My previous post was about the Section 179 deadline, and how supply chain issues and delivery delays could derail some companies who wait too long to make their 2021 section 179 equipment purchases. And almost right away, my brain kicked into “and getting used equipment instead alleviates that” (since Section 179 eligible equipment can be new or used.)… Read More »
** 4th Quarter 2021 update: I wrote this post in May, and boy did it come true. The good news is by reading this now, you still have a decent amount of time to get your Section 179 purchase financed, delivered, and put into service. But definitely act now. In 2021, you need to pay close attention to… Read More »
Here’s something that’s a surprise to many non-businesspeople: There are actually two different accounting methods, and most successful businesses will compile reports and similar using both. The two accounting methods are: Book Accounting (which could simply be called “accounting”) utilizes Generally Accepted Accounting Principles (GAAP), whose rules are set by the Financial Accounting Standards Board (FASB). Tax Accounting… Read More »
As I write this, the biggest issue on the minds of businesspeople everywhere is “taxes”. Of course, this argument has been going on for centuries (the USA was founded partly due to unhappiness with taxes), but there is a very valid point here. “Enough with the taxes” say small and mid-sized companies, and they’re right. Businesspeople, especially those… Read More »
So here we are at my annual predictions post. Let’s forget the fact that 2020 was a terrible year for any early year predictions, and look forward to 2021. And I do see room for optimism. But like always, let’s start out with the fun stuff: sports. As I type, the NFL playoffs are going on, and to… Read More »