Increase Your Profits with Business Model

I am amazed that when I ask a small business owner if they have a “business model,” many of them shrug their shoulders and say no.

A business model is sort of like a map to help you get where you want to go. As the saying goes, “you can’t get there if you don’t know where you’re going.”

ByTheBook Keepers delights in helping you “find your way.”

Here is an overview of our business model that you can use as a guide. It can be as short or as long as you like and you should review it at least monthly, fine tune it or change it as your market conditions warrant:

1. Our clients are:
a. Small business owners who are just starting out.
b. Small business owners who have been in business for at least a year and know their time is better spent on building their business.
c. Solo professionals such as attorneys, consultants, business coaches who “just don’t have time” to keep their own books.
d. Taxpayers of all types who need help with tax preparation, tax planning and representation when the IRS calls for an audit or overdue taxes.

2. Our purpose is: to help business owners focus on building their business, not building their books, and to help them prepare for tax time.

3. We deliver our services through Xero and QuickBooks Accounting programs, and additional programs that can feed into them.

4. Our pricing is: We price our services competitively in the market place with the overriding principle of delivering more value that what we charge.

5. Our Principles are:
a. We provide the best of service possible.
b. We provide services timely and correctly.
c. We deliver what we say, when we say we will do it.
d. We deliver services with integrity.

What is your business model?

Jerry Slade, CEO
206-780-0536 x108

ByTheBook Keepers, Inc. | (888)828-8200 x108
btb@ByTheBookKeepers.com | www.bythebookkeepers.com
18864 Front St. Suite 200, Poulsbo, Wa 98370
364 Wyatt Way NE, Bainbridge Island, Wa 98110
3637 Stevens Creek Blvd., San Jose, California 95117

Posted in Uncategorized

Sales Taxes To Get More Difficult

Accounting Today recently published an article that deals with the fact that States are looking harder to raise money from Sales and Use Taxes in order to overcome higher levels of income needs and expenditures.  No doubt, sales tax reports will get more difficult to prepare in the future.  Reporting, due to better and better state run websites, gets easier but the underlying work to prepare the report correctly and sustainable in an audit will get more difficult, much like income taxes that always get more complicated, not less.

State and local governments are still struggling for revenue since the downturn,” said Pascal Van Dooren, chief financial officer for Avalara Inc., a provider of sales tax and compliance automation services in the cloud. “State revenue departments are hiring auditors and chasing down smaller and smaller businesses looking for missed revenue opportunities.”

The chief method that states are using is to expand the collection of taxes by businesses and increase Use tax which is basically charging consumers for sales tax when they buy goods and services from out of state companies as well as from online sources who don’t collect those taxes directly.  When states are able to find you more efficiently, they will and add to the burden of small business owners already besieged by more and more regulatory actions.

“We look for nexus standards to be expanded and redefined,” added Cory Barwick of Wolters Kluwer. “Services that have traditionally been exempt from sales taxes will have their status reconsidered, resulting in more taxes on services. The larger service industries will use their strength to ‘lobby out’ of sales tax, but smaller services will be increasingly taxed.”

What I am basically telling you is that sales tax filings are going to get more and more difficult and there will need to be technological support just to figure how much you have to pay.

ByTheBook Keepers, Inc., a company located in the Seattle area and serves small businesses and their owners, is diligent in its efforts to keep up with what is going on and will keep you advised.  For right now, small business owners need to get their bookkeeping act together so they can report their sales tax correctly and defend their reports in the event of an audit, which is sure to come sooner or later.

If you want to read the entire article in “Accounting Today,” here is the link: (It is a long one, so be sure to get it all and paste into your web browser.)

http://www.accountingtoday.com/news/accounting-technology/the-arms-race-in-sales-tax-75552-1.html?utm_medium=email&ET=webcpa:e5007137:2514525a:&utm_source=newsletter&utm_campaign=daily-aug%2024%202015&st=email

Good reading. Direct any questions you have btb@bythebookkeepers.com

Posted in Uncategorized

Why You Shouldn’t Do Your Own Bookkeeping

In the early 80s, I think it was, I was approached by Intuit to be an Alpha contributor to their brand new program called QuickBooks. I was happy to participate in the program as I was “doing” bookkeeping for a few Tax clients at the time and nothing else was very good for Bookkeeping then.

QuickBooks turned out to be a great program for larger “small businesses” and companies with an experienced accountant on board, but it was mostly sold to small business owners who were told they could do their own bookkeeping. Many could and still do, but… why? Read more ›

Posted in Uncategorized

IRS Can’t Handle Customer Service

IRS Commissioner, John Koskinen, has readily admitted the IRS cannot keep up with the needs of taxpayers to work out payment arrangements with them due to decreasing budget resources. It is even worse for CPAs, Attorneys and Enrolled Agents in trying to act on behalf of them. They have gone from almost instant to even worse access than taxpayers. It is almost as if the IRS is saying “screw the taxpayers’ representatives.” Let the taxpayers work things out for themselves.

