The Entrepreneur’s Corner

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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Glen Allen HS student earns playwriting residency


A play written by a Glen Allen High School junior was selected, along with seven others, to be performed professionally this summer through a nationally acclaimed Virginia high school playwriting program.

47B, a play written by 16-year-old Glen Allen High school student Dominique Dowling, was chosen by New Voices for the Theater, a playwriting competition sponsored by the School of the Performing Arts in the Richmond Community, from a pool of more than 150 plays by high school students in the state. > Read more.

Missing Eastern Henrico man found dead

Henrico Police have found the body of a missing Eastern Henrico man.

The body of 25-year-old Taj Rashad Bullock, who was last seen June 10 in Eastern Henrico, was found June 20 in a wooded area in that part of the county. > Read more.

Henrico Schools to participate in USDA summer food service


Henrico County Public Schools, through its Division of School Nutrition Services, will participate in the 2017 Summer Food Service Program administered by the US Department of Agriculture. The program provides meals to students enrolled in Henrico Schools summer programs or in those run by the Henrico County Department of Recreation and Parks.

Food service will be provided Monday through Thursday each week. (All sites will be closed Tuesday, July 4, in recognition of Independence Day.) Breakfast will be served from 7 a.m. to 9 a.m. Lunch will be served between 10 a.m. and 1 p.m., but specific lunch times will vary depending on the site. > Read more.

Henrico to offer July 20 class on treating opioid overdoses with naloxone

The Henrico County Division of Fire and Henrico Area Mental Health & Developmental Services (MH/DS) will present a free class Thursday, July 20 on how to administer naloxone to potentially save the life of someone who has overdosed on opioids.

The Revive! Opioid Overdose and Naloxone Education for Virginia class will be held from 5:30 to 7 p.m. at the MH/DS offices at 4825 S. Laburnum Ave. > Read more.

Crime Stoppers’ Crime of the Week – June 20, 2017


Police in Richmond are still looking for the person who they say robbed the FasMart at 2107 Semmes Avenue. Crime Stoppers needs the public's help identifying this suspect.

The robbery occurred at approximately 12:45 a.m. on Wednesday, May 31. The suspect entered the store pointing the weapon at the store clerk. As the suspect walked toward the counter, a second employee approached the suspect and grabbed the barrel of the weapon. > Read more.

Henrico Business Bulletin Board

June 2017
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The Richmond Brain Aneurysm, Stroke and AVM Support Group meets on the second Tuesday of each month from 6:30 p.m. to 8 p.m. at the Bon Secours St. Mary’s Evelyn D. Reinhart Guest House, 1100 Libbie Ave. The support group is sponsored by the Joe Niekro Foundation. For details, email .(JavaScript must be enabled to view this email address). Full text

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