About Mike Kappel

Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers accounting advice from more than 20 years of experience to small business owners.

Author Archive | Mike Kappel

How Electronic Funds Transfer (EFT) Can Help Your Business

Today’s harried business owners can save time and money by taking advantage of an EFT (Electronic Funds Transfer)process, which is available at financial institutions. Using EFT for banking can reduce the time and money spent paying expenses or receiving income. Within hours instead of days, a much-needed payment can be made to meet bill payment […]

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How to Raise Money: Get Our Free Whitepaper

Small business owners have one thing in common: an entrepreneurial spirit. You started your business because you believed in your product and knew you could sell it. But businesses need money to grow, and that’s in short supply these days. We will show you how to raise money. It’s a conundrum: you can’t grow your business without […]

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IRS Rules Will Weed Out “Ghost” Tax Preparers

How much do you know about the person preparing your personal or payroll taxes, and how do you know they’re qualified? The Internal Revenue Service recently contacted 100,000 tax return preparers who didn’t follow the new IRS registration requirements effective January 2011. Preparers must now sign tax returns they prepare and include their Preparer Tax […]

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Ohio’s Estate Tax Repeal Offers Boost to Small Business Payroll

Dying in Ohio won’t be quite as costly for small business owners now that the state’s estate tax — also known as the “death tax” — has been put down by Gov. John Kasich. Maine and Oregon are also making changes to their estate taxes. Gov. Kasich’s move, signed into law July 1, helps the […]

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Don’t Be Fooled by Bogus Email, IRS Warns

Don’t fall for the latest scam email claiming to be from the Internal Revenue Service, the IRS is warning on its website. A new scam email is circulating the Internet regarding electronic federal tax payments or the Electronic Federal Tax Payment System (EFTPS). The “phishing” email informs recipients that their federal tax payments made through […]

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IRS Explains New Healthcare Tax Credit for Small Businesses

The recently passed Health Care Reform Act included a “Credit for Small Business Employee Health Coverage Expenses.” This credit falls under one of the subtitles in the Act that will go into effect immediately. For tax years beginning in 2010, eligible small businesses may be able to claim an income tax credit for expenditures for […]

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One Thing That Can Trigger an IRS Audit for Your Company

The Internal Revenue Service estimates it has lost $34.7 billion in unpaid taxes because contractors have been misclassified as 1099 independent contractors (IC) instead of W-2 employees.  In one year, the Government Accountability Office estimated that misclassification cost the federal government $4.7 billion in income taxes.  Worker misclassification is one of the major IRS audit red […]

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