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Is your start-up money tight? Most businesses are in the same boat. But it’s essential to have accurate numbers at your fingertips to stay in business. Remember, the top reason most companies go under in their first five years is lack of cash flow, and most fall into that trap for one reason – bad financial information and feedback. Scott Letourneau created a “step-by step” system to help keep the IRS off business owners back and make sure they run their business like a business, not a hobby.

Lead and Body

Las Vegas, NV (December 2008) – Scott Letourneau, CEO of Nevada Corporate Planners, Inc. launched his annual tax and bookkeeping program. Most people enjoy a hobby --- golf, tennis, cooking --- and while they’ll spend money on those activities, they’re not a business. Yet when most people join a business opportunity or start a business, though they don’t consider it a hobby, that’s often actually what they create because they don’t know the rules of the game.

But they have a problem: The IRS is getting much tougher on this subject. The number one reason the IRS goes after business owners is the failure to use proper analytical records. Business owners should be well advised to use software like QuickBooks® to determine how business is really operating --- to update gross revenue, cost of goods sold, and income.

“The biggest mistake we see new business owners make is using their online bank balance as their only business financial barometer,” said Letourneau. “First, that’s the wrong way to make financial decisions. Second, it sends the IRS a very clear message: you are not serious about your business.” Added Letourneau.

“This single mistake may cause the IRS to consider your business as a hobby. If they do, you cannot write off your hobby’s losses against your earned income --- and that kills one of the biggest reasons to start a business in the first place,” said Letoureau.

Following are what business owners received with the Annual Tax and Bookkeeping Business Success System: Quickbooks® Pro in the mail to set up on a computer system. Nevada Corporate Planners’ CPA firm who will contact business owners to make an appointment for a personal consultation to set up a Chart of Accounts on QuickBooks. They’ll help set everything up correctly from the get-go, which will help avoid costly mistakes. Included were also two powerful Fast Start Teleseminars.

Scott Letourneau is an international expert when it comes to helping business owners get off to a fast start to profitability. He has helped over 5,500 business owners incorporate and develop the resources to obtain capital. His Top 5% Club is designed to help entrepreneurs be in that top 5% that are still in business, successful and profitable after 5 years.

About Nevada Corporate Planners, Inc.

Over 13 years ago, Scott Letourneau founded Nevada Corporate Planners, Inc. (www.nvinc.com) and 7 years ago founded Fast Business Credit, Inc. (www.fastbusinesscredit.com). He is also a busy lecturer, consultant and author. He is recognized nationally and internationally as a leading expert in helping business owners incorporate their business and get off to a fast start. He is a contributing author to Start Your Own Information Marketing Business by Entrepreneur Magazine.


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