Hi. My name is Terry, and I'm the President of Quicksilver Accounting & Consulting,  Wilmington NC.

I created this blog to offer little hints, ideas, strategies and sometimes just silly excerpts from life to help other entrepreneurs gain insight.

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Written in Wilmington, NC


It's official... Sitting Disease

I ran across an interesting article in Bloomberg Business Week that just confirms what I knew- that sitting in a chair at the office for hours on end was not healthy.  What accountant can't relate to this?  Now there is an official name for it;  Sitting Disease. Office workers unite-  get out of your chair every hour- go chat to your co-worker, or take a short stroll down the hall, get up and move!   Read more...


Could this happen in your state too?

Lately states are looking in all directions for revenue because they have lost so many Federal dollars. I read an article from Bloomberg Businessweek  (February 19 edition) about a program in Italy that they have been using to increase tax dollars. Could it be long before you see it here as well?

It seems Italy's police have been stopping people who have very high end cars.  They aren't really concerned if they had a traffic violation- no- what they want is your registration with name and address.  They feed this back to the government to find out if the owners have declared enough income to justify their lifestyle and its been reaping rewards.  What next?  Hope they don't check out my Rolex- it was a gift!

Now you know, there are some pretty nice cars traveling our byways...

so I'm just saying its possible here as well..  



I was quite amazed when reading an article today in Bloomberg Businessweek that $17.6 billion is expected to be spent on Valentines Day this year.  Yesterday I heard a quote that the average $ per person breaks out to $119.  My husband thought that was high, but I reminded him that many get engaged on this day- so the diamonds are pushing us all up the totem pole.  

I have been truly blessed to have loved ones who care enough about me to send me beautiful flowers, cards, chocolates and dinner last night (before the crowds).

There are many small businesses that depend on these type of events to bring a large portion of their yearly income- and for those companies who work so hard to bring us this happiness, I truly commend them and hope that their take of the $17.6 billion is everything they need to continue.  It's been hard for some of these smaller companies in the last few years- so think local when you are purchasing candy for your love one, please use the local florist, spa's, restaurants, etc.   They need our business.



New IRS mileage rate

The new mileage rate has been published for 2012 by the IRS .  The amount will be 55.5 starting January 1.    If you use QuickBooks, why not track your expenses for mileage this year in the program? Here is how:

First, set up a 'dummy' customer called "Terrys Mileage" (insert your name) for yourself unless you will be  job costing per client.

Go to the Company file and open the 'Enter Vehicle Mileage' window. Open the Mileage rates window at the top, enter 0101/2012 and put in the new rate.  Your all set now.

When you drive, keep your records and come back to QuickBooks either every week, or once a month.

Open the Enter Vehicle Mileage, enter your vehicle (add new will show the first time) and continue with the form.  You don't have to put in the odometer reading if you would rather not- you can put in the dates and the total miles driven and then tie it to "Terrys Mileage" for the customer (unless of course you really would like to enter per client... Add any notes and click Save and Close.

When you are ready to run your report, go to the Report Center under Jobs, Time and Mileage and run your report for Mileage Summary or Detail,etc.  for the dates you would like.   It will tally all your entries per vehicle for you there. This is a great tool for year end tax - no more having to add up columns trying to figure out what you did all year! 



On our way to The Sleeter Group Conference

There is just something great about going off to a trade conference.  First, you know there are like minded individuals there looking to find the same thing you are on a search for.  Vendors are lining up to give you free stuff and tell you how great your lives are going to be if you purchase their products. Peers want to discuss the nitty gritty of your profession in hopes we can all improve. The hotel we are at this year is brand new- so I'm looking forward to a comfy bed and a bit of luxury. Viva Las Vegas.... here I come. Did I mention the shopping, that we are going to see "Love" by Cirque de Soleil while there and play a little routlette as well?

Kidding aside, conferences are hard work, long hours, long plane trips and lots of listening. I love the atmosphere and look forward to coming back with new ideas for my clients, and readers as well.  If you are looking for a solution- send me a note and I will look for you.   In particular, I'm looking for a good bar code reader so I will be dropping in to WASP, and I want to meet the principles of our portal company, Cloud9 as well. Also checking into Xero- I think that might be the new 'real deal'.