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.
Billing customers for time and expenses in QuickBooks Online
Sometimes, you have to spend money on your customers. Make sure you’re billing them for it.
Footnote disclosures: The story behind the numbers
The footnotes to your company’s financial statements give investors and lenders insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making well-informed business and investment decisions.
View your financial statements through the right lens
Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand it. You’re likely also aware of how insightful properly prepared financial statements can be — especially when they follow Generally Accepted Accounting Principles.