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Have a book in your head? Get it out!

April 6, 2011 By

I took some information that was in my head and wrote an ebook about it. It’s so much easier than you think!

From Idea to Information Product to Profitable and Very Successful Business.

It only takes 4 short weeks to create your own information product…

If you have an idea, then you can go From Idea to Information Product to Profitable and Very Successful Business in only 4 short weeks! Yes, YOU! Even if you do not have a website or even one customer yet!

My fiend and business mentor, Cindy Ruston, is offering her Information Product on-line, live coaching sessions again starting Wednesday, April 6, 2011.


I took this on-line class in December 2009 and learned a TON. It is one of the best classes I have taken to help me learn how to package and sell my information. It is PACKED with helpful information, resources, how-tos, tutorials, etc. This is very hands-on. Cindy is a great teacher and shows you step-by-step how to set up a website and sell your information product.
This class would be good for a teenager or parent or anyone who has some information about something that they can share!

Here’s what you get:

WEEK ONE: From Idea to Information Product to Profitable and Very Successful Business
Who are You?
Which Topic TODAY?
Ideas! What Do I Do with Them?
My Idea-A BUSINESS??? Also, includes Question/Answer Session recorded in our coaching session.

WEEK TWO: Information Products-YEP! YOU Can Do It!
What Can You Do With Your Ideas? Let’s Make it Easy!
Tips and Practical How-To’s for Creating Your Own Products
What Do You Need?
What Do You Do With Your Information Product?
How Do You Get It All Done-With the Hubby, Kids, and a Busy Life? Also, includes Question/Answer Session recorded in our coaching session.

WEEK THREE: Get Ready for Success! Secrets that will EXPLODE Your Business!
Setting Up Your Site to Sell!
Building a Responsive Mailing List
Stepping into Social Networking
Taking it Uplevel! Also, includes Question/Answer Session recorded in our coaching session.

WEEK FOUR: Finished! Now What????
Now WHAT???
Getting Ready to Launch
Lining Up Your Help
Marketing: Getting the Word Out
Marketing Mistakes  Also, includes Question/Answer Session recorded in our coaching session.

Cindy’s class was great. I created an information product (an ebook) in those 4 weeks, learned how to set up a website to sell it, and started a mailing list. It was amazing how much I learned and did in those 4 weeks.

Go here to sign up for the class: http://tinyurl.com/5ttp3dk

But that’s not all. I was amazed that Cindy set up a membership site that I can revisit at any time and watch videos, listen to the sessions again, chat with other classmates and read helpful articles.

  • Access to our Membership Site-– When you join this group, you not only receive access to the live group coaching sessions in April, but you also get immediate access to the Membership Site with all of the audios, tutorials, and videos from the last group coaching course. You will LOVE this!
  1. Video Tutorials on setting up your website step-by-step!
  2. Video Tutorials on setting up and using WordPress!
  3. Video Tutorials on how to set up your mailing list!
  4. Bonus Audios and Ebooks!

The From Idea to Information Product to Profitable and Very Successful Business class is offered in three different price packages:

  • 4 week class and membership site (recorded; not live, so listen when you want) $99.00
  • 4 week class, membership site and live Group Coaching Sessions $149.00
  • 4 week class, membership site, live Group Coaching Sessions plus 4 private coaching sessions $349

I bought the middle package. I really enjoyed the live sessions because I could ask a lot of questions and the live sessions kept me on track to accomplishing my goals. The Membership site alone is worth $149 (or more). I still keep up with other students and go back to the site to refresh what I’ve learned.

Cindy Rushton

Do you have some knowledge or information in your head! Get it out and create an information product. Consider joining Cindy in her 4 week class. I encourage you to do the live sessions. I think they were worth every penny. I might pop in too, because as an alumni I can join in the sessions!

Read more about the class here and scroll down to the bottom page to order.

Sign up for the class today: http://tinyurl.com/5ttp3dk

Carol Topp, CPA

CarolToppCPA.com Author and accountant

Filed Under: Micro Business For Teens, Work at Home Moms (WAHMS)

See you in Cincinnnati March 31-April 2!

March 30, 2011 By
I’m looking forward to seeing some of you this Thursday, Friday, and Saturday (March 31-April 2, 2011) at the Midwest Homeschool Conference at the Duke Energy Center in Cincinnati, Ohio (my hometown!)

I’ll be doing two workshops this weekend. The one for leaders is a support group meeting for leaders. I will briefly discuss Homeschool Leader: Are You Burnt Out? and then we circle the chairs and just share our questions and support each other as leaders. (the picture is me in the blue shirt meeting with homeschool leaders in Memphis, TN at a convention)

Here’s the handout: Burnout Handout

This session is scheduled for Friday at 11:30 am in the MILLENNIUM Hotel Pavilion room (you’ll have to walk to the hotel connected to the convention center)

I’ll be doing a workshop on Micro Business for Teens on Saturday at 11:30 am in the MILLENNIUM Hotel Pavilion room.

This workshop covers the basics starting and running a micro business and is geared toward teenagers. I will show why a micro business is great for a teenager, share ideas, explain the business basics like taxes and record keeping. Teenagers interested earning money and their parents are encouraged to attend together!

Download a complete schedule of all the workshops offered  or visit the convention website.
http://www.cincinnatihomeschoolconvention.com

In my workshops, I always try to leave time for questions, and you’re welcome to come back to Booth 1118 to ask more questions, sit for a while, and see what resources I have for teenage micro business owners!

Hope to see some of you there!

Carol Topp, CPA

Filed Under: Homeschool Groups, Micro Business For Teens

Tax cheats: Single, young men

March 28, 2011 By

The typical American tax cheat is male, single and under the age of 45.

Tax Cheats: Single, Young and Male

CNNMoney.com reports that:

They think they are “overall better people”, but they’d take money from a child, keep the wrong change given to them by a cashier, ask a friend to pretend to be a former boss for a reference check and lie about their income to qualify for government aid.

Many of them also said they would wear an outfit once and return it, file false insurance claims, keep money they see someone drop on the floor, or lie about finding something inappropriate in their food just to get a free meal.

Carol Topp, CPA

Filed Under: Personal Finance, Taxes

10 times a teenager needs to file a tax return

March 23, 2011 By

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Should your teenager file a tax return? Here are ten situations when a teenager may need to prepare a tax return.

  1. Your teenager received a W-2 and federal income tax was withheld. Look at your teenager’s W-2 Box 2 Federal income tax withheld. He or she may be due a refund of that money.

  2. Your teenager received a form 1099MISC and Box 7 Nonemployee compensation has an amount in it. Your teenager has been classified as an independent contractor and needs to file a tax return to pay self-employment tax. Read more about worker classification of teenagers at TeensAndTaxes.com.

  3. Your teenager received more than $950 in investment income from interest and dividends in a year. Investment income greater than $950 is taxed.

  4. Your teenager had a mix of earned income from a job or a business and investment income. He or she may owe tax on the combined income.

  5. Your teenager started a business and made a profit. He or she may need to pay income tax and self-employment tax. Visit my website MicroBusinessForTeens.com if your teenager has questions about starting or running a micro business.

  6. Your teenager started a business and lost money on it. He or she may wish to file a tax return to reduce their taxes in this year or future years.

  7. Your teenager received a form 1099B from a broker, bank or mutual fund company because he or she sold stock or a mutual fund and had a gain on the sale. Your teenager should file a tax return and include the stock sale on a Schedule D.

  8. Your teenager sold stock or a mutual fund and has a loss on the sale. He or she may wish to file a tax return to reduce their taxes in this year or future years.

  9. Your teenager had earned income from a job or a business and wishes to open a Roth IRA.

  10. Your teenager received several W-2s, but did not have federal income tax withheld on all the W-2s (look at Box 2). They may not have had enough tax withheld and may owe income tax.

If any of these situations happen to you, read more about teenagers and taxes at TeensAndTaxes.com. Then consult a local CPA to help your teenager file a tax return.

Carol Topp, CPA

Filed Under: Teens and Taxes

I love webinars: Preshow by the Schoolhouse Expo

March 16, 2011 By

Last night I sat with my feet up, laptop on my lap and headphone logged in and attended the Old Schoolhouse Expo March Preshow program.

I “arrived” to the webinar a bit late and caught just the end of Terri Johnson talking about all the cool ways she uses her iPad in homeschooling.

But then I spent an enjoyable hour hearing how Malia Russell manages 5 children, 4 business and homeschooling! She’s my hero!

I had just met Mary Jo Tate in person last week at a homeschool convention, and so I really enjoyed hearing her story of raising and homeschool 4 sons as a single mom. Her focus on balance and goal setting was very inspiring.

All in all, it was such a nice way to spend the evening. The technology worked great. I could see the speakers’ PowerPoint slides and hear them clearly. I didn’t worry about background noise at my house because we were all muted. I could also follow the chat going on in a sidebar. It was a handy way for the host to post links and for participants to ask questions.

If you’ve never tried on on-line webinar, you’re in for a treat.

The Old Schoolhouse Expo will have another Preshow on April 12, 2011 and their full week long Expo May 16-20, 2012.

I’ll be doing a workshop on Micro Business for Teens. I have my Powerpoint slides all ready to go!

