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
New World Financial Challenges:
In one form or another, this economy has affected your business. How is your business surviving in this financial climate? Over the years, I have seen businesses fail and struggle during turbulent financial unknowns. Some business owners are overwhelmed and as a result, their business is mismanaged. However, I have also seen businesses succeed and blossom during these trying times.
Here are 3 common factors that I have seen successful businesses have:1. Relationships with mentors - when you get the guidance you need, businesses can be successful. Running a business is challenging. Business owners need to rely on the expertise of mentors to help them especially during the recent financial climate. An important part of having a consultant or coach/ mentor is the business relationship(s) that are built.
2. Plans for the future - businesses can only be successful when they focus on long term planning. Projecting income and expenses will allow you to know your operating needs of your business 6 months in the future. This is key to keeping your business operating during this economic storm. Keep your eye on the Eagle as the phrase goes.
3. Discernment to cut expenses - be willing to make the hard decisions. Cutting out Friday bagels or finding copy paper for a lower cost can not only sustain your business during this recession, but it can also help your business generate profits. Cash flow is crucial to profitability.
Now is the time to find the right mentor, plan for the future and reduce your expenses! Go and be successful!
Article written by Gino Borgioli, Heritage Bank, gino.borgioli@herbank.com, (408) 782-5276
Federal Tax Hikes on The Way: 
In Kiplinger's Tax letter, it outlines the changes for the 2011 tax year from the Obama administration. Here are a few you need to know:
1. For married filers making over $250,000 and single taxpayers making over $200,000, the tax brakets will be increased from the current 33% and 35% to 36% and 39.6%.
2. The current 15% maximum rate for capital gains and dividends will rise to 20% for taxpayers who are above the 28% tax bracket.
3. To help pay for the cost of health insurance, Obama plans to limit how much a taxpayer can deduct on the Schedule A form. He wants to cap all the itemized deductions, such as donations and mortgage interest.
Know the new tax laws and how it will affect you!
Renee Quoted in QuickBooks Newsletter:
Intuit puts out a newsletter to their 50,000 consultants. Renee was honored to be quoted in the newsletter recently. She provided information on how to collect on receivables by customizing statements in QuickBooks. To read the short comment, Click Here!
Deadline Reminders:
LLC, S-Corp and C-Corp tax deadline is due September 15th. 
Estimated Tax Payment due September 15th.
Individual tax deadline is October 15th.
Sales Tax Quarterly Report due October 31st.
Payroll Quarterly Reports due November 2nd.
Networking Opportunities:
Jubilee CEO Meeting: Saturday, August 15th from 9:30-11:30am in San Jose. Cost $12. RSVP to 408-262-0900 ext. 317 or Click Here!
San Jose Business Journal Networking Event: Tuesday, August 18 from 3pm - 6pm at the Holiday Inn at 1740 N. First Street, San Jose. Cost is $45 in advance, $55 at the door. Register at: Click Here!
Crossroads CEO Meeting: Tuesday, September 1st from 11:30 - 1:30pm. Cost is $7 which covers lunch. Topic: Tax Tips for Business Owners. RSVP to Karen at 408-921-3174.
Free Networking Event: October 21st at 6pm - 8pm at Canyon Fireplace: 3193 Belick Street, Santa Clara. For more information contact Karen Black at 408-921-3174 or Click Here!
Upcoming Webinars:
Admin Books is offering 12 webinars that will provide you confidence and clarifications on how to run your business successfully. Choose the topic that you most struggle with or select a group of them. These one hour interactive webinars will be held every other Wednesday from 9:30am - 10:30am PST. And, the cost is only $39 each. If you bundle 5 webinars, you get the 6th one FREE!
Company File Set Up & Maintenance - August 12
Choosing the start date, gathering information, entering new accounts, recording opening balances, entering outstanding transactions, setting closing date, adding/deleting/merging accounts, passwords and more! - Click Here To Register
Customizing QuickBooks - August 26
When you customize QB, it allows you to be quicker and more efficient. Learn the important preferences, customize icons, forms like invoices, customize vendors, customers and employee lists and my favorite tips and tricks - Click Here To Register
Creating Reports & Financial Statements - September 9
We will review types of reports, cash/accrual, modify reports to get the data you need, memorize reports and process multiple reports - Click Here To Register
Chart of Accounts for Sole Proprietors, S-Corps and C-Corps - September 23
The chart of accounts is the backbone of your books. Setting them up properly based upon your entity will be crucial in being able to manage your business with efficiency. Learn how your accounts should be set up based upon what is deductible and how you file taxes - Click Here To Register
How to Read & Interpret Financial Statements - October 7
It is one thing to be able to read your statements. The important part is being able to comprehend what they say. Learn how to understand what your numbers are telling you, manage your business better, set financial goals and learn the profit formula! - Click Here To Register
Sales Tax: Tips and Common Mistakes - October 21
Setting up sales tax items, tracking sales tax, paying sales tax correctly and common mistakes - Click Here To Register
Entering HUD Statements for Real Estate Investors - November 4
Does your balance sheet reflect your assets and liabilities correctly? This class will teach you step by step on how to record investment property, mortgage loans, security deposits, closing costs, escrow deposits, PITI, taxes paid in escrow and much more! - Click Here To Register
Processing 1099's - November 18
Setting up vendors, mapping accounts, processing, printing, mailing forms and getting 1099's and 1096's for FREE! - Click Here To Register
End of the Year Checklist - December 2
What do you need to do before the year ends to clean up your QuickBooks file, manage your business and get ready for a tax return? We'll review the 27 item checklist of all you need to know! - Click Here To Register
W-e 
E-ncourage
B-usiness Owners
I-n
N-eed Of
A-ccurate
R-ecords!
Quotable Quote:
"Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end."
~Denis Waitley
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 years, 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, November 13th from 8:45am - 5pm at the Holiday Inn in Morgan Hill. Check out our website for content and cost.
To register: Adminbooks QuickBooks Class
As a business owner, you're the pilot who ensures the business takes off and lands successfully. Are you flying by the seat of your pants or do you have a flight plan? Read my book, "Your Financial Flight Plan: Pilot Your Business To Profitability. Check out your copy at: YourFinancialFlightPlan.com
The book is also available at 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
