Pinnacle Executive Suites

Pinnacle Executive Suites
Executive Suites/Virtual Suites

Friday, May 15, 2015

Trading Products or Services

Contributed by Elite Bookkeeping & Tax Services

Trading one product or service for another has become increasingly popular in recent years. If you barter, you should know that the value of products or services from bartering is taxable income. This is true even if you are not in business.

Here are some things you should know about bartering per the IRS:

·        Bartering income. Both parties must report the fair market value of the product or service they get as income on their tax return.

·        Barter exchanges. A barter exchange is an organized marketplace where members barter products or services. Some operate out of an office and others over the internet. All barter exchanges are required to issue Form 1099-B, Proceeds from Broker and Barter Exchange Transactions. Exchanges must give a copy of the form to its members who barter each year. They must also file a copy with the IRS.

·        Trade Dollars. Exchanges trade barter or trade dollars as their unit of exchange in most cases. Barter and trade dollars are the same as U.S. currency for tax purposes. If you earn trade and barter dollars, you must report the amount you earn on your tax return.

·        Tax implications. Bartering is taxable in the year it occurs. The tax rules may vary based on the type of bartering that takes place. Barterers may owe income taxes, self-employment taxes, employment taxes or excise taxes on their bartering income.

·        Reporting rules. How you report bartering on a tax return varies. If you are in a trade or business, you normally report it on Form 1040, Schedule C, Profit or Loss from Business. 

For more information, contact Elite Bookkeeping & Tax Services at (800) 416-3820 or (775) 884-6188 Address: 123 West Nye Lane, Suite 103, Carson City, NV 89706. Visit our website at www.elitebookkeeping.biz

Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/

Wednesday, July 16, 2014

A Lawyer's Observation

Contributed by Patrick O. King, Esq.

Many people talk about their dream of owning their own business. They want to sell cookies or cupcakes or start a catering business. Maybe they want to start a construction company or a lawn mowing business. But like anything else a fear of the unknown holds them back. So instead they stay at a job they don't really like or worse yet, they stay at home bored and do nothing.

I must admit I love the entrepreneur spirit. Those people- men, women and children who start a small business- are what keep this country strong and give the rest of us more options for a good life.

If you have never opened a business, I guess it could sound scary or maybe even overwhelming. Plus there seems to be an endless number of friends, co-workers and jealous family members that want to tell you all the reasons you will fail. Instead of offering encouragement and support they tell you about someone who failed in exactly what you are thinking of doing and point out that you have inadequate experience and not enough money. Then if you have the strength to continue thinking about your dream, the apparent obstacles hit, such as:

I don't know how to start a business. Do I need a license? If I do, I don't know how to get one. Where should I open the business? Can I work from home? What kind of business do I form- Corporation or LLC? How do I get a Tax ID Number and what is is for? Do I need insurance? Where do I open a business bank account? How do I get a fictitious name registered? How do I protect my ideas? How do I keep my books and records? How do I get clients or customers? How do I deal with the city, county or state officials? Just thinking of this stuff makes most people give up before crossing the starting line. Not having all the answers is not a problem.

Here is what I know. Your business can be up and running smoothly before you know it. Imagine having your business cards printed with your new office address, phone and fax number, website and e-mail address. You can accept cash, checks, credit cards and debit cards. You have formed a Corporation and you have a corporate checking account. If you need to hire help, you have your payroll service standing by to assist you.

All of this can be done in only a few days. All these things that seemed daunting turn out to be minor issues as you build your dream.

If there is anything I may assist you with, call my office at (775) 884-0866. Visit my web site at http://www.patrickokingltd.com.

Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/

Friday, April 11, 2014

Building Business Credit- 6 Reasons Why It's Important


1. Adds to the separation of you from your business. You're not it and it's not you.

2. It helps to limit your personal liability. The more your business credit increases, the better chance it has of obtaining financing without involving your personal credit.

3. It helps to preserve your cash with added flexibility for credit lines, extended payment terms, etc.

4. It helps to safeguard your individual FICO® scores and individual credit reports.

5. It can help maximize additional funding opportunities for your business both in types and credit capacity many times that of your personal credit.

6. Good business credit is a valuable asset for attracting potential investors and partners.

Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/

Thursday, March 13, 2014

Documenting Your Business Activities

Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Read this helpful post that give some samples of business activities you should be documenting.

http://www.americancorpenterprises.com/documenting-your-business-activities/

Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/

Wednesday, November 6, 2013

An Introduction to the SBA



Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/

Tuesday, September 24, 2013

New Rule Regarding Solicitation of Investors

Here's yet another implementation of the JOBS Act that was passed by Congress in 2012. Read this important post regarding changes to a rule regarding solicitation of investors. This went into effect September 23, 2013.

American Corporate Enterprises, Inc.'s Blog: New Rule Regarding Solicitation of Investors: Yesterday the Nevada Secretary of State posted a media release regarding new regulations that went into effect regarding public solicitation...

Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/

Wednesday, March 6, 2013

Avoid Costly Hiring Mistakes


Contributed by Melissa Marsh of HRinDemand, LLC

A bad hire can cost big bucks. Careerbuilder conducted a survey in August/September 2012 in which respondents estimated that bad hiring cost their organization between $25,000 and $50,000 in 2012. In many cases, it was reported, that bad hiring was related to the pressure of filling jobs too quickly and lack of thorough information gathering about the candidate before hire. Take the time to be thorough and do research.

Most importantly, take the time to interview an applicant thoroughly. One way to do this is with behaviorally based questions; avoid the off-the-cuff interview where you chat with the applicant because too often this leads to unreliable surface information. Behaviorally based questions are a great tool because past behavior is the best predictor of future behavior. The trick with behaviorally based interview questions is leading the applicant to answer the right way. Often, applicants want to give general, non-specific answers so the interviewer needs to probe and direct the applicant to answer with specific examples of past behaviors. Conducting a lengthy and thorough interview is well worth the time. It is amazing what applicants will say in an interview given the time to divulge!

Asking an applicant back for a second interview can uncover information about their willingness to put time into the process and their interest level in the job. Often, an applicant will waiver when asked back for another interview if he or she isn’t truly interested in the job. With the economy as it is, applicants are looking for any job and if someone takes a job because they need it but doesn’t really want it, that employee will not last long.

Having an interview with more than one manager is also a way to measure how well the applicant will interact with different types of people. This may seem overly time consuming and take away from a manager’s time to be productive, but it will “pay” in the end when the decision to hire is made with as much information with as many employees involved as possible. To this point, let at least one person from your staff meet with the applicant, you will be shocked at what applicants will say to “peers.” Also, get feedback from those employees who have greeted the applicant such as your receptionist. Make every second count that the applicant spends at your location!

Once you have decided after the interview process that you have met an applicant you would like to hire, take time to do more research. Ordering a background check is a great rule of thumb and helps you determine if the applicant has told the truth on their application. Checking references is also worth considering although keep in mind that applicants pick references who will say only good things about them. Often, it’s worth the time to call past employers. Past employers may not answer specific questions but if you ask the right way, you can uncover information you would not have gotten if you never called them in the first place. Consider asking people you know about an applicant if there is a connection between them. Often we know someone at a company where the applicant worked previously. There is nothing wrong with picking up the phone and asking some questions as long as you are avoiding illegal discrimination in hiring.

The more you know about an applicant before you hire, the more likely this person will be the right hire and work for you for years producing valuable, necessary work product. Here is a story that exemplifies the expense of a poor hire: someone recommended a friend be hired and she had the experience. Since a manager knew her, it wasn’t necessary to have her interview with anyone else. Around month four of her employment, she became “unruly” and made disrespectful, rude comments to one of the managers she supported. This continued until she needed a written warning. This did not help the situation; it seemed to make her more angry. Come to find out, she didn’t want to live here and was resentful that she did. This affected her work and her mood and she was lashing out at people because of it. If there had been a more thorough interview process, this information would have been uncovered and hiring her could have been avoided. She quit within six months citing relocation as her reason. All the time, money and resources spent in training her went out the window and the company had to start from scratch but this time, the interview process would be more thorough even though it would take time to find the replacement.

By spending time up front during the hiring process, your company can save considerable amounts of money in the months and years ahead. Let’s recall the survey by Careerbuilder where employers estimate a bad hire costs their organizations between $25,000 and $50,000. Take the time to hire right.

Melissa Marsh, HR Consultant and Founder of HRinDemand, is a proven HR professional with over 15 years experience in the field who works with businesses to streamline and improve human resources processes, policies and procedures. For assistance with employee related issues, contact HRinDemand directly at (775) 400-1322. Visit their web site at www.HRinDemand.com

Pinnacle Executive Suites - located in Carson City, NV: Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at http://www.pinnacleexecutivesuites.com/