Blog

You've probably noticed the website looks a bit different--we finally uploaded the full version on Monday. Please check back frequently as we add content, and feel free to send us requests or suggestions of what you'd like to see.

In addition, we have a new assistant on our team. Laura will introduce herself in the next week or so.

We've noticed over the past year or so that multi-level marketing and direct sales companies have really taken off--probably because of the recession and the fact that people are looking for ways to earn extra income. If you are one of these, we wish you the best of luck in your new business! I'm not much of a sales(wo)man myself, and I admire those that are good at it.

I came across a question today on Intuit's forums about how to clean up old open balances, both for vendors and for customers, without messing up the financial statements. This is something I've been meaning to write about for a while, but I haven't gotten around to it until now. So here is at least the first part of Backyard Bookkeeper's guide to cleaning up old mistakes.

This post is a general tax guide for those who don't "get" taxes--a little bit of background information to get you started.

I just wanted to post a few thoughts today about taxes. Modern media has really demonized the IRS, and it's really unfair and counterproductive, because now when people get behind, they are more inclined to run and hide. The fact is that's the worst thing you can do. The best course of action is to be proactive and contact them first. Have you ever called the IRS? They're really very nice. Much nicer, to be honest, than any collection agency. There's even a new link up on the IRS website about what your payment options are if you can't pay your balance in full by the due date.

These days, everyone is talking about how to cut costs: lay off employees, decrease operating expenses, and pay off debts. It's the primary strategy businesses are using to survive the recession, but it has the unfortunate effect of filtering through to all sectors of the economy. For example, as a manufacturer's financial situation worsens, they have to lay off employees. Since the employees have less money, they spend less at the store. The store buys less product from the manufacturer because revenues are down, so the manufacturer continues to lose money and has to cut costs again, i.e.

Newton's third law is as follows: For a force there is always an equal and opposite reaction: or the forces of two bodies on each other are always equal and are directed in opposite directions.