Success and business mean the same thing. Do you agree? Most entrepreneurs are hopeful that their businesses will succeed. However, the number one reason businesses fail is a lack of cash flow. Less than 10% of businesses celebrate their 25th anniversary. The best practice is...
What were your thoughts when you heard about the failures of Silicon Valley Bank? As this situation develops, many businesses will experience how other companies’ financial strategies and economic fluctuations can affect businesses. As you listen to thought leaders, you may conclude that business planning, development,...
The United States of America (US) consists of small businesses that serve as economic drivers. Collectively they are reported to employ most Americans. Indeed, we need small businesses to thrive. The US government passed legislation that infused funds into the business world like the Paycheck Protection...
Is something off (performance worse than usual) in your business? Review the below list of challenges to assess your business: The Organization’s ability to continue (e.g., pay creditors, rent, payroll, etc.) as a going concern is doubtful. Flaws in your business’s operation like bottlenecks in...
Are you aware that CEOs of Fortune 500 companies hire people smarter than them? One common myth about owning a business is that you can operate it alone. Consider how a CPA can help your business increase in value: Blended roles as an outsourced team member....
It is reported that the U.S. Congress may vote on a COVID-19 relief package today. The below benefits interest a lot of Americans: 1. Enhanced unemployment benefits. 2. Direct stimulus payments. 3. Renewed funding for the Payroll Protection Program. 4. Extension of the eviction moratorium and rental assistance. 5. Increase...
Governor Kay Ivey's supplemental emergency proclamation will allow citizens and businesses to avoid paying state taxes on certain benefits received under the federal CARES Act. Per Governor Kay Ivey, "the state will not be collecting taxes from individuals or businesses who received benefits from the CARES...
The United States Department of the Treasury expects taxpayers to “pay no more than the correct amount of tax.” It is plausible that the Internal Revenue Service (IRS) receive declarations such as easier said than done, I did not know I could not deduct that expense, my...
The 2020 tax season ended on July 15. However, the tax year is in full effect. Most taxpayers account for their self-assessment tax obligation within a calendar year (e.g., January - December). Below are a few suggestions (limited scope) on how to prepare for the...