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

Architect of World Trade Center Memorial to speak in Henrico


Michael Arad, the architect of the World Trade Center Memorial, will be the keynote speaker for The 2016 Adolf-Adams JCC Forum on Sat., Jan. 30, 2016 at 7:30 p.m., at the Carole and Marcus Weinstein Jewish Community Center in Henrico.

Arad’s “Reflecting Absence” architectural design was selected from more than 5,000 competitive entries as the template for the Memorial’s construction in New York City. During the forum, Arad will discuss the significance and symbolism of the design, as well as his inspiration. The event, which is a highlight of the Weinstein JCC’s Patron of the Arts series, is open to the public > Read more.

Environmental Film Festival planned for February


The Sixth Annual RVA Environmental Film Festival (RVA EFF) will be held Feb. 1-7, 2016 at various locations, including in Henrico County.

A partnership of The Enrichmond Foundation, Capital Region Land Conservancy, Chesapeake Climate Action Network, and Falls of the James Group - Sierra Club, the festival will feature a number of insightful films designed to raise awareness of environmental issues relative to all residents of the planet and Richmond citizens in particular.

A detailed schedule will be released at a time closer to the festival, but the popular children's portion has been set for Saturday, Feb. 6, at the Byrd Theatre in Carytown. > Read more.
Entertainment

Weekend Top 10


Start celebrating Valentine’s Day a little early with Susan Greenbaum at The Cultural Arts Center at Glen Allen. She will present “An Evening of Love Songs.” Other fun events this weekend include Henrico Rec & Parks’ 30th annual One Act Showcase; “The Lego Movie” playing at the Henrico Theatre (tickets are only $!); and Robin and Linda Williams who will be performing at the Shady Grove Coffeehouse. And homeowners will really appreciate the free Home Improvement Seminar taking place at Harvie ES. For all our top picks this weekend, click here! > Read more.






 

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The Rotary Club of Innsbrook meets every Thursday at 7:30 a.m. at The Place at Innsbrook. For details, visit http://www.innsbrookrotary.org Full text

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