Myrick CPA | Tips and Tools for Managing Personal and Small Business Finances (36)

Posted by: Charles P Myrick CPA Posted on: Oct 22 2014

Do Nonprofit Organizations Have Tax Obligations?

If you're an officer or on the board of a community organization, you may wonder about the tax requirements that apply to your group. Generally, an organization will not owe taxes if two things are true:

* It has registered as an exempt nonprofit organization with the IRS, and
* It has no business income from activities unrelated to its exempt purpose.

Posted by: Charles P Myrick CPA Posted on: Oct 18 2014

Use the 80-20 Rule to Improve Your Business ROI

Understanding who your customers are and what they want is essential for growing your business ROI. For example, can you say which of your customers are the most profitable? In most businesses, a simple but undeniable axiom exists: 80% of your profits come from just 20% of your clients. See how this vital rule applies to other categories of customers as well.

Posted by: Charles P Myrick CPA Posted on: Oct 17 2014

The Buy-Sell Agreement is a Vital Document

Every business should give serious consideration to how the company would deal with the death, disability, or departure of one of the owners. Like a will, a buy-sell agreement (also known as a business continuity or business operating contract) spells out how to distribute assets and other business interests should an owner quit, become disabled, or die.

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