What is the Alternative Minimum Tax (AMT)?

AMT picture

The AMT is a second tax system, where tax is assessed based on including income not taxed under the regular tax system and disallowing certain deductions.  It is hard to believe now, but it originally did have a point. In the late 60’s Congress noticed that high income individuals were legally using many tax deductions and tax breaks to avoid paying their fair share of federal income tax.  Congress then instituted the AMT with the main goal and purpose to make the tax system fairer.  … [Read more...]

Top 5 Financial Faux Pas for Small Business

Financial_Mistakes

Some people go into business thinking they have it all figured out. Some people go into business thinking they have none of it figure out. The bottom line is whether you think you have it figured out or not, there is always something to learn. I have been in the accounting, finance and consulting world for over 20 years and have seen a lot of success and a lot of failure. I want to share some common financial mistakes that I have seen new and growing businesses make, and give you some … [Read more...]

Inflation – How Real a Problem is it?

inflation

Another blog post on economics is not what I expected to be writing, but I think it is important. Inflation – what is it?  No, not the balloon kind. Everyone has heard of it but does anyone understand it?  Economists know what it is but don’t agree in any given period of time about whether it is a problem or not. In layman’s terms inflation occurs when prices for goods and services increase and the value of the currency used to purchase the goods and services decreases. Hmmmm … [Read more...]

AA004 | Corps, Partnerships & LLC’s – Entity Structures for Small Business

Corp Seal

On this episode of Andy & Amy on Biz we talk about the various corporate entity structures that are available for your small business. We discuss the pro's and con's of each structure and talk about the value and benefits of creating a business entity in the first place. Want to know which entity is right for you. Want to understand the difference in liability protection and the tax advantages and disadvantages? This episode of Andy & Amy on Biz will answer all those questions and … [Read more...]

AA003 | Protect Your Brand – Copyrights, Trademarks & Patents

copyright

On this episode of Andy & Amy on Biz we discuss Intellectual Property - Copyrights, Trademarks and Patents for small business with Attorney Jonathan Wachs of Offit Kurmon. Jonathan walks us through the protection offered by each, how to defend your rights and how to insure you don't violate the rights of others. He gives us tools to research the IP landscape for our own uses and tells us when to get a lawyer involved. Want to know how to protect your company name? Can you use that picture … [Read more...]

Social Toaster Tutorial – Part 1 – Becoming an Ambassador

Social Toaster Tutorial - Part 1

http://www.youtube.com/watch?v=IaQ9ptO74uM In this Screencast, we cover the first in a three part series on Social Toaster. Part 1 will give you an overview of Social Toaster, what it is and how to use it. It also walks you through, step by step, the process for signing up to be an Ambassador. Our example shows you how to sign up to be an Ambassador for Andy & Amy on Biz (of course) but you can use this information to sign up as an Ambassador for any site using Social Toaster. Also, if … [Read more...]

6 Ways to Manage Cashflow in a Small Business

cash register

“Show me the money.”  “Cash is king.” We often hear these phrases but what do they mean?  For a Small Business, they often mean the difference between success and failure. There are several reasons why businesses have cash flow problems: Underestimating the initial cash required to start and run the business Unexpected economic conditions Unexpected competition Aggressive growth An interesting fact is that many businesses don’t need to go far to find money. Many … [Read more...]

AA002 | Social Media for Small Business with Brian Razzaque

social media

On this episode of Andy & Amy on Biz we discuss Social Media with Brian Razzaque, CEO of Social Toaster. Brian tells us how to effectively use Social Media sites like Facebook, LinkedIn and Twitter to promote our Small Business and communicate with our customers. Brian give us actionable ideas for using Social Media and how to integrate it into our websites and our traditional marketing efforts. In this episodes QuickTip, we discuss Social Toaster and how we use it to promote Andy & … [Read more...]

Survey Monkey

surveymonkey

This is a screencast we did showing you how to use Survey Monkey to create an online survey. Surveys are a great tool for finding out what your customers want and Survey Monkey is an easy way to generate them. http://www.youtube.com/watch?v=e2qG14YX5O4 … [Read more...]

Choosing the Best QuickBooks Edition for your Small Business

quickbooks

A necessary evil when starting a new business is choosing an accounting software package. There are many different choices. However, for most small businesses, unless you expect immediate, explosive growth, one of the low-end systems such as QuickBooks or Peachtree is a safe bet. Everyone has their favorite for various reasons, and unless a small business has a complicated inventory system, my preference is QuickBooks because of its variety, flexibility, ease of use, intuitiveness and low … [Read more...]