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Since 1993, BOSS Business Services has been a leader in asset protection planning, tax advice, tax preparation, estate planning and business entity structuring. Do you need a virtual office, a staff to keep your books and records, or answer your phones? BOSS Business Services is your answer.
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Helpful Articles and Links
View our E-Newsletter Archives
The June edition of our e-newsletter is now available on our e-newsletter archive page. Join our e-newsletter to receive current articles on everything from tax reductions, law updates and general business articles on saving time and money. Click the "More Info" button to view the archives.
BOSS Business Brief
Are you looking for business financing? This is a brief you will want to listen to...
Click on the "More Info" to listen to the BOSS Business Brief.
BOSS Business Brief
This week's show covers two subjects: renegotiating mortgages and low-cost marketing ideas. Listen in by clicking the "More Info" button.
INC U was a Phenomenal Success
This most recent INC U in Atlanta Georgia was arguably the most beneficial INC U to date in terms of providing attendees with information that could be implemented immediately with immediate results.
Brian Tracy taught the first day and provided exceptional insight into the mindset needed for achievement as well as giving concrete examples of things the attendees could do to increase productivity and their success right way.
Attorney Rod Buttars taught a section on corporate compliance that was also well received and helped attendees get their minds around running their businesses properly from a compliance standpoint.
Attorney Michael Bowman and Accountant Emitt Samon gave instruction on how mortgage modifications actually work and gave attendees insight on how to negotiate with lenders from everything from primary residences to rentals and commercial properties. It was "eye-opening" as one attendee put it.
Finally, CPA Steve Kalt dove into taxes and financial statements. Using Apple, GE and other companies' balance sheets and income statements as examples, he gave attendees insights into reading the various financial statements and how to determine the direction a company may be headed. He finished by going over proper accounting for businesses.
Be on the lookout for future events.
BOSS Business Brief
This show focuses in on what we call the 4 Universal Rules of Business Success. Follow these rules and you have a great chance of running a successful business. Fail to follow them at your peril. Click the "More Info" link to listen in...
Good Fortune Article
I like brain food - things that are easy to remember and that can act as a personal sounding board to help me overcome obstacles. This article (click on the "More Info" to read is one of those articles that is simple: The three stages of business are start up, throw up and grow up.
I apply something similar to most business decisions. There is the conception of an idea and its implementation. Then you do a reality check and see if it is working. Then you make hard decisions as to the idea's future. The "reality check" requires good information. In business, that information generally requires good numbers (i.e. good accounting). The one glaring issue in the article is that bad accounting can only delay the inevitable - numbers do not lie. Read on to learn more.
- Toby Mathis
BOSS Business Brief with CPA Brett Campbell
In this show, CPA Brett Campbell joins us to explain the various designations that tax professionals use, how they acquire them, and what they actually mean. EA? CPA? Accountant? What do they mean and what is the difference? The answers may surprise you. Click the "More Info" button to listen in...
The Seven Deadly Business-Killing Sins
This is an interesting article that has merit for traditional small businesses. While it is brief and to the point, all of the points are relevant as we have seen each one cause major problems for existing businesses and their owners. Click on the "More Info" button to read the article.
Archive of May 2009 Newsletter
Sign-up for your free business and tax e-newsletter by clicking on the sign-up button on below. If you would like to read last month's edition, click on the "More Info" link and you will be taken to the newsletter that includes articles on the following: Retired and Going Back to Work; The Kiddie Tax; Tax Ramifications of Disposing of Business Assets; Quickbooks Tips; Disability Home Modifications; How to Treat Losses in Sec. 529 Tuition Plans; and much more...
New BOSS Business Brief with Brian Tracy
This week we had Brian Tracy on the BOSS Business Brief. Brian Tracy has authored over 70 books and over 400 educational programs on goals setting, personal development, sales and success. Just listening to the brief will give you ideas that you can implement immediately to improve your business. Click on the "More Info" to listen in.
Mr. Tracy will be teaching his One-Day MBA class for INC U on June 24th on Atlanta. Click on the INC U header above to learn more and to register.
Boss Business Brief
This show is a must listen for any business with net profit over $300,000. You are the target of an increasing aggressive administration, but you actually have the power to do some truly unique planning to do something about it. Remove yourself from unwanted targeting by taking advantage of government-approved planning opportunities. Listen in by clicking on the "More Info" a Kenner French is interviewed.
