The Business Net - Business Coaching - Accounting

Picturing Your Financial World

Identifying your financial assets and their relationships

One way to see your financial world and its many aspects is a “Playing Field Graphic.” This graphic shows all of the “players” in your financial world. “Players” are entities or activities that exist in your financial world. The “Players” tend to be accumulated but not necessarily planned.

Financial World “Playing Field Graphic”, a picture of your financial world

Your Financial World “Playing Field Graphic” is a pictorial representation of all of your financial assets in the form of players (entities and activities that make up your financial situation).

Choosing A Preparer For Your Tax Situation

The choice of a tax preparer is not easy. All preparers are not capable of handling all tax situations. The choice of a qualified tax preparer is very dependent on your financial activities and types of income.

See how to match the preparer with the situation.

If your incomes are Level 1.

Basic tax situation, incomes from employment (W-2’s not 1099-Misc), interest and/or dividends (under $400), unemployment, and taxable pension payments. You could have simple itemized deductions

Your Tax Preparer Options ...

Understanding Risk Management

Risk management covers a wide range of business functions including; business legal entity selection and maintenance, insurable areas, safety management, financial accuracy and theft protection, employee actions, and more

Insurable risks of loss

The fact that your business is a limited liability entity helps manage risk to other assets but does not relieve you from certain legal insurance requirements. The following insurances represent the basic types of insurance required.

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