It is no surprise that many pond professionals fail to understand the tax ramifications of disposing of business property. Under our current rules, which are often confusing and complex, there are numerous ways to dispose of business assets: selling them,More…
When it comes to business, little things do mean a lot. You are not the same company you were last year, or even a month ago, and things will definitely be different this time next year. As time goes on,More…
Here at Modern Design Aquascaping, we have won many awards and have been recognized as one of the best pond builders in the country. I don’t say this to toot my own horn; I say it because I am proofMore…
All trades, including pond-building, have one thing in common: 90 percent or more of all owners used to be a tech working for someone else. One day in the field, a little light bulb goes off and says, “Gee, theMore…
Accounting is a necessary evil for all business owners. Unless you can afford to hire someone —“ and don’t get me started on where that can go wrong —“ you need to know how to at least do the basics.More…
It’s a basic principle: Cash flows into your pond business when you sell a job. Cash flows out when you pay the costs of the job and your overhead expenses. If you sell jobs for less than what it costsMore…
Thanks to the Supreme Court’s late-June decision in King v. Burwell, many garden pond professionals will escape at least some of the sharply escalating costs of the Affordable Care Act (ACA). That Court decision should, however, be a wake-up callMore…
Do you understand the nuances of capital purchases? Are you using these nuances to your advantage? If not, you may be making critical mistakes that cost you money each time your company buys equipment. In this must-read, in-depth article, MarkMore…
Natural disasters and on-site accidents can destroy companies overnight. Is your pond business protected against unexpected loss? No matter the size or value of your business, insurance is an essential precaution you can’t afford to be without.
Quickly learn about the different business entities that are available to the businesses in the pond industry. You have heard them before – Sole Proprietor, Partnership, LLC, and Corporation. There are tax benefits/detriments to each of them. What will fitMore…
