Business Management
by Betsy Dyer

When it comes to being a successful business owner, there is no exact science. In fact, if you were to get an experts opinion on this topic, you will find that there are hundreds of advice columns and articles which explain how to be successful. Over the years Abacus CPAs has worked with many successful business owners and we too have noticed that they each have different perspectives. 

The first rule of thumb to being successful is to know where you are at currently, which is also known as your current state. Whether your current state is good or bad, it is important to acknowledge where your business is at today. To help identify the current state of your company, ask yourself, is my business profitable? Is my business failing? The answers to these questions will help you move forward. 

Step two in being successful is to envision what your business would look like when it is successful (whether that be now or in the future). It's important to note however that success doesn't always mean more profit. In fact, some clients we have worked with say their idea of success is [1] to own a new truck that they can be proud of, and [2] to have the ability to travel on their own. However, another client may say that the definition of success for them is to make a large profit as soon as possible so they can retire early. 

Abacus CPAs is dedicated to find out what success means to you, so we can assist you in helping meet your goals. Contact our office at 417.823.7171 so we can provide you better guidance, so that you can make smarter decisions. 

by Shawn Koder
REMEMBER: The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. In addition, the IRS does not threaten taxpayers with lawsuits, imprisonment or other enforcement action. Recognizing these telltale signs of a phishing or tax scam could save you from becoming a victim.

Recommendations for taxpayers:
  • Learn to recognize phishing emails, calls or texts that pose as banks, credit card companies, tax software providers or even the IRS. They generally urge you to give up sensitive data such as passwords, Social Security numbers and bank or credit card accounts.
  • If you receive suspicious emails forward them to Remember: never open an attachment or link from an unknown or suspicious source.
For more information see: IRS-2017-64

The IRS will NEVER:
  • Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes.
  • Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying.
  • Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.
  • Ask for credit or debit card numbers over the phone.
Remember: Scammers Change Tactics -- Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but variations of the IRS impersonation scam continue year-round and they tend to peak when scammers find prime opportunities to strike.

Services Include

Tax Return Preparation
Quarterly Estimates
Strategic Growth Plans
Debt Structuring
LLC Formation
Registered Agent Services
Tax Problem-Resolution
Business Consulting
Audit Assurance
Financial Statements

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5 years!
Lawrence Brough
Frank Buck Sr.
Brian Bush
Berren Clark
Roger Coleman Fr.
Aubrey De Cunha
Richard Fuentes
Samuel Lovell
Barton Mathis
Ronald Mullins
Rose Powell
Christopher Showman
Glen Smith Jr.
Melverton Smith
Marvin Wooten

10 years!
Kendall Kenderman
Frank Leon
Michael Sparks

On The Road Recipes!
Honey-Garlic Slow Cooker Chicken Thighs

4 skinless, boneless chicken thighs
1/2 cup soy sauce
1/2 cup ketchup
1/3 cup honey
3 cloves garlic, minced
1 teaspoon dried basil
Lay chicken thighs into the bottom of a 4-quart slow cooker.  Whisk s oy sauce, ketchup, honey, garlic, and basil together in a bowl; pour over the chicken. Cook on low for 6 hours.