Join us by grabbing a ticket to the Expo here.

Carol Topp, CPA

Filed Under: Homeschool Groups, Micro Business For Teens

Carol speaks to unemployed professionals

February 20, 2011 By

I’m a member of the Ohio Society of CPA’s Speakers Bureau and I recently spoke to a group of unemployed professionals at the Cincinnati Great Oaks Return to Work Center.

I talked about budgeting, debt, taxes, starting a business and whatever the audience wanted to discuss.

Here’s what came to me as feedback:


Hi Carol,

You are awesome!!!

Thanks you VERY much for your help. Thanks for coming to speak to the job seekers at the Great Oaks Return to Work Center Thursday.Your time and effort to put together a wonderful, useful, informative, and relevant presentation is GREATLY appreciated.

Carol, your interactive presentation was a HUGE hit. You got people really engaged and involved. You were well prepared to handle any thing that came your way and kept everyone focused on all of the topics that we all wanted to hear. You provided a LOT of useful and relevant information for people in career transition. You were “spot on” and totally understood your audience’s perspective. Huge thanks to you!!

You were the right person for us and we are so glad you were willing to help. You really made this happen for us and I cannot thank you enough.

Your presentation provided good advice for people to prepare filing 2010 returns and to prepare themselves to keep better records for 2011. All of the attendees walked away armed with information to bring more control into their lives in these economic times of uncertainty.

I hope you will accept another invitation to speak after tax time.

Thanks so much for your help.
Dana Brean>

I was so flattered to receive this note and very glad to hear what I shared was helpful.

If you would like to invite me to speak to your Cincinnati-area community group about personal finance, taxes or starting a business, please visit my speaker page and contact me.

Carol Topp, CPA

Filed Under: Personal Finance, Taxes

Taxes and the Freelance Writer

January 29, 2011 By

Join the National Association of Independent Writers and Editors! www.NAIWE.com
Member of the National Association of Independent Writers and Editors

Taxes and the Freelance Writer or Editor

I’ll be discussing taxes for writers on Wednesday, February 2, 2011 with Janice Campbell in a teleclass for the National Association of Independent Writers and Editors

Congress was very busy in 2010 creating new tax laws. Are there any tax breaks for writers?

I’m happy to report some good news.

All workers and self-employed business owners, such as freelance writers, will get a 2% raise thanks to our Uncle Sam for 2011.

Congress decided to stimulate the economy by getting Americans to spend more money. They have done it before with checks in the mail, but this year they will do it by reducing the Social Security tax from 6.2% to 4.2%, but only for 2011.

I’ll discuss the new tax bills, how they may affect freelance writers, authors and publishers.

Tune in live on Wednesday, February 2, 2011 at 3:30 pm EST

Members will find call-in information for the classes in the member area of the NAIWE.com website. You’ll find it by logging in on any page of the site, then going to the Library link, then to the Expert Teleclasses link. NAIWE teleclasses are totally free for members ($27 each for non-members).
If you’re not a member and you’d like to join in time for the teleclass, you may click on the “Join NAIWE” link below to do so. If you would like to register for the teleclass only, you may do so by visiting the Teleclass page. We hope you’ll join us!

Join me in the National Association of Independent Writers and Editors! www.NAIWE.com

Hop on over to TaxesForWriters.com to receive that handout from the show. Look in the bottom right corner for my report: New Tax Laws in 2010. Anything for Writers?


Carol Topp, CPA

Filed Under: Taxes

IRS audit flags

January 28, 2011 By

Ever wonder if your tax return is setting off flags to the IRS?  I found a very interesting article where the IRS shares what issues on a tax return might invite an audit.

IRS Targets 1040 Schedules, Procedures in Preparer Compliance Visits

This specific article focuses on the IRS making visits to professional tax preparers offices, including CPAs.  These are investigations of the tax preparer,  not the taxpayer (or so the IRS says). The IRS is investigating the following:

Returns with Schedule E Supplemental Income and Loss (from rents and royalties), reporting income or loss of more than 50% of adjusted gross income and high levels of rental property depreciation or loss.

Schedule A Itemized Deductions flags included high levels of charitable contributions or employee business expenses, and either reported as round numbers.

Schedule C, Profit or Loss From Business (Sole Proprietorship)

http://www.journalofaccountancy.com/Web/20113766.htm

Moral of the story: If you have a tax return with any of these schedules, use a knowledgeable, ethical CPA to prepare your return.

How to Chose a Qualified Tax Preparer (pdf)

Carol Topp, CPA

Filed Under: Taxes, Work at Home Moms (WAHMS)

Give your heart a refill at the Schoolhouse Expo

January 26, 2011 By

Take time to “get a refill” at the

Schoolhouse Expo, May 16–20, 2011.

