4 ways to refine your cash flow forecasting
Run a business for any length of time and the importance of cash flow becomes abundantly clear. When payroll is due, bills are piling up and funds aren’t available, blood pressure tends to rise. For this reason, being able to accurately forecast cash flow is critical.
Don’t choose your executor too hastily
Haste makes waste. Or, in the case of estate planning, it can lead to other problems and, possibly, financial loss. Notably, if you don’t take enough time to choose the best executor for your estate, this “wrong call” can cost your family.
Don’t forget to take state estate taxes into account
A generous gift and estate tax exemption means only a small percentage of families are currently subject to federal estate taxes. But it’s important to consider state estate taxes as well.
Remind your sales team about the power of storytelling
Everyone loves a story. It’s why movies are still big business and many of us spend hours on the couch binge-watching our favorite television shows. What’s important to keep in mind — and to remind your sales team — is that effective storytelling can also drive sales.
8 QuickBooks Online tips
There are always more things to learn about the applications we use every day. Here are some tips for expanding your use of QuickBooks Online.
Got an endowment? You need an investment advisor
Since the beginning of the pandemic, financial markets have been riding a roller coaster. This volatility is a good reminder that if your nonprofit has an endowment, it could benefit from management by a professional investment advisor. Here’s how to find a qualified advisor.
M&A transactions: Be careful when reporting to the IRS
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data.
Is your power of attorney for property powerful enough?
Your estate plan may include a power of attorney for property that appoints another person to manage your investments, pay your bills, file your tax returns and otherwise handle your property if you’re unable to do so. But not all powers of attorney are created equal. Thus, it’s a good idea to periodically review your power of attorney with your advisor to ensure that it continues to serve its intended purpose. Contact the estate planning advisors at SEK with questions.
Keep nonprofit board meetings short and sweet
Whether your not-for-profit is continuing to hold videoconference board meetings or is back to in-person gatherings, you don’t want to waste members’ time.
Tax depreciation rules for business automobiles
Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined.