The IRS audits only a small percentage of business and personal tax returns annually, because they lack the manpower to do extensive audits. However, there are “Red Flags” the tax return scanning system picks up that could target your corporate or personal return.

If your return is selected for review, you have nothing to worry about if you haven’t mis-stated the numbers on your return, and you have receipts to back you up.

Even though the odds of you getting audited may seem low, those odds increase dramatically based on your income and the types and amounts of deductions you claim. The higher your income the more likely your return will be selected, math errors make you more suspect, and taking larger than normal amounts of deductions in certain categories can trigger an audit. (more…)

Money Management Solutions – Who We Are (Audio Recording) 

Listen as Sandra Simmons, President and Founder of Money Management Solutions, Inc. discusses how the company helps business owners take control of their financial future instead of being controlled by the balance in their bank account.

Transcript:

I’m Sandra Simmons with Money Management Solutions. We provide practice owners with a cash flow management software system and coaching system that allows the business owner to easily take charge of their financial future rather than being controlled by the balance they have in their bank account.

We help business owners correctly manage the cash and assets of their business to insure its survival, and train the business owner how to control the income and outgo of cash to move from just making a living to developing real wealth.

In essence we help them develop into a cash cow company that makes more profit than it needs to survive, and train them to manage the flow of cash so they can raise the cash cow rather than sacrificing it, and reach the financial goals they set when they made the decision to open their practice.

We have worked with practices that are deeply in debt, literally on the verge of bankruptcy, and have dug them out of the soup and set them on the road to solvency.

We have also worked with practices that make so much money that they end up needlessly wasting a lot of it so they have lots of material stuff, but they still don’t have long-term financial security.

To illustrate how that is true for my clients, here’s a testimonial from a client who said

The Money Management System and Sandra’s help allowed me to fix my financial problems and change the way I do business resulting in surviving this economic turmoil. I know for a fact that I would not have been able to save my business without this change.

Our Money Management Planning system gets results – and we guarantee those results when the system is used exactly as intended without alteration.

To learn more about how to turn your company into a cash cow, spend some time looking around at our website or give us a call.

I really love helping business owners with their money management and internet advertising, so I spend the majority of my days sitting at my desk working on the computer and phone. It seems that the work never ends. There are hundreds of thousands of small business owners out there who need help on their finance lines.

The sedentary working life isn’t good for my health, so Brian, my Chief Operating Officer and I like to get out and get some exercise. It makes us feel better and clears our heads; and that makes us more efficient when we are at our desks.

Yesterday it was cold in Florida, so instead of going for a long walk outside, Brian wanted to go to the gym and shoot hoops on the basketball court instead. Okay, I was game for something new, so I decided I’d go along and learn to shoot hoops and get my work out that way.

First thing I had to learn was how to hold the basketball and the basic technique of flipping my wrist to propel the ball up and toward the hoop. Once I had that down it was learning about where to look when I was shooting the ball so it would go through the hoop.

I quickly realized that if I aimed dead center at the rim of the hoop that I could be a little off to the left or right with my shot and it would still go through. Then it became how much energy I put into shooting the ball. Too little and the ball would not get up and over the rim. Too much and it would bounce off the backboard or just fly over the hoop.

I started thinking about business money management and promotion using internet advertising to increase income in relation to shooting hoops. Once you have the basic fundamentals down you can make the basket [get the customer sale] almost every shot.
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The following is a transcript of a telephone conversation with Sandra Simmons, President of Money Management Solutions and creator of the Money Management Solutions software system…

Sandra Simmons, President Money Management Solutions

Sandra: Hi [name withheld] how can I help you?

Business Owner: Your business money management software doesn’t work for my business.

Sandra: What do you mean exactly when you say it doesn’t work for your business?

Business Owner: Well, for one thing, what good is going to all the trouble to fill out the budget? I already know how much money I’m spending.

Sandra: The budget module isn’t meant to tell you how much you’re spending. It’s designed to tell you how much you should be making.

Business Owner: What?

Sandra: And just making break even isn’t good enough, you have to budget to do better than break even.

Business Owner: Huh?

Sandra: Have you built your budget in the Money Management Solutions software?

Business Owner: Yeah.

Sandra: Okay good. How much did you budget for your Emergency Fund?

Business Owner: My what?

Sandra: Your Emergency Fund.

Business Owner: What’s that for?
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