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 was deeply touched by an email from a friend today, and could not help looking at the state of small businesses in America and deciding to share what was shared with me. I think the idea is important enough to be given serious consideration. The future of American jobs and American business may well depend on it during the upcoming season of giving.

As the holidays approach, the giant Asian factories are kicking into high gear to provide Americans with monstrous piles of cheaply produced merchandise that has been produced at the expense of American labor.

Let’s make this year different. This year Americans should seriously consider giving the gift of genuine concern for other Americans and the small businesses they own that provide jobs for Americans. There is no longer an excuse that, at gift giving time, nothing can be found that is produced by American hands. Yes there is!

It’s time to think outside the box, people. Who says a gift needs to fit in a shirt box, wrapped in Chinese produced wrapping paper? Almost everyone gets their hair cut. How about gift certificates from your local American hair salon or barber?

Gym membership? It’s appropriate for all ages who are thinking about some health improvement. Or gift certificates to the recipient’s chiropractor or dentist. Do they have pets? How about a gift certificate from their favorite veterinarian clinic?

Who wouldn’t appreciate getting their car detailed? Small, American owned detail shops and car washes would love to sell you a gift certificate or a book of gift certificates.

Are you one of those extravagant givers who think nothing of plunking down the $100 Benjamins on a Chinese made flat-screen? Perhaps that grateful gift receiver would like his driveway sealed, or the lawn mowed for the summer, or driveway plowed all winter, or games at the local golf course.

There are a bazillion owner-run restaurants all offering gift certificates. And, if your intended gift recipient isn’t the fancy eatery sort, what about a half dozen breakfasts at the local breakfast joint. Remember, folks this isn’t about big National chains, this is about supporting your home town American businesses with their financial lives on the line to keep their doors open.

How many people couldn’t use an oil change for their car, truck or motorcycle, done at a shop run by the American working guy?

Thinking about a heartfelt gift for mom? She would probably LOVE the services of a local cleaning lady for a day. Or for the busy working Mom with kids, maybe a day with a home organizing professional would be appreciated.

Does your gift recipient’s computer need a tune-up? I KNOW you can find some young guy who is struggling to get his computer repair business up and running.

OK, you were looking for something more personal. Local crafts people spin their own wool and knit them into scarves. Local artists make jewelry, and pottery, and hand painted scarves, and beautiful wooden boxes, and lovely paintings to grace your gift recipient’s home. You can probably even find a local American artist who makes greeting cards to present your gift certificates in.

Plan your holiday outings at local, owner operated restaurants and leave your server a nice tip. And, how about going out to see a play or ballet at your hometown theatre.

Musicians need love too, so find a venue showcasing local bands, and leave them a nice tip too, or buy their music CD.

Honestly, do you REALLY need to buy another ten thousand Chinese lights for the house? When you buy a five dollar string of light, about fifty cents stays in the community. If you have those kinds of bucks to burn, leave the mailman, trash guy or babysitter a nice BIG tip. Don’t forget your minister/pastor/priest or anyone else who gives to you in ways too many to list.

You see, Christmas is no longer about draining American pockets so thatChina can build another glittering city. Christmas is now about caring about US, encouraging American small businesses to keep plugging away to follow their dreams. And, when we care about other Americans, we care about our communities, and the benefits come back to us in ways we couldn’t imagine.

THIS is the new American Christmas tradition. Copy this and send it out in emails – post it to internet discussion groups – put up a post on Craigslist in the Rants and Raves section in your city – send it to the editor of your local paper and radio stations, and TV news departments. This is a revolution of caring about each other, and isn’t that what Christmas is about?

If you liked this article, leave a comment below and consider buying American this Chirstmas.

I often get asked by my business and practice owner clients for good ideas for marketing to attract new patients and customers.

I am a huge proponent of promoting because, done correctly, it drives up patient and customer counts, and drives up income. Here are my thoughts and ideas.

Referrals Are Pure Gold

I know you have heard this before, and it is absolutely true. But equally important to asking for referrals, and running a referral program, is finding an inexpensive, easy way to show appreciation to those who refer patients or customers to you.

I have found this SOCProgram works great and I use it all the time to send appreciation cards and even small high quality but inexpensive gifts, right from my computer. Check it out and try it out in step 2 for free. You can mail 2 cards at no cost to you, so mail one to someone else and one to yourself to experience what it is like to get a card from this fantastic service. (more…)