Nellie Akalp is the CEO of CorpNet.com, an online legal document filing service, where she helps entrepreneurs incorporate or form an LLC for their new businesses. Connect with Nellie on Twitter or visit her free resource center.

Spring is in full bloom and for many that means dusting off the cobwebs and cleaning the dog’s nose prints off the windows. For small business owners, it should also mean taking a good look at their business finances.

Now is the perfect time to take a spring cleaning approach to the business issues that often get put off. Here are six ways to clean up your financials and get organized.

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1. Talk to a CPA

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Now’s the perfect time to make an appointment with your tax advisor, as you’ll both have more time to discuss your financials and will be focused on long-term strategy, rather than getting through this year’s tax season. Most importantly, you’ll still have plenty of time to act on his or her suggestions while it’s still 2012.

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2. Re-evaluate Your Business Entity

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Many small businesses start out as sole proprietorships or partnerships, but then eventually transition to another entity as they grow. For example, if your business is not incorporated, you may want to consider incorporating (or forming an LLC) to shelter you from some financial risk and possibly save money on taxes.

Sometimes an entity is formed with one income target in mind, and you might need to reconsider the entity for a different income level. Failing to adjust your business entity for your revenue can be a costly mistake. Discuss the different legal entities with your CPA, so you can determine the right entity for your situation and the right time to make the change.

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3. Review Estimated Tax Payments for 2012

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Now that 2012 is in full swing (and your 2011 taxes are done), it’s a good time to review what your business has made year to date and your forecast for the rest of the year. Then assess your estimated tax payments to avoid having to dole out underpayment penalties next year. Likewise, there’s no reason to overpay with your estimated payments; interest rates may be low, but there’s still better things your business could be doing with that money.

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4. Separate Business and Personal Finances

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If you haven’t done so already, take the steps to keep your personal finances and expenses separate from those of your business. This is mandatory if your business is an LLC or Corporation, but it’s good practice for sole proprietors as well. This means a few things:

• Open a business credit card: While I normally don’t recommend opening any new credit lines, in this case it’s a smart idea. By putting all your business expenses on the business card, you’ve got an instant audit trail of your year’s expenses when tax time rolls around again. Of course, you should be saving merchant receipts as well.
• Open a business checking/savings account: If you’re operating as an LLC or Corp, your business needs to have its own checking account. If you’re a sole proprietor, you’re able to use your own personal checking account. However, consider opening a dedicated savings account or money market account where you can transfer approximately 25% for each check or payment received as your own personal tax withholdings. This strategy will make it far less painful when it’s time to pay your self-employment and small business taxes.

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5. Use a Cloud App to Get Organized

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There’s no shortage of affordable cloud-based and mobile apps to help small businesses streamline their operations and finances. Of course, in the daily grind of running your business, it’s all too easy to stay with the status quo. This spring make the time to try out at least one new web-based tool. For example, there’s FreshBooks for invoicing, Expensify for expense reporting, and countless other time tracking, travel, and industry-specific apps.

If you’re not sure where to begin, consider what make up the toughest parts of managing your finances. Are you slow to invoice clients? Did you have trouble digging through random receipts while filling out your Schedule C this year? Do you forget to track your mileage for client meetings? Your biggest headaches offer the best opportunities to improve your execution.

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6. Don’t Forget Traditional Cleaning

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When was the last time you cleaned your laptop keyboard or wiped down your phone headset? Ever mistake dirt on your display for punctuation? There’s no reason not to take the term “spring cleaning” literally and clean your devices to keep them looking their best.

None of these tasks will necessarily be things you’ll enjoy, but once done, you’ll be amazed at the difference they can make to your productivity, bottom line, and mindset.

Image courtesy of iStockphoto, catenarymedia

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To kick off the annual BlackBerry World trade show, Research In Motion unveiled a gadget, the BlackBerry Music Gateway, that bridges your phone with your stereo. Just pair your BlackBerry (or competing handset) via Bluetooth, and you’ll be quickly streaming music to whatever audio system it’s connected to.

Wait, pairing? Isn’t that why Bluetooth streaming hasn’t really taken off? Actually, it’s more complicated than that, but never fear: RIM has made the pairing simple by using yet another wireless technology: near-field communication (NFC).

Although NFC gets a lot of headlines for its application in mobile payments, it actually has a lot of other uses, insanely easy Bluetooth pairing being one of them. Just hold up your NFC-equipped BlackBerry to the Gateway, and — Bam! — you’re connected. Other Bluetooth phones can stream to the Gateway, but the NFC pairing is apparently BlackBerry-only.

SEE ALSO: RIM’s Secret Weapon for Reviving BlackBerry: HTML5

RIM is far from the first to come out with a wireless music adapter, but few Bluetooth products so far have the NFC-pairing feature (Parrot’s Zik headphones, which we caught a glimpse of at CES, are another).

The gadget is very small, about the size of a case of dental floss, so it should be easily tucked out of sight somewhere near your stereo. It connects to a stereo either via RCA connectors or a 3.5mm minijack, getting power via USB, letting it transition from home to car fairly easily.

The BlackBerry Music Gateway goes on sale in June for $49.99.

How do you like RIM’s new gadget — particularly the NFC-pairing ability? Have your say in the comments.

BlackBerry Music Gateway

The BlackBerry Music Gateway costs $49.99 and streams music from phone to any stereo it's connected to. RIM has simplified the Bluetooth pairing — if your BlackBerry has NFC, pairing the two devices is as easy as tapping the phone to the gadget.

