It’s a good business practice to set a budget before the start of the year and then regularly review it. Doing this allows you to adapt your business … Read more about Preparing for Economic Changes: Re-Budgeting for Reopening
Sole Proprietorships: Number and Revenue Continue to Increase
Each year the IRS releases statistics on various types of business entities, and most recently it released the latest statistics on sole … Read more about Sole Proprietorships: Number and Revenue Continue to Increase
Is Bankruptcy Your Way Out? Alternatives to Consider
Bankruptcy is a legal process in which a federal court oversees a debtor’s settlements with creditors. Depending on the type of bankruptcy, a business … Read more about Is Bankruptcy Your Way Out? Alternatives to Consider
Preparing for Economic Changes: Forbearance, Deferral, and Forgiveness
The worst of the COVID-19 virus may be behind us from a medical perspective, but economically the pain has just begun. Some states are slowly, very … Read more about Preparing for Economic Changes: Forbearance, Deferral, and Forgiveness
5 COVID-19-Related Questions for Your 401(k) Plan
In response to statistics showing that only 53% of workers at companies with fewer than 100 employees were able to participate in a qualified … Read more about 5 COVID-19-Related Questions for Your 401(k) Plan
Paying Promptly: Aren’t We Legally and Morally Obligated?
Just about everyone—individuals and businesses—is struggling with cash flow. They just don’t have money on hand, which means it’s difficult if not … Read more about Paying Promptly: Aren’t We Legally and Morally Obligated?
How to Compassionately and Legally Break Promises to Your Staff
At the end of February 2020, the federal unemployment rate was 3.5%. At that time, business owners were looking for ways to attract and retain valued … Read more about How to Compassionately and Legally Break Promises to Your Staff
What to Know about Tax Losses Due to COVID-19
Many small businesses likely will have losses for 2020. After the COVID-19 subsides, there may be some bounce back in business, but it probably won’t … Read more about What to Know about Tax Losses Due to COVID-19
4 Steps to a Paycheck Protection Program Loan
The Paycheck Protection Program (PPP) allows small businesses to obtain loans that can be forgiven on a tax-free basis. There’s been tremendous … Read more about 4 Steps to a Paycheck Protection Program Loan
Get Cash Now: 3 Good Options
“Get cash now” is the tag line in an ad offering cash to someone with a structured settlement. It’s also the battle cry for small businesses trying to … Read more about Get Cash Now: 3 Good Options
Preparing for Economic Changes: Post-Pandemic Business Picture
In a post-pandemic world, business is not as usual. Many things have already changed, and many more changes are poised to occur. As Aldous Huxley … Read more about Preparing for Economic Changes: Post-Pandemic Business Picture
Government Incentives for Small Businesses: What’s in It for You?
Governments -- federal, state, and local — provide a variety of economic incentives to encourage businesses to hire workers, invest in capital … Read more about Government Incentives for Small Businesses: What’s in It for You?
Lining Up Your Employee Benefits Program for 2020
Now is the time to make your employee benefits plans for the coming year. What you offer depends on what your company can afford, so check your … Read more about Lining Up Your Employee Benefits Program for 2020
Budgeting Now for 2020
Now that we’re in the fourth quarter of 2019, it’s time to craft your budget for the coming year. This is an annual chore that should not be … Read more about Budgeting Now for 2020
FBAR Reporting for Business Accounts
FBAR (Report of Foreign Bank and Financial Accounts) The government filed a lawsuit against a person seeking $4 million in penalties for his failure … Read more about FBAR Reporting for Business Accounts
