Produced Produced & Published & Published by Relentless byAaron Relentless
Aaron
ISSUE ONE VOLUME 1
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January 2009
Are You Starting a Business Late in Life? For most people, retirement means a life of relaxation, travel or pursuit of hobbies. But for others, it is a chance to realize a lifelong dream: to start up their own business. The business might be an extension of a hobby or a new enterprise based on your field of expertise. However, if you have harbored a desire to be an entrepreneur, don't go into the new business undertaking with your eyes closed. The rewards may be many, but so are the obstacles. Keeping that in mind, here are several suggestions for starting out:
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most people are finding more ways lum commodo nisl, to cut costs. Instead of hiring a luctus amet landscaper to augue cut your grass, you quis pull aenean maec the lawn mower
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*Consider all the ramifications of starting a business. Common scenario: Panic overtakes you the first few weeks you are away from the job. It may take a while to settle into a comfortable routine. Explore any business possibilities carefully; do not leap at the first opportunity that comes along. *Make smart retirement plan decisions. This is a complex process that requires professional assistance. For instance, you may want to use part of the distribution from a company retirement plan as “seed money� for your new business. As the business grows, you might set up a retirement plan for yourself and any other employees. *Delegate payroll responsibilities. Many late-starting entrepreneurs do not want to be bothered with the hassle; not to mention the potential liabilities of handling a payroll, withholding taxes and filing tax forms. If you do not have expertise in this area, consider the use of a reputable professional or payroll service. (Continued on flipside)
QUICKBOOKS transactions, special transactions, tips & tricks, basic accounting, and BASIC how to send your QuickBooks File to TRAINING:
Start-up to Back-Up! This QuickBooks course is for beginners who want to learn how to use a business accounting system. QuickBooks is currently used by 85% of small businesses. In this class you will learn; how to get started, everyday
your Accountant. (A detailed agenda will be provided upon course enrollment) Upon course completion you will receive a certificate & complimentary copy of QuickBooks Quick Start
out of the shed and say "I will do it myself". The typical landscaper can charge $40 per cut, well at least mines does. Wow, I will save $80 per month and $960 per year. Next, I decided that instead of taking my pet to the groomers once a month I said, "I will do it myself". How hard can it be to wash my dog? First, I'll shave him, wash him, dry him, and I'll even brush his teeth. Heck, I will even paint his nails. Great, that will save me $50 per month, and $600 per year. Hey, I am on a roll! What else can I do myself to save money? Oh yeah, I can even wash my own car. (Continued on flipside)
BOOKKEEPING BISTRO, COMMERCIAL STREET, CONYERS | 678-379-8970 | bookkeepingbistro@live.com
Produced & Published by Relentless Aaron
ISSUE ONE VOLUME 1
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(Continued from flipside)
*Weigh the impact on Social Security benefits. A retiree under age 66 (the current full retirement age) may earn up to $14,160 in 2009 without losing any Social Security benefits. However, if you exceed this limit, you must forfeit $1 of benefit for every $2 received. The earnings limit is $37,680 for those who turn 66 this year. In that case, you lose $1 of benefit for every $3 earned. In some cases, it may pay for you to delay the start of a new business until you reach full retirement age.
Forget paying for a $3.00 car wash and a $1.25 for the vacuum at the gas station. Not only can I wash my own car, I can detail it. I will save $8.50 per month and $102 per year.
*Protect your business assets. For instance, you might make provisions to continue the business if you should die or become disabled. One way to do this is to set up a buy/sell agreement with a junior partner that is funded with life insurance. The insurance proceeds can be used to buy the business from your heirs. *Trust your business to a trust. Consider using a trust to preserve the privacy and continuity of the business. The trust may be funded with corporate or other business assets. In addition, a trust may be used as a vehicle for saving federal estate taxes. See a professional tax adviser for more details. *Plan ahead. The best time to get started is actually before you retire from your regular job. For example, it may be beneficial to set up an office in your home while you are still employed on a full-time or part-time basis. Spend some time each week in the office planning the enterprise, organizing files, collecting lists of contacts and so on. For tax purposes, be sure to keep track of any expenditures related to the business. In summary: There still may be time to realize your dream of owning your own business if you are at or nearing retirement. But proceed with caution.
Now here comes the real test. I am pretty smart. So how hard can it be; on Monday I don't feel so well, on Friday while cutting the grass I pull a muscle, on Saturday I spend the entire day chasing my dog around the yard to groom him, which neither he nor my husband appreciate me using the electric shaver on the dogs private parts. For more of this article, visit: http://bookkeepingbistro.blogspot.com/ 2009/09/when-doing-it-yourself-goes-tofar.html
TIME TO PROMOTE YOUR BUSINESS!
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Danielle Parker, Simonis & Associates say “Bookkeeping Bistro has been such an informative and enjoyable experience! Tiffany Williams does a fantastic job of bringing together reputable business professionals to provide an excellent environment for networking. I always walk away with new contacts and new information on how to improve my own business. I believe that it is the jump-start we all need at the beginning of each month!� James Barthelemy :The Bistro is a good way to meet other small business people and to learn something new. All in the comfort of Borage grill. Art Crutcher, of SunTrust Bank: The Bookkeeping Bistro is an intimate meeting of community business leaders. The professionals at this table are knowledgeable and willing to share best practices in various industries. This is an hour well spent! Commissioner Oz Nesbitt, Sr. of Rockdale County: Bookkeeping Bistro is an excellent way to increase your knowledge of accounting practices and a unique opportunity to meet more local people. Tiffany Williams approach to Bookkeeping 101 is on a level that everyone who attends can embrace and comprehend. Borage Grill and Bookkeeping Bistro the PERFECT combination!
Produced & Published by Relentless Aaron
ISSUE ONE VOLUME 1
BOOKKEEPING BISTRO!
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Every 1st Monday of the month we will transform BORAGE GRILL into the BOOKKEEPING BISTRO to preview the perfect blend of venue and vibe for a mixture of Business Professionals and Beautiful People. The BORAGE GRILL will host BOOKKEEPING BISTRO (a bookkeeping seminar paired with a business luncheon) hosted by Tiffany A. Williams of 1st United Business Advisors starring Elite Keynote Speakers featuring Reputable Accountants, Bankers, Attorneys, Government Officials, and Professionals. This exclusive affair is anticipated to redefine your business luncheon expectations, raise your social ambitions, and get your marketing message displayed to a group of small business professionals.Â
Lunch is provided but gratuity to the staff is not included, please tip accordingly as it appreciated. For An Invitation RSVP: bookkeepingbistro@live.com
Our Mission Statement We strive for excellent customer service by providing professional, knowledgeable, and efficient accounting services. We go the extra mile to educate and communicate to our clients their financial situation; thus enabling them to make sound financial decisions. Ultimately, this will lead to our client’s future success. "Success is a journey, not a destination." Ben Sweetland
www.1stunitedbusinessadvisors.com
1st United Business Advisors, LLC Presents
Bookkeeping Bistro Every 1st Monday (Except In September)
Hosted By
914 Commercial Street Conyers, GA 30012
770-929-8885
www.boragegrill.com
1st United Business Advisors, LLC A Certified Public Bookkeeping Firm
Tel: 770-922-0372 / Fax: 678-298-6293 Our Website: www.1stunitedbusinessadvisors.com Ask Your Bookkeeping, Accounting, Financial Management, QuickBooks, and Taxes Questions at: http://bookkeepingbistro.or g We Believe in Tax Avoidance not Tax Evasion, ask us about our Complimentary Tax Planning Consultation. Our Services: Full Service Accounting, Bookkeeping, Taxes, Business Advisement, and QuickBooks (Installation, Training, and Support) BOOKKEEPING BISTRO, COMMERCIAL STREET, CONYERS | 678-379-8970 | bookkeepingbistro@live.com
Produced & Published by Relentless Aaron
ISSUE ONE VOLUME 1
BOOKKEEPING BISTRO!
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1st United Business Advisors (Services) Bookkeeping • Accounting Department Setup • Full Charge Bookkeeping • Bank/Credit Card Reconciliation • Bi-Weekly, Monthly, Quarterly, and Annual Review • Receipt Organization & Expense Management
QuickBooks Specialization • • • • •
QuickBooks Installation, Setup, and Customization QuickBooks Consultation and Training QuickBooks File Clean Up QuickBooks Support Services QuickBooks Accounting onsite, offsite, and hosting.
Accounting • • • • •
Tax Planning
Financial Statements Management Reports Financial Analysis Budget Preparation CFO & Controllership Services
• • • • •
Personal and Corporate Planning Divorce Tax Planning and 1031 Exchange Tax Strategies for Retirees Tax Forecasting W-2, W-9 Consultation
Tax Preparation • Personal, Corporate, Non-Profit, Payroll, Sales and Use Tax • IRS Representation and Problem Resolution • Low Cost Refund Anticipation Loan Products, and Free EFile • Audit Protection • Pick-up /Drop-off Service Available
Business Advisement • • • • •
Incorporation and New Business Advisor Services Registered Agent Services Business Consulting, Planning and Program Development SBA, 8(a) Certification and Government Contractor Registration Non-Profit (501(c)3) , Business Leagues (501(c)6, ) and other Special IRS Filings
Our People before Pennies Program 1st
United Business Advisors believes in supporting our community. We understand that the schools, parents and other civic organizations cannot do it by themselves. As the saying goes, “It takes a village to raise a child” therefore, 1st United Business Advisors is dedicated to giving back to the very same community in which we service. In our “People before Pennies” program, we will be donating up to 30% of the proceeds from our seminar/workshop ticket sales and/or Tax Preparation Fees to Your Favorite Organization in hopes that these funds can be used to assist your organization in any way possible. 1st United Business Advisors is committed to becoming your Strategic Alliance in Education and the Community. For more information about our “People before Pennies” program please visit our website and complete a contact us form at www.1stunitedbusinessadvisors.com
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