The goWholesale Blog

Whose Side Is Your Accountant Really On?

April 10th, 2008

How would you feel about hiring an accountant who puts the interests of the IRS before those of you or your business? What’s that you say? You wouldn’t like it? That’s what I thought you’d say…but what if I told you you had to?

Unfortunately, that may be the case.

(I mean, I won’t force you to but a much stronger influence might…what was their name again?…..oh right! The Government.)

The Small Business and Work Opportunity Tax Act of 2007 stipulates that those who prepare returns containing an understatement of tax due - which the preparer "knew or reasonably should have known" - will be subject to penalties amounting to "the greater of $1,000 or 50% of the income" the preparer received for that particular federal return.

The act also expands the definition of tax-return preparer to cover those handling any federal return, including those for estate, gift, excise, and employment tax.

According to a recent Fortune Small Business article there are a bevy of downsides to this new legislation including:

So it sounds a bit like intimidation doesn’t it? And it would appear that the government would end up with a lot of free (and somewhat covert) auditors. How do you plan to handle this new legislation? Are you going to write your congressman? Did you even know this tomfoolery was afoot?

And for those of you who do end up getting audited this tax season (for real) check out How to Survive an Audit of Your Business- And Live To Tell About It

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Posted in Finance and Accounting | No Comments »

Oh So Textual! *Text Message Shopping Has Arrived*

April 7th, 2008

I remember the days when cell phones were exciting because they were cordless AND you could use them past your front porch without it crackling and buzzing you deaf. Then came the ringtones. And the cameras. And the text messages, email, internet, music and video. I can’t afford the latest and greatest (mine simply allows for phone calls and a few texts) but when they add a "Makes You Breakfast in Bed" feature I’ll seriously consider upgrading.

But as is, I, along with countless others, still possess the capability of participating in text shopping, the latest service offered by Amazon.com called TextBuyIt. Here’s how it works (courtesy detnews.com ):

"It lets people text the name of a product, its description or its UPC or ISBN to 262966 (that’s "Amazon" on the keypad) from anywhere their cell phones work — including from inside physical stores.

If Amazon stocks matching items, the service returns two results at a time. Shoppers can immediately buy one of the first two the selections by texting back the number "1" or "2," or they can ask for more by texting the letter "M."

New TextBuyIt customers will be prompted to enter the e-mail address associated with their existing Amazon account plus a shipping zip code. The service then calls them and walks through the checkout process using an automated voice system. Shoppers get confirmation by text message and e-mail.

From there, the customers can check on order status on Amazon’s Website."

First I just have to say that I think this is pretty awesome–as a consumer that is. I keep thinking that there is no way things can get easier and lo and behold, someone finds a way. I’m not so sure I would use this personally (remember, I’m too cheap to upgrade to a cooler cell phone so I’m not exactly a ’shopping on demand’ kind of person) but I do know that this service will likely be widely accepted by shoppers and replicated and perfected in different forms by Amazon’s top competitors.

So what kind of effect do you think this will have on brick and mortar stores? Or small businesses for that matter that do not possess the capabilities of offering such a service in order to compete with Amazon?

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Posted in E-Commerce and E-Business, In the News | 2 Comments »

Times are lean, all the more reason to go green!

April 3rd, 2008

If you haven’t already been bombarded by all the wonderful and practical reasons you should take steps to making your business more earth friendly, you might have fallen down a dark well and have no way of getting out. If this is the case and you are reading this, please email someone for help. And then explain to me how you are getting wireless down there.

If you fall into the other category (and hopefully that is ALL of you reading this) then you are familiar with this buzz phrase "going green." I’m not here to repeat what we already know about the basics. So I’ll just skip ahead to the juicy details.

The "going green" craze has swept our nation and in the midst of it all has been a wealth of opportunity for environmentally oriented businesses not to mention creating a market for new ones to crop up as well. Unfortunately, in the area of solar technology, there hasn’t been much competition. Til now.

