Henrico County VA

The Entrepreneur’s Corner

Why hire an accountant or tax professional?
Taxes! Accounting! These words often don’t inspire excitement. In fact, they generally inspire angst and frustration. For a small business, they can have quite an impact. Many business owners generally try to handle these responsibilities on their own as a cost savings measure. Let’s examine this common misconception.

The reason these words inspire such angst is because they involve complex and confusing rules that are constantly changing. How can you stay on top of these rules and run a small business at the same time? Does it really matter? Yes! You could be missing out on valuable tax deductions for your business, such as the Sec. 179 depreciation deduction.

I’ve found that lots of small businesses will spend hours each month trying to get through the monthly accounting or worse yet, wait until year end. A good accountant will be able to give you an estimate of how much time they will spend each month so that you can spend that valuable time serving your clients and generating revenue for your business. Often you will find that you can make more money focusing on your core strengths and outsourcing the tasks that consume too much of your valuable time.

You can also gain valuable insight into your business on a monthly basis by having a profit and loss statement generated. Use your accountant’s expertise to help you understand the numbers and what picture they are painting of your success or how they can identify opportunities for improvement.

By focusing on your core business and outsourcing your accounting work, you will spend less time and money overall. When your tax professional is the same person who does your accounting, that person won’t have to spend as much time reviewing and correcting what’s been done because he or she already knows and understands your business. That time can be spent on helping you save money by applying the tax laws to your business monthly.

How do you select accounting and tax professionals? There are several factors you should consider as you go through the selection process. What qualifications do they have? Do they have other clients in your line of work? How long have they been accountants? Do they have any certifications? Are they members of any professional organizations that require continuing education in their fields of expertise? Are they keeping up with the technology (i.e. software, electronic document storage, etc.) in their fields? Do they complement your personality and goals?

Once you select a professional who meets your requirements, you can rest easy and focus on what you do best. No longer will angst and frustration be associated with taxes and accounting, because now you know how to relieve this stress from your business!

Eric Moore is an enrolled agent and president of Earl W Moore & Co., Accounting &Tax Service, specializing in accounting services for small businesses and taxation for individuals and businesses. Contact him by calling (804) 266-8846, visiting http://www.ewmooreaccounting.com or e-mailing .(JavaScript must be enabled to view this email address).
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Community

‘Secret Keeper Girl - Crazy Hair Tour’ returning to West End Assembly of God

Hundreds of 'tweens' and their moms will attend the Secret Keeper Girl Crazy Hair Tour at West End Assembly of God on Jan. 22 at 6:30 p.m., a popular Bible-based tour geared toward building and strengthening relationships between mothers and their daughters (typically ages 8 to 12).

The event will feature a full fashion show, oversized balloon sculptures and confetti cannons – all in the name of inner beauty, Biblical modesty and vibrant purity. > Read more.

OutRVA, ‘Say I Do!’ to give away all-expenses paid wedding at Lewis Ginter

OutRVA and Say I Do! have collaborated to offer LGBT couples an opportunity to win an all-expenses-paid wedding at Lewis Ginter Botanical Garden’s Robins Tea House on March 7.

In September, Richmond Region Tourism launched OutRVA, a campaign designed to show people Richmond’s strong LGBT community and highlight the area as a travel destination.

The winning couple will say "I do" in a ceremony coordinated by event designer and floral artist Casey Godlove of Strawberry Fields Flowers & Gifts and marriage concierge, Ayana Obika of All About The Journey. The couple will receive wardrobe and styling, a custom wedding cake, florals, an overnight stay at the Linden Row Inn (including a suite on the day of the wedding for preparation), and a post-wedding brunch at the Hilton Garden Inn on Sunday, March 8. > Read more.

No CVWMA collection delays for Lee-Jackson, MLK holidays

CVWMA residential recycling and trash collections will continue as regularly scheduled for the Lee-Jackson (Jan. 16) and Martin Luther King, Jr. Day (Jan. 19) holidays. Residential recycling collections on Friday, Jan. 16 and the week of Jan 19-23 will take place on normal collection day. Residents should place recycling container(s) out for pick-up by 7 a.m. on their regular scheduled collection day. > Read more.

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Entertainment

Weekend Top 10


For our Top 10 calendar events this weekend, click here! > Read more.

CAT Theatre announces auditions for ‘Quartet’

CAT Theatre will hold auditions for Quartet on Saturday, Feb. 21, from 4 p.m. to 7 p.m., and Sunday, Feb. 22, from 3 p.m. to 6 p.m. Auditions will be held at the theatre, located at 319 N. Wilkinson Road in Richmond. Quartet will run May 22 through June 6 and will close out CAT’s 51st season.

Director Laurie Follmer is seeking two males, ages 50-70 and two females ages 50-70. British accents are required for roles and are requested for auditions. There is no actual singing in the show. Singing ability and experience is not a requirement. Audition sides are available at http://www.cattheatre.com on the Audition Page. > Read more.

Restaurant watch

Find out how your favorite dining establishments fared during their most recent inspections by the Virginia Department of Health. > Read more.

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