Friday, December 25, 2009

New Small Biz Contests and Competitions |

Here's a latest list of contests, competitions, and awards for growing companies, which is brought to you twice a month by Small Business Trends and

Thursday, December 3, 2009

Fraudulent Email Is Not From Intuit

The majority of our clients use QuickBooks. A number of fraudulent emails have gone out recently purporting to be from Intuit. The latest one claims to be from the QuickBooks Update Center and contains the subject line "Intuit Secure Update.” This email is not legitimate. Ignore it and delete it.

Wednesday, December 2, 2009

Smart Spending Helps Minimize Your Taxes

If you’re a small business owner who turned a profit in 2009, congratulations! It’s been a tough year, and any business that succeeded in a very challenging economic environment deserves a pat on the back.
The downside to making a profit, of course, is that it can be subject to taxes. In order to minimize the amount they’ll have taxed at the corporate rate, many businesses look for ways to spend down their excess profit. Here are just a few purchasing options that might help minimize your tax liability while also enhancing your business:
Hardware. Need new PCs, external hard drives, servers, wireless routers, or other physical equipment? Get it before the year’s out.

Software. It might be time to do that big OS upgrade you’ve been planning. Ditto that accounting software purchase you’ve been putting off: once you’ve mastered it, it will save you hours of bookkeeping every week. And that’s an investment worth making any time of year.

Office Supplies. Think about what you’ll need in the first quarter of next year and buy it now to maximize deductions for 2009. Stock up on paper, photocopier and printer cartridges, and other supplies you know you’ll use.

Services. Many CMIT Solutions locations offer service hours in blocks that you can purchase in advance and use over the course of the year. Check with us for details.

One thing you’ll want to consider with equipment purchases is whether you want an immediate write-off or whether you want to depreciate the item over several years. (You’ll also need the equipment in your office, in use by year’s end.) Your accountant should be able to advise you on how to maximize your deductions and structure a plan that’s best for your business.