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Articles by Stephen Nelson

• Simplifying Accounting for a Small Limited Liability Company
  Small business owners can complicate their accounting beyond their ability or their bookkeeper's ability to handle. CPA and author Stephen L. Nelson provides some tips for avoiding this minor bookkeeping disaster.
  Published 17Oct2009, viewed 92 times

• Dave Ramsey's Financial Planning Boo-boos
  Author, television show host and general good guy Dave Ramsey provides lots of useful financial planning advice for people in trouble But one CPA points out that, for some individuals, Ramsey's information leads to financial miscalculation.
  Published 06Nov2009, viewed 58 times

• Resetting Your S Corporation Salary in a Weak Economy
  Lowering the salary paid to S corporation shareholder-employees can be a good way to save money during a weak economy. But one CPA says you need to be careful not to run afoul of IRS rules.
  Published 30Oct2009, viewed 107 times

• Ayn Rand and How NOT to write a business plan
  Ayn Rand may inspire entrepreneurs with her energetic defense of free-market capitalism. But Ms. Rand has some goofy ideas when it gets down to the basics of writing a good business, as this author explains.
  Published 13Oct2009, viewed 79 times

• Understanding the Difference Between an LLC and LLP
  Trying to choose between a limited liability company and a limited liability partnership? A CPA explains the difference between an LLC and a LLP—and when you choose which option.
  Published 20Sep2009, viewed 459 times

• Brainstorming About a Home-Based Internet Business
  A well-known small business accountant identifies five techniques for identifying possible Internet home based businesses you might start
  Published 20Sep2009, viewed 68 times

• When do I have to pay income tax on my S corporation?
  S corporations are designed to avoid corporate income tax, but in some cases even S corporation owners will have to pay income tax on their business. Learn when this is the case and how to avoid such taxes from Seattle CPA and bestselling author Stephen L. Nelson.
  Published 27Aug2009, viewed 329 times

• Does a limited liability company offer a less protection than a regular corporation?
  If you're confused about the legal protection offered by traditional corporations vs. LLCs, Seattle CPA Stephen L. Nelson is here to help. He explains why the LLC model works better for small businesses, as well as how to protect your business and your family from creditors by running your business as an LLC.
  Published 17Aug2009, viewed 171 times

• Why You Shouldn't Put Real Estate inside an S Corporation
  Real estate investors regularly make a terrible mistake when setting up a company to hold their investments... they choose an S corporation. A tax accountant explains just some of the reasons this choice creates problems.
  Published 19Jul2009, viewed 360 times

• Five Tips for Using Quicken for an Online Business
  Online businesses present their owners with all sorts of challenges. Fortunately, keeping the books doesn't need to be one of those challenges as long as you use the popular Quicken software program and follow these five bookkeeping tips.
  Published 18Jul2009, viewed 138 times

• Five Tips for Using QuickBooks for an eBay Business
  Doing the bookkeeping for a small eBay business doesn't have to difficult if you're using QuickBooks. Just follow these five tips, say CPA and author Stephen L. Nelson
  Published 05Jul2009, viewed 159 times

• Managing Your S Corporation through the Downturn
  S Corporations now count as the most popular incorporation choice for small business corporations. But while the S corporation classification saves entrepreneurs taxes in a healthy economy, business owners need to take several tax planning precautions in a recession, as this article explains.
  Published 12Jun2009, viewed 155 times

• New Business Checklist: Stuff You Don't Want to Forget
  A recession may be a great time to start your own small business. But refugees from the corporate world may not know how to get started. Fortunately, in this short article, a small business CPA outlines the basics.
  Published 15May2009, viewed 99 times

• Small Business Planning Tactics for a Recession
  Planning and managing a small business works differently in a contracting economy. In this article, CPA and bestselling author Stephen L. Nelson shares a handful of tactics for adjusting and improving the business plan when times are tough.
  Published 08Apr2009, viewed 117 times

• Tips for Setting Low S Corporation Shareholder Salaries
  S corporations save their owners taxes by grinding down the heavy payroll tax that owners pay on their profits. But the small S corporation needs to be careful... set a shareholder-employee salary too low and the planned-for savings may trigger an IRS audit. In this article, CPA and tax professor Stephen L. Nelson discusses how long you can go...
  Published 28Mar2009, viewed 319 times

• Protect Your Business Using Limited Liability Company
  For the small business owner, a limited liability company provides better legal protection than a regular corporation and at a lower cost. CPA Stephen L. Nelson, author of the bestselling books Quicken for Dummies and QuickBooks for Dummies explains...
  Published 23Mar2009, viewed 127 times

• Simplifying Your S Corporation Accounting
  Small business corporations save their owners income and payroll taxes. And that's great. Unfortunately, these corporations can often overly-complicate the business's bookkeeping. In this article, CPA Stephen L. Nelson suggests four ways to simplify the small corporation's accounting.
  Published 10Mar2009, viewed 328 times

• Bad Business Planning Ideas for a Recession
  A bad economy forces all businesses to do more business planning. But in the rush to do something, business owners and managers shouldn't make one of these three common mistakes, says business accountant and best-selling author Stephen L. Nelson.
  Published 09Mar2009, viewed 118 times

• Limited Liability Company Myths
  Thinking about forming a new business or venture as a limited liability company? Don't let one of the common LLC myths corrupt your decision-making, says CPA and author Stephen L. Nelson.
  Published 02Mar2009, viewed 89 times

• S Corporation Tax Planning Tips
  S corporations provide their owners with wonderful tax savings opportunities. Unfortunately, S corporation accounting can be a little tricky--especially for small business owners and their bookkeepers. In this short article, CPA and bestselling QuickBooks for Dummies author Stephen L. Nelson provides three tips for assuring that S corporations don't miss out on the tax saving opportunities available because of the accounting complexity.
  Published 28Feb2009, viewed 404 times

• Busting the Incorporation Tax Myths
  New business owners sometimes believe the goofy urban myths about how incorporation can save the small business entrepreneur income taxes. In this short article, CPA and tax professor Stephen L. Nelson explains which bits of tax law lore are false and shouldn't be used in making the decision to incorporate.
  Published 28Feb2009, viewed 107 times

• Internet Marketing Tips for Small Businesses
  Small businesses looking for a way to boost their revenue can find no better tool that a simple website says business consultant, author and ecommerce entrepreneur Stephen L. Nelson. In this short article, Nelson provides tips for making sure such a website produces great results.
  Published 28Feb2009, viewed 95 times

• Incorporation Tax Blunders: Mistakes No Small Business Should Make
  Incorporating a small business can save the business owners thousands of dollars annually in taxes. But in order to safely harvest those tax savings, the corporation needs to avoid some common mistakes.
  Published 03Jan2009, viewed 171 times

• The Psychology of Business Plan Blunders
  Planning a new venture is always tricky. But entrepreneurs can ease the planning process and improve the final result by avoiding some common psychological traps.
  Published 03Jan2009, viewed 180 times

• Answering the LLC versus S Corporation Question
  Small business owners and entrepreneurs sometimes find the LLC vs S corporation question confusing. But one tax professor says the question is easy to answer if you understand how LLCs work.
  Published 17Dec2008, viewed 91 times

• Year-end Tax Accounting Checklist for S Corporations
  S corporations can save their owners thousands of dollars a year in taxes--which explains their popularity among small business entrepreneurs. Unfortunately, S corporation year-end bookkeeping can confuse and befuddle new and experienced S corporation owners. Use this checklist to simplify the year-end process.
  Published 16Dec2008, viewed 264 times

• Business Planning for an S Corporation
  According to the Internal Revenue Service, S corporations represent the most popular form for doing business in the United States. That popularity isn't surprising given the tax benefits of using an S corporation. But the popularity does mean that entrepreneurs need to understand what's different about business planning for an S corporation. This article does just that.
  Published 19Nov2008, viewed 97 times

• Three Great Reasons to Start a Business Now!
  Worried that now isn't the right time to start your own business? One small business CPA says now may just be the very best time to start a business--and for three compelling reasons.
  Published 19Nov2008, viewed 108 times

• Using IRA Money to Start Your Own Business
  Starting a business requires capital--and one place to get that capital is from one's IRA accounts. Predictably, however, the small business entrepreneur needs to be careful about using IRA funds to start a business, as one accountant explains.
  Published 06Nov2008, viewed 1250 times

• Business Tax Planning for an Obama Presidency
  Whether you voted blue or red, if you're a small business owner, you probably want to plan now to reduce business taxes you pay under an Obama presidency.
  Published 04Nov2008, viewed 158 times

• Starting a Small Business on a Budget
  Getting the money to start a small business constitutes one of the first, big challenges to wannabe entrepreneurs. But one CPA says people can use several tricks to start a business on a budget.
  Published 03Nov2008, viewed 164 times

• Starting a Business in a Bad Economy
  Starting a small business in a recession is tough. But the dark clouds of a bad economy include some silver linings, as one small business CPA explains.
  Published 01Nov2008, viewed 166 times

• Writing a Business Plan in a Recession
  Need to write a business plan for the bank or an outside investor? The author of MBA's Guide to Microsoft Excel explains how you need to adjust the business planning process when the economy is in a recession.
  Published 27Oct2008, viewed 505 times

• When You Don't Need to Write 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.
  Published 25Oct2008, viewed 132 times

• CPA Gives Five Reasons You Should NOT 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.
  Published 04Oct2008, viewed 431 times

• Small Business Bookkeeping Blunders
  Avoid the five most common small business bookkeeping blunders by using this CPA's end-of-year accounting tips.
  Published 04Oct2008, viewed 121 times

• CPA Tips for Simpler 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.
  Published 01Sep2008, viewed 195 times

• Using S Corporations 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.
  Published 30Aug2008, viewed 238 times

• A CPA Explains How to Fire Your Financial Planner
  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.
  Published 24Aug2008, viewed 258 times

• Professional's Guide to Business Incorporation
  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.
  Published 19Aug2008, viewed 246 times

• Forming a Professional 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
  Published 17Aug2008, viewed 277 times

• Picking a CPA for your New Business
  Need to find a good certified public accountant, or CPA, for your new business? Using these five tips will make your selection easier.
  Published 07Aug2008, viewed 310 times

• 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.
  Published 31Jul2008, viewed 156 times

• The Successful C Corporation Owner's Wealth-building 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.
  Published 28Jul2008, viewed 304 times

• Seven Helpful Tips for Incorporating in Nevada
  Considering incorporating in Nevada? Use these seven tips to minimize mistakes and maximize the benefits
  Published 18Jul2008, viewed 138 times

• Seven Tips for Incorporating in Florida
  Thinking about incorporating in Florida? Consider these seven tips says one small business accountant to make incorporation easier and most beneficial.
  Published 15Jul2008, viewed 172 times

• Avoiding Small Business 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.
  Published 09Jul2008, viewed 209 times

• Protecting Assets with a Limited Liability Company
  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.
  Published 01Jul2008, viewed 238 times

• Paying the Owners of 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.
  Published 27Jun2008, viewed 330 times

• Can Your Business Operate 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.
  Published 26Jun2008, viewed 434 times

• How to Name Your New Limited Liability Company
  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.
  Published 19Jun2008, viewed 156 times

• Setting Up Microsoft Small Business Accounting Program for an LLC
  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.
  Published 18Jun2008, viewed 243 times

• Setting 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.
  Published 12Jun2008, viewed 667 times

• Five Tips for Improving Small Business Cash Flow
  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.
  Published 07Jun2008, viewed 233 times

• When Operating Your Business as a C Corporation Saves Tax
  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.
  Published 06Jun2008, viewed 166 times

• Why You Maybe Shouldn't Incorporate Your Small 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.
  Published 31May2008, viewed 189 times

• S Corporation Tax Blunders
  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.
  Published 24May2008, viewed 893 times

• Five Reasons to Start Your Business 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.
  Published 23May2008, viewed 555 times

• Easy Pension Options for Small Business Owners
  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.
  Published 15May2008, viewed 218 times

• Turn 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.
  Published 08May2008, viewed 227 times

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