So many times I am out at a restaurant, store, or outing and someone in my family or group of friends says “You’re the accountant, how much is this?” and wants me to calculate something in my head. I am going to let you all in on a little secret… I am not a mathematician, I am an accountant. If my calculator is not near, don’t ask me to calculate anything. I am going to let you in on a few more secrets as well. Read below to find the top 10 Accounting myths I have put together.
Now all you should have left is the pile of belongings that you want to keep. Now evaluate your room. What are you going to use this room before it became chronically disorganized?
In the service industries, reports can show how time is allocated. If time is allocated poorly, money is being lost and as 99% of businesses in the country, I am sure you are trying to make a profit. These reports can help reveal the problem area and help to shift employee duties or activities in a way that will bring profit back or increase the profit of your company quickly and efficiently.
However, as a Torrance CPA, in spite of all the confusion surrounding online sales taxes, the only thing that you truly need clarity on is how to pay. Remember that every state that has sales tax also has a use tax. The later is a replication of the sales taxes and applies in scenarios when the merchant does not collect any sales tax but you still have the goods shipped into your state.
Be aware of when you need to pay your taxes. April 15 may not be the only tax dateline you need to observe. You need to pay an estimated tax on a quarterly basis when you are in business for yourself, and report business profits or losses.
To be able to perform at your top mental capacity take 5 minutes when you start to lag during the day and do this exercise. Make sure no one is watching or they will think your dozing off. Close your eyes, pick a number between 1 and 9. Double that number, then double the next number, and keep doubling the result until you lose track of how big the number has gotten. If you lose track of where you are at or the number gets to big to hold onto, start over. I usually double the same starting number 3-5 times. You will get faster as you practice. Benefits include slower and more relaxed breathing, sharper focus, and the ability to envision large numerical sequences.
Take advantage of the travel/vacation deals out there, you can probably get a great lodging deal in the same resort that would otherwise sell you their timeshare, and stay for half the price!