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More About: blackberry, bluetooth, nfc, research in motion

Providing patients secure portable medical data in their wallet, paperless registration and vital medical data accessible by first responders in emergencies

CITRUS HEIGHTS, Calif.–(BUSINESS WIRE)– LifeMed ID , a “Health Security Smart Card” software company providing patient identity management solutions and medical record connectivity across entire provider systems and disparate groups, has deployed its SecureReg™ software at Resolute Health in New Braunfels, Texas. The Resolute Health BeneFIT card will be issued at the Resolute Health Center for Wellbeing and the Resolute Health Family Urgent Care Center.

LifeMed ID’s SecureReg™ is the nation’s leading multifaceted Smart Card solution that authenticates and accurately identifies patients and bridges disparate group data, unifying patient identity and current/historical medical data for Medicare, Medicaid, VA, Insurance Companies, Hospitals, Clinics, Medical Groups and entire Health Provider systems.

The SecureReg™ Patient Identity Management System quickly and accurately identifies and manages patients through the registration process. The system automates registration, authenticates and accurately identifies patients, automatically invokes the correct medical record using existing registration software and provides photo ID on card and registration screens…without keystrokes. The paperless registration and quick check-in significantly decreases patient wait times. With one swipe of their card the patient is instantly signed in at various registration points.

The SecureReg™ proven solution ensures that every patient is correctly matched to only one record number per location per visit–helping to eliminate duplicate and overlay records, keystroke errors, duplicate testing, medical and identity fraud, while contributing to patient safety and the security of patient information

The Health Security Smart Card allows First Responders access to a patient’s critical information including prescriptions, medical history, allergies, insurance, demographic, next of kin, advance directive as well as other key information on or offline. With the capacity to treat the patient effectively at the emergency scene and transmit the patient’s medical information to the emergency room, to alert ER staff of the incoming patient and the ER’s ability to prepare, further increase’s the critical patient’s chances of survival.

About Resolute Health

Resolute Health’s mission is to inspire and empower one another to engage in the pursuit of health and wellbeing for life. The Resolute Health BeneFIT Program will link patients to their physicians via the health information that will be shared in the LifeMed “cloud”, thus helping to decrease duplication of services, reduce costs and improve patient health outcomes.

“Working together, with partners such as LifeMed ID, we hope to help create healthier and safer communities in regards to accessing and sharing patient health information,” shared Tess Coody, Resolute Health CEO, “Improving access to and integration of community prevention and clinical services, and to eliminate health disparities for all the people we serve.”

Please visit http://www.resolutehealth.com for more information.

Contacts

LifeMed ID
Eva Micallef, 916-677-8431 ext. 127
evam@lifemedid.com
http://www.lifemedid.com

The New York Times accused Apple of evading billions of dollars in taxes by setting up subsidiary companies in tax-free or low-tax states and countries.

Apple, based in Cupertino, Calif., uses a small office in state-tax-free Nevada to manage and invest its profits, allowing it to bypass California’s 8.84% corporate tax rate. Apple’s Nevada-based subsidiary asset management company is called Braeburn Capital.

Apple has taken its Reno approach worldwide, and the company’s ability to find tax loopholes around the world is functioning as a template for many transnational corporations. The tech giant reduces the amount of taxes it pays by routing its profits to offices in low-tax countries such as the British Virgin Islands, Ireland, Luxembourg and the Netherlands.

Citing government and corporate data, The New York Times reported that technology companies are often the least taxed. Corporate tax dodging is nothing new, but Apple’s low-profile offices raise discussion about who is picking up the slack for Apple’s lack of tax payments. Is the liability shifting to everyday taxpayers?

In a statement responding to the allegations, Apple told The New York Times it “pays an enormous amount of taxes, which help our local, state and federal governments. In the first half of fiscal year 2012, our U.S. operations have generated almost $5 billion in federal and state income taxes, including income taxes withheld on employee stock gains, making us among the top payers of U.S. income tax.”

The New York Times findings are significant because it shows how Apple increases its already sky-high profit in its quest to become the most profitable company in the world — without paying the total amount of taxes the company is expected to pay based on its California location. It’s difficult to measure how much Apple and other corporations shell out in taxes because corporations are not required to publically disclose amount of taxes paid.

Although Apple didn’t disclose its amount of U.S. federal and state taxes paid, it did reveal in its last annual report that it paid $8.3 billion in worldwide taxes. That equals an 9% tax rate, compared with, for example, the 24% percent tax rate Walmart pays.

Apple contends it has not done anything illegal or unethical, telling the Times it “has conducted all of its business with the highest of ethical standards, complying with applicable laws and accounting rules.” Then Apple used language it usually reserves for product hype, adding, “We are incredibly proud of all of Apple’s contributions.”

While Apple declined to comment to Mashable about its taxing practices, Robert Hatta, a former Apple employee who oversaw Apple’s iTunes retail marketing and sales in Europe, gave The New York Times an example of how Apple pays lower taxes in Luxembourg instead of paying taxes to the U.S. Britain, France and many other countries.

“We set up in Luxembourg because of the favorable taxes,” Hatta told The New York Times. “Downloads are different from tractors or steel because there’s nothing you can touch, so it doesn’t matter if your computer is in France or England. If you’re buying from Luxembourg, it’s a relationship with Luxembourg.”

Meanwhile, Apple continues to net increasing profits. Last year the company raked in $34.2 billion. Most recently, Apple reported quarterly revenue of $39.2 billion ending March 31. iPhone and iPad sales dominated the company’s profits and showed huge growth from one year ago. In the second quarter of 2012, Apple sold 35.1 million iPhones and 11.8 million iPads. Apple’s tablet device sales soared high reaching an “151 percent unit increase over the year-ago quarter” and iPhones sales increase by 88% compared to the year-ago quarter.

Is Apple doing the right thing?

More About: apple, ipad, iphone, taxes, trending