A recent article (which explains the ins and outs of solar energy in detail) from CNNMoney.com states that "several startups, including HelioVolt in Austin, Miasol in Santa Clara, Calif., and Nanosolar in Palo Alto, are working on a new technology called flexible thin film that’s on the brink of making solar more competitive." And you know what that means? It means that these companies are going to work harder to produce the best solar product and we all can benefit from this (including Mother Nature).

Solar power has been two to three times more expensive than traditional energy methods but with these companies working on a cheaper way to convert solar energy into usable energy, lower energy costs are dangling right in front of us. So check out this new solar energy technology as I’m sure you’d rather spend company funds on actually growing your business, not just powering it.

For more tips check out an article by our small business expert, Steve Strauss: Why Going Green Is Good For Business

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Posted in In the News | No Comments »

Avoid Spring Cleaning (sort of) - 4 Ways to Clear Computer Clutter

April 1st, 2008

April 1st. Many know it by it’s widely known and celebrated OTHER name…April Fool’s Day. Unfortunately, for many others it’s also officially the first day of facing projects they’ve managed so diligently to put off all winter. And what is usually at the top of everyone’s list? That’s right, (cue Beethoven’s 5th):

Spring Cleaning!

(Yeah, I know…I thought maybe the happy colors would make it less painful but alas, there is no way to overcome the incredible demoralizing strength of those two words combined. They continue to stand the test of Time…and apparently the test of Color Wheel as well.)

Fortunately, I have an alternative for those who wish to avoid the catastrophes otherwise known as basements, garages and landscaping. Why not take this opportunity to a little spring cleaning–er–organizational restructuring for your business? Now I don’t mean you’re whole business. Just focus on your computer. It’s probably full of backlogged information that you could easily do without not only from an aesthetic aspect but also in the sense that getting rid of needless files and emails will make your computer run faster.

Courtesy ManageSmarter.com and My Computer Works , a PC repair company, here are 4 easy ways to clear your computer clutter:

1. Slow E-mail
Topping the list of performance issues for most people is e-mail problems. Some issues are caused by settings that are incorrectly entered into the e-mail application. However, it is possible to speed up Microsoft Outlook and other popular e-mail programs by archiving or pruning old e-mails, especially those with attachments. Deleting unneeded messages from the Sent folder and emptying the Deleted Items folder will also allow the software to open and operate smoothly.

2. Sluggish Operations
Another common problem is deteriorating PC performance. Boot-ups seem to take forever, applications don’t load as fast and the dreaded "blue screen of death" shows up more and more often. There are a number of things owners can do to improve the situation: defragment the hard drive using the Disk Defragmenter utility in Windows, remove unneeded personal files as well as old or unused programs, many of which get automatically loaded with new software whether you want them or not, remove unused programs. If run-time is still down after deleting the digital clutter, users should look into purchasing more RAM from a local retailer.

3. Security
Malware, spyware, viruses and other PC infections can slow PC performance, but they can also damage files and compromise highly confidential information such as email and financial data. It’s essential to install, and routinely update, anti-virus and anti-spyware/malware programs. Make sure the programs are set to scan files, e-mail and memory on a regular basis.

4. Periodic Cleanup/Backup
A little housekeeping can extend a PCs life and ensure that important information is never lost. Dust is a major problem with both laptops and desktop units; tower units are especially prone to dirt and dust since they usually sit on the floor. To clean a PC case, remove the side panel and use a can of compressed air to blow away dust. Never use a vacuum, as the suction causes static that can short-circuit delicate electronics. The last and perhaps most important task of all is to back up data at least weekly: PCs are replaceable, but photos, videos, financials and business data can be lost forever.

Taking the time to give your computer a little love will likely save you time and gray hairs…so grab a snack, plop down in front of that PC and knock it out. Come on, it’s gotta be better than whatever is waiting for you in the attic, right?

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Posted in E-Commerce and E-Business | No Comments »

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