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Stephen Nelson's Articles

  • Making Sense of Writing a Business Plan
    Trying to make sense of the business planning process? Confused by the different definitions people seem to use for the phrase, "business planning?" One accountant tries to share some useful information.
  • CPA Reasons You Shouldn't Extend Your Tax Return
    Extending your tax return beyond April 15th seems to make sense. But with tax season just around the corner, one CPA points out there are really good reasons for taxpayers NOT to extend the due date of their tax returns.
  • Embarassing Business Bookkeeping Blunders
    Avoid the five most common small business bookkeeping blunders by using this CPA's end-of-year accounting tips.
  • CPA Secrets for Easier Small Business Accounting
    Want to keep your small business accounting system running smoothly? One CPA suggests simplifying your bookkeeping by following five, easy-to-understand tips.
  • When S Corps Make Sense for Real Estate Investment
    The general rule is, "Never, ever put real estate inside a corporation." But in a handful of special cases, a corporation, more precisely an S corporation, can be a useful tool for savvy real estate investors.
  • Firing Your Financial Planner: A CPA Explains How & Why
    Do you really need to pay a financial planner five, ten or twenty thousand dollars a year to help you with your personal finances? Some CPAs say "no," as this article explains.
  • Incorporating a Professional Practice
    Are you a professional--a doctor, dentist, engineer or accountant--interested in incorporating your practice? Use these tips for making the process easier and safer.
  • Professionals Guide to Forming a Limited Liability Company
    Small businesses and entrepreneurs often minimize their liability and save taxes by using a limited liability company. Unfortunately, the rules get tricky for professionals (doctors, lawyers and others) who want to take advantage of the LLC option. This article suggests five tips for making the professional LLC setup process clean and error-free
  • Picking a Tax Accountant for your Business
    Need to find a good certified public accountant, or CPA, for your new business? Using these five tips will make your selection easier.
  • A CPA's Accounting Tips for New Businesses
    Starting a new business? Consider these five, easy-to-use tips to keep your accounting and taxes clean, lean and simple.
  • The Successful C Corporation Owner's Investing Blunder
    Successful business owners operating as C corporations often make a terrible tax blunder--they decide to do their investing inside the business. A tax professor and CPA explains why this mistake is such an expensive error--and what the business owner can do to correct the problem.
  • Seven Great Tips for Nevada Incorporations
    Considering incorporating in Nevada? Use these seven tips to minimize mistakes and maximize the benefits
  • Tips for Florida Incorporation
    Thinking about incorporating in Florida? Consider these seven tips says one small business accountant to make incorporation easier and most beneficial.
  • Avoiding Incorporation Scams
    Incorporating a small business can be an appropriate decision, but new entrepreneurs need to make sure they avoid these three, common incorporation scams.
  • Using a Limited Liability Company for Asset Protection
    Looking for techniques you can use to better protect your business assets or investment wealth? A limited liability company may be just the ticket, says one tax accountant.
  • Paying the Partners in a Limited Liability Company
    Limited liability companies are popular with accountants and attorneys, but they can make life complicated for a small business owner or bookkeeper trying to pay the owner for his or her services. In this short article, QuickBooks for Dummies author and CPA Stephen L. Nelson provides some rules of thumb for making the process easier.
  • Can You Setup Shop as an S Corporation?
    Subchapter S corporation status often saves the small business owner thousands of dollars a year in taxes. But tight eligibility rules mean some small businesses can't qualify. In this article, a CPA explains who can and can't take advantage of S corporation status.
  • Naming the New Limited Liability Company Business
    Need a name for your new limited liability company? You'll want to consider both legal and marketing issues says this small business CPA and author.
  • Microsoft Small Business Accounting Software and Limited Liability Companies
    Setting up accounting software like Microsoft's Small Business Accounting can be tricky if you're operating as a limited liability company. This article suggests four tips to make the setup easier and cleaner.
  • How to Set Up QuickBooks for a Limited Liability Company
    Almost always an LLC gets treated as some other type of entity for tax accounting purposes. That means setting up QuickBooks for the LLC can be complicated. Fortunately, small businesses can use three QuickBooks setup tricks.
  • Improving Small Business Cash Flows: Five Easy Tips
    Are you a small business owner struggling with your day to day cash flows? Try these five tips says the small business accountant who wrote QuickBooks for Dummies.
  • When C Corporations Save Your Business Taxes
    Many small businesses assume that limited liability companies and S corporations are the only good choices for the business ventures. But a regular C corporation may sometimes be the best choice.
  • When You Should Not Incorporate a Business
    Small businesses often think about incorporating. That's not surprising given that incorporation usually reduces business risks and can save a business thousands in taxes. But despite those savings, very small businesses need to think carefully about incorporating because of the costs and administrative work.
  • S Corporation Tax Errors You Don't Want To Make
    S corporations have become the most popular type of corporation in the county--which isn't surprising. An S corporation can save its owners tens of thousands of dollars in taxes each year. To reap those savings, however, the small business needs to avoid these five common S corporation tax blunders.
  • 5 Reasons to Setup Shop as a Sole Proprietorship
    Starting a small business? Confused about the incorporation option? Don't give up on the sole proprietorship alternative until you read one CPA's five reasons for keeping things simple with a sole proprietorship.
  • Quick and Easy Pension Plans for Small Business
    Looking for an easy yet economical small business pension plan? CPA and former tax professor Stephen L. Nelson says you've got at least three easy, economical choices.
  • Convert Your Accounting System into a Secret Weapon
    Want to get more from your accounting system? Try these five tricks from the author of QuickBooks for Dummies.

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