Author Archives: Dwayne
How Long Should I Keep Records
As a question that comes up constantly, these are the definitions per the IRS which will hopefully clarify questions you may have. The period of limitations is the time in…
Tracking Your “Outside of the Office” Expenses
There are four major areas that you should always keep accurate tracking of your outside expenses, which include: travel, entertainment, gifts, and transportation. Below is a synopsis from Publication…
Why you should donate early and donate often
It's amazing the amount of clutter we collect, and with the change in the economic conditions and the frugality everyone has been dealing with for the past 2 years, however…
4 requirements for the home office deduction
If you use a portion of your home for business purposes, the option of a home office deduction is available meeting specific requirements as stated by the IRS. 1. The…
5 Tips on What to Check with New Customers
I've learned to be very very careful when working with new customers. The point is that when times are tough, it gets tougher to be paid. People are…
6 Tips When You Work for Mom and Dad
Whether it's during the Summer, Fall, Winter or Spring, the rules apply regardless of the time of year. Here are some key tips to remember if your parents own…
Is Your Hobby Really a Business?
Most all businesses were hobbies at one point or another, but the question becomes where does it draw the line? According to the IRS. Section 183 (the hobby loss…
When “Free” Simply Costs Your Business Too Much
Over the years in the small business world, especially when I went out on my own back in 2005, I've learned that the words 'œdiscount,' 'œfree,' 'œcheap' simply costs you…
Still playing it Straight for Pay?
I've been out since I was 17 years old and at this stage in my life, 25+ years later, I'm learning that people still haven't changed all that much in…
Do we really need everything that we want?
It's interesting that when the price of gas dropped so dramatically in the past several months that consumption never rose to the levels before the high cost caught us off…