TAX TIME
THINGS TO DO
Sites to See Tax Tips: Pay and plan your taxes smartly
Nolo.com’s Taxes Center
nolo.com/legal-encyclopedia/taxes
All you need to know about filing business tax returns, reducing tax bills and avoiding or preparing for an audit.
Toolkit.com’s ‘Controlling Your
Taxes’ Section
toolkit.com/small_business_guide
Click on the link and it opens to a wealth of information and advice on tax obligations from payroll to federal.
Numbers to Crunch
Events to Check Out
TIA International Wireless
2012 May 7-10, Ernest N. Morial Con- vention Center, New Orleans, La.
www.ctiawireless.com
AM Merchandising Spring
Dealer Show May 16-17, Oakland, Calif. Contact: 510/653-7134
www.ammerchandising.com
Arrowhead Sales & Mar-
keting Omaha Extreme May 19-20, Digz Volleyball Center, Omaha, Neb.
Contact: 402/393-2100
omahaextremecarshow.com
Vendor Relationships: WhatYou Should Be Doing:
■ Be prepared for tax refund sales as early as February due to the speed of electronic tax return filing.
■ All your car detailing and accessories vendors should be offering incentives at this time as the weather begins to turn favorable and customers think about vehicle clean-up and upgrading. For this reason, be ready to pres- ent a promotional and merchandising plan to vendors showing interest.
■ Additionally, be already in summer promotion- al planning mode, and approach all vendors to confirm their promotional support pro- grams. Marine promotions need to include satellite radio, so be sure to confirm tuner availability and any consumer rebate activity that is planned.
Apps to Download
Tripper A tracking system that records mileage expenses for employee reimbursement, with customiz- able categories for clients and
Stuff to Read
Breaking the Tax Code 2nd Edition
By the World’s Elite Tax Ex- perts ritten by The Celebrity Experts®, this book prom- ises to “de-mystify” the tax code using tactics from numerous experts, all with
the goal of legally limiting your tax liability.
Worth Every Penny: Build a Business That Thrills Your Customers and Still Charge What You’re Worth
By Erin Verbeck and Sarah Petty Don’t cut prices to
compete with big boxes; grow your cus- tomer base focused on high-end service and loyalty.
billing codes, a live GPS mileage tracking option and odometer. $4.99
Quickbooks Mobile An on-the-go accounting applica-
tion that allows you to create and email invoices, view bank account and credit balances and
access vendor, customer and employee lists. You can add and edit customers,
vendors and employees as well.
38 Mobile Electronics Survival Guide 2012
www.me-mag.com 39
Inventory Turn Rates Why it’s important: you need to make sure your stock is making you money, not costing you money sitting on the shelf.
Determining Average Inventory Level: Last 12 months combined ending inventory / 12
$300,000/12 = $25,000 Average Inventory
Inventory Turn Rate: Cost of Goods Sold (for one year) / Average Inventory $183,000 / $25,000 = 7.32 Inventory Turns per Year
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