BOSS Business Brief
This week's business brief focuses on the real impact increased business taxes have on many folks. Click on the "More Info" to listen in.
Are American's Getting More Confident About The Economy?
Well, it appears people are starting to feel like we may get out of the mess we are in says a recent survey by the Reuters/University of Michigan Surveys of Consumers. Click on the "More Info" to read the article. Folks must be thinking that it can't get much worse. Let's hope they are right.
A Different Kind of Asset Protection - Your Computer Hard Drive
When your computer’s hard drive stops working you can lose everything, from important corporate documents to irreplaceable family pictures. Then your local computer store tells you the hard drive is dead, what are your options? Whether it is an out of control virus or a building fire, there are services you can use to retrieve the information stored in your computer. Click “More info” for a tour of one hard drive going through such a process. This story follows the hard drives of the Cedar Rapids School District as they went from being beneath flood waters to having their data recovered. It is important because it tells you want not to do when you experience a hard drive catastrophe.
Fox News BOSS Business Brief
Fox News in Las Vegas now has the BOSS Business Brief running twice a week. This is the initial show broadcast on Fox News 1280. Click on the "More Info" to listen in...
Can the Loss from Your LLC Offset Income From Your Corporation?
In closely held businesses, it is fairly common for an owner to own a building in an LLC and rent it to another entity in which the owner has an interest. The question from a tax perspective is whether this changes the tax treatment of any losses flowing from the LLC. Click in the "More Info" to read more.
BOSS Business Brief Radio Show
Part 2 of 2: Contracts 101 - This is the second part of our 2 part series on the basicv elements of contracts. This is just like law school only you do not have to study and there is no test. Click the "More Info" link to listen.
BOSS Business Brief
Contracts 101 - we go over the basic elements of a contract: Offer, Acceptance and Consideration. This is just like law school only you do not have to study and there is no test. Click the "More Info" link to listen.
Doing good—it may be worth another deduction
You’ve probably made qualified charitable donations and taken the available tax deductions. At the same time, there are other, less-well-known tax savings you can also take in the name of charity.
BOSS Business Brief Radio Show
This brief has Steve Pellegrino and Toby Mathis reviewing several successful renegotiations of investor debts including reductions in principal, interest and terms. Click the "More Info" button to listen.
Eating & Drinking is Serious Business
Do you frequently take clients out to lunch or dinner—or maybe even to sporting events? You are probably already aware that you can claim the 50% deduction for business meals, but there may be some other nuances to the tax code you might not even know about. For example, if you truly have a “working lunch” (such as sandwiches in the conference-room meeting), you can claim 100% of the cost as a deduction.
Make sure to keep track of any entertainment expenses you incur entertaining clients or customers. Many of these can qualify to be 100% deductible (or at least 50% deductible) depending on the circumstances.
For more information, click on the "More Info" link below and you will be taken to IRS Publication 463.
BOSS Business Brief
This brief focuses in the minutiae that sometimes gets in the way of running a business. Listen to the BOSS Business Brief as heard on KNUU in Las Vegas. Click on the "More Info" to listen in...
The History of Tax Freedom Day
April 13 was Tax Freedom Day for 2009 as defined by the Tax Foundation. If you used the projected federal budget deficit, the actual 2009 Tax Freedom would be May 29th. This just means that the tax collected is a less than the spending taking place. If you added the deficit as though it was a collected tax, you would arrive at the May 29th date. As it stands, the most accepted Tax Freedom Day would be the total tax collected divided by the nation's total income. The end result is that taxes will account for 28.2 percent of our income or 103 days of the year. To read the historical date, please click on the "More Info" link below and you will be taken to the Tax Foundation’s Special Report on Tax Freedom Day.
BOSS Business Brief
Starting a business? This week's show goes over a short start-up checklist for folks who are thinking of starting a new business. Click on the "More Info" link below to listen.
Time to File Extensions
Okay. You waited a bit too long to complete your tax return and you are now sweating bullets. Do not fret; you are probably entitled to an automatic 6-month extension to file your tax return (5-months for partnerships). This goes for both you and your business. Click on the "More Info" link below to get links to the required forms.
BOSS Business Brief
This week's show has AMR Partners Steve Pellegrino going over guerrilla marketing tactics using billboards, press releases and radio. Click on the "More Info" to listen.
Interesting Link
This is a faily useful checklist for the 2008 tax season. Click on the "More Info" to read the article.
The 16 Laws of Protecting Your Real Estate Investments Webinar
This Webinar is scheduled for April 8 at both 6:30 EST and 6:30 PST. Click the link to learn more and/or to register. It should be interesting.
Interesting Post from Clint Coons
Counting on a deduction? You better read the fine print.
We are all familiar with the old saying "there are no guarantees in this life other than death and taxes." For those who pass away in 2010 the guarantee was death but not estate taxes. Now I doubt anyone is planning around this one time tax break but if you are taking note, this may not be the case anymore.
BOSS Business Brief
This BOSS Brief focuses on starting a business. Do's and Dont's and how to keep your doors open why others fail. Click on the "More Info" link below.
Use Your Home For Business
The 280A deduction (shareholders renting their residences to their corporations) you may have heard about is not often mentioned in the popular media; however, MSN recently posted a video of a tax professional spelling out how the deduction works and the "do's" and "don't" of the 280A deduction. Click on the "More Info" link to view the video.
Who is the IRS Targeting?
This is another interesting video from MSN Money. At BOSS, our professionals often make the distinction between a client's "business self" and "personal self" by creating a formal business structure to house a business. It has a benefit of preventing the the blur that often occurs when someone operates as a sole proprietor.
The IRS is looking to close the tax gap that they believe is caused by sole proprietors understating income and overstating expenses. The easiest way to keep from being a target is to separate your business from your personal realm and to keep good books and records. In a nutshell, keep your business accounts separate from your personal accounts and do not commingle.
Watch the video by clicking the "More Info" link below.
Archived Newsletters
Have you missed any of the e-newsletters we have sent this year? Click on the "More Info" to go to our archives page.
Free Tax Organizers
Do not wait until the last minute. Dowload your free tax organizer. We have individual, corporation, and partnership (and LLCs) organizers. Click on "More Info" or go to our downloads page to download the appropriate tax organizer(s).
BOSS Business Brief
This brief is on modifying mortgage terms and how it applies to investors. Workshop announcement. Click "More Info" to listen.
March 21st at the Suncoast
One of our accountants and an attorney from our offices will be speaking on Saturday, March 21st at the Suncoast in Summerlin to go over the mechanics of mortages and how to renegotiate terms. The event is being held by Essential Wealth. Workshops will be held at 11am and 1pm. Click below to visit the Essential Wealth website.
BOSS Business Brief
This week's show focuses on opening a business when the economy is weak. How do you open a business and make it work when money is in short supply? Do I jump in or gradually start a business? Listen in to get good ideas on how to keep things lean.
Part-Time Commuting: Big-Time Deduction
Do you have two jobs or commute between workplaces? Click below to see how this can equal tax savings.
New BOSS Business Brief
This week's radio show had Clint Coons joining Toby to discuss smart business start-ups and how to open a business in a down market. Click on the link below to listen.
Don’t forget: deduct your Private Mortgage Insurance (PMI)
Make sure you take advantage of this limited-time deduction (scheduled to end in 2010) if you pay PMI.
New BOSS Business Brief
In this radio show, Alan Pariser is interviewed and discusses how he built a successful home based business over the last 17 years and generates over $90,000 net income monthly in residual income.
Alan has meetings in Las Vegas on March 2nd where he has invited folks to hear the whole story of how he built his business and how just about anyone can do the same.
He has meetings at the Renaissance Las Vegas Hotel at noon and 6pm. These are free. If you are in Las Vegas, it may be worth listening in as it is always nice to hear positive stories of how people built successful businesses.
The Renaissance is located at 3400 Paradise Road in Las Vegas.
Listen to the interview by clicking the link below.
American Recovery and Reinvestment Act Highlights
The American Recovery and Reinvestment Act of 2009 is now law as I am sure everyone (who has not been living under a rock) has heard. Here are some of the highlights (or lowlights, depending on your point of view) for businesses.
INC U Reminder
The INC U Workshops are close to full. If you are thinking of attending, please click the link below to register. Time is running out.
The INC U Workshops are designed for existing business owners who want to maximize their profitability and reduce expenses. Held on March 2nd and 3rd in Las Vegas, these workshops will cover:
Workshop 1: Tax & Accounting for Business 101
Workshop 2: Asset Protection in Action: Holding Onto Your Money in Troubled Times
Click on the link to learn more.
Important Tax Dates
Here are some of the important filing deadlines for both individual and business tax returns.
Good News For Real Estate Owners
You have seen and heard (if you listen to our business briefs on KNEWS) us discuss renegotiating debt rather than defaulting (or at least to prevent defaulting). Our accountants have been extremely successful in negotiating interest rate freezes and reductions for investors. U.S. Treasury Secretary Timothy Geithner testified before the Senate Banking Commitee that the focus of the government will be on reducing interest rates and mortgage payments. Finally, a little common sense. Read more by clicking below.
Looks like Modifying Mortgages May Be a Required
U.S. Treasury chief Timothy Geithner is applying pressure on banks to rework existing mortgages. Click on the link to read more.
E-Newsletter for February 2009
View our most recent Newsletter. Click "More Info" to go to the BOSS E-Newsletter Page to view the February 2009 newsletter as well as several recent editions.
Investors: Year-End Forms May Arrive Later
A new law, enacted last fall, changed the due date of many 1099 forms to Feb. 15, when brokers, including brokerage firms, mutual fund companies and barter exchanges, must furnish year-end Forms 1099-B to their customers. Where a broker furnishes these forms by mail, this means that the forms must be mailed, not received by that date.
BOSS Brief Radio Show
This clip is on Mortgage Modifications and how we are obtaining them for investors. We go over a few examples of actual modifications we have obtained recently for our clients.
Records You Should Keep for Tax Purposes
Except in a few cases, the law does not require any specific kind of records. You can choose any recordkeeping system suited to your business that clearly shows your income and expenses.
This Week's Radio Show
This week on the radio show, we went over personal financials including how to calculate your debt-to-income. Go to our downloads section for our calculators so you can see what your debt to income and net worth are...
Click on the link to go to the audio of the BOSS Business Brief.
2008 Tax Organizers
Follow the link to all of our 2008 Tax Organizers (FREE Downloads) to help you file both your, and your business, tax returns. Individuals, corporations, partnerships...are all included. Click the link.
Two New INC U Workshops
BOSS Business Services is pleased to offer 2 new INC U Workshops designed for existing business owners who want to maximize their profitability and reduce expenses. Held on March 2nd and 3rd in Las Vegas, these workshops will cover:
Workshop 1: Tax & Accounting for Business 101 Workshop 2: Asset Protection in Action: Holding Onto Your Money in Troubled Times
Click on the link to learn more.
Debt-to-Income Calculators
Calculate your Debt-to-Income and Housing-to-Income with our calculators. Click on the link below and download Debt-to-Income and Housing-to-Income Calculators (there are two versions).
No Required Minimum Distributions in 2009
If the value of your retirement savings account has fallen, and it most likely has, Congress has provided relief for you in 2009. The Worker, Retiree and Employer Recovery Act recently enacted on December 23rd has eliminated the need to take required minimum distributions (RMDs) in 2009. Congress was concerned that without this tax law change, your retirement accounts would be depleted faster than normal because of their recent drop in value.
Radio Show On Mortgage Modifications
Listen to the January 6, 2009 BOSS Brief Show on KNUU in Las Vegas where the topic of the day is renogotiating mortgages. Accountant Emitt Samon joins Steve Pellegrino and Toby Mathis to discuss this very timely topic.
2009 Mileage Rates
IRS Announces 2009 Standard Mileage Rates
The Internal Revenue Service issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
First Time Homebuyers
Tax Credit to Aid First-Time Homebuyers - up to $7500
First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.
***you can be a "First-Time" homebuyer if you have not owned a main home (i.e. you owned rental properties, but not a main residence) for three years***
Last Minute Tax Tips
The end of the year is quickly approaching, and your last chance for tax planning may soon be passing you by. Here we would like to offer a few options that may still be available to you to lower your upcoming tax bill.
Choosing a Record-Keeping System for Your Small Business
As a new small-business owner, it’s one of the first things you need to decide: whether to do your own record keeping or hire someone else to do it. Now, if cash is tight—and when is it not for a new business owner?—you may just not have enough money to hire outside help.
Keeping Business Records
Behind any successful business is a system for maintaining accurate, timely financial information. In this article, we cover what to include in your records.
Helping You Succeed is Our Business
BOSS specializes in entity formation and support throughout the United States. If you are a looking to use the "business-friendly" laws of Nevada, we can help. Our offices are located in Las Vegas and we pride ourselves in helping business owners maximize all legal benefits available to them to increase profits and minimize risks.
Let us do what we do best so you can do what you do best.