Warning! The IRS has great advantage over the taxpayers who do not know how to assert their rights. Sure… those who can pay should and must, but what about those who can’t through no fault of their own? Read more ›

Posted in Uncategorized

Why Keep Books?

Why Keep Books?

No small business owner or provider of Professional Services likes to keep books.  Why?  Because the time it takes distracts them from doing the things necessary to “growing” their business.  Growing business is job #1 of a business owner.

When I started providing bookkeeping services to small business owners, way back in the ‘70s, banks had an inherent interest in being kept informed on a quarterly basis about what was going on.  Now, banks don’t lend money to small businesses unless the owner locks up the payback amount in a vault in the bank of the bank so that there is no chance for the bank to lose any money.

Because the IRS says you have to!!!

Read more ›

Posted in Blog

The Yellow Light Just Turned Red!

TODAY…THE YELLOW LIGHT JUST TURNED RED!!!

In an attempt to spread out the workload of the IRS, a few years ago, Congress eliminated the August 15th tax return extension deadline and made the deadline for individuals October 15th. While most people think of April 15th as the dreaded deadline, such is not the case.

April 15th is sort of like a yellow light at a busy intersection…..not much of a problem, if you speed up a little to drive through it before it turns red. October 15th is sort of like the yellow light turning to red. You’d best slam on the brakes and not be smashed by cars stepping on the gas to get where they are going. Read more ›

Posted in Blog

Harsher Enforcement Coming from the IRS

The IRS isn’t pursuing delinquent employers hard enough to pay over taxes withheld from employees, evidenced by the fact that as of June 2012, employers owed the government approximately $14.1 billion dollars in taxes withheld from their employees.  This doesn’t count the employer’s share of taxes that is about the same and the share that goes to the state which is about 1/3 of that amount.  Add them up… that’s about $33 billion dollars altogether.

Look for something harsh to come out of this. The IRS doesn’t just decide one day to wake up and investigate something like this… it is purposeful and probably comes from the desire to wring as much as possible from the small business employers, about 92% of which have 10 or fewer employees and are the primary culprits. Read more ›

Posted in Blog

Do You Have An Exit Strategy?

I have been advising small businesses and self-employed professionals for many decades on how to position their businesses for the day when the owner may decide to retire, sell or just plain run out of gas, for whatever the reason.

The first thing to realize is that whether you are an operating business or a profession, you are a business. Ask any successful independent attorney, CPA, Enrolled Agent or Financial Services Professional and they will tell you their business principles are of paramount importance. Read more ›

Posted in Blog

Why Can’t I Keep My Own Books?

Almost 75% of small businesses don’t even have a bookkeeping program they use, says Forbes Magazine in 2009 in an article about keeping books and the benefits to doing that. Most, who d not use QuickBooks or Quicken, use an Excel Spreadsheet for keeping track of their expenses.

What’s wrong with this updated “back of the envelope” method of keeping books? Here are a couple of things to consider: Read more ›

Posted in Blog

Letter From the Chairman

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On behalf of the directors, management and staff of ByTheBook Keepers, I would like to take this opportunity to welcome you to our company’s official website.

Our mission is to offer small businesses and professionals a choice of cost effective bookkeeping services that will provide your business with books that are always up-to-date in real time, accurate, and meet the true purpose of keeping books – for tax filing and IRS audit protection.

ByTheBook Keepers uses the latest technology to make it easier for you to perform your business bookkeeping responsibilities in less time and at a reasonable cost. We are pleased to partner with Xero, the global leader in cutting-edge accounting software, that allows our clients ease of use and documentation transmission, no matter where you or your business is located. Our bookkeeping packages have been created to fit your current business requirements with the capability to grow with your business.

ByTheBook Keepers is backed by 40+ years of excellence in bookkeeping, accounting, tax preparation and representation. When we are your bookkeeping experts, you can spend your valuable time doing what you do best…growing your business! Let ByTheBook Keepers take care of the your bookkeeping responsibilities that usually get left until late at night, when you could be out having a party with your kids, or that get left until the last minute before tax deadlines.

I am pleased you have decided to explore ByTheBook Keepers’ services and the products we offer and I encourage you to sign-up for a service package that meets your organizations’ needs. Please use our website to learn about us and explore the unique products and services we offer to serve your bookkeeping needs! Our knowledgeable and well-trained staff is always available to assist you.

Again, thank you for visiting our website.

Sincerely,

Jerry Slade
Chairman of the Board

Posted in Featured