Posts Tagged ‘independent contractor’

Expert Advice

None of us knows everything we need to be successful. So whose help do we need and where do we find it? The idea of a self-made man or woman is not reality. Yes, there are those who like to go it alone, but in the long run they will either fail or fall short of their potential unless they get expert advice somewhere along the way. Read the rest of this entry »

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Advantages of Independent Contractors

Perhaps your company already uses some independent contractors. If not, it is something to consider. In my last article Full Time or Part Time? I discussed the benefits you may experience by using part-time employees or contractors. Here I want to focus specifically on the advantages of independent contractors.

They’re Not Your Rank and File

At first it may seem to be a disadvantage to have people working for you that are not your own employees. That occurs because you may have a sense of loss of control. There is a grain of truth to that, but think a little further. Read the rest of this entry »

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Full Time or Part Time?

Have you ever wondered if your employees are really needed on a full time basis? Now as someone who provides part-time CFO and Controller services, I realize my view could be influenced by that. But, I’m writing really from observations over numerous years. So, here are some thoughts on whether full-time or part-time employees are needed.

Hired to Do What

While my focus is on the role of a CFO or Controller, I have noticed at numerous places that there are often people in fairly well paid positions in multiple areas actually devoting only a fraction of their time to tasks that require their greatest skills. In fact, it is really not that unusual that Read the rest of this entry »

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Company Crooks

This posting was prompted by an article I read about what to do when a company owner was committing fraudulent activities to evade income taxes. Whether the fraud is committed by an owner or someone else, let’s cut to the chase and call them what they are: company crooks. While I will not rehash the tax issue, I do want to touch on the issue of fraud from another vantage point; that of the employee or contractor/consultant who has knowledge of a fraudulent activity.

It Could Be Anybody

If you are in a position with a company where you have any kind of fiduciary responsibility this is for you. That not only means CFOs and Controllers, but Read the rest of this entry »

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Part-Time CFO and Financial Vision

It is very common that resources of a small company are stretched. As a result, things like good financial information get overlooked. Too often this neglect leads to unnecessary pain. But there is a solution that is effective and affordable. The underlying issue is one of having the Read the rest of this entry »

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Important Considerations for QuickBooks Implementation

There are some standard considerations when implementing QuickBooks. This list is not intended to be all inclusive. Primarily it is to encourage management to understand the complexity of QuickBooks implementation or the setup of any other accounting software. Remember the old Information Technology adage, “Garbage in, Garbage out.” When it comes to implementing accounting software this Read the rest of this entry »

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Outsource and Save

There is a tendency for business owners to try and do it all. Often that is not the best use of resources. In a previous posting Spend Wisely – Go Part-Time I talked a little about the financial advantage of outsourcing. In particular I compared my experience as both an employee and a part-time CFO/Controller. In this article I looked mainly at two things; cost savings and best use of talent. Now let’s consider other benefits to using outside resources.

First Things First

Just to summarize, the first point previously discussed had to do with having a highly skilled employee spend most of their time on tasks that really did not require their level of expertise. In the second point an example Read the rest of this entry »

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Inconsistent Income Tax Decisions

As you are certainly aware, the U.S. Federal Income Tax code is sometimes quite vague. A number of years ago I read about a little test where the same tax information was taken to a certified public accountant (CPA), and several other tax preparers. When each had completed a sample return for the same information, each return was different. Something is wrong here. Seriously wrong!

Another Case in Point

In a previous posting (Independent Contractors – Know the Rules) the rules used by the Internal Revenue Service (IRS) to determine whether someone was an independent contractor or an employee were discussed. There it was pointed out that the IRS uses several criteria to determine whether someone is a contractor or an employee. Among the things considered are Read the rest of this entry »

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Be Different

Before acting do you make the effort to seriously consider if you are conforming out of habit or because you have considered the implications? Don’t misunderstand me as there are times when it is to the benefit of you and others to go with the flow. These are times when it contributes to efficiency and really does not need deep thought.

The Danger of the Crowd

“Whenever you find that you are on the side of the majority, it is time to reform.” – Mark Twain.

Now we know he wasn’t meaning this in all situations, but rather said it as a Read the rest of this entry »

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Healthcare Law Impact

As you certainly know by now, the results of the November 2012 election made it a certainly that the Affordable Care Act (Obamacare) will be implemented over the next couple of years. Just what does that mean to you?

A Nightmare

This law will have major effects on nearly all businesses, particularly those with over 50 employees. The requirement for employers with over 50 employees to provide health care or pay a fine creates a dilemma for many. Some will decide that the increases in premiums that are expected present Read the rest of this entry »

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