Salim Omar, CPA
Salim Omar, author of "Straight Talk About Small Business Success In New Jersey", specializes in providing accounting, bookkeeping and tax services to small business owners and professional practices in NJ. Salim's articles are featured in various national magazines including Accounting Today, The CPA Journal, Chiropractic Economics, Wealth Manager and The Two River Times. You may request a free copy of Salim's new special report titled "How To Drastically Reduce Your Taxes By As Much As 62% This Year Alone And Put Thousands Back In Your Pocket" at http://www.OmarGroupCPA.com
Articles by this Author
The Top 10 Bookkeeping Mistakes Made by Small Businesses
- By Salim Omar, CPA
- Published 10/13/2008
- Business
- Unrated
Keeping accurate records for your business is a crucial task But, many business owners fail to take the necessary steps to ensure that this task is completed properly
Top 10 Small Business Start Up Mistakes
- By Salim Omar, CPA
- Published 10/10/2008
- Business
- Unrated
Millions of people each year start up small businesses around the world And, the vast majority of them will encounter challenges along the way
13 Items to Address When Hiring an Employee
- By Salim Omar, CPA
- Published 10/10/2008
- Business Management
- Unrated
While many companies seek to hire new employees every day, many do not take the proper steps to protect themselves and their businesses Employers need to become familiar with the hiring process, the required documents for their area and any associated taxes required to be withheld or paid by the business or the employee
Donating Cars to Charity - Beware of New Tax Rules
- By Salim Omar, CPA
- Published 09/23/2008
- Finances
- Unrated
It was on June 3, 2005 that the IRS released guidelines on donated vehicles as charitable contributions This came after the American Jobs Creation Act (AJCA) radically changed how much of a deduction taxpayers can claim when they donate a car to a charity
Your Business Plan is Your Roadmap to Success
- By Salim Omar, CPA
- Published 09/23/2008
- Business
- Unrated
It seems like a cliché, but running a business is not unlike running a football team If you think about all the things that a football team needs to be successful at during a game, the playbook is one of the most important items
What Every Small Business Owner Should Know About Record Retention
- By Salim Omar, CPA
- Published 09/23/2008
- Business
- Unrated
If you are like most small business owners, understanding which records to keep and which are okay to throw out with regards to your business records can be challenging Business record retention is important for several reasons including: future business sale, succession planning and for potential tax audits
Retirement Plans For Small Business Owners
- By Salim Omar, CPA
- Published 09/23/2008
- Finances
- Unrated
While every small business owner would like to believe that they will sell their business at retirement, this is in reality not the case for most In fact, a very small majority of small business owner are able to sell their businesses at retirement
Succession Planning - Do You Need It?
- By Salim Omar, CPA
- Published 09/22/2008
- Business Management
- Unrated
One of the most common questions I receive as a small business advisor is how to properly prepare your business for succession Succession planning refers to planning to hand off your business to another party
Bank Charges: You Might be Surprised
- By Salim Omar, CPA
- Published 09/22/2008
- Finances
- Unrated
A lot of people do not request a fee schedule from their bank because they believe that they already know what types of fees the bank can charge to them They know their monthly service charge is, that ATM fees exist at other machines, and they know the amount of the charge if they overdraw their bank account
Credit Scores Are Vital to Your Financial Health
- By Salim Omar, CPA
- Published 09/22/2008
- Finances
- Unrated
A credit score is a number that serves as a guide for lenders when making the decision of whether or not to extend credit out to an individual This simple three digit number that ranges anywhere between the numbers of 300 and 850, the higher number being the better, helps the lender predict how likely a borrower will make payments on time
10 Mistakes to Avoid When Starting a Small Business
- By Salim Omar, CPA
- Published 09/22/2008
- Business
- Unrated
While we all make mistakes, in small business, there are a variety of mistakes that are common Learning from other people's mistakes can enable you to avoid many of them
12 Overlooked Strategies to Boost the Cash Flow of Your Business
- By Salim Omar, CPA
- Published 09/22/2008
- Business
- Unrated
Did you know that you are likely overlooking simple ways to boost the cash flow of your business In any business, and in particular small businesses, cash flow is king
10 Important Financial Tips For 2008
- By Salim Omar, CPA
- Published 09/22/2008
- Finances
- Unrated
What steps have you taken to improve your financial picture for this year When looking to improve your personal financial situation for the year, it is never too late to begin taking action