking confirmation that your bookkeeping is in order, take our FREE quiz. Answer 10 easy questions and get a diagnostic report that will let you know how your company is doing.
- If you would like to hear a 45 minute audio on how to manage your personal finances, click on the link Personal Finances
- If you would like to listen to an MP3 recording of how to run your business more efficiently, go to our website and click on the Compass Interview on the front page.
- Check out our blog. Post your comments or questions too!
- You've invested time, effort and money in your business. Now invest a few minutes to find out how you can find peace of mind in running your business with Admin Books. We'll make an investment in your success with a FREE 1/2 hour initial consultation for prospective clients. This gives you a chance to explain what is driving you crazy and we can confirm our services match your bookkeeping needs. Fill out the following Questionnaire.
- Not sure how long you need to keep your documents? Request a "Records Retention Guide." This brochure will let you know if you need to hold on to paperwork permanently, for 7 years, for 5 yeas, and 3 years. This free report will provide you peace of mind knowing it is fine to shred your documents. Contact us at 408-782-9640 to get your copy!
Upcoming QuickBooks Classes:
Beginner Class - Friday, January 30th from 8:45am - 5pm at the Holiday Inn in Morgan Hill. Check out our website for content and cost.
Real Estate Investor/Property Manager - Saturday, January 24th from 8:45am - Noon at the Holiday Inn in Morgan Hill. Check out our website for content and cost.
To register: http://www.adminbooks.com
Your Financial Flight Plan:
If you're flying your company in one direction and don't like the results, this book will help get you back on course. Discover:
- Qualities of a CEO
- Navigate your company
- Manage cash flow
- Rely on your financial statements
Order the book online at: http://www.yourfinancialflightplan.com
The book is also available at http://www.amazon.com, Barnes & Noble and BookSmart in Morgan Hill!
Are Your Books In Order?
What is the status of your bookkeeping??
Are you current??
Are your books accurate??
Admin Books can assist you with:
- Data Entry
- Reconciliation
- Payroll Processing
- Sales Tax Reports
- Workers Comp Reports
- Job Costing
- Private Consultations
- Financial Coaching
- QB File Clean Up
Call our office to confirm our services match your business needs!
Best Regards,
Renee Daggett
408-782-9640