Right now, you can buy your ticket to the live 2011 Schoolhouse Expo for an amazing price! Purchase your ticket by February 9th, and receive a $20 discount and gifts (valued over $419.87) for only $19.50!

In addition to the privilege of attending approximately 20 live, hour-long sessions, you will receive a one-year membership to the Homeschool Legal Advantage and a free will, valued at $65; 21 downloadable gifts worth more than $200; access to MP3 files of the sessions, for future reference; door prizes; access to a virtual vendor hall jam-packed with the market’s most outstanding vendors; and a whole lot of fun!

This special offer won’t last long! The Early Bird Sale ends February 9 at 11:59 p.m. We’d love to have everyone there, but space at the Schoolhouse Expo is limited. Tickets for the live conference are available on a first come, first served basis—we only have a limited number of tickets. Our May 2010 conference sold out within a few weeks. We want you to join us, so make plans to pick up your ticket during the Early Bird Sale! Get all the details here!

I’ll be there speaking on Micro Business for Teens! This is an on-line event, you can join us live in May or order all the workshops to listen to later.

I hope you’ll join me there!

Carol Topp, CPA

Filed Under: Homeschool Groups, Micro Business For Teens

Letter to my tax clients

January 25, 2011 By

Every year I compose a letter to my tax clients that discusses recent changes in tax laws that may affect them. Here is my letter for 2011

Dear Tax Client,

Happy New Year! Another tax season is almost upon us!

I was re-reading prior tax letters to you, my clients and it seems that every letter started out with amazement at all the tax law changes and a warning that because Congress acted so late in the year, that the IRS may be delayed in being able to accept your tax return! This year is no different! As you probably know several bills were passed in 2010 affecting your taxes including:

  • Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 enacted Dec. 17, 2010. The extension of the Bush tax cuts.
  • Patient Protection and Affordable Care Act (PPACA) (ObamaCare) and it’s amendment the Health Care and Education Reconciliation Act of 2010
  • The Hiring Incentives to Restore Employment (HIRE) and the Small Business Jobs Act of 2010 offering tax credits to small business owners and employers.

How these bills will affect most of you:

The Tax Relief bill came so late in December that the IRS may be unable to accept individual returns until February 14, 2011 for clients that itemize deductions. This news may come as a disappointment to you, especially if you are expecting a refund.

Mostly this bill is good news for many of you. The Bush tax cuts are extended such as the child tax credit, the educator $250 tax deduction, the deduction for state and local sales tax instead of state taxes, the American Opportunity credit for college tuition (extended through 2012). Some additional provisions include:

Energy-efficient improvements tax credit.Homeowners will be eligible for a credit, if they install insulation, energy-efficient windows or roofs or buy energy-efficient fans, water heaters and furnaces through 2011. Bring me your receipt and energy rating if you purchased insulation, doors, windows, fans, water heaters or furnaces in 2010.

Mortgage insurance premiums will be extended through 2011.

Donations from IRAs to charities for taxpayers over age 70 ½ has been extended through 2011.

A cut in Social Security tax from 6.2% to 4.2% just for 2011. This is like getting a 2% raise! Self employed taxpayers will also have a 2% reduction in self-employment taxes. You should see this tax reduction in your paychecks starting by January 31.

The Patient Protection bill is phased in over four years. Most of the provisions that have a tax impact to not begin until January 1, 2012. The provisions that may affect you now include:

Adoption credit. The maximum amount of the adoption credit is $13,170 for tax years starting in 2010 and the credit is fully refundable.

Health plan coverage of adult children. Adult children can be covered under an employer-provided accident or health plan until their 26th birthday.

Over the counter drugs cannot be purchased using a flexible spending accounts, healthcare reimbursement arrangements or health savings accounts without a prescription. Both my daughter and I take daily over-the counter medicine that I pay from my Healthcare Savings Account. I asked my doctor write a prescription for the drugs. I keep this paper with my tax documents in case I am audited.

Landlords must provide 1099MISC forms to all service providers paid more that $600 in a calendar year.

This year I am asking all of my clients to read and sign a 1040_Engagement_Letter.  You can bring it along with you to our appointment or sign and mail it with your tax paperwork if you prefer. I cannot complete or deliver you tax return without this signed engagement letter form you.

If you would like a Client Organizer to assist you in collecting and organizing your tax information, please email me and I will email you a personalized organizer.

Please visit my website CarolToppCPA.com for a copy of the engagement letter, a tax return checklist and articles on taxes that you may find helpful.

I look forward to seeing you again,

Carol Topp, CPA
www.CarolToppCPA.com

Filed Under: Taxes
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