D.E. Rodrigues & Company Accounting Blog

June 2013

Keep an eye on your company's cash

Written by June 21, 2013

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. Periodically, you hear...

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It's tax planning time

Written by June 20, 2013

Tax planning is a year round activity! It’s midyear 2013, and if you haven’t thought about your 2013 tax situation yet, it’s time to do so. By now, you should have a good idea of what your 2013 income and deductions will be. There are several very significant tax changes this year, and you need to start planning now if...

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Have a financial talk with elderly parents

Written by June 18, 2013

One day you may find yourself taking care of an elderly parent who is in declining physical or mental health. This can be stressful, both emotionally and financially. On the financial side, there are steps you can take to prepare for this situation. * Talk to your parents about their financial affairs. Parents may be reluctant to discuss their finances,...

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Taxes and your child's summer job

Written by June 17, 2013

With the school year over or nearly over in some areas, your teenager might be taking a summer job. If so, you both may have questions about taxes. Here are some of the common concerns. If your child chooses a typical wage-paying job, he or she will soon be confronted with the task of calculating withholding allowances on Form W-4....

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FBAR filing due by June 28, 2013

Written by June 13, 2013

If you have assets in a foreign account and the total value exceeded $10,000 at any time, you must file the “Foreign Bank Account Report” (commonly called FBAR) by June 28, 2013. The FBAR is an annual information form, filed separately from your federal income tax return. The 2012 FBAR must be received by the Treasury Department by the deadline,...

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Business Planning Basics

Written by June 12, 2013

Business planning is critical at all stages of a business, from startup through maturity. It is critical because it forces the business owner to actually ‘think’ about their business and priotitize what they feel is important for success. Some top items to think about when preparing a business plan are as follows: 1. Vision. Where do you see your company...

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