Heading into the fourth quarter, many small business owners have two things in mind: The first is the holiday season, when (particularly with retailers) a large part of annual revenues are often recorded. The other (and perhaps less exciting) topic is taxes. In their quest to boost revenues and eke out profits, entrepreneurs often overlook important tax matters that could end up costing their venture real money.
Bill Hampton, general partner and Robbie Hampton, managing partner at Bishop, Hampton & Associates, LLC, a Stockbridge, Georgia-based certified public accounting and business consulting firm, say many entrepreneurs donâ€™t regularly look over the company financials. As a result, theyâ€™re unaware of the true financial health of the business.
The duo offers the following advice:---Alan Hughes