Looking for something specific? Enter one or more keywords and search our entire site.	900 N. Kings Highway, Cherry Hill, New Jersey 08034 856.667.4100 · 215.563.0276 · Fax: 856.667.3652 Monthly Business Tips 2004 Business Tips Archive December 2004 - Get a head start on your 1099 reporting January is always a busy month for companies. You’re trying to get business off to a good start in the New Year, you’re trying to close the books on last year, and there’s 1099 reporting to complete by month-end. November 2004 - Only a few weeks remain to claim bonus depreciation A valuable business tax break expires at the end of December. That’s the special bonus depreciation allowed on the purchase of new business equipment. It was introduced in 2002 as part of efforts to spur the economy. October 2004 - Keep an eye on your company’s cash Do you regularly monitor your company’s cash accounts? You should. Even if you leave the job to your bookkeeper or accountant, you should stay aware of where the cash is going and how the spending is approved. Along with inventory “shrinkage,” theft or improper expenditures of cash are among the chief sources of loss for small companies. September 2004 - Consider cross-training your employees Have you considered cross-training your employees? Cross-training, or job rotation as it’s sometimes called, can be a win-win situation for you and your employees. Large companies often use it to prepare managers for high-level corporate positions. But it can be equally useful for employees on the shop floor or in general office positions. August 2004 - What’s your biggest business problem? If you run a business, try this exercise. First, write down what you think is the single biggest problem in your business. Then ask the key people in your company to do the same. Try to include input from all areas of operations — sales, manufacturing, personnel, purchasing, shipping, finance. July 2004 - How to improve annual performance reviews of your employees The annual employee performance review – usually it’s dreaded by both supervisor and employee. The employee knows he’ll have to hear about those mistakes from months ago, and the supervisor will finally have to discuss those issues he’s been avoiding all year. Too often, the result is discomfort and embarrassment all round. June 2004 - Should you hire family members? Many business owners hire their children, their spouse, or other family members to work in the business. Sometimes this works out well; sometimes it causes problems. Let’s look at the pros and cons. May 2004 - Business start-up costs have special tax rules We’re all used to claiming a tax deduction for the routine expenses of operating our businesses. But what about your expenses when you’re first starting up a new business or simply investigating a business possibility? These are known as "start-up costs" and “organization costs” and special rules apply. April 2004 - Get organized: Tips for keeping track of your computer purchases Many companies have trouble keeping track of their fixed asset purchases. Ideally major items of furniture, computers, and other equipment should be given individual inventory numbers and tracked separately in the accounting records. But this seldom happens. March 2004 - Introduce your employees to the new health savings accounts Have you heard of "health savings accounts" (HSAs)? If not, you probably soon will. Authorized by the recent Medicare Act, they're the latest product in business health insurance. HSAs are part of a trend to give employees and the self-employed greater control over their medical expenses, with some tax advantages thrown in. Here's an overview of how these accounts work. February 2004 - Make tax-smart purchases of business equipment With the economy showing signs of strength, it's a good time to take a look at your company's equipment purchasing plans for the year. Last year's tax act expanded two tax breaks for business purchases, one of which expires at the end of this year. January 2004 - Keep your customers coming back Every successful business relies on a core group of customers who keep coming back on a regular basis. Sure, you're always trying to find new customers and expand your market. But chances are that it's the "regulars" who provide the bulk of your revenues. It's important not to forget this group. "Business Tips" are published monthly to provide useful business information. Return to this site every month for helpful suggestions on how to make your business more profitable. The information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance. If you would like more information on anything in "Business Tips," or if you'd like to be on our mailing list to receive other business, tax, or financial information from time to time, please contact our office. We're here to help. We currently have individuals licensed to offer securities in the states of New Jersey, California, Connecticut, Washington D.C., Delaware, Florida, Maryland, Nevada, Pennsylvania, Texas and Wisconsin and to offer investment advisory services in New Jersey, Connecticut, Delaware, Florida, Maryland North Carolina, New York, Pennsylvania, Texas and Wisconsin. This is not an offer to sell or provide investment advisory services in any other state or jurisdiction. Securities offered through 1st Global Capital Corp., Member FINRA/SIPC. 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