Sullivan & Company - Certified Public Accountants 4709 Montgomery Lane #201 - Bethesda, MD, 20814 Phone: 301-657-8080



Paul Sullivan, CPA

Sullivan & Company


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April 2010 Articles

Click here to review

Feature Articles

- Spring Cleaning: Tax Records You Can Throw Away

- Beware of Tax Consequences of a Job Loss

- Cash Management Tips for Small Businesses

Tax Tips

- Last Minute Tax Advice

- Claiming the Child Tax Credit

- Are You Eligible for a Tax Credit?

- Tax Incentives for Higher Education

QuickBooks Tips

- Spring Cleaning: Personalize and Tidy Up Your QuickBooks Desktop

Financial Planning Tips

- Review Your Retirement Plans

- Inventory Your Non-Financial Assets

- Review Budget vs Actuals

- Schedule Estimated Tax Payments

- Review Retirement Contributions


4 Cash Management Tips for Small Businesses


Cash is the lifeblood of any small business. Here are some tips to help ensure that your business maintains a sufficient cash flow to meet its financial goals and keep running efficiently:

Toughen up your credit policies - Review the payment terms you offer to customers and tighten them up if slow payment is a problem area for your business. For instance, how long are customers given to pay? What action will be taken if a payment is missed? Be sure your credit terms are communicated effectively to customers before transactions are entered into.

Tip #1: Consider requiring advance payments 'at least in part' for new customers.

Tip #2: For many businesses, a routine credit check should be performed before a sales or service transaction is entered into with a new customer.

Come up with a budget - and stick to it. Surprisingly, many small businesses do not.... (more)

For more cash management tips, click here or go to our Newsletter section on our web site at or call me, Paul Sullivan, at 240-316-3531.



5 Financial Planning Tips for April 2010


Tip #1) Review Your Retirement Plans
How much have you accumulated so far? How much do you need to retire comfortably at the desired date? Professional advice may be helpful in determining how much you should be saving and what the best investment vehicles are.

Tip #2) Schedule Estimated Tax Payments
Add the estimated tax payments for the year to your calendar so you don't overlook them later. You might want to attach the payment vouchers to your calendar with a paperclip... (more)

For more financial planning tips, click here or go to our Newsletter section on our web site at or call me, Paul Sullivan, at 240-316-3531.



Call our offices if you have any questions about these or any other accounting related issues, at 301-657-8080. 


Regards, Paul Sullivan, CPA