Should my distressed company consider a debt restructuring?
Many businesses have experienced severe cash flow problems during the COVID-19 pandemic. As a result, some may have delayed or missed loan payments. Instead of filing for bankruptcy in court, delinquent debtors may reach out to lenders about restructuring their loans.
It may be time to tune up your nonprofit’s accounting function
Many organizations get stuck in procedural ruts because it’s easier in the short term to continue doing things the way they’ve always been done. But it generally pays to regularly review your not-for-profit’s accounting function for inefficiencies and oversight gaps.
Now or later: When’s the right time to transfer your wealth?
To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the federal gift and estate tax exemption — to an inflation-adjusted $11.7 million in 2021 — is viewed by some people as a “use it or lose it” proposition.
The many uses of a SWOT analysis
Using a strengths, weaknesses, opportunities and threats (SWOT) analysis to frame an important business decision is a long-standing recommended practice. But don’t overlook other, broader uses that could serve your company well. Performance factors
Financial keys to securing a commercial loan
Does your business need a loan? Before contacting your bank, it’s important to gather all relevant financial information to prove your business is creditworthy. By anticipating information requests, you can expedite the application process and improve your chances of approval.
State Unemployment Fraud
Last updated February 11, 2021 As our clients are beginning to receive tax forms for 2020, some are receiving 1099-Gs from states reporting unemployment benefits paid to the client for 2020, even though the client never filed for unemployment benefits and never received any benefits.
You Have Options When Addressing Life Insurance in Your Estate Plan
Life insurance has long provided a source of liquidity to pay estate taxes and other expenses. But, with the estate tax exemption currently set at an inflation-adjusted $10 million ($11.40 million for 2019), estate taxes are no longer a concern for many families.
New revenue idea? Watch out for the commerciality doctrine
If your not-for-profit has lost financial support during the pandemic, you may be looking for ways to raise new revenue. But if your proposed solution is a side business, be careful.
Are your supervisors adept at multigenerational management?
Over the past year, the importance of leadership at every level of a business has been emphasized. When a crisis such as a pandemic hits, it creates a sort of stress test for not only business owners and executives, but also supervisors of departments and work groups.
