Newsletter April 10, 2009 Business News & Cash Flow Management. Page 1 of 4
Business Advisory Services LLC
QuickBooks Pro Advisory Services - Issue: 201
April. 10, 2009
Free QuickBooks On-line Software.
Click Here and Find Out How. Click Here - Press Releases -
Business & More!
In This Issue
Cash Flow Crisis Strikes!
Tax Credits You Might
Ten Tips for Marketing to
Existing Clients and
60-Second Guide to Managing Upset Customers - Click Here
No doubt you're familiar with the
adage about a bird in the hand
being worth two in the bush.
Well, this old saw is especially
appropriate when talking about
customers. But you'll have to
adjust the math: on average,
finding a new customer costs five
times as much as keeping an
That's reason enough right there
to start marketing to your
existing customer base. Here are
10 expert strategies to
Greetings! motivate your customers to keep
1. Talk to them. How you
Tough Times Can make us all a little worried about our business communicate with your
practices. Here are some feature articles from experts that can offer customers isn't that important;
timely information to help assist you and your business in tough what's important is that you do it!
operating times. Stay in touch with email
newsletters, mailings, or a blog.
These methods remind your
clients and customers that you're
Tools for Tough Times around when they need you. You
can even call them to let them
Click the links of interest and it will take you to the know about a sale, a new service
Article of your choice. you are offering, or just to ask if
there's anything else you can do
1. Tools for Tough Times - Perhaps the most important thing any 2. Get personal. If you want your
contractor can do to protect itself against financial problems on a company name to be the first
project is to carefully choose the companies it does business with thing people think of when they
need your product or service,
and to request evidence of those companies' financial strength. you need to build personal
2. 10 Steps to Improve Your Money Habits - By: Millionaire Money Habits. relationships with your
Becoming wealthy has less to do with your actual income, and customers. That's why it's helpful
to call or send a card on special
more to do with the money habits you have developed. occasions - like birthdays,
3. Cash Flow Projections Made Easy - By: Philip Campbell. One of the anniversaries, or promotions.
Show your appreciation. Letting
Newsletter April 10, 2009 Business News & Cash Flow Management. Page 2 of 4
them know you appreciate them
most serious mistakes I see in my consulting practice is business builds a personal link and can
help keep clients loyal.
owners trying to run their business without cash flow projections. Something simple like sending a
This is like driving along on the freeway at 70 miles per hour with a $5 gift certificate to a coffee
blindfold on. chain and saying "Have a drink
on me" goes a long way in
4. How-To Guides - The 10 Absolutely Must-Follow Cash Flow relationship building. You may
Rules By:Philip Campbell consider thank you notes to be
When it comes to properly managing the cash flow of your no-brainers, but you'd be
business, the best way to move from where you are now to where surprised at how many
entrepreneurs neglect to write
you want to be is to get a clear picture in your mind of the benefits them. Take the time to show your
you will enjoy as you take control of your cash flow. customers that you genuinely
5. Top 10 Mistakes Made When Applying for a Business Loan appreciate their business, and
they'll remember your
Provided by Allbusiness.com. Whether you're applying for a business loan thoughtfulness.
or a personal loan, there are common mistakes that can hinder the
process. Below are 10 of the most common mistakes made when To review the rest of this article
go to the following link
applying for a loan. -
Countdown to April 15: Get Tax Refunds from Prior Years with NOL
CarrybacksIf your small business suffered a loss in 2008, tax refunds
from prior years (which can provide an immediate infusion of cash to your
business) may be within your reach.The IRS announced that small ______________
businesses with deductions exceeding their income in 2008 can use a
new net operating loss (NOL) tax provision to get a refund of taxes paid in
Cash Flow: When a Cash Crisis Strikes
By: Jill Andresky Fraser Should I buy or rent?
When it comes to figuring out just whom you'd like to approach for
business capital, these tips can help you develop a great list of How much car can I
Cash crises happen. The way they're managed can have a tremendous effect on a company's all- How much can I afford to
important relationships with creditors. "Credibility and confidence are built slowly but destroyed
rapidly," says David Preiser, head of restructuring and managing director at the New York City
office of Houlihan Lokey Howard & Zukin, an investment-banking house based in Los Angeles.
His recommendations for breaking bad news to loan officers, vendors, and other creditors: What is my lease rate?
