Hit the Ground Running: 7 Steps for New Business Owners

Posted by Robert Hicks on April 01, 2021

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.


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Tags: Accounting, cloud accounting, business, cash flow

2020 - 1099 Forms: What You Need to Know

Posted by George Chahinian on January 26, 2021

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.

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Tags: Employment Tax, 1099-Misc, 1099, Taxes, 1099-NEC, IRS Form, 2020 IRS Form 1099

Award Year-End Bonuses the Right Way

Posted by Robert Hicks on December 17, 2020

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.

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Tags: employee benefit program, year-end bonuses, employee incentives, reward employees, bonuses, morale-building

Make Sales Support Organization-Wide

Posted by Rex Ours on November 19, 2020

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.

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Tags: staff training, cross training, sales, sales support, training, productivity, sales opportunities

Business Tax Diagnostic

Posted by David Knecht on November 11, 2020

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.

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Tags: Tax, tax savings, business tax, business tax savings

Simpler PPP Forgiveness for Loans of $50,000 or Less

Posted by David Knecht on October 16, 2020

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.

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Tags: Tax, coronavirus

PPP Loan Forgiveness Webinar

Posted by David Knecht on May 27, 2020

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.

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Tags: Tax, coronavirus

Coronavirus Rapid Response Checklist

Posted by David Knecht on May 04, 2020

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. 

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Tags: MKW News, Accounting, Updates, Forecasting, coronavirus, financial crisis

Managing Cash Flow: Finding Hidden Dollars in Your Small Business

Posted by Robert Hicks on August 30, 2017

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.

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Tags: Tax, Accounting, cloud accounting

6 Keys to Better Budgeting & Forecasting for CEOs

Posted by Michael Milam on February 08, 2017

Budgeting and forecasting are necessary evils to keep a company on track to meet their short-and long-term goals. Unfortunately, the process can be time-consuming and complicated. As CEO, you will want to make this yearly task move as quickly and painlessly as possible.

These six tips will act as a better way forward when completing your budget and forecast for the coming year.

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Tags: Tax, Accounting, budgeting, Forecasting