January 2011
DOLLAR$&$en$e
by Devon Weaver, Keeping Tabs Accounting
Just As Valuable As Your Personal Credit
Phone: 260-463-4901 • Fax 888-439-6528 • The Hometown Treasure
As a small business owner
there are few things more
valuable than your personal
credit score. A good personal
credit score gives you the ability to obtain credit and
loans for your company, and makes it easier to obtain
the vendor relationships that are essential to operating
your business, such as with utility and leasing companies.
Of course, if you focus on building your business
Tax Corner · Tax Corner · Tax Corner · Tax Corner
Expanded Adoption Credit
The Internal Revenue Service issued guidance on
the expanded adoption credit included in the Affordable
Care Act.
The Affordable Care Act raises the maximum adoption
credit to $13,170 per child, up from $12,150 in 2009. It
also makes the credit refundable, meaning that eligible
taxpayers can get it even if they owe no tax for that year.
In general, the credit is based on the reasonable and
necessary expenses related to a legal adoption, including
adoption fees, court costs, attorney’s fees and travel
expenses. Income limits and other special rules apply.
credit you can leverage two credit scores and profiles
at the same time. A business credit report and score
are just as, if not more, valuable to a small business
owner than their personal credit score.
Another valuable asset is your network. Whom
do you know? The more you network and have the
opportunity to meet others the more you build your
sphere of influence. Your friends and acquaintances
have the ability to connect you with potential investors,
bankers, clients, vendors, and future employees. Don’t
neglect your networking opportunities. Attend as many
seminars, events, and get-togethers as possible.
The final asset as valuable as your personal credit
score is the relationship you have with your banker. In
the last 10-20 years banks moved to a computer-driven
model that took the decision process for approving
loans and credit for businesses away from the bankers.
In the last couple of years more and more banks have
added relationship bankers in an effort to rebuild
relationships with the small business owner. Take
advantage of this relationship as much as possible.
Consider taking your local banker to lunch. (Of course,
it’s best to make sure your lender is small businessfriendly before you waste $30 buying a banker lunch,
only to find out that they can’t help you.)
Fully State Inspected Custom Butchering
& Processing of Livestock
$30 Butchering • $ .35/lb. processing
Call ahead for earliest dates available.
409 South Railroad Street
LaGrange, Indiana 46761
(260) 499-3400
Mon.-Fri. 8 am-5 pm; Sat. 8 am-12 noon
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $
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CA$H!
$ Quick Sale - Fair Price $
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260-768-3100
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I Buy Houses
Emma Warehouse
M-F 8-5, Sat 8-1 • 5995 W. 200 S. 260-593-2769
Building Supplies, Cabinets, Hardware & More!
* Doors * Floor Covering * Gifts/Cards * Furnaces
* Screws/Nails * Stoves * Trim * Tubs/Showers
* Water Heaters * Windows
We have 4x8 sheets of underlayment in stock!