Has the Government-mandated Covid shutdown brought your cash flow to a halt? Have you been able to operate, but still haven’t been able to get your revenues up to the level they were at before all the lockdown madness of 2020? Here's a brief overview of how the federal Employee Retention Credit (ERC) can get you up to $33,000 (per employee) in refundable federal tax credits through the end of 2021.Read More
Running a new business can be a daunting endeavor. As soon as you form a business, you'll face many important decisions, ranging from mundane to critical. While much of what you must learn comes through trial and error, other lessons can be learned by observing what other business owners have experienced. Here are seven tips to help you hit the ground running.
Did you know that there have been changes to the 1099 Forms starting in 2020? Fortunately, these are changes that shouldn’t be difficult to deal with.
Starting for the 2020 filing year, the IRS has introduced the 1099-NEC Form, which is to be used to report Non-Employee compensation, previously recorded on line 7 of the 1099-MISC Form. Currently, the definition of non-employee compensation refers to payments to individuals not on payroll, but rather on a contract basis to complete a project or assignment.
This has been a rough year for many businesses in a broad range of industries - perhaps including your company. As the New Year beckons, you might want to reward employees who rose to 2020's considerable challenges and outperformed. One approach is to reward loyal workers with year-end bonuses.Read More
For a robust bottom line, teach all staff members in your company how and why customers make purchases. The better your employees work with customers, the brighter your profit picture will likely be. This article shows you four key areas to include in a training program. Part of this process means having veteran sales people work with newcomers to help them learn.Read More
With all of the changes in tax laws, and with more to come, do you know if you are taking advantage of all possible savings?
Whether you do your own taxes or have had the same accountant for the past 10, 20 or 30 years, it can be beneficial to have someone else take a look at your tax situation and make sure that you are not losing out on deductions that are allowed to you.
The U.S. Small Business Administration (SBA) has released a new, simpler loan forgiveness application for the Paycheck Protection Program (PPP) loans of $50,000 or less. The new form streamlines the PPP forgiveness process by providing financial and administrative relief to America's smaller businesses.Read More
Presented by Rex Ours, CPA and David Knecht, CPA, CVA, MAcc
You have your PPP loan, the clock has started, now what? The next step is to spend it during your eight week window in a way that maximizes loan forgiveness. How do you do that? Watch and see below.Read More
The Boston Consulting Group (BCG) has recently made available their Rapid Response Checklist to help navigate through this Coronavirus crisis. This checklist provides numerous timely suggestions for dealing effectively with this crisis. BCG lists out a number of suggestions and issues to consider. Reviewing this checklist might help to be sure you have not overlooked critical components needed to successfully traverse this rocky terrain which will likely continue for a while.Read More
Managing cash flow is one of the biggest challenges involved in running a small business. Thankfully, there are a few secrets you can use to keep the dollars flowing.Read More