Calculating Wealth : A Primer on Assets and Liabilities All money coming in or going out of a business is recognized on the balance sheet as an asset, a liability or owners’ equity. An asset is anything a company owns that has future value. Cash, property, equipment, inventory, accounts receivable, investments, vehicles and intellectual property such as copyrights, trademarks and patents are a...
Cost Segregation Benefits Medical Office Buildings Cost segregation benefits medical office buildings. By accelerating depreciation on all personal property, medical office buildings can provide Dr.’s with significant increases in investment income. It really is quite simple. IRS acquiesced to a lawsuit brought by HCA in Hospital Corporation of America v. Commissioner, 109 T.C. 21 (1997)("HCA"...
April 19th, 2013 
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The Importance in Employment Practice Liability Insurance- EPLI - The business environment has become increasing unpredictable. It seems there is a lot less loyalty between employers and employees. This exposure leaves the door open for wrongful termination suits. As a business owner you are at risk no matter what your business practice. I know a lot of companies have specific ways to hir...
April 11th, 2013
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Is he an employee or an independent contractor? - Commercial Insurance - I am a generalist in the sense that I write commercial insurance for all types of industries. Some commercial insurnace agents focus on one group and some attack like a scatter gun. I enjoy dealing with different types of business operations. There is a universal theme though…How can I save money? Good business ...
April 4th, 2013
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7 Talking Points a Business Owner Must Consider to Better Protect Their Business - In my time in business insurance I have come across few business owners who are happy about their business insurance expenses. Who wants to budget for an intangible product that you may never use? This is a common theme I come across daily and usually get three different perspectives. Perspective 1: I have ...
Some Last-minute Tax Reminders for Investors - With April approaching, many investors find themselves racing to meet tax deadlines. If you’re one of them, there are some important details to remember. Tax Deadline: While the Internal Revenue Service began accepting electronically filed tax returns on January 17, there’s plenty more to remember, as many people will be waiting for the April 1...
February 8th, 2013
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- COMMERCIAL AUTO VS. PERSONAL AUTO - Many business owners can be intimidated by the word “commercial” when it comes to an automobile policy. I know many business owners who are individual owners and prefer to have their auto policy on a personal auto plan rather than a commercial auto plan. In most cases they have never even tried to shop a commercial auto policy. Typically if the ...
January 24th, 2013
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- Entrepreneurs and Investors Can Learn From Each Other - Entrepreneurs are passionate about their business, but does passion translate into success? In this scenario, a first-time entrepreneur has just launched a new business. While the business idea is timely and interesting, the enthusiasm high, and the hours long, the “solopreneur” begins to spiral into debt with minimal sales to show fo...
November 30th, 2012
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- The Facts about Amortization and Depreciation - Amortization measures the consumption of the value of an intangible asset, such as a copyright, patent or trademark. In accounting parlance, amortization refers to the deduction of capital expenses over the life of an intangible asset. Intangible assets are generally expensed according to their life expectancy, but nonphysical assets may have ...
October 10th, 2012
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- Four Questions to Ask Your Accountant - The allure of software for completely in-house bookkeeping and tax return preparation is a constant temptation to small-business owners. Unfortunately, the odds are against a mere software purchase achieving financial paradise. Bookkeeping software is only as reliable as the input. A substantial number of business owners don’t understand double-entry ...
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