“Yes, I'm only a bill. And I got as far as Capitol Hill.” – Schoolhouse Rock Welcome back, dear reader. I acknowledge that some time has passed since I've checked in. When things are too quiet here on the blog, that’s just the quiet before the storm. Oh, how the storm has come to the mental and physical plains inhabited by Brinen & … [Read more...]
Small Businesses Need Continuity Plans, Too
“In the business world, the rearview mirror is always clearer than the windshield.” – Warren Buffett Given the goings-on since our last post, we need to discuss the importance of disaster preparedness for small businesses. According to FEMA.gov, almost 40 percent of small businesses never reopen following a disaster because just a few inches of … [Read more...]
Knowing When To Double Down
“You've got to know when to hold 'em, Know when to fold 'em Know when to walk away, And know when to run.” – Kenny Rogers As a dedicated business owner, I’m seated nearly all day, either in: a car, behind a desk – at home or at the office – or at meetings. Now that I think of it, the most time I spend standing is in court or at a coffee … [Read more...]
The Income Tax Return As A Mirror
“The only thing that hurts more than paying an income tax is not having to pay an income tax.” – Thomas Dewar April 18 is two weeks away, and while that may be great news for us accounting professionals, it may be a solemn period of self-reflection for sole proprietors, co-owners, and limited liability corporation owners. (Our C-Corp and S-Corp … [Read more...]
Learn From Nasty Gal’s Mistakes
“I’m a creative. I’m a brand-builder. I’m a rainmaker. I’m a pretty good marketer, but that’s not something I want to do every day.” – former Nasty Gal CEO, Sofia Amoruso “Play to your strengths” and “know your limits” are phrases that get tossed around often. Young entrepreneurs should do well to remember them, though, as their companies … [Read more...]
Lessons From A Vinyl Shop Owner
“What came first, the music or the misery?” - John Cusack in “High Fidelity” Last week we discussed how entrepreneurs can distinguish themselves from the competition, and we established that simply offering low prices was a strategy to avoid. Instead, you should focus on what makes you different or an authority in the industry. Afterward, I … [Read more...]
Trump Uncertainty With Tax-Exempt Fringe Benefits
“A gift consists not in what is done or given, but in the intention of the giver or doer.” ― Seneca, Moral Essays: Volume III Small business owners can bank on the idea of “consistent inconsistency” for the next 46 months. We’re barely two months into the pressure cooker that is the Trump presidency; there’s no clear tax plan yet, and the ideas … [Read more...]
First Days in Mnuchin Land
“Government! Three fourths parasitic and the other fourth stupid fumbling.” ― Robert A. Heinlein, Stranger in a Strange Land It was only two weeks ago that we explored the economic possibilities of a U.S. Treasury led by Steven Mnuchin. Though the former Goldman Sachs CIO had some opposition in the Senate, he was confirmed earlier this … [Read more...]
More Start-Up Financing Options
“Everything started as nothing.” – Ben Weissenstein, founder and CEO, The Entitled Group There are many ways for entrepreneurs to finance a business, and we have discussed a handful of them in the past. Let's resume this discussion, and explore some more methods … [Read more...]
The Ides Of March: 2017 Edition
“Beware the Ides of March.” – The Soothsayer, from Julius Caesar I wanted to remind you of the significance of March 15 — the Ides of March. It’s not about stabbing. It’s about coming together in groups and stabbing. Too “cutting” a comment? It’s also the corporate entity deadline for filing tax returns for calendar year entities. … [Read more...]