Develop a credible plan. It may require getting advice from a lawyer or an accountant, but it
should resemble an action-oriented business plan. "It won't convince creditors if it's just a short-
term dance, but it also can't be too gloomy, or they'll panic." Aim for a realistic assessment, and How long will my
then focus on how you'll fix problems. Above all: "Never promise anything you already know you retirement savings last?
Telephone your creditors to suggest meeting with them and their What rate would I need to
lawyers. Schedule meetings before payments are due; mention earn on my savings?
but don't fully describe your difficulties; divide in order to conquer.
(Don't bring creditors together so they can "gang up on you.")
Another tip: "Don't schedule the meeting after you've run out of How long will it take me to
funds. Always leave yourself enough to make a tiny payment and pay off my credit cards?
demonstrate good faith."
Behave appropriately during that meeting. To Preiser, that
means being respectful, confident, and strong. "If you seem *The information provided by these
prepared to tackle problems, you'll inspire creditors' respect. If you calculators is for illustrative
seem overwhelmed, they'll panic." purposes only. The default figures
Beware of vendor panic. You don't want to scare vendors "into shown are hypothetical and may
refusing to make shipments." Preiser's advice: "Don't treat vendors not be applicable to your individual
dishonestly," but don't bare your soul. "Achieve a balance between situation. Be sure to consult a
present problems and future hopes." financial professional prior to
relying on the results. The
calculated results are intended for
Business Advisory Services LLC. Call 888-838- illustrative purposes only and
4900 ext 1. accuracy is not guaranteed.
Click Here for Solutions For The Most Critical Tax Problems
Newsletter April 10, 2009 Business News & Cash Flow Management. Page 3 of 4
Tax Credits Your Small Business Might Overlook
By Maria Markham Thompson IRS Business Informaiton.
The Internal Revenue Service allows a number of tax credits that
many businesses might not be aware of. Unlike tax deductions, tax Closing A Business - IRS
credits are subtracted from the amount of taxes you owe. Most
credits are broadly applicable, so there are usually more than one Small Business
that cover a business's expenditures and investments.
Workshops - IRS
To claim most business tax credits, you'll file Form 3800 with your
annual business income tax return. Tax credits not used in the IRS Compliance &
current year normally are carried back one year or carried into the Enforcement
future for up to 20 years.
Business owners should consult their tax advisors to determine the
applicability and potential benefit of any tax credit to their situations. IRS - On-LIne Services
Energy Breaks ___________________
Businesses can take advantage of a growing list of energy conservation and alternative energy Recovery Rebate Credit
resources credits offered to reduce dependence on fossil fuels. The credits for alcohol used as Calculator
fuel and biodiesel and renewable diesel fuels provide additional benefits because businesses that Know the Amount of Your
use alternative fuels for transportation can file for the credits on quarterly returns (Form 4136) Economic Stimulus Payment (ESP)
rather than waiting for the end of the tax year. Upgrading your heating and air conditioning Recovery Rebate Credit Calculator
systems, adding solar energy to buildings, and building alternative energy projects all trigger tax - Click Here
credits, helping lower these project costs.
New Assets _________________
Every year businesses can deduct the entire cost of new assets under Section 179 rather than
depreciating them over time. Using Section 179 saves the cost of setting up depreciation
schedules for relatively low-cost assets such as printers, cell phones, and office furniture but also
applies to vehicles, machinery, and other equipment with a longer life. Businesses can elect ________________
Section 179 treatment on Form 4562 where they depreciate other assets. The limit on how much QuickBooks Basics. Let Us Provide
can be written off in a year increases annually, so look up this limit as part of your tax planning. A Tune Up & Review of Your
New Hires QuickBooks.
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Newsletter April 10, 2009 Business News & Cash Flow Management. Page 4 of 4
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How to Weather a Stormy Economy
Gas prices are up, revenues are down, and money is tight. What's a small
business owner to do? There are several important strategies you can use to
see you through these difficult economic times. Here are five of them:
1. Protect your personal assets. All businesses hope to survive difficult
economic times, but the reality is that some will undoubtedly fail. If yours
does, what happens to you? It depends on how you've set up your business.
§ Sole proprietorships and partnerships -- Creditors can look to your
personal assets--your home, your car, and your savings--to satisfy their
§ Limited liability companies and corporations -- Creditors can only
satisfy their claims from business assets; your personal assets are fully
If your personal assets are currently vulnerable (e.g., you're an independent
contractor), See balance of article - Click Here
Business Advisory Services LLC
Helping You Plan For Profits Phone 1-888-838-4900
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