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
Eye-Opening Sales Tax Information:
If your company collects sales tax, you are aware of the recent increase in the rate as of April 1st, 2009. The news media (and politicians) stated that “the sales tax rate went up by only one cent.”
Here is what they did not tell you. Most taxpayers would think a penny on each dollar is no big deal but there is a better way of looking at the increase. For example, if you purchased $1000 worth of merchandise, the amount of sales tax you would pay before the increase would be $82.50 if your rate was 8.25%. However, now that the rate is 9.25%, your tax would be $92.50 on that same $1000 purchase. That $10 additional tax is an increase of over 12%! Over a full year, that 12% increase would amount to several hundred dollars for non-business residents alone. How is that for an eye-opener?
Businesses are already operating on low profit margins. With the increase in sales tax, it can be debilitating or even devastating to the small business owner. For Retailers, this will cause more and more of their customers to buy over the Internet to avoid paying the sales tax. Contractors, Manufacturers and other Service companies who pay large amounts of sales tax, will find their profit margins shrink even more.
Article written by Hal Smith and Jerry Ham. Hal Smith was a Board of Equalization Auditor who retired in 1998 after 31 years with the Board of Equalization. 408-358-2100 or whatthehal@yahoo.com
Jerry Ham was a Board of Equalization Auditor for 10 years, then joined IBM in 1979 as their sales tax & property tax manager, before retiring in 2005. 408-307-6993 or jerry.ham@comcast.net
Admin Books Hosting Sales & Use Tax FREE Workshop & Lunch: Need to learn the basics on collecting sales and use tax for food, tips, online sales and product shipped within the State and outside of the State? Come and join us for a “Lunch and Learn” with Hal Smith and Jerry Ham where there will be a fun and lively discussion on sales tax. Learn the common mistakes, explore interesting situations, and let the experts guide you through the sales tax maze. Confirm you are reporting your tax correctly and sleep better at night!
Join us: Wednesday, September 2nd from Noon – 1:30pm RSVP required – email Renee at rdaggett@adminbooks.com
Rudy Giuliani's Success Strategies:
In the August subscription of Success Magazine, Rudy Giuliani shares his 7 lessons for tough times. 
- Maintain your integrity - have a set of principles that you can stick to in good and bad times.
- Always look for the solution - as if a building has crashed down around you and you are planning your escape, relax and figure out the best solution.
- Be courageous - courage is the strength to act on strong beliefs. Remain steadfast.
- Relentless preparation is key - anticipate what is going to happen and practice your response.
- Communicate goals and expectations - effective management requires clear goals and communication. Let people know what you expect of them.
- Be accountable - make assessments that you can see with your own eyes.
- Be honest - tell the truth, but don't be insensitive.
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. Visitors are free! 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!
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
Other recorded webinars: Tracking Income, Managing Expenses, Reconciling Bank Accounts, & QB File Set up.
W-e 
E-ncourage
B-usiness Owners
I-n
N-eed Of
A-ccurate
R-ecords!
Quotable Quote:
"Time flies. It's up to you to be the navigator."
~Ronald Orben
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
