KCP Consulting LLC

10/02/2019

Capital One® Spark® Cash for Business. Earn cash back and increase your EBITDA. When you spend $1,000,000 you earn $20,000, now let says you spend $10,000,000, you earn $200,000. This is a great way to increase your bottom line and its free. The day of paying by checks, ACH, W/T's are over. I forgot to mention the fact that they offer unlimited points.

Sign-up bonus: Earn a one-time $500 cash bonus after you spend $4,500 on purchases within three months from account opening.

Earning rates: Unlimited 2% cash back on all purchases.

Additional perks: Free employee cards; no foreign transaction fees; primary car rental coverage (if your rental is for business purposes); and Visa Signature benefits.

Annual fee: $95 (waived for the first year)

Earning 2% back on every purchase is very solid, and with no fee for employee cards and no foreign transaction fees, this can be a great option for businesses with even a little bit of international travel. Just be sure to crunch the numbers and make sure that you can easily cover the card’s $95 annual fee (see next entry for this calculation). If not, the next card may be of interest.

01/20/2019

Great Video for understanding your taxes

There is a common misunderstanding about how tax brackets work in the US, and it’s causing us to have uninformed debates about taxes. Become a member of the ...

01/02/2019

New professional shots. Let me know what you guys think?

11/05/2018

Deal-Making 101

“More than 50 years ago, Charlie told me that it was far better to buy a wonderful business at a fair price than to buy a fair business at a wonderful price.” -Warren Buffett I’ve had the opportunity to negotiate some significant transactions. I’ve bought companies, organized partnerships, a...

11/05/2018

Investment Quote - Food for thought

“More than 50 years ago, Charlie told me that it was far better to buy a wonderful business at a fair price than to buy a fair business at a wonderful price.” - Warren

11/30/2017

In order to take flight and become ultra-successful, you need to assess your extra baggage.

10/25/2017

http://usblogs.pwc.com/deals/the-new-corporate-ma-environment-uncertain-unfazed-and-uncharted/

10/24/2017

How do i change my Corporations address with New York State?

There are two ways to do it:

Number 1: Filing your Biennial Statement online. The fee is $9. This works if you have not filed or updated your records in the last 2 years. https://www.dos.ny.gov/corps/ebiennial5-1.html

Number 2: If you opened a corporation within the last year or have submitted updated documentation to NYS and have not waited the 2 year qualifying period to file your Biennial statement online, file Form 1359. The fee is $30.

Beginning May 1, 2012, most business corporations and limited liability companies (LLCs) may file their Biennial Statement online and pay the $9 fee using a credit card or debit card. The Biennial Statement form, which will be mailed to the address of the corporation or LLC, will provide the necessa...

08/09/2017

Here are some good notes about your personal credit score.

Won’t I get penalized if I open too many accounts?

It’s going to be just fine.

If you borrow money or apply for a loan, information about your credit history is recorded. Big credit bureaus like Equifax compile that data and then translate it into a score. Here are the different components of your credit score, in order of importance.

Payment History – 35%
The most important piece of your credit score is your payment history. Pay your bills on time because missing a single payment by even a few days can affect your score negatively.

Amounts Owed (Credit Utilization) – 30%
The next important piece is amounts owed, or how much debt you have. Most people would assume that the amount of debt you carry is the most important constituent of your credit score, but it’s a close second. If you’re maxing out your credit cards, that hurts your score.

Length of Credit History – 15%
Somewhat counter-intuitively, lack of a history can hurt your score. Even if you are against credit cards for whatever reason, it might be a good idea to have one that you maintain just so you don’t run into difficulties down the line.

Types of credit used – 10%
This part of the credit score looks at your overall mix of credit usage (credit cards, mortgages, etc.). Showing that you can handle a variety of credit responsibly is a good thing.

New Credit – 10%
This part of the credit score looks at how many new accounts you have opened, and it’s worth 10% of the overall pie.

So, to answer the question. Opening new cards can impact your score but not by much — only if you open a lot of accounts in a short amount of time. New accounts affect your score because they lower your average account age. Given that new credit only accounts for 10% of the overall score, it’s probably not going to be the thing that makes or breaks your credit score. Your payment history and credit utilization are far more important. Furthermore, opening a new account can help your credit utilization ratio by lowering your ratio of credit used to credit available.

Let me repeat: good debt repayment habits are far more important to your credit score than simply opening or closing accounts.

05/25/2017

The reason you should work with a certified QBO Pro-advisor. By 2020, 78% of small business will move to the cloud.
KCP Consulting holds the following certification:
QBO Online certification
QBO Merchant accounts
QBO Payroll
QBO Desktop Products
We can help you become more profitable starting by automating your processes.

Who doesn't want to save time? Here are 5 ways to do that using QuickBooks Online automation features.

04/10/2017

Great article about viewing the glass as half empty.

Chronically viewing the glass as half-empty inhibits one’s ability to bounce back from life’s inevitable stresses.

06/07/2016

Team-viewer hacking issues. I am very disappointed by the news and encourage all businesses to disable Team-viewer until these issues are solved by Team-viewer.

Service blames password reuse for attacks used to drain financial accounts.