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    The Little Big Small Business Book
    The Little Big Small Business Book
    The Little Big Small Business Book
    Ebook86 pages52 minutes

    The Little Big Small Business Book

    By Micah Fraim

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    About this ebook

    How do you plan to grow your business this year?

    Inside of The Little BIG Small Business Book, you’ll discover 17 money making (or saving) lessons that will leave you with more customers, sales, and money in your pocket come tax season.

    CPA Micah Fraim offers a unique and truly rare perspective on succeeding and growing your small business while maximizing financial savings and gains using tax tactics and tips.

    Take advantage of this gift today, and please leave your review below after you begin seeing your desired results!

    LanguageEnglish
    PublisherMicah Fraim
    Release dateJun 10, 2015
    ISBN9781310726866
    The Little Big Small Business Book
    Author

    Micah Fraim

    Roanoke CPA specializing in business advisory services

    Read more from Micah Fraim

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    • 5/5
      Thanks for taking the time to write this book. I enjoyed it.
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      Great book full of invaluable information to all small business owners!

    Book preview

    The Little Big Small Business Book - Micah Fraim

    The Little Big Small Business Book

    Micah Fraim

    Copyright © 2015 by Micah Fraim

    All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.

    This book is presented solely for educational and entertainment purposes. Although the author and has made every effort to ensure that the information in this book was correct at press time, the author does not assume and hereby disclaim any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from negligence, accident, or any other cause.

    Smashwords Edition

    Contents

    Introduction – How to Avoid Troublesome Kelp

    Section 1: Accounting, Tax, & Finance

    Chapter 1: To C or not to C? What Type of Corporation Should I Choose For My Business?

    C-Corp

    LLC

    S-Corp

    Chapter 2: The Danger of an S-Corp Bonus

    Chapter 3: Cash Flow Management / What If I Forget the Books?

    Chapter 4: Has Your Business Borrowed Too Much? How to Measure and Manage Your Business Debt for Better Cash Flow

    1. Do the Math

    2. When You Have No Cash

    3. Get Advice

    Chapter 5: In All Things Balance

    Captain Penny Pincher

    Excessive Spending Man

    In All Things Balance

    Chapter 6: The True Cost of the Home Office Deduction

    Increase of Audit Risk

    Most of the Expenses are Deductible Elsewhere

    High Chance of the Deduction Being Disallowed

    Increasing Taxable Income in the Future

    Chapter 7: Independent Contractor vs. Employee

    The Difficulty in Finding a Definition

    Most Important Factors

    Conclusion

    Chapter 8: Inventory Timing and How It Can Affect Your Taxes

    Year End Inventory and Cost of Goods Sold

    Chapter 9: Accrual Basis vs. Cash Basis Accounting

    Cash Basis Accounting

    Accrual Basis Accounting

    Section 2: Marketing & Branding

    Chapter 10: Branding and Perception: The Mademoiselle Noir Effect

    Chapter 11: The Market Will Not Bear Generalists

    Specific

    Focused

    Chapter 12: Do Not Become Overly Specific

    Chapter 13: The Empty Box Phenomenon

    Overselling

    Underperforming

    Conclusion

    Chapter 14: Promises, Promises – Be Careful How You Charge Your Clients

    Chapter 15: Effective Networking: Revere vs. Dawes

    Section 3: Valuable Miscellany

    Chapter 16: Me, Myself, and I: The Self-Employed Perspective

    Chapter 17: No need to worry, my accountant handles that – The Notorious B.I.G

    Caution & Concluding Thoughts

    Introduction – How to Avoid Troublesome Kelp

    "Sometimes I have a difficulty talking to people who don’t race sailboats." – Bruno Gianelli

    That was one of my favorite lines from The West Wing, a show where the dialogue was so good and the characters so unbelievably quick-witted that it made you feel like an idiot. In the scene, President Bartlet was upset that campaign advisor Bruno Gianelli was polling about something the President considered to be irrelevant. With Barlet understandably confused at the above statement, Bruno explained:

    "I have difficulty sometimes talking to people who don’t race sailboats. When I was a teenager, I crewed Larchmont to Nassau on a 58-foot sloop called Cantice. There was a little piece of kelp that was stuck to the hull, and even though it was little, you don’t want anything stuck to the hull. So, I take a boat hook on a pole and I stick it in the water and I try to get the kelp off, when seven guys start screaming at me, right? ‘Cause now the pole is causing more drag than the kelp was. See, what you gotta do is you gotta drop it in and let the water lift it out in a windmill motion. Drop it in, and let the water take it by the kelp and lift it out. In, and out. In, and out, till you got it. […] If you think that I’m going to miss even one opportunity to pick up half-a-mile boat speed, you’re absolutely out of your mind. When it costs us nothing, when we give up nothing! You’re out of your mind."

    The purpose of this book is just that – to help you identify potential kelp in your business and remove it. Through my years of advisory work as a CPA I